Playtech plunges after Hong Kong bidder backs out July 14, 2022 Playtech said Hong-Kong firm TTB remains supportive of the board despite failed takeover talks because of "challenging underlying market conditions".
Lithium batteries are the ‘new oil’ as Panasonic unveils $4bn gigafactory July 14, 2022 The demand for lithium batteries, key components in electric vehicles (EVs), have skyrocketed in recent months – with onlookers, including Elon Musk, saying they are the new oil. Japanese tech giant Panasonic secured approval for a $4bn (£3.3bn) battery plant on Wednesday night, in a bid to keep up with demand from EV makers. Panasonic [...]
London’s Royal Albert Docks: PwC liquidators brought in after Chinese firm severed from development deal July 14, 2022 Administrators have been called in to liquidate firms involved in a major regeneration project at the Royal Albert Docks. PwC appointed three joint liquidators for 23 firms within the east London site, after the China-based ABP Group failed to pay creditors over the last two years. Mayor Sadiq Khan tore up an agreement with ABP, [...]
Calls grow to pause benefits sanctions until merciless cost-of-living crisis has calmed down July 14, 2022 Benefits sanctions should be paused by the UK government until the cost-of-living crisis has been resolved, Citizens Advice Scotland has said. Advice from the charity on sanctions to Universal Credit rose by 5 per cent in 2021-22, research published today indicated. With inflation rising and impacting on the cost of goods, Citizens Advice said a [...]
Brussels slashes EU growth forecasts as euro faces ‘end of the beginning’ of US dollar slide July 14, 2022 The worst inflation surge in a generation driven by Russia’s invasion of Ukraine will choke European economic growth, revealed fresh forecasts published today. Predictions for output growth this year among the 27 members of the European Union (EU) remained unchanged at 2.7 per cent, but the European Commission (EC) downgraded expansion in 2023 by nearly [...]
21 killed and 100 wounded in central Ukraine: Russian Army accused of ‘open act of terrorism’ July 14, 2022 Around 21 people were killed and more than 100 wounded after Russian missiles struck a city in central Ukraine. The country’s president called the attack “an open act of terrorism” against civilians in locations without military value. Ukraine’s national police said three missiles hit an office building and damaged nearby residential buildings in Vinnytsia, which [...]
Long read: TikTok’s march to the top by no means inevitable July 14, 2022 Ian Whittaker is twice winner of the City A.M. Analyst of the Year as well as a judge on this year’s awards, and founder of advisory firm Liberty Sky Advisors Given investors’ embrace of capitalism, it is ironic that their view of Tech – especially when it comes to the leading players – can be [...]
MPs urge ministers to back ‘all in’ recycling return scheme July 14, 2022 Some 20 MPs have urged the environment minister to back a scheme that would see Brits charged extra for purchasing drinks in single-use containers, redeemable upon recycling. Cross-party MPs urged George Eustice to “introduce the most ambitious scheme possible,” pointing to successful Deposit Return Schemes (DRS) across the globe. A scheme to encourage consumers to [...]
Solar tech specialist Naked Energy targets £10m funding round to power Stateside dreams July 14, 2022 Naked Energy has opened its Series B funding round - targeting £10m-plus to fund its Stateside expansion plans and to fund its products.
Exclusive: 75 per cent of corporate legal departments are over budget July 14, 2022 The majority of corporate legal departments are running over budget, with almost a third doing so “substantially”. Around sixty per cent have seen an increase in their workload over the past year, but they have struggled to cope with budgetary constraints, and are over-spending. The data was published in the 2022 State of the Corporate [...]