Airbus ‘colluded’ with EU authorities over Qatar Airways dispute, court told November 11, 2022 Airbus allegedly colluded with the EU’s aviation safety regulator to ensure the authority supported its position in a dispute it had with Qatar Airways, lawyers for the middle eastern airline told a London court today. Airbus succeeded in “exerting influence” over the European Union Aviation Safety Agency (EASA) by providing the regulator with a “line [...]
Almost half of firms given loans by British Business Bank would have gone under in pandemic November 11, 2022 Nearly half of the companies supported by a state-owned fund would have gone bust in the pandemic without its support, a new report has found. The British Business Bank’s £1.14bn support to 1,190 firms helped 48 per cent stave off going bust during uncertainty of coronavirus. The evaluation from the BBB said more than 60 [...]
Financial Markets Wrap-Up November 11, 2022 | City Talk Well, were at the end of another interesting week of trading. We started the week with some poor Chinese trade data, coupled with a back track on rumours from the previous week that covid restrictions would be loosened which kicked us off with a slightly negative start but the action for the week was never [...]
Egg-istential crisis: Shops ration staple as inflation, supply woes drive up price November 11, 2022 Supermarkets are rationing sales of eggs as problems with supply chains are leaving soaring prices and empty shelves. The staple food is experiencing a rise in price due to inflation and a shortage, owing in part to recent orders to house all poultry in doors due to a huge surge in avian flue. Steven Dresser, [...]
Confidence at all time low: Soaring costs force half of food manufacturers to cut investment November 11, 2022 Rising input costs have forced almost 50 per cent of food and drink manufacturers to cut investment, a new report reveals today. The Food and Drink Federation (FDF)’s research outlines that 40-year-high inflation is forcing companies to scale back plans for growth, with rising costs increasing by an average of 21 per cent this year. [...]
Of dice and men: How Ian Livingstone conquered the nerd universe November 11, 2022 In a leafy enclave of West London, Ian Livingstone is balanced precariously upon a chair in his study, grasping for a top-shelf box filled with incredibly rare figurines. The legs of the chair creak in protest, and there is a moment when I fear I may be responsible for the untimely death of the man [...]
As GDP contracts again top wonk warns malaise ‘spreading throughout economy’ November 11, 2022 The slowdown in growth is now “spreading throughout the economy”, a top economist has said in wake of this morning’s disappointing GDP figures. The leading wonk at the Institute of Directors warned of major contractions in multiple sectors following news of a 0.2 per cent fall in GDP this quarter, and a 0.6 per cent [...]
Beazley on track for year guidance as gross premiums rise to £3.3bn November 11, 2022 Beazley remains on track to deliver its year guidance of a high 80s combined ratio following a 22 per cent increase in written gross premiums. In the nine months ended 30 September, the insurance powerhouse’s premiums rose to $3.9bn (£3.3bn) as a result of significant growth in all of its divisions. Premium rates on renewal [...]
Spanish telecoms Cellnex firm widens reach in the UK under £8.7bn deal November 11, 2022 Spanish telecoms firm Cellnex is widening its reach in the UK under a €10bn (£8.7bn) European deal covering six countries. The Competition and Markets Authority (CMA) has now cleared the deal for CK Hutchison, which owns telcoms towers, in the UK. Cellnex has also acquired CK Hutchison in Austria, Ireland, Denmark, Sweden and Italy. The [...]
‘I f****d up’: FTX founder scrambles for cash as Bahamas regulator freezes assets November 11, 2022 The founder of crypto exchange FTX admitted he “f*cked up” yesterday as his firm scrambles to raise emergency funds and stave off a collapse that could spark contagion across the industry.