BT: Departing Jansen’s investment in fibre and Openreach pays off with revenue jump July 27, 2023 Telecoms giant BT has today reported a notch up in revenue after continued successful roll out of their Openreach full fibre broadband. The British mobile network operator’s revenue grew to nearly £5.2m in the first quarter this year, up four per cent from the same period in 2022. This was mainly driven by revenue from [...]
Mark Kleinman: Natwest’s future, Ovo Energy and Hargreaves Lansdown’s search for a successor July 27, 2023 Mark Kleinman is City editor at Sky News What next for Natwest? Somebody with a tighter grip at the top, and that’s just the start Banking with the human touch: that’s how Coutts, the high net worth bank owned by Natwest Group, likes to position itself. Like so many corporate slogans, however, it often bears [...]
British car production rebounds thanks to record electric vehicle boost July 27, 2023 UK car production jumped 11.7 per cent in the first six months of the year, industry figures show, marking a major rebound from the pandemic-induced lows of 2022. According to the Society of Motor Manufacturers and Traders (SMMT), 450,168 units were made in the six months from January, with June the fifth consecutive month of [...]
IQE meets £52m revenue targets amid challenging semiconductor market July 26, 2023 Global semiconductor supplier IQE has performed in line with expectations during the first half of the year. The British manufacturer will hit a revenue of “at least” £52m in line with market guidance and management expectations, IQE said today in an unaudited pre-close trading update for the six months ended 30 June 2023. The AIM-listed [...]
Sinead O’Connor dead: Irish legend dies after long mental health battle July 26, 2023 The Irish singer Sinead O’Connor has died after a long battle with her mental health. O’Connor was 56 and will be remembered most fondly for her 1990 cover of Prince’s Nothing Compares 2 U. She retired from the music industry in 2021, having released 10 studio albums, with one more to come posthumously, called No [...]
Google and Microsoft AI showdown continues July 26, 2023 After Microsoft and Google’s parent company, Alphabet, reported better-than-expected results yesterday, analysts say the race to dominate the burgeoning AI field is moving quickly. Alphabet’s robust performance saw a 3.3 per cent surge in ad revenue, as search revenue hit $42.63bn (£32.98bn), causing shares to climb six per cent on Wednesday. Despite the market applause, [...]
Investors prepare to see if British Airways owner will soar this summer July 26, 2023 British Airways owner IAG is set to report its half year results this Friday, amid what is widely touted as the most important summer for airlines in years. Aviation has experienced an extraordinary boom in demand over the last six months as it enters the first truly restriction free, high volume period since before the [...]
The Square Mile Gears Up For City Giving Day 2023! July 26, 2023 | Sponsored As the countdown begins for City Giving Day 2023, businesses across the Square Mile are starting to announce their plans for the annual event – from a brand-new live online auction to “knit for the community” being supported by the Lady Mayoress, Felicity Lyons. Coming into its 10th year, City Giving Day is an annual [...]
Musk’s mad superapp-etite: Why his ‘everything app’ might miss the mark July 26, 2023 Another week, another Elon Musk melodrama. In yet another episode of his theatrics, the tech-obsessed billionaire unveiled his latest surprise this week: a dramatic overhaul of Twitter and rebrand of it as ‘X’. Musk said the name ‘Twitter’ “does not make sense” after the original short-messaging ethos with a 140 character limit having been scrapped [...]
Loss of tax-free shopping costing the UK £4.1bn, say London bosses July 26, 2023 Scrapping the tourist tax could generate £4.1bn annually for the UK economy, new research suggests, as a cluster of prominent business owners call for the government to reinstate VAT shopping for international tourists. Rishi Sunak scrapped the tax which saw international shoppers able to claim 20 per cent back with their purchases. It was largely [...]