China urges Hinkley approval as its state media scolds security concerns August 1, 2016 China urged the UK government to press ahead with the Hinkley Point C nuclear power plant, after it delayed making a final decision until October. Reports suggest Prime Minister Theresa May pushed back final approval last week because of security concerns regarding the involvement of China's state nuclear company, which would own about a third of the project. [...]
Google parent Alphabet’s life sciences arm and GSK are teaming up and investing millions into bioelectronics August 1, 2016 Google's parent company Alphabet and pharma firm GSK are banding together to form a new company that will explore the science behind using small electronics to treat disease. The pair will plough £540m over the next seven years into Galvani Bioelectronics, which will explore technology which combines electronics and biology to treat illnesses, with headquarters in the UK. Alphabet's Verily Life [...]
Trinity Mirror boss: New Day failed because consumers didn’t want what they said they wanted August 1, 2016 Trinity Mirror’s New Day newspaper – launched this year and closed after less than three months – failed because consumers did not want what they said they wanted, according to the publisher’s chief executive. Asked why the daily title did not succeed, Simon Fox told City A.M.: “I think because, at the end of the day, what [...]
Manufacturing stutters forward in the Eurozone as PMI dips slightly August 1, 2016 Factories in the Eurozone entered the summer with a slight wobble, as output dipped and fundamental weaknesses in the manufacturing sector appeared stubborn. The purchasing managers' index (PMI) for manufacturing across the single currency bloc slipped to 52 in June, down from 52.8 in July, on a reading where scores above 50 mark expansion. It [...]
What is an industrial strategy? A senior committee of MPs has launched an inquiry into the government’s plans August 1, 2016 Prime Minister Theresa May's plans to launch a new industrial strategy are being examined by MPs this morning after a senior committee launched an inquiry. The Business, Innovation and Skills committee is seeking to ascertain “what the government means by industrial strategy”, and how interventionist May's government should be. Committee chair Iain Wright said: “I am [...]
The fur flies on Downing Street as two of politics’ top cats get their claws out August 1, 2016 Two of UK politics' most senior moggies had to be forcibly separated this morning after reportedly engaging in a brutal fight in Downing Street. A Downing Street photographer captured 10 Downing Street's Larry fighting with the Foreign Office's "chief mouser" Palmerston earlier today. Massive fight in Downing St was horrible to watch which I tried to [...]
Five things you need to know about the Uber Didi Chuxing deal August 1, 2016 Uber and Didi have thrown in the towel on their costly rivalry with a deal to merge in China, worth a reported $35bn. Here's what you need to know. 1. Profits matter Uber was burning more than $1bn a year on its Chinese operations, becoming its largest market, but not making any profit from it. That's what boss Travis Kalanick [...]
Fintech startup wants individual investors to buy big corporate bonds August 1, 2016 Fintech start-up wiseAlpha wants smaller investors to take a bite out of the multi-billion pound corporate bond market. The online investment platform is widening access to individual corporate bonds for UK companies such Enterprise Inns, Vue Entertainment and New Look for as little as £100. wiseAlpha will issue notes, which are backed by loans or bonds it [...]
Uber is merging its China business with arch rival Didi Chuxing August 1, 2016 Ride-hailing app Uber is merging its Chinese operations with its biggest rival in the region, Didi Chuxing, signalling an end to a long-standing and expensive rivalry. Didi has confirmed earlier reports of a deal between the two, saying it will acquire Uber's China assets. In return, Uber will take a 17.7 per cent stake in Didi, while Uber China's shareholders [...]
In numbers: Remain campaigners and Downing St aides to get gongs – but how does Cameron’s honours list compare to previous PMs? August 1, 2016 Former Prime Minister David Cameron is facing fury over this morning over honours expected to be delivered to former members of staff and EU referendum campaigners. The Sunday Times reported that Cameron will hand out 48 gongs in his resignation honours, with exactly half predicted for former Downing Street staff. The nominations have led to the [...]