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 [...]
Construction giant Galliford snags £3.4bn in new contracts since start of the year July 14, 2022 British construction giant Galliford Try has snagged £3.4bn worth of new contracts since the beginning of the year, as it steams ahead with building despite economic hurdles. Bosses at the London-listed company said it expect full year pre-exceptional profit before tax to be at the upper end of current analyst forecasts, of between £16.4m and [...]
Nuclear fusion lures investors as scientists hope for new breakthroughs July 14, 2022 Nuclear fusion has enjoyed a huge bump-up in global investment over the past 12 months, raising hopes of a breakthrough.
New era for accountability as EU Commission chief slammed over texts with Pfizer CEO July 14, 2022 The president of the European Commission has been accused of maladministration by the EU watchdog today, over a hidden text exchange with Pfizer’s CEO during the pandemic. The messages, which have not yet been found, are thought to have helped the European Union get hold of 1.8bn Covid-19 vaccines, at a time of massive global [...]
Twitter faces major outage as users get locked out of accounts July 14, 2022 Thousands are reporting an outage on Twitter, with users being locked out of accounts. According to stats collected by DownDetector, issues first began to appear at around 12.55pm on July 14. The site showed that 50 per cent of users were experiencing problems, while 42 per cent are having trouble with the app. Users were [...]
Drivers at eight rail operators across UK to halt work and strike on July 30 July 14, 2022 Train drivers at eight rail companies will strike on July 30 in a dispute over pay, their union Aslef announced. The strike – which marks the train drivers’ first national walkout since 1995 – comes on the heels of RMT members at Network Rail and 14 other operators walking out on 27 July after they [...]
Stock market volatility stems profit slide at Morgan Stanley July 14, 2022 Strong trading activity driven by investors navigating choppy financial markets stemmed a profit slide at Wall Street investment bank Morgan Stanley, the firm announced today. A five per cent jump in equity net income in the three months to June compared to the same period a year ago kept the bank’s bottom line in reasonable [...]
Tory leadership race: UK retail titan Lord Stuart Rose backs Rishi Sunak July 14, 2022 The Conservative party should choose Rishi Sunak as its next leader as he has a “big brain” and understands “the need for us to get our economy back on track”, according to Asda chair Lord Stuart Rose. Rose – who was previously chief executive at Argos, Marks & Spencer and the Arcadia Group – said [...]
Return of loan loss reserves crimp JP Morgan profits July 14, 2022 Swelling reserves set aside to deal with a historic inflation surge raising the risk of US consumers defaulting on their debts has eroded investment banking giant JP Morgan’s profits, the firm announced today. Net income dropped 28 per cent in the second quarter compared to the same period last year, driven by a $428m (£360m) [...]
Ericsson confirm US authorities are still investigating possible ISIS payments as firm posts mixed bag results July 14, 2022 Ericsson confirmed that US authorities are still investigating possible payments to Islamic State (ISIS) by the company in Iraq. Posting half year results this morning, President and CEO of Ericsson Börje Ekholm said: “We continue to engage with the Department of Justice and the Securities and Exchange Commission in relation to the 2019 Iraq investigation [...]