Peloton slashes 500 more jobs as it pins hope on turnaround plan October 6, 2022 Peloton said it plans to slash 500 more jobs, as chief executive Barry McCarthy gives the company six months to turn its run of bad luck around. The dramatic move knocks about 12 per cent from the exercise bike maker’s headcount to roughly 3,800 employees globally, and adds to the tide of staff cuts that [...]
Uber’s former security boss found guilty of criminal obstruction over data hack October 6, 2022 Uber’s former head of security has been found guilty of criminal obstruction for failing to tell US authorities about a 2016 database hack. The breach impacted 57 million Uber records and 600,000 driving-licence numbers, and led to former top dog Joe Sullivan to be fired in 2017. The San Francisco jury convicted Sullivan this week of [...]
Analysis: Bank of England averts market spiral, but pressure remains October 6, 2022 Hat tip to Mel Stride, Tory MP and chief of the treasury committee, for asking the Bank of England to explain why they launched an emergency support package for the UK debt market last week. If he hadn’t, we wouldn’t know there was a “self-reinforcing spiral” – how deputy governor at the Bank Jon Cunliffe [...]
MPs set to scrutinise ESG industry amid greenwashing concerns October 6, 2022 MPs are set to scrutinise the environmental, social and governance (ESG) investing industry next week amid growing concerns of 'greenwashing'.
Aldi kickstarts festive hiring spree with 3,000 new jobs this Christmas October 6, 2022 Aldi has launched its festive hiring spree, revealing plans to create around 3,000 new jobs this Christmas. The discounter has created more than 2,000 temporary and permanent store jobs this winter. It also unveiled plans for more than 850 roles across its 11 regional distribution centres around the UK, for jobs including warehouse selectors, logistics [...]
Watchdog: Network Rail staff paid more than market rates October 6, 2022 Network Rail maintenance earn around a fifth more than similar roles in the rest of the industry, Data published today by rail watchdog the Office for Rail and Road (ORR) showed that the average total reward – which include pension costs and other measurable benefits – was 18 per cent above the average. The analysis [...]
UK likely to avoid blackouts this winter with LNG boost, says National Grid October 6, 2022 The UK should have sufficient gas supplies to meet its energy needs this winter, revealed the National Grid, despite fears over blackouts.
Halma inks second multi-million deal of the week after upbeat financial year October 6, 2022 British safety equipment company Halma has bought a German electricals safety testing company for around £50m, in its second acquisition announcement of the week following an upbeat financial year. The London-listed group bought Wertheim-based WEETECH on a cash and debt-free basis, which will play an critical role in addressing the challenge of energy transition and [...]
Analysts slash Motorpoint’s forecast following £10.5m profit slump October 6, 2022 Analysts at Liberum have slashed their forecasts for Motorpoint after the car dealer reported a £10.5m slump in profit. “We reduce our FY23E profit before tax by 50 per cent to £7m,” Liberum’s senior analyst Sanjay Vidyarthi wrote. Motorpoint – which posted today a record £785m revenue for the six months ended 30 June – [...]
Pension cash could flow into start-ups under new fee cap changes October 6, 2022 Pension cash could be freed up to fuel the growth of UK start-ups under new plans published today to loosen a cap on pension money management fees.