HSBC sets up Communist Party cadre in China business July 21, 2022 Britain’s biggest lender and Asia-focused HSBC has set up a Chinese Communist Party (CCP) cadre in its China investment bank. The bank has become the first outside China to install a CCP committee, according to reports today in the Financial Times. Chinese law enforces domestic finance firms to have party officials in positions of authority. The [...]
BT Sport and Sky Sports consult on freelancer day rates as watchdog continues probe on ‘cartel’ July 21, 2022 BT Sport and Sky are said to have consulted on day rates for freelancers just as the UK competition watchdog continues its investigation into potential collusion in sports broadcasting.
Blockchain.com lays off a quarter of staff as fallout from crypto crash worsens July 21, 2022 Blockchain.com cut 25 per cent of its workforce, about 150 people, as the impact of the “crypto winter” and the Three Arrows Capital collapse worsens. The crypto exchange blamed the sharp crash in the crypto market and high financial losses for the decision, according to CoinDesk. Blockchain.com will lose $270m from a loan to bankrupt [...]
People’s Energy pair set for hefty dividend pay-out July 21, 2022 Founders of a failed energy supplier could share a hefty pay-out of more than £50m, despite its collapse leaving a whopping £283m bill for consumers.
Tory leadership race: New poll gives Truss big lead over Sunak July 21, 2022 Rishi Sunak and Liz Truss duelled over their tax plans today as a new poll gave the foreign secretary a commanding lead in the Tory leadership race. A YouGov poll of Tory members put Truss on 62 per cent and Sunak on 38 per cent on the first day of a six-week campaign to become [...]
Centrica granted licence to reopen UK’s largest gas storage site as winter crisis looms July 21, 2022 Centrica has been awarded a licence to reopen the UK's largest gas storage site, boosting plans to shore up domestic energy supplies ahead of winter.
Jitters over global recession send FTSE 100-listed industrial giants lower July 21, 2022 Jitters over a slowdown in the global economy pulled industrial stocks lower today, taming gains on London’s FTSE 100, but Frasers group boosts mid-cap index. The capital’s premier index edged 0.09 per cent higher to 7,270.51 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Rail union reissues strike ballots after first vote misses legal threshold July 21, 2022 The union TSSA has reissued ballots for strike action at four train operators after earlier votes didn’t reach the legal threshold for walking out. The ballots will be held at West Midlands Trains, Greater Anglia, Northern and TransPennine Express from 28 July to 25 August. The initial ballots gave the union a mandate for action [...]
Microsoft slashes open job listings as hiring slows down July 21, 2022 Microsoft is cutting several open job listings as it slows hiring amidst a gloomy economic outlook. The tech giant is expanding the hiring slowdown first announced in May and will continue this for the foreseeable future, Bloomberg reported, as a weakening economy dents confidence. Hiring will slowdown in the company’s Azure business and security software [...]
FirstGroup US bidder granted deadline extension July 21, 2022 FirstGroup’s US bidder I Squared was given until 18 August to make a firm offer for the transport giant. The company said it allowed the deadline extension as discussions with the US private equity were still ongoing. This was the second extension in a month provided to I Squared after FirstGroup rejected its £1.9bn offer [...]