Competition watchdog CMA launches probe into Morrisons takeover of McColl’s July 13, 2022 The CMA, the UK’s competition watchdog, confirmed this morning the launch of a ‘phase one’ investigation into Morrisons’ takeover of McColl’s. Bradford-based supermarket chain Morrisons snapped up McColl’s in a £190m rescue deal in May after the convenience chain collapsed into administration in light of soaring costs due to supply chain disruption, inflation and its [...]
UK fintech Zepz pushed back IPO plans amid accounting issues July 13, 2022 UK fintech firm Zepz was forced to delay its initial public offering plans after being hit by accounting difficulties and churn in its senior team, according to reports today.
Google slows down hiring for rest of 2022 amidst economic uncertainty July 13, 2022 Google will slow hiring for the rest of the year as economic gloom sets in. Sundar Pichai, CEO of Google parent company Alphabet, informed employees in an email yesterday, according to CNBC. “The uncertain global economic outlook has been top of mind,” he said. “Like all companies, we’re not immune to economic headwinds.” The company [...]
Rishi Sunak: I will run the economy like Margaret Thatcher if I am made PM July 13, 2022 Chancellor Rishi Sunak has said he will run the economy like Margaret Thatcher if he gets into Number 10. The former chancellor made his comments with a high-profile interview on Wednesday as he continues his bid to become prime minister, currently viewed as the frontrunner by many. Speaking to the Telegraph, he drew comparisons to [...]
BT execs urge unions to guarantee 999 services as nearly 40,000 gear up to strike July 13, 2022 BT executives have called on trade unions to guarantee that 999 services will not be impacted during impending strikes.
Brexit opportunities minister Jacob Rees-Mogg: I would refuse to serve in ‘socialist’ Rishi Sunak’s cabinet July 13, 2022 Boris Johnson ally Jacob Rees-Mogg has branded Rishi Sunak a ‘socialist’ and refused to serve in his cabinet should he become PM. The Brexit-backing Conservative MP hit out at the former chancellor’s “disloyalty” to the Prime Minister after he resigned last Tuesday. This comes after Rees-Mogg appeared to brand Sunak a socialist for high taxes [...]
Heatwave travel disruption: Train speed limits amid track buckling and increase in car breakdowns July 13, 2022 Network Rail has announced it will set a speed limit on trains amid the possibility of tracks buckling due to soaring soaring temperatures. The government-owned train operator explained that steel tracks are usually 20 degrees hotter compared with atmospheric temperatures. When air temperatures reach 30 degrees tracks could go up to 50 degrees, causing them [...]
JD Wetherspoon beer sales lag pre-Covid levels as recovery ‘more laborious than anticipated’ July 13, 2022 JD Wetherspoon has said sales of pints were eight per cent below pre-pandemic trading and it expects to post higher losses this year. While a “boom in pub sales” had been anticipated following the easing lockdown measures, recovery for many venues had been “slower and more laborious than was anticipated,” the budget pub chain said. [...]
Renold cuts debt and raises revenue in solid year July 13, 2022 Renold’s revenue grew 18.1 per cent to £195.2m while net debt dropped £4.6m to £13.8m for the year ended 31 March 2022. The manufacturer announced today that its operating profit had gone up from £11.4m in 2021 to £15.3m this year. The company recovered from the Covid pandemic and many of its businesses delivered were record [...]
Watchdog investigates big broadcasters for supposed antitrust breaches with freelance workers July 13, 2022 The UK watchdog has opened an investigation into ITV's purchase of freelance services, which support the production and broadcasting of sports content.