UK employers warn of mass job losses in digital revolution June 24, 2019 New technology and automation mean as many as 40 per cent of jobs are expected to change significantly or become redundant in the next five years, the Open University (OU) has said. Read more: Former City minister calls for action on skills shortages Nearly 90 per cent of organisations admit their staff lack digital skills, [...]
UK car industry sees worst month for six years in May, Natwest says June 24, 2019 The UK’s car industry suffered its worst month for business conditions in six-and-a-half years in May, according to a new survey by Natwest, as Brexit and a global slowdown continued to hurt the sector. Read more: Pound falls as UK economy shrinks 0.4 per cent in April British car makers last month saw the steepest [...]
Nanoco loses £17m contract as Apple abandons iPhone project June 23, 2019 Apple’s about-face on an iPhone camera project caused UK tech firm Nanoco to lose three quarters of its value, as the California giant cancelled a contract worth £17.1m. Nanoco told investors on Friday a major “US customer” had not renewed a contract with the firm, leading shares to fall 74 per cent in its worst [...]
EDF seeks guarantee for nuclear project June 23, 2019 French energy giant EDF wants a government guarantee of help if a £20bn nuclear power station runs over budget. The firm is telling potential investors in its Sizewell C plant that it wants ministers to step in with a guarantee on the project, the Sunday Times reported. Read more: Government headache as Hitachi pulls out [...]
Trump says he is not looking for war with Iran as further sanctions imposed June 23, 2019 US President Donald Trump said he was “not looking for war” with Iran in an NBC interview broadcast today. Trump said he will impose further sanctions on Iran from today, but also said he would be willing to find a deal to help Iran’s struggling economy. “I think they want to negotiate. And I think [...]
Bitcoin surges past $11,000 for first time since 2018 June 23, 2019 Bitcoin jumped past the $11,000 (£8,640) barrier over the weekend for the first time since January 2018. The cryptocurrency passed $10,000 on Saturday for the time since March 2018 before surging to a high of $11,121, according to data from Coindesk. Late last night it was trading just above $11,000. Last night’s price puts the [...]
Activist investor Coast Capital rails against First franchise bid June 23, 2019 An activist investor vying to shake up First Group has warned that it will pull out of a contract to run one of the UK’s leading rail franchises if it succeeds in toppling the firm’s management at a showdown on Tuesday. Coast Capital, which owns a near 10 per cent stake in transport giant First, [...]
Hargreaves Lansdown execs to defer bonuses amid Woodford fund troubles June 23, 2019 Two senior executives at Hargreaves Lansdown have echoed the actions of the firm’s boss after volunteering to defer their bonuses in the wake of an investment scandal involving Neil Woodford. Research director Mark Dampier and chief investment officer Lee Gardhouse have shelved their annual bonuses as their investment platform faces growing pressure over its backing [...]
Pensions Regulator boss to face questions from MPs over Arcadia deal June 23, 2019 The boss of the Pensions Regulator (TPR) is set to face a grilling from an influential committee of MPs later this week over the watchdog’s deal with Sir Philip Green to help save his fashion empire from collapse. Charles Counsell, the chief executive of TPR, is to appear before politicians just weeks after Green agreed [...]
Trump says he could demote US Fed chair Powell but has not threatened to do so June 23, 2019 US President Donald Trump said he has the power to demote US Federal Reserve chair Jerome Powell, but has not threatened to do so. “I didn’t ever threaten to demote him,” Trump said in an NBC interview broadcast yesterday. “I’d be able to do that if I wanted to, but I haven’t suggested that.” Trump [...]