Microsoft confirms it will cut 10,000 jobs January 18, 2023 Microsoft will be making 10,000 job cuts by the end of the third quarter of this year, the company said today confirming earlier reports. As incomes at Big Tech firms continue to decline, Microsoft has joined giants like Google and Twitter in laying off staff. Earlier today, Microsoft issued a statement, saying that the staff [...]
Davos round-up: Goldman’s consumer banking headache, Big Tech layoffs and Germany’s green drive January 18, 2023 As some of the world’s most important CEOs, politicians and thinkers gather at the World Economic Forum in Davos to discuss an array of economic, political and social challenges, City A.M. wraps up some of the top lines from the day. Goldman Sachs’ consumer banking headache Goldman Sachs’ foray into consumer banking has not gone [...]
UK’s data watchdog to shift away from big fines to focus on prevention January 18, 2023 The UK’s data watchdog has vowed to shift away from simply hitting companies with big fines for breaching data privacy rules and instead will look to adopt a more preventative approach. John Edwards, head of the Information Commissioner’s Office, said today that he will focus on preventing data breaches from happening in the first place [...]
“Utter tosh”: City bigwigs react to office cake ban calls January 18, 2023 MANAGEMENT gurus, CEOs and Square Mile workers all slammed a nanny state call by the nation’s top food regulator to ban cake from the office today.
Great British Nuclear lacks ‘overarching strategy’, warns leading advisor January 18, 2023 GBN is in need of an overarching strategy and lacks a clear role in securing the UK's energy independence, warns nuclear boss.
Harbour Energy plans job cuts in Scotland as toughened windfall tax bites January 18, 2023 The North Sea's biggest oil and gas producer is planning job cuts in response to the windfall tax - as the backlash to the levy intensifies.
Total Energies to cough up £1.7bn to pay off hiked windfall taxes January 18, 2023 French oil major TotalEnergies has confirmed it will take a £1.7bn hit in the fourth quarter from EU and British windfall taxes.
UK ‘cleantech’ firms set for funding boost amid net zero drive, KPMG predicts January 18, 2023 Venture capital investors are turning their gaze towards the UK’s so-called cleantech sector this year as net zero targets move closer, analysts from KPMG have predicted. Last year, global venture investment slumped by almost a third last year as soaring inflation and sharp rate hikes caused investors to turn off the taps following a funding [...]
Crypto market shows signs of life as Bitcoin jumps over 20 per cent – but what’s behind it? January 18, 2023 Bitcoin investors are enjoying a strong start to the year as prices in the flagship cryptocurrency rebound from historic lows seen in the wake of FTX’s collapse in November.
Antofagasta posts bullish outlook for 2023 as copper prices soar January 18, 2023 Antofagasta is optimistic about its prospects this year after navigating higher input costs and an ongoing drought in Chile.