Peel Hunt says revenues will tumble to £40.5m as capital market slump continues October 3, 2022 Investment bank Peel Hunt said it expected revenues to come in at £40.5m in the first six months of the year as it continues to feel strain of a slump in capital markets activity this year.
Socially conscious insurer Lemonade makes first entry into UK market October 3, 2022 New York insuretech company Lemonade Inc today launched in the UK market with a view to disrupting Britain’s centuries-old insurance sector with its socially-conscious, AI-driven business model. The digital insurer aims to break the “cycle of distrust that plagues the insurance industry” with its pledge to cap its margins at 25 per cent by donating [...]
Semiconductor supply to be tight until end of 2023, says Stellantis boss October 2, 2022 The supply of critical semiconductors is expected to remain tight until the end of next year, the boss of Fiat carmaker Stellantis said today. Speaking to French newspaper Le Parisien, Carlos Tavaresn said: “The situation will remain very complicated until the end of 2023, then will ease a little. “Semiconductor manufacturers have an interest in making [...]
Credit Suisse chief looks to soothe staff concerns over bank’s stability October 2, 2022 The chief of beleaguered lender Credit Suisse has stepped into to soothe staff concerns over the financial stability of the bank, as it prepares to publish a major strategic review this month.
Retail traders look to profit from tumbling pound October 2, 2022 Retail traders have been looking to follow the lead of hedge funds in the past week and capitalise on wild swings in the value of the sterling, sparked by the government’s tax-cutting mini budget.
Explain decision to pull mortgage products, FCA warns lenders October 2, 2022 The chief of the City watchdog has fired a warning shot at lenders after banks pulled mortgage products from the market in droves this week amid extreme market volatility.
Moderna rejects request from China for Covid-19 vaccine technology October 2, 2022 Moderna has reportedly refused a request from China to reveal the technology behind its Covid-19 vaccine. The rejection prompted negotiations for its sale there to fall apart, the Financial Times reported, citing people familiar with the matter. The US pharmaceutical company remains “eager” to sell its product in China after negotiations between 2020 and 2021 [...]
British Steel’s Chinese owners push for Government bailout October 1, 2022 The owners of British Steel are seeking an urgent package of financial support from taxpayers, according to Sky News.
Energy bills rise to record highs despite Government support October 1, 2022 Household energy bills have climbed to all-time highs for millions of Brits today, despite a Government cap on costs per unit.
Rail strikes: Brits face worst disruption to rail network in decades October 1, 2022 The biggest rail strike in decades threatens to grind the the network to a halt today, forcing Brits to make new travel plans.