Johnson & Johnson cuts sales and profit forecasts in global economic downturn July 19, 2022 US pharmaceutical giant Johnson & Johnson has cut its sales and adjusted profit forecasts, as a post-lockdown slowdown and a global economic downturn collide. Sales are anticipated to be around $1bn less than bosses thought in April, in the range of $93.3bn and $94.3bn. In its latest quarter, Johnson & Johnson, which owns skincare brand [...]
Heatwave: 40c recorded for first time ever in UK at Heathrow July 19, 2022 History has been made with the 40 degree barrier mark being broken for the first time ever, recorded at London’s Heathrow airport. The news comes after the Met Office issued an extreme level four red weather warning for Monday and Tuesday, with it expected to exceed 40 degrees. Earlier in the day, Heathrow said there [...]
Liontrust hit by £500m outflows as investor jitters spread July 19, 2022 London-listed asset manager Liontrust revealed it had been hit by £500m of outflows in the three months to June today as investors continue to pull back from markets amid extreme volatility.
Covid cases triple and hospital cases double as hyper-infectious Omicron variants drive new Coronavirus wave July 19, 2022 The World Health Organisation said this afternoon that Coronavirus cases have tripled across Europe in the past six weeks, accounting for nearly half of infections globally. Hospital admission rates have also doubled, although intensive care admissions remain low. In a statement on Tuesday, the WHO’s Europe director Dr Hans Kluge described Covid-19 as “a nasty [...]
TikTok lays off staff while Apple and Goldman Sachs plan hiring slowdown as economic outlook dims July 19, 2022 TikTok has cut staff while Apple and Goldman Sachs will slow hiring as economic downturn concerns dampen confidence. TikTok laid off US staff and told European employees their jobs were at risk as part of a global restructuring move, the Wired reported. Some UK employees were informed that job losses will occur in several departments [...]
Clifford Chance partners see pay packets surge to record highs of more than £2m July 19, 2022 Partners at Clifford Chance are set to see their pay packets surge to £2m for the first time in the law firm’s history after the Magic Circle law firm revenues surged by 8 per cent to highs of £1.97bn. Clifford Chance’s equity partners will take home a record £2.04m this year after the law firm’s [...]
Steaming inflation cuts Brits’ spending power at fastest pace on record July 19, 2022 The number of Brits in full time work reached record highs in the three months to May as unemployment rates held at 3.8 per cent, official figures have revealed today.
Virgin Money to give out £1,000 bonuses to help staff deal with cost-of-living crunch July 19, 2022 Virgin Money today told staff it will be giving out £1,000 bonuses to all workers on salaries of less than £50,000 a year to help them deal with the UK’s cost-of-living crisis. In an internal memo seen by City A.M., Virgin Money chief executive David Duffy told staff earning less than £50,000 that they will [...]
Yü Group anticipates sharp rise in revenues as it prepares smart meter rollout July 19, 2022 Yü Group has posted a bullish trading update, with the challenger supplier expecting a 90 per cent boost to half-year revenues.
Rail network unable to cope with extreme heat as track hits 62C: ‘Just not built to withstand this temperature’ July 19, 2022 The hottest railway track reached a scorching 62C on Monday, as the Transport Secretary admitted it will take decades to upgrade existing lines to be more resilient. Grant Shapps conceded the UK’s transport network cannot cope with the extreme heat, saying that the Victorian-era infrastructure “just wasn’t built to withstand this type of temperature”. On [...]