Norway sovereign fund loses more than $150bn thanks to tech rout August 17, 2022 Reuters Norway’s sovereign wealth fund, the world’s largest, made a record loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022 as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund’s return on investment was a negative 14.4% for the January-June period, which [...]
Russia has 38 per cent jump in energy export earnings this year: internal document August 17, 2022 Reuters Higher oil export volumes, coupled with rising gas prices, will boost Russia’s earnings from energy exports to $337.5 billion this year, a 38% rise on 2021, according to an economy ministry document seen by Reuters. The jump in revenues, if it materialises, will help shore up Russia’s economy in the face of waves of [...]
Exclusive: Industry faces £50bn ‘ticking time bomb’ of record energy bills August 17, 2022 UK industry will suffer painfully high energy costs next year, fuelled by soaring wholesale costs.
Norway’s sovereign wealth fund notches record $174bn loss August 17, 2022 Norway's sovereign wealth fund, the worlds’ largest, made a record loss of 1.68 trillion Norwegian crowns ($174bn) in the first half of the year as its investments were rocked by fears of a global recession and rampant inflation.
STEM skills shortage continues to hit UK businesses, says Gattaca boss August 17, 2022 The boss of engineering and technology recruiter Gattaca has said the UK’s current shortage of STEM skills is continuing to hit firms. Chief executive Matthew Wragg said today that the London-listed firm was “well placed” as it entered a new financial year, amid a limited supply of the “niche” skills. “There remains a shortage of [...]
Airbnb introduces anti-party tech to crackdown on lively holiday goers August 17, 2022 Airbnb has introduced new anti-party tools to help identify potentially high-risk reservations and stop them from making bookings.
Brits still working from home this winter facing hundreds more in energy bills August 17, 2022 The post-pandemic work from home honeymoon could end this winter with Brits having to pay hundreds more in energy bills to heat their homes. Research has shown it is cheaper for workers to go back to their desks, than to heat their homes while working in them, to the tune of almost £200 a month. [...]
Auditor BDO quits Tory co-chair’s concierge service Quintessentially August 17, 2022 BDO is reportedly resigning as auditor of Quintessentially, the members-only concierge service founded by Tory party co-chair Ben Elliot, following a breakdown in their relationship. The auditing firm has cut ties with Quintessentially’s travel service, and is also set to exit its relationship with the wider group, the Financial Times reported. BDO declined to comment on the report. [...]
Citco funds swing into positive as manager sentiment ticks upward August 17, 2022 Hedge fund giant Citco saw performance in its funds swing back into positive territory in July after a sustained slide for much of this year, the firm revealed today.
Drought plagues supply chains as Toyota and Apple supplier Foxconn latest hit August 17, 2022 Toyota and Apple supplier Foxconn, among others in south west China, have paused their plant operations as drought continues to further jeopardise supply chains amid the pandemic. The Sichuan province announced today that it must suspend energy supplies to factories in several cities as drought hits its hydropower supply, the Financial Times first reported. The [...]