Sainsbury’s profits dip as supermarket giant battles to keep prices low November 3, 2022 Sainsbury’s has posted subdued half-year profits, after taking a hit to keep prices competitive for customers and boost pay for staff. The supermarket giant, which also owns Argos, said underlying pre-tax profit dipped eight per cent to £340m over the half-year to 17 September , compared with the same period last year. It had previously [...]
Royal Mail Black Friday strikes could spell mayhem for the whole delivery ecosystem November 3, 2022 ROYAL Mail strikes could cause mayhem for Christmas shopping, with 115,000 posties taking to the picket line at the end of this month. In an announcement late on Tuesday, the Communication Workers Union (CWU) said that it was moving ahead with four further days of strike action, including Black Friday, the largest online shopping day [...]
Delta boss: US’s appetite for transatlantic travel will not be over quickly November 3, 2022 Transatlantic travel is here to stay, said Ed Bastian, boss of US legacy carrier Delta. According to the chief executive, Americans’ appetite for hopping over the pond has been “truly unprecedented” following the reopening of air travel post pandemic. “So many Americans haven’t been able to go for up to three years,” he told journalists [...]
UK climate tech investment set to double November 3, 2022 Climate tech investment in the UK is on track to double this year after firms in the sector scooped up $7.5bn in the nine months to September, new research has revealed.
UK failing to capitalise on disease research as it lags behind Europe, says ABPI November 3, 2022 The UK is failing to capitalise on its world leading disease research, according to the country’s pharmaceutical body. The country could be unlocking significant economic benefits in better competing with its European rivals on genomics, the study of genomes which is crucial to understanding how diseases develop. In report published today by the Association of [...]
Home Office faces legal action over Manston overcrowding November 2, 2022 The Home Office is facing a judicial review over its treatment of detainees at the Manston immigration centre, the immigration minister said today.
Federal Reserve hikes rates 75bps again and Powell signals higher peak November 2, 2022 The US Federal Reserve today hoisted the world’s most important interest rate 75 basis points for the fourth time in a row and signalled the borrowing cost peak will be higher than previously thought, scrapping any bets on a so-called “Fed pivot”. The Washington headquartered central bank hiked rates to a target range of 3.75-four [...]
Glencore execs used private jets to fly cash bribes to Africa, court hears November 2, 2022 Glencore executives used private jets to fly millions of dollars in bribes to officials in Africa to boost their oil trading activities, a London Court heard today. Traders on Glencore’s London-based West Africa trading desk organised to have bribes, which were withdrawn from the commodity trader’s offices in Switzerland, flown to officials in Cameroon and [...]
UK looks at workers’ rights concessions in Qatar and Saudi trade talks November 2, 2022 The UK may demand a commitment to improvements in workers’ rights from Saudi Arabia and Qatar as a part of trade negotiations, according to the UK’s Middle East trade boss. Simon Penney yesterday told City A.M. that “the ambition is there in Gulf countries” to improve workers’ rights amid claims that thousands of people have died [...]
Court blocks ‘Essex boys’ traders’ bid to overturn City watchdog’s decision November 2, 2022 A group of oil traders, dubbed the “Essex boys,” who made $700m (£614m) from the collapse in oil prices that saw crude trade negatively at the start of Covid-19, have failed in their bid to overturn a decision by the UK’s financial watchdog to assist US authorities. Traders linked to oil brokerage Vega Capital London [...]