Uniper asks Berlin for more help, raising bailout to £16bn August 29, 2022 German energy giant Uniper has asked Berlin’s government for additional funding, raising the total bailout sought to €19bn (£16bn). The company said its current liquidity was impacted by the West’s standoff with the Kremlin over energy supplies and the consequent surge in costs. “As Russia does not honour its supply contracts, we have to buy [...]
Tory leadership election: Let’s hope for some fresh ideas from new PM August 29, 2022 To paraphrase the former US President Gerald Ford, we are approaching the end of our national nightmare. The Tory leadership election finally comes to an end this time next week, when the new Prime Minister will travel to Buckingham Palace to inherit an in-tray of what would no doubt be described by Whitehall mandarins as [...]
Zaporizhzhya nuclear plant: UN team moves in as shelling nearby risks leaks August 29, 2022 A TEAM from the United Nations’ nuclear watchdog touched down in Ukraine yesterday amid ongoing concern that Europe’s largest nuclear power plant in Zaporizhzhya is becoming a hotspot for conflict. The Zaporizhzhya plant sits on the Dnipro River and has been under Russian control since March, though remains staffed by Ukrainians. Shelling in the vicinity [...]
National Lottery licence winner Allwyn posts strong quarter despite consumer squeeze and legal battle August 29, 2022 Allwyn, the winner of the fourth National Lottery licence, has posted strong quarterly results this morning despite weaker consumer sentiment and its ongoing tussle for the lucrative contract.
Vaping hits record high with over four million Brits turning to e-cigarettes August 29, 2022 New data has revealed that there are now five times as many vapers in the UK than there were in 2012, as the e-cigarette revolution takes off.
Some audit partners retiring early fearing regulatory scrutiny, accounting body warns August 29, 2022 Some audit partners are retiring early over fears that they might be subject to regulatory scrutiny from the UK’s audit watchdog, a major accounting body has cautioned. “It can have negative consequences for your career if there is any deficit in the audit work you’ve done,” Michael Izza, chief executive of the Institute of Chartered [...]
Equinor weighs up sale of stake in major oil and gas field August 29, 2022 Equinor is considering offloading its 28 per cent stake in Statfjord field, which straddles the Norwegian and British continental shelves.
Investors draw up rescue bid for Newport Wafer should Nexperia takeover be blocked August 29, 2022 Computer chip investors are reportedly drawing up plans for a rescue bid of Newport Wafer Fab, should its £63m takeover by Nexperia be blocked by the government. The co-founder of Headlight Technology Partners, which focuses on semiconductor investments, Alex Stewart, told the Telegraph that the newly established fund wants to “try and be part of [...]
Europe faces winters of discontent without gas price cuts, warns Belgium August 29, 2022 The EU could suffer a decade of painful winters if nothing is done to reduce natural gas prices, warned Belgium's energy minister.
Ericsson to wrap up remaining Russian operations, says local state media August 29, 2022 Ericsson will wrap up its remaining Russian operations by the end of this year, according to local state media. The Swedish telecom equipment manufacturer announced in February, following Russia’s invasion of Ukraine, that it would suspend deliveries to customers in Russia, in line with Western sanctions. Then in April, the company placed its Russian employees [...]