Boss of Newport Wafer Fab’s Chinese owner convicted for stealing tech secrets February 26, 2023 The boss of the Chinese company that owns Britain’s largest semiconductor factory was handed a jail sentence over allegations he stole trade secrets, it has been revealed. Zhang Xuezheng, the founder of Wingtech, was sentenced to 17 months in jail and fined in 2005 for buying trade secrets from ZTE, his old employer, The Sunday [...]
Norwegian billionaire fails to overturn conviction for lying to UK court in £285m Deutsche Bank dispute February 26, 2023 Norwegian billionaire Alexander Vik has failed to overturn a conviction for lying to a UK court during a £285m dispute with Deutsche Bank. Deutsche Bank first sued the magnate’s company, Sebastian Holdings, back in 2009 over a series of loss-making foreign exchange deals, and the court has since ordered the firm to pay $243m (£203m) [...]
Top Home REIT shareholder Liontrust slams ‘serious shortcomings’ as it mulls next move February 26, 2023 Top Home REIT investor Liontrust has slammed “serious shortcomings” at the beleaguered social housing firm and said it is mulling “propositions” with other major shareholders to try and steady the ship.
HSBC doubles down on homeworking as Lloyd’s of London pushes for return to City HQ February 26, 2023 HSBC’s and Lloyd’s rival plans for the futures of their London headquarters have revealed a growing split in attitudes towards the long-term prospects of working from home. Lloyd’s of London is reportedly in talks to extend the lease on its iconic City headquarters as it works to bring staff back into the office in resisting [...]
Jaguar fails to block Cheshire campervan maker from trademarking ‘Overlander’ brand February 26, 2023 Luxury carmaker Jaguar has failed in its bid to block a Cheshire campervan company from trademarking the word ‘Overlander’. Jaguar asked a tribunal to block Warrington firm Car & Commercial Solutions Ltd from registering the word ‘Overlander’ as a trademark, due to it sharing similarities with its own ‘Lander’ brand. The tribunal ruled, however, it [...]
Fruit and veg shortage will get worse before it gets better, warn farmers February 25, 2023 The National Farmers’ Union (NFU) has warned that shortages of some fruit and vegetables in UK supermarkets could be “the tip of the iceberg”. NFU deputy president Tom Bradshaw said a reliance on imports has left the UK vulnerable to “shock weather events”. Soaring energy bills exacerbated by the war in Ukraine have also put [...]
Warren Buffett turns record profit – despite lashings of global headwinds February 25, 2023 Warren Buffett’s Berkshire Hathaway Inc on Saturday reported its highest-ever annual operating profit, even as foreign currency losses and lower gains from investments caused fourth-quarter profit to fall. Buffett called 2022 a “good year” for Berkshire in his annual shareholder letter after the conglomerate’s dozens of businesses generated $30.8 billion of profit despite rising inflation and [...]
Sunak to press on with Brexit deal talks as EU leader’s visit cancelled February 25, 2023 The Prime Minister will keep working towards securing a post-Brexit deal after plans for an in-person meeting with the European Commission president was called off.
Priti Patel calls on Jeremy Hunt to stop planned corporation tax rise February 25, 2023 Former home secretary Priti Patel has urged the Chancellor to use his Budget next month to halt the planned corporation tax rise. The senior Conservative has argued that “now is not the time” for an increase in the tax on big business. In plans agreed while she served in Boris Johnson’s cabinet, corporation tax is [...]
Unpaid overtime forcing public sector workers to quit February 25, 2023 Public sector workers are becoming “burnt out” and quitting their jobs after putting in millions of hours of unpaid overtime last year, according to a report. The TUC urged everyone to work their proper hours as part of its annual campaign against excessive unpaid overtime. The union organisation estimated that employers claimed £26bn of free [...]