EV and hybrid to make 80 per cent of Ferrari’s sales by 2030 June 16, 2022 Electric and hybrid vehicles will make 80 per cent of Ferrari’s sales by 2030, according to the company. The luxury marquee pledged to build “even more unique” cars as it makes the transition to net-zero. “Everything we do will always focus on being distinctively Ferrari,” chairman John Elkann told investors this morning. “The opportunity set of [...]
Government food strategy proposals ‘do not go far enough’, say top investors June 16, 2022 A group of top investors representing £6tn in assets have slammed the government’s response to the national food strategy today and called for mandatory health and sustainability reporting in the UK.
Revlon files for bankruptcy as lipstick seller reassures customers trading will continue June 16, 2022 Revlon has filed for bankruptcy as the cosmetics firm has struggled under the weight of hefty debt, supply chain disruption and sky-rocketing headwinds. The 90-year-old make-up maker said that it anticipated some $75m in financing from existing lenders, contingent on court approval. The rescue cash will help it to keep daily operations up and running. [...]
Shapps confirms plan to use agency workers to replace striking rail staff June 16, 2022 Transport secretary Grant Shapps has confirmed he will use agency workers to cover for striking rail staff if industrial action drags on throughout the summer. Shapps today said the government was looking at a “look at a full range of options” to minimise disruption from striking workers, adding that people with “transferable skills” could be asked [...]
BlackRock launches programme to spur net-zero transition and strengthen energy security June 16, 2022 The world’s biggest asset manager BlackRock has today launched a new investment infrastructure programme designed to help boost energy security and drive the transition to cleaner energy among high-polluting firms.
Halfords calls on government to rethink scrapping of EV grant June 16, 2022 Motoring retailer Halfords has called on the government to rethink its decision to scrap the £1,500 grant for the purchase of new electric cars. The Department for Transport (DfT) announced on Tuesday it would “refocus” the funding available away from the grant to encourage other road users, including taxis and delivery vans, to make the [...]
Bank of England hikes rates for fifth time in a row and warns of 11 per cent inflation surge June 16, 2022 The Bank of England today hiked interest rates for the fifth time in a row for the first time since it was given control of monetary policy a quarter of a century ago as it pushes to cool the highest rise in living costs for a generation. A majority of the Bank’s nine rate setters, [...]
Google’s copycat ‘YouTube Shorts’ nabs 1.5bn monthly users as it tries to keep up with TikTok June 16, 2022 YouTube's TikTok copycat video format is scoring big, with the Google-owned firm announcing that its YouTube Shorts is now being watched by over 1.5 billion logged-in users every month.
UK small businesses being priced out of cyber insurance by high premiums and cost-of-living crunch June 16, 2022 The UK’s small businesses are increasingly being priced out of cyber insurance policies, due to sky-high premiums and the cost-of-living crunch. Almost a third (29 per cent) of companies with fewer than 250 staff cancelled their cyber insurance policies last year, as part of efforts to cut costs, research from GlobalData shows. A further 17.3 [...]
Prime Minister Boris Johnson aims to protect more households with £1bn energy efficiency boost June 16, 2022 Prime Minister Boris Johnson is drawing up plans to insulate hundreds of thousands more homes before winter with up to £1bn funding.