Google’s VC arm backs London climate start-up May 30, 2023 A London-based ‘carbon removals’ platform used to green the Jubilee and the Queen’s funeral has received £5.3m worth of new funding as it looks to scale up. Founded by serial fintech entrepreneur Marta Krupinska, climate scientist Dr Gabrielle Walker and Mark Stevenson, Cur8 is the market maker for carbon removals. The firm buys carbon removal [...]
Indian authorities push forward with “graft” probe into BAE Systems and Rolls-Royce May 30, 2023 INDIAN authorities yesterday took the next step in a long-running, historic case against BAE Systems and Rolls-Royce over alleged graft almost twenty years ago. The authorities allege a “criminal conspiracy” related to the purchase of training jets in 2005, with Indian prosecutors saying in a document seen by Reuters that the deal was done as [...]
Rail strikes add to pain for hospitality as trade body warns of crisis point May 30, 2023 RAIL STRIKES this week are set to add to the woes of the hospitality industry, already bruised by an almost doubling of energy bills. Industrial action by the RMT and ASLEF unions will see walkouts on three separate days of what would have been a busy week for bars and pubs. Staff will walk out [...]
Ministers must accelerate pension dashboard after ‘disappointing’ delays, AJ Bell chief warns May 30, 2023 Ministers must push ahead with the roll-out of the much-delayed pension dashboard or risk savers disengaging with their retirement cash, the chief of AJ Bell has warned.
HMRC looks to sniff out more British firms abusing tax havens May 30, 2023 The UK’s tax authority is tracking an increasing number of firms suspected of using tax havens, new data reveals. HMRC is now tracking 512 UK firms that are suspected of failing to conduct enough business activities in those tax havens to legitimately claim they operate there, according to data obtained by law firm Pinsent Masons [...]
New transatlantic airline Global buys first plane May 29, 2023 A new UK-US airline, Global, which is intending to launch flights across the Atlantic by spring 2024, has officially announced the acquisition of its first plane. The company said this morning that it had acquired an Airbus A380, the world’s largest passenger plane, according to the PA news agency. It confirms last week’s revelation’s in [...]
Over-fifties add second jobs as cost of living bites into savings May 29, 2023 The number of people aged 50 and older with a second job has increased by more than 100,000 in the past decade, according to new research. The total jumped to more than 440,000 in the first quarter of the year, almost a third more than the same period in 2013, said Rest Less, which offers [...]
India files “criminal conspiracy” charges against BAE and Rolls-Royce May 29, 2023 India has filed a graft case against Britain’s BAE Systems and Rolls-Royce Holdings for “criminal conspiracy” in the procurement and licensed manufacturing of 123 Hawk 115 advanced jet trainers, a document showed. The case is based on the findings of an investigation launched by India’s Central Bureau of Investigation (CBI) in 2016, the federal police [...]
Rolls-Royce: ‘No decision’ on job cuts May 28, 2023 British engine maker Rolls-Royce has made no decisions regarding changes to its workforce, a company spokesperson said on Saturday, after a Sunday Times report said the company was expected to cut about 3,000 non-manufacturing staff. The Sunday Times report added that chief executive Tufan Erginbilgic has hired consultants led by McKinsey to advise on streamlining the company. [...]
Analysis: Why US debt ceiling deal might not be good news for global markets May 28, 2023 Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal government’s $31.4 trillion debt ceiling, two sources familiar with the negotiations said, potentially averting [...]