Tiktok to build $500m European data centre in Ireland August 6, 2020 Tiktok has plans to spend $500m (£375m) on building a data centre in Ireland, it said today, which will look after the short-form video app’s European user data. The stored data will include personal information such as phone numbers and location data, messages and videos. Such information is currently stored in the US, but Tiktok [...]
UK construction sector slashes more jobs despite post-lockdown boom August 6, 2020 The rate of UK construction job cuts increased sharply in July despite the industry’s fastest rise in output since 2015, a closely followed survey showed today. Around one-third of employers in the UK construction sector reported a decline in employment for July, IHS Markit’s UK Construction Purchasing’ Managers’ Index (PMI) report found. That came despite [...]
Will the Bank of England change its tune on the UK economy? August 5, 2020 The Bank of England will announce its latest monetary policy decision tomorrow, but investors and policymakers will be focused on whether Threadneedle Street has become more pessimistic about the UK economy. Two months ago, the BoE’s monetary policy committee (MPC) raised some eyebrows when it said the UK economy would suffer an unprecedented crash but [...]
SMMT: New UK car sales rise 11 per cent post-lockdown August 5, 2020 New UK car sales rose for the first time this year in July as dealerships enjoyed their first full month of trading since reopening after lockdown. According to new figures from the Society of Motor Manufacturers and Traders (SMMT), registrations rose 11.3 per cent last month as pent-up demand and special offers tempted consumers to [...]
Public Health England becomes UK’s biggest advertiser during lockdown August 4, 2020 Advertising spend in the UK almost halved during lockdown according to the latest figures, with Public Health England becoming the nation’s biggest advertiser over the course of the pandemic. Traditional advertising spend — including on TV, newspapers, radio, cinema and billboards — fell more than £1.1bn year on year between the start of lockdown and the [...]
Are you up to speed on major changes to business restructuring? August 4, 2020 | City Talk Among the many government schemes launched to help businesses during the COVID-19 pandemic, one valuable tool risks flying under the radar. The Corporate Insolvency and Governance Act 2020 represents the biggest change to UK restructuring legislation in a generation. It gives distressed companies new ways to address their difficulties while still remaining in control and [...]
Nobel Peace Prize winner John Hume dies aged 83 August 3, 2020 Nobel Peace Prize winner and former Irish politician John Hume has died aged 83. He passed away in Londonderry early this morning, following a short illness and ending a years-long battle with dementia. One of Ireland’s most well-known politicians in the second-half of the twentieth century, Hume was leader of the SDLP between 1979 and [...]