CMA: Hitachi takeover of Thales’ rail signalling unit won’t impact London Tube projects August 23, 2023 Hitachi’s £1.4bn takeover of Thales’ rail signalling business won’t impact competition in the market for supplying signalling systems for the London Underground, the UK’s antitrust agency said today. The proposed deal led the Competition and Markets Authority to raise competition concerns back in December, as Hitachi and Thales are two of the main suppliers of [...]
Ocado unveils price cuts on 200 goods as shares rise slightly August 23, 2023 Ocado’s share price grew just under one per cent on Wednesday following news it would slash prices on 200 more goods to entice customers. In recent months the tech-driven supermarket, which is owned as part of a joint venture with M&S, has been distancing itself from its reputation as an upmarket grocer with the brand [...]
Bitcoin finds its feet while Ethereum continues to stumble August 23, 2023 Bitcoin is trading around $26k this morning, virtually unmoved from yesterday, while Ethereum has drifted into the negative by 1.4%.
Waitrose: Supermarket gets with the times and launches £5 meal deal August 23, 2023 Upmarket grocer Waitrose has followed in the footsteps of its fellow highstreet stores and launched a meal deal offer. It will launch the British lunchtime staple, which usually consists of a sandwich, drink and snack, on the 30th of August, pricing it at £5. Waitrose has sold pre-packaged sandwiches and wraps in its stores but [...]
Homes more affordable but borrowers stretched by rising mortgage costs August 23, 2023 The cost of a typical house is 6.7 times average earnings in Britain despite the recent slowdown in the property market, according to new figures. Mortgage lender Halifax said this is down from a record high of 7.3 times average earnings last summer, when a UK home cost an average £293,586 and the average annual [...]
Still going strong: Traders all-in on Nvidia hype train August 23, 2023 Nvidia’s shares hit an all-time high on Tuesday, just before the chip designer shares its earnings later today. Stock in the Nasdaq-listed company soared to an all-time high of $481.87 on Tuesday at market open before dipping 2.76 per cent again yesterday. On Monday, the shares received an eight per cent boost. It surpassed its [...]
Reckitt: Retiring CFO to be replaced by Nike finance boss August 23, 2023 Consumer goods giant Reckitt has announced the retirement of its chief financial officer, Jeff Carr, drafting in a business veteran from Nike to replace him. The firm said that Carr will step down next March after nearly four years at the company, with Reckitt praising him for his reducing its net debt and guiding the [...]
Blitz spirit may be overdone but there’s a lesson in taking quick action August 23, 2023 The worst fire in the City’s history was not, in fact, the Great Fire of 1666. It came on a Sunday night in December 1940, when seemingly half of the City was blitzed into oblivion. The other half took its punishment on other nights in that terrible few months. Amongst the many indignities suffered by [...]
Fivefold jump in freight train cancellations threatens to derail firms’ green logistics plans August 23, 2023 A fivefold increase in the number of freight train cancellations threatens undermining a number of firms’ recent decisions to start transporting goods by rail in a bid to reduce their carbon footprints. Freight cancellations between the financial years 2021/22 and 2022/23 rose from 2,492 to 12,708, according to data from a Freedom of Information request [...]
A gig in five years: An immersive dream or virtual insanity? August 23, 2023 The pandemic is over and live music is back. But as the music industry cheers the return of gigs, a number of tech companies are hoping to radically change the way we consume live events in the future.