New York law firm struggles to find firm to process fee payments from sanctioned VTB Bank July 25, 2022 The law firm acting on behalf of VTB Bank has asked for more time to file its case, after warning that at least three financial institutions have refused to process legal fee payments from the sanctioned Russian bank, even after being assured that processing the payments would be legal. The New York law firm Brafman [...]
Avert economic damage rail strikes will cause, say London businesses July 25, 2022 London businesses have called on unions, operators and the government to find a solution to the ongoing railway strikes “and avert the economic damage” they will cause. “The week-long rail disruption in June caused footfall in the capital to drop by up to a quarter compared to the previous week,” Ruth Duston – chief executive [...]
Lastminute.com: CEO and COO arrested over covid fund misuse claims July 25, 2022 Lastminute.com has appointed an interim CEO following the dramatic arrest of its two directors in Switzerland. The online travel company was rocked on Monday when Fabio Cannavale (CEO) and Andrea Bertoli (COO) were held by Swiss authorities, under investigation for allegedly misusing Covid support funds. In a statement issued on Monday, the company said it [...]
TalkTV reaches only three per cent of Brits despite hefty investment July 25, 2022 TalkTV reaches only three per cent of the UK viewing population per month for an average visit length of eight seconds, according to data from Broadcasters’ Audience Research Board (BARB). As first reported by the Press Gazette, the Rupert Murdoch-backed channel has struggled to get off the ground, despite heavy investment in studio space and big [...]
All eyes on Silicon Valley as Big Tech braces itself for a tense earnings week July 25, 2022 2022 has undoubtedly been a year of turbulence for tech stocks, battling major sell-offs and supply chain woes.
‘Crumbling’ court buildings are worsening case backlog as repair works see more than 100 sitting days lost July 25, 2022 The Law Society has called for “widespread investment” in the criminal justice system after it was revealed that more than 100 court sitting days were lost in the first six months of 2022 due to repair works in England and Wales’ “crumbling” Crown Court estate. As of the end of June, 111 court sitting days [...]
Inflation shock sends chill through British factories, but hiring holds up July 25, 2022 A softening in the UK economy caused by surging inflation has clamped down on UK factories, a closely watched survey published today reveals. A net balance of six per cent of British manufacturers posted new order growth over the last three months, down sharply from 25 per cent in the three months to June, according [...]
OneWeb takeover by Chinese state-backed rival raises national security concerns July 25, 2022 The proposed takeover of British satellite darling OneWeb by French rival Eutelsat has caught scrutiny over national security. The joint company, estimated to be worth around $6bn (£4.9bn), would create a satellite and communications powerhouse to compete against Elon Musk’s SpaceX and Starlink – which currently dominates the satcoms industry. Eutelsat, which is partly owned [...]
Sausage roll-ing in to town: Greggs and Primark launch new fashion range with ‘snackfest’ tour July 25, 2022 Greggs and Primark are teaming up for a new clothing range, which will be launched on a ‘snackfest’ UK bus tour. The kings of sausage rolls and low cost clothes announced the new range on social media this morning. Gregs and Primark, which collaborated on a similar project earlier in the year, announced the range [...]
UK’s Insolvency Service uses new powers to crack down on Covid loan fraud July 25, 2022 The UK’s Insolvency Service has begun using new powers, given to it last December, to crack down on company directors that dissolve their firms to avoid making repayments on government backed loans. The Insolvency Service used its “tough new powers” to ban three individuals from acting as company directors, for dissolving their companies to avoid [...]