Broadcom’s $69bn VMware deal wins provisional UK clearance July 19, 2023 Britain’s competition regulator provisionally cleared U.S. tech company Broadcom’s $69bn purchase of VMware on Wednesday, saying the deal would not weaken competition in the supply of critical computer server products. The Competition and Markets Authority’s (CMA) provisional approval of the takeover – Broadcom’s biggest ever – follows a go-ahead from European Union regulators last week [...]
UK profit warnings hit highest yearly level since 2008, outside of pandemic July 19, 2023 The proportion of UK-listed companies that issued profit warnings in the past year was higher than any year since 2008, outside of the pandemic, according to new analysis. It comes as higher borrowing costs and a tougher sales environment have weighed heavily on businesses. Companies listed on the London Stock Exchange issued 66 profit warnings [...]
Cleverly calls for global cooperation at first UN Security Council meeting on AI July 18, 2023 James Cleverly called for global governance of artificial intelligence as it “knows no borders” at the first UN Security Council meeting on the issue. The Foreign Secretary said the technology would “fundamentally alter every aspect of human life” and could “enhance or disrupt global strategic stability”. The UK chaired the first UN Security Council session on the [...]
Network Rail tumbled to £1.1bn loss after ‘deeply bruising’ year of strikes July 18, 2023 Network Rail tumbled to a £1.1 billion loss for the past year as it was impacted by strike action and higher interest payments on its debts. The body, which owns and manages the infrastructure of most of the UK’s railway network, saw losses grow for the year to March 31 from a £324 million profit [...]
McDonald’s UK apologises after 100 workers allege sexual harassment or bullying July 18, 2023 The boss of McDonald’s in the UK has apologised after more than 100 workers at the fast food chain, past and present, alleged they had been sexually harassed or assaulted or subjected to racism or bullying. Alistair Macrow told the BBC the company had “fallen short” in some cases after the corporation spoke to dozens [...]
Five mayors preparing legal action against 1,000 rail ticket office closures – but Sadiq Khan not asked July 18, 2023 Greater Manchester mayor Andy Burnham and four other mayors are preparing to take legal action against train operators in an effort to stop the closure of just under 1,000 ticket offices. Industry body Rail Delivery Group drew up plans to close the offices across the country and will move onto station concourses to assist passengers [...]
The Notebook: Ed Perry and Rosie Brown on hiring prison leavers, shopping local and saving our soil July 18, 2023 Ed Perry and Rosie Brown are the sibling owners of COOK, the ‘force for good’ frozen food innovator Closer link between prisons and firms can work for all The government’s call last week for businesses to hire more prison leavers is to be applauded. At a time when the public sector is short of good [...]
Kremlin seizes Danone and Carlsberg subsidiaries in latest sanctions pushback July 17, 2023 The Russian state has taken control of French yoghurt maker Danone’s Russian subsidiary along with beer company Carlsberg’s stake in a local brewer, according to a decree signed by President Vladimir Putin on Sunday. The decree said that foreign-owned stakes in Danone Russia and Baltika Breweries were being put under the “temporary management” of government property agency Rosimushchestvo. It comes after the Russian subsidiaries of Germany’s Uniper and Finland’s Fortum were taken under state control in April. The Kremlin warned [...]
Royal Mail scoops five year deal for delivery of passports, visas and travel docs July 17, 2023 Royal Mail has won a five-year contract for the collection and delivery of passports and supporting documents including UK Visas and Immigration (UKVI) travel documents. The contract also includes the delivery of internal mail between HM Passport Office offices and other Government offices. Royal Mail will also be working with the General Register Office on [...]
Microsoft pens agreement to keep Call of Duty on Playstation after Activision mega-deal July 17, 2023 Microsoft has signed an agreement to keep Call of Duty on PlayStation following the acquisition of Activision Blizzard, Microsoft Gaming CEO Phil Spencer said in a tweet. A deal to keep Call of Duty on Playstation could further ease concerns surrounding the acquisition’s impact on competition. Speaking on the agreement, Microsoft President Brad Smith said in a tweet, “Even after we cross the finish line [...]
