More than 70,000 retail jobs lost amid high street struggles July 25, 2019 More than 70,000 retail jobs were lost over the last year as high street stores battle slowing sales and changing consumer habits. The total number of employees fell by 2.3 per cent in the second quarter, amounting to around 72,000 jobs being lost year-on year. Read more: Joules defies retail anguish with growth across the [...]
Boris Johnson assembles his quickfire cabinet July 24, 2019 Boris Johnson oversaw one of the most brutal cabinet culls in UK political history tonight, replacing a string of big-name MPs with some of his closest supporters. Within hours of arriving in Downing Street Johnson had appointed Sajid Javid as chancellor, Dominic Raab as foreign secretary, Priti Patel as home secretary, and Liz Truss as [...]
Facebook beats estimates after record $5bn fine over privacy violations July 24, 2019 Revenue at Facebook in its second quarter has topped analysts’ estimates, hours after it agreed to pay a record $5bn penalty to the US Federal Trade Commission (FTC) relating to violations of its users’ privacy rights. In the second consecutive quarter for beating expectations, Facebook’s revenue rose to $16.9bn from $13.2bn a year ago, surpassing [...]
Tesla revenues fall short of expectations despite record cars built July 24, 2019 Electric car company Tesla posted second-quarter revenue below analysts’ expectations, pushing its shares down 10 per cent to $239.24 in after-hours trading. Read more: Tesla shares rally as firm makes record number of deliveries Total revenues climbed to $6.35bn (£5.09bn) from $4bn a year earlier, but this was below the $6.41bn expected by analysts. Yet [...]
Uber and rival Ola sniffing around London’s Addison Lee July 24, 2019 Uber and Indian ride-hailing firm Ola are mulling bids for London-based taxi firm Addison Lee, which could create a powerful force in one of the world’s biggest private transport markets. Read more: Uber rival Viavan wins three year license renewal from TfL The US giant and Ola are two of “a handful” of companies talking [...]
Retailers and bar chains set to cash in on heatwave July 24, 2019 This week’s heat wave could prove a bonus for retailers and pub chains which have struggled this year in comparison with 2018’s glorious summer. Temperatures tomorrow could smash the UK record for the hottest day ever with the Met Office predicting the mercury could rise to a maximum of 39℃. Russ Mould, investment director at [...]
London set for commuter chaos as Greater Anglia and others reduce services in 37C heat July 24, 2019 Londoners face sweltering rush-hour delays tomorrow with rail groups urging travellers to avoid using trains as record temperatures could buckle the tracks. Greater Anglia, which runs trains into the City’s Liverpool Street station, said this evening it will significantly reduce its service across its network across East Anglia and London. Read more: London heatwave: Temperatures [...]
Metro Bank profits plunge as it bids goodbye to chairman Vernon Hill July 24, 2019 Metro Bank’s woes were laid bare today after the troubled high street lender posted a downbeat financial performance and called time on its colourful founder’s role as chairman. Read more: Metro Bank confirms £500m Cerberus loan talks The under-fire challenger bank reported a sharp drop in profits for the six months to 30 June as [...]
Space, the investment frontier: The companies that are reaching for the stars July 24, 2019 When Neil Armstrong was the first man to walk on the moon 50 years ago, space was the exclusive domain of two superpowers. Now it has become perhaps the ultimate competitive arena for two tech giants — not to mention a host of other private enterprises that see untold promise and profits in reaching for [...]
Boris Johnson promises Brexit on 31 October ‘no ifs no buts’ in first speech as Prime Minister July 24, 2019 Boris Johnson threw down the gauntlet to Brussels in his first speech as Prime Minister as he vowed to take the UK out of the EU on 31 October “no ifs, no buts”. Speaking outside Downing Street after meeting with the Queen in Buckingham Palace, Johnson stayed true to his campaign pledges to deliver Brexit [...]