Looming trade war pushes stocks down and sends oil prices tumbling June 18, 2018 European stocks tumbled today and US oil prices fell after US President Donald Trump announced tariffs on Chinese goods and Beijing responded with similar measures, escalating fears of a trade war. The West Texas Intermediate (WTI) crude futures fell to their lowest level since April, dropping to to $63.59 per barrel before rallying slightly to [...]
Audi boss Rupert Stadler detained amid allegations of emission manipulation at Volkswagen June 18, 2018 Audi boss Rupert Stadler has been arrested this morning in connection with Volkswagen’s alleged manipulation of emissions controls. Stadler, who is chief executive of the German car manufacturer, has been detained amid a scandal in which cars sold in Europe are alleged to have had a software which turned emissions controls off during regular driving. [...]
Brexit dividend ‘won’t be anything like enough’ amount needed to fund £20bn NHS boost, Jeremy Hunt admits June 18, 2018 Health secretary Jeremy Hunt has admitted the so-called Brexit dividend will not be “anything like enough” to fund the £20bn boost to the NHS. The increase in NHS England spending will be the equivalent of a 3.4 per cent increase per year in real terms, below the 3.7 per cent historical annual rate of growth. [...]
Google to invest $550m into Chinese e-commerce site JD.com June 18, 2018 Google has announced it will be buying up $550m (£415m) of shares in Chinese e-commerce site JD.com, in an strategic partnership with the goal of expanding its reach in both south east Asia and in retail services. Google joins the ranks of existing investors like the Chinese social media giant Tencent, which is JD’s biggest [...]
CYBG and Virgin Money agree £1.7bn deal with Virgin Money boss Jayne-Anne Gadhia stepping down from chief exec role | City A.M. June 18, 2018 The owner of Clydesdale and Yorkshire banks, CYBG, confirmed this morning it had agreed a £1.7bn tie-up with Virgin Money, which it said will create “the UK’s first true national banking competitor to the status quo”. The terms of a recommended all-share offer have been agreed, and based on the closing price of 306p per [...]
Unilever is going to stop working with influencers who buy followers on social media June 18, 2018 Consumer goods giant Unilever is cutting ties with so-called “influencers” on social media in a bid to make advertising more transparent. Influencers, such as celebrities and social media personalities, help expand a company’s advertising reach and digital message by posting about the brand’s products for a certain fee. The more of an audience an influencer [...]
The NHS will continue to swallow money as fast as politicians can work their shovels…regardless of Brexit June 18, 2018 David Cameron said that his priority for government could be explained “in three letters: NHS.” That was in 2006. Four years later, his 2010 election campaign was built around a claim that he would “cut the deficit, not the NHS.” Today, Theresa May will formally announce an additional £20bn in NHS funding in a speech [...]
To beat the techlash, insert humans into the AI equation June 18, 2018 Looking for a change to the corporate grind? Fear not, in 2025 you’ll get one when the keyboard becomes obsolete and your voice takes over. At least this was the prediction of a technologist I interviewed last week, who made the point that voice recognition is going to transform the way we communicate. Read more: [...]
The EU’s new ‘carpet bomb’ copyright law heads to Brussels this week, as backlash mounts June 18, 2018 The European Union’s proposed Copyright Directive will be heading to a vote in the European parliament on 20 June, as pressure mounts from tech giants and data rights groups to fight its supposedly blanket terms. Under the provisions of the new Directive, any service that allows users to post text, sound, or video for public [...]
Amsterdam-based beer producer Heineken raises investment in UK pub estate June 18, 2018 Dutch beer giant Heineken is ramping up its investment in the company’s UK pub estate after announcing a further £44m injection today. In its largest ever annual investment into the firm’s leased pub business, Heineken is hoping it can boost its role within local economies as it aims to put the added funds into 500 [...]