German tyre maker Continental posts €251m loss following ‘hurricane’ of setbacks August 9, 2022 German automotive manufacturer Continental has posted a quarterly loss of €251m (£212.3m) as it described the current setbacks as a “hurricane.” “The current headwind is rather like a hurricane and will not subside any time soon,” commented chief financial officer Katja Dürrfeld. “Given this environment, we have performed well and become more resilient. “We cannot [...]
Recession fears outweigh tight supplies as oil market rally remains elusive August 9, 2022 Oil prices edged up today, even though both major benchmarks remain weighed down by fears of a drawn-out economic downturn.
Demand for hybrid work sends IWG plc revenues soaring August 9, 2022 Strong demand for hybrid working sent revenues of IWG (International Workplace Group) plc surging in the first half of 2022. The global workspace provider reported revenues of £1.29bn, a 23 per cent rise from 2021’s first half as demand for flexible, hybrid working rose and inflation around the world climbed. IWG’s revenue grew more than [...]
National Grid confirms winter outlook on the way after Norway warns of export curbs August 9, 2022 National Grid will provide a full winter outlook in the coming months to ensure its forecasts are as "robust as possible."
Carbon labelling on groceries could be on the way for shoppers after new research August 9, 2022 Shoppers might soon have to reckon with the environmental impact of food as well as the health implications, after researchers work out the carbon footprint of certain products. Researchers from Oxford University have used public databases to work out the composition of thousands of foods and their impact on the planet. Scores are calculated on [...]
US inflation shock may force Fed to launch one percentage point rate hike August 9, 2022 A scorching set of new US inflation numbers released tomorrow could force the Federal Reserve to hike interest rates by the steepest amount in recent history, Wall Street analysts are betting. Fed chief Jerome Powell and co have already had to hike the world’s most important interest rate by 225 basis points since March, the [...]
Former CMA chair sues crypto exchanges Binance, Kraken and others for £10bn August 9, 2022 Crypto exchanges Binance, Kraken, and others have been hit with a £10bn lawsuit in a competition dispute by the former chair of the UK’s Competition and Markets Authority. Lord David Currie filed the claim against the two crypto giants as well as exchanges Bittylicious and ShapeShift for delisting the BSV cryptocurrency from their platforms, Financial [...]
Taxpayer-backed Pollen on the verge of collapse August 9, 2022 An events start-up backed by the British Business Bank's Future Fund is on the verge of collapse just months after it bagged a $150m funding injection, according to reports today.
Hosepipe ban across London and south England expected within weeks, reveals Thames Water August 9, 2022 Thames Water plans to bring in a hosepipe ban in the coming weeks, amid the prospect of another heatwave this month.
150,000 Brits join campaign to force govt to do more to tackle cost of living crisis August 9, 2022 A new campaign to press the Government to do more to tackle the cost-of-living crisis is backed by more than 150,000 people. Union leaders said the fact so many people signed up to the Enough is Enough campaign on its first day on Monday shows the popularity of the initiative. Dave Ward, general secretary of [...]