Innovate Finance slammed for hosting Hong Kong minister at London conference April 15, 2023 Fintech industry body Innovate Finance has been criticised over its decision to invite a senior Hong Kong finance minister to speak at a London conference next week as the territory’s government continues its political crackdown. Activists and MPs have hit out at the group’s decision to host Hong Kong’s financial services secretary Christopher Hui speak [...]
Federal Reserve green lights UBS-Credit Suisse deal in US April 15, 2023 The Federal Reserve's Board of Governors on Friday said it has approved UBS Group AG's acquisition of the U.S. subsidiaries of Credit Suisse, clearing another major hurdle for the completion of the Swiss-brokered rescue deal.
IEA warns OPEC+ cuts risk supply deficit as it predicts record oil demand April 15, 2023 Output cuts announced by OPEC+ producers risk exacerbating an oil supply deficit, the International Energy Agency (IEA) said,
Coalition of 15 investors with total assets of £2.4trn plead with firms to protect lowest-paid workers April 14, 2023 A coalition of investors are demanding that businesses take “decisive action” to protect their lowest paid workers during the cost of living crisis. The coalition, which includes 15 investors with a combined £2.4trn in assets under management, argued that the lowest-paid workers are “disproportionately impacted by the rising cost of living.” Companies should ensure that [...]
‘Mob-like tactics’: Peers urged to scrap plans allowing gas network to enter homes and switch boilers WITHOUT consent April 14, 2023 Campaigners are urging peers to scrap a proposed law allowing gas distribution networks to switch boilers to hydrogen without consent.
Supermarket wars: Lidl and Aldi play catch up with Tesco in slashing price of milk April 14, 2023 Aldi and Lidl have followed rival supermarkets Sainsbury’s and Tesco in slashing the price of milk. The budget retailers announced on Friday that they are cutting the price of their four-pint own brand bottles by 10p from £1.65 to £1.55. The change follows a similar announcement by supermarket Sainsbury’s on Thursday, with Tesco being the [...]
Pub banned from getting awards or being in Campaign for Real Ale guides over ‘golliwog’ dolls April 14, 2023 A pub where golliwog dolls were seized by police has been banned from receiving awards or being in beer guides by the Campaign For Real Ales. The White Hart Inn in Gray’s, Essex, has had its entry in the Good Beer Guide deleted and it will not be considered for any further guides, the Campaign [...]
Profits Superdry up and share price plunges as retailer plans to cut costs by £35m and fundraise out of a hole April 14, 2023 Fashion chain Superdry has warned over its profits and revealed plans to cut costs by more than £35 million after struggling against dampened consumer spending. The retailer said it was considering a fundraise in a bid to shore up cash to help it “emerge from the current turbulence”. Its share price plunged by around 18% [...]
Twitter: Elon Musk launches new long-form platform allowing 10,000 characters April 14, 2023 Twitter has launched a new platform to support writers move from micro-blogging to longer-form pieces, with posts of 10,000 characters permitted. The Elon Musk-owned social media giant announced the launch of Twitter Write on Friday, offering “improvements to the writing and reading experience” for users. “Starting today, Twitter now supports Tweets up to 10,000 characters [...]
FTSE 100 live: London markets make small gains with retailers in focus as sterling stays strong April 14, 2023 Markets opened marginally higher on Friday with a mixed performance from retailers while the pound continued to strengthen as investors increasingly expect the Fed to start cutting rates across the pond. The FTSE 100 opened 0.20 per cent higher at 7,859.58, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]