Severing EU-China ties would cost Germany six times as much as Brexit August 8, 2022 Severing ties between the European Union and China would cost Germany six times as much as Brexit, reveals a new study published today. The country’s automotive industry, among the biggest contributors to Germany’s top line GDP, would shrink nearly nine per cent if the EU cut trade links with Beijing, according to the IFO Institute. [...]
Government accused of ‘messy’ decision making in £63m Newport Wafer sale August 8, 2022 British and Welsh government have been accused of being a “mess” in deciding on the sale of the UK’s largest chipmaker, Newport Wafer Fab. Both governments missed the chance to halt the £63m sale of Newport Wafer to Chinese-owned Nexperia in 2021. The National Security and Investment law, introduced in January, sought to give minister [...]
Hargreaves Lansdown shares jump after profits beat gloomy estimates August 8, 2022 Shares in Hargreaves Lansdown surged nearly 10 per cent today after the retail investment platform beat analyst estimates last week with pre-tax profits of £269.2m.
Japan intends to keep stake in Russian oil and gas project despite Western exodus August 8, 2022 Japan will keep hold of its stake in an oil and gas project in Russia, despite Western energy giants abandoning projects in the country.
UK drafting plans to ‘significantly’ boost overseas recruits in NHS August 8, 2022 The UK government is drafting plans to “significantly” boost the number of overseas staff in the NHS to avert a winter crisis, according to the health secretary today. In a bid to combat worsening delays in the NHS, health secretary Steve Barclay told the Telegraph: “I have been working at pace over recent weeks to [...]
Maersk warns about logistics disruption if Felixstowe strike goes ahead August 8, 2022 The strike at the Port of Felixstowe could lead to significant disruption, Maersk said. In a notice published today, the shipping giant warned customers to expect “significant operational delays,” urging them to have contingency plans ready. “Our teams continue working hard on planning appropriate contingencies and expect to share concrete details and actions we are [...]
Rebels pull off City coup as Chris Sherwell is forced out as chairman of fund set up by Brooklyn Beckham’s father-in-law August 8, 2022 In a disagreement over the company’s future, the chairman of an investment fund founded by Brooklyn Beckham’s father-in-law has been ousted by rebel shareholders. A small majority of investors voted for a motion to remove Chris Sherwell from his position on the Trian Investors 1 board. “At a requisitioned EGM (extraordinary general meeting) of the [...]
SoftBank boss ‘ashamed’ as Vision Fund suffers $23.1bn loss August 8, 2022 Japanese investment giant SoftBank crashed to a $23.1bn loss in the second quarter of the year as its flagship Vision Funds were battered by the rout on global markets.
Veolia to pocket £2bn from Suez UK waste unit as CMA forces energy giant to sell August 8, 2022 Veolia said this afternoon it plans to sell Suez’s UK waste business to Macquarie for £2bn after regulators raised competition concerns. The French utilities giant agreed to buy smaller French competitor Suez in a £10.9bn deal last year. However, it has had to sell parts of Suez’s waste operations in numerous regions amid concerns over [...]
Lion sells beer brands Fourpure and Magic Rock to Odyssey Inns August 8, 2022 Australian beverage giant Lion has sold its UK operations, including craft beer brands Fourpure and Magic Rock to Odyssey Inns. Alongside the beer brands, Odyssey has also snapped up breweries and taprooms in London, Huddersfield and Holmfirth and the Little Creatures craft beer hospitality venue in Kings Cross. Lion, a subsidiary of Japanese drinks conglomerate [...]