FTSE 100 live: Oil rises to the top of London’s blue chip index as week’s trading draws to a close March 17, 2023 A rise in oil prices bolstered a FTSE 100 which had been battered by knocks in confidence over the banking sector most of the week. The FTSE 100 was last up 80.62 points at 7,490.65, a rise of 1.09 per cent, while the FTSE 250 – which includes more UK-centric listed companies was trading at [...]
Holidaymakers told to expect delays as passport office workers start FIVE WEEK strike March 17, 2023 Passport Office workers are to strike for five weeks in an escalation of a dispute over jobs, pay and conditions. More than 1,000 members of the Public and Commercial Services (PCS) union working in Passport Offices in England, Scotland and Wales will take part in the action from April 3 to May 5. Those working [...]
CMA: £1.2bn deal with data and software firms will push UP NHS costs and reduce competition March 17, 2023 A £1.2 billion deal between two data management and software companies could push up costs for the NHS by reducing competition, a regulator has found. The Competition and Markets Authority (CMA) gave UnitedHealth and Emis five days to come up with a plan to mitigate some of its concerns – or risk the watchdog blocking [...]
Explainer: Why Waitrose is no longer the jewel in the John Lewis crown and how the group’s future may lie in property, not produce March 17, 2023 Times are tough for John Lewis as chair Sharon White admitted when the high street stalwart this week announced it had made a £234m loss in 2022. The sum was worse than market expectations and marked the second year the upmarket retailer had gone into the red. In a sympathetic letter addressed to the company’s [...]
TikTok denies Chinese state collusion after UK government bans social media app use on devices March 17, 2023 Chinese-owned company TikTok has said it is “disappointed” by the government’s decision to ban the social media app on MPs’ phones. The social media video app has been at the centre of security and data protection concerns in recent weeks – with Cabinet Office minister Oliver Dowden announcing the decision in parliament yesterday. Speaking yesterday [...]
Richard Branson’s Virgin Orbit crashes back to earth as firm pauses operation to secure more funding March 17, 2023 Richard Branson’s satellite launch firm Virgin Orbit has paused operations, the company said, amid reports that it is working to secure additional funding. The news comes after the company, which is based in California, failed in its first ever satellite mission from UK soil in January. In a statement, the company said: “Virgin Orbit is initiating a company-wide operational pause, [...]
First Republic: US stocks rally after 11 banks including JP Morgan, Citi and Goldman stump up $30bn in rescue effort March 17, 2023 US stocks rallied on Thursday after a group of big banks offered a lifeline to the bank that investors had zeroed in on in their hunt for the industry’s next victim. The S&P 500 jumped 1.8 per cent for its best day in nearly two months after 11 of the biggest banks said they would [...]
Royal Mail referred to Ofcom after claims boss ‘misled’ MPs over tracking of staff March 17, 2023 MPs have urged regulator Ofcom to launch an enforcement investigation into Royal Mail after claiming they were “misled” by the CEO’s evidence over the tracking of staff in parliament last month. Concerns over digitally tracking productivity, “systemically” failing in its legal duty to deliver letters six days a week and issues of sick pay being [...]
Exclusive: Home REIT investors push for sweeping tenant clear-out in rescue plan March 17, 2023 Home REIT investors are pushing for a clear-out of its tenant base as part of rescue plans drawn up by the firm vying to become its new investment manager, City A.M. has learned.
New ‘metaverse’ themed co-working space opens on Oxford Street March 16, 2023 A new co-working space has today launched in Oxford Street which will be themed around the ‘metaverse’ and help to bring creatives and investors into one space. Office and workspace company Huckletree, which operates across some of the biggest cities in the UK, has opened London’s first dedicated hub for tech companies pioneering new digital [...]