BHP announces record $9bn handout to investors as soaring coal prices fuel profits August 16, 2022 BHP is handing out record sums to shareholders, after the multinational miner delivered bumper profits fuelled by soaring coal prices.
Furious UK to launch dispute proceedings against EU this week for breaking Brexit trade deal August 16, 2022 The British government is planning to launch formal dispute proceedings against the European Union as soon as this week. The UK thinks Brussels is breaking their agreed post-Brexit trade agreement by excluding Britain from three international science projects, according to Bloomberg News. Britain is furious that the EU refuses to grant the UK access to [...]
Political chaos in Kenya deepens fast: Raila Odinga refuses to accept William Ruto’s presidential win August 16, 2022 Prolonged political chaos looms in Kenya as opposition leader Raila Odinga, the establishment’s favourite, declared this afternoon that he will not accept the official outcome of the 2022 presidential election. Yesterday, Kenya’s electoral committee said William Ruto won the election, which took place a week ago. However, Ruto’s opponent, Odinga, stated today that “a violation [...]
Inflation deals record blow to UK workers’ living standards August 16, 2022 Surging inflation has dealt a record blow to households’ wages in a sign the UK economy is tumbling into a sharp slowdown, official figures published today showed. Brits’ pay accounting for consumer price index inflation dropped 4.1 per cent over the last three months, the biggest drop since records began in 2001, according to the [...]
Company insolvencies jump as soaring costs batter the bottom line August 16, 2022 Company insolvencies surged in July as soaring costs continued to batter firms across England and Wales, official figures have revealed.
Mishcon de Reya spent £12m on shelved London IPO August 16, 2022 Mishcon de Reya spent almost £12m in readying itself to list on the London Stock Exchange, before shelving its initial public offering (IPO) in June. In a Companies House filing, the law firm said it spend more than £11.7m on preparing for its IPO before calling the public float off for the “foreseeable future due [...]
Walmart maintains outlook for next year as profits tighten against inflationary pressures August 16, 2022 US retail giant Walmart’s profits were eaten into by inflation as it maintains its outlook for the next financial year despite revenue being up 8.4 per cent. The supermarket chain took in $152.9bn in Q2 but said this strong growth was “partially driven by inflation”, which tempered its outlook, and its profits. Its comparative sales [...]
Elliott sheds SoftBank stake as investor grapples with tech rout August 16, 2022 Hedge fund Elliott Management has reportedly offloaded almost its entire stake in SoftBank this year as the Japanese investment giant grapples with a market downturn this year.
Big Tech outlier: Apple pushes for three day return to office policy August 16, 2022 Apple has called on employees to get back into office at least three days a week as the tech giant continues to defy work from home trends that dominate Silicon Valley.
Ofgem threatened with legal action if it doesn’t protect vulnerable customers from soaring energy bills August 16, 2022 Energy regulator Ofgem has been threatened with legal action if it fails to protect vulnerable customers from soaring energy bills. The Good Law Project has teamed up with anti-poverty groups urging it to ensure people can cope with bills, expected to reach upwards of £4,000 a year. This comes as the energy price cap is [...]