Heatwave: Extreme Red warning announced as temperatures to fetch record-breaking 40c next week July 15, 2022 The UK Met Office has issued a red extreme heat warning as temperatures of 40c are forecast for the first time. The move comes ahead of forecasts that next week on Monday and Tuesday it is expected to reach between 38 and 40 degrees. The record temperature for the UK is 38.7C reached in 2019. [...]
UK braces itself for nation-wide disruption as 40,000 workers announce another two days of rail strikes July 15, 2022 The UK will need to brace itself for nation-wide disruption as 40,000 rail members of the union RMT announced late last night an additional two days’ strike on 18 and 20 August. RMT members working at Network Rail and 14 other operators announced earlier this week they will also walk out on 27 July in [...]
Saudis now second-largest investor in Aston Martin as £653m raised to pay off debts July 15, 2022 Saudi sovereign wealth fund PIF has become the second-largest shareholder in UK luxury car maker Aston Martin, sending shares up 25 per cent. The fund, controlled by Saudi Crown Prince Mohammed bin Salman (MBS), will own a 16.7 per cent stake in the marquee. This will be behind the 18.3 per cent owned by Canadian [...]
Pharma giant has another PCR test approved amid massive blow to Covid-19 revenue July 15, 2022 Covid-19 test maker Novacyt has had another PCR test approved for use in the UK, just a week after a damning trading update signalled the need to diversify its portfolio. The London-listed firm, which operates in both the UK and Paris, said the new test removes the need for manual extraction, which it hopes will [...]
Latest Chinese economic data sends shockwaves through Asia as world’s second-largest market shrinks July 15, 2022 After Shanghai and other cities shut down to fight coronavirus outbreaks, China’s economy contracted in the three months ending in June compared with the previous quarter. The world’s second-largest economy shrank by 2.6 per cent, down from the January-March period’s already weak 1.4 per cent, official data showed today. Activity was “much weaker than expected”, [...]
Amazon goes on UK hiring spree as e-com giant creates 4,000 new jobs July 15, 2022 Amazon has gone on a hiring spree in the UK, creating more than 4,000 permanent jobs this year. Spread across the UK, the new jobs will include positions at the Wakefield and Knowsley new fulfilment centres, where staff pack and ship orders. Corporate and technology as well as product management and software development jobs will [...]
NFT marketplace OpenSea lays off 20 per cent of staff as crypto crash persists July 15, 2022 OpenSea, the world’s biggest NFT marketplace, has cut 20 per cent of its staff as the severe crypto rout hits firms across the industry. CEO Devin FInzer announced the cuts yesterday, saying, “We have entered an unprecedented combination of crypto winter and broad economic instability, and we need to prepare the company for the possibility [...]
Europe biggest market for US crude oil for first time in six years as Russia-Ukraine war rages on July 15, 2022 For the first time in six years, Europe was the top market for US crude oil as the Russia-Ukraine war continues to impact global markets. Europe overtook Asia, the previous top market, and received 213.1m barrels of crude while Asia received 191.1m barrels of American crude in the first five months of 2022, US Census [...]
Taiwanese iPhone maker confirms over £670m stake in ailing Chinese chip firm July 15, 2022 Taiwanese iPhone manufacturer Foxconn has confirmed today it has bought a considerable stake in China’s top chip maker Tsinghua Unigroup, after media speculation earlier in the week. Foxconn, also known as Hon Hai Precision Industry, said it had bought a 17.8 per cent stake in the beleaguered chip firm, in an investment it added is [...]
Tory leadership race: Knives are out as Johnson backs ‘anyone but Rishi’ while Mordaunt and Truss scrap for support July 15, 2022 Knives are out in the final stages of the Conservative leadership contest, with Prime Minister Boris Johnson backing “anyone but Rishi” and eliminated candidates nailing their colours to the mast. While the Prime Minister has refused to back any one candidate, a source told the Times “the whole No 10 team hates Rishi” because he [...]