Toyota eyes EV sales boom in China as firm helped by easing supply chain issues May 10, 2023 Toyota Motor Corp on Wednesday said it expects operating profit to climb 10 per cent this business year, with a five-fold jump in pure electric vehicle (EV) sales amid an easing in global supply chain disruption from a shortage of chips. The growth plan was unveiled by new CEO Koji Sato, installed last month, and [...]
Elf Bar warned by advertising watchdog after banning Tiktok vape promotions May 10, 2023 Two Tiktok posts by influencers promoting vapes have been banned for breaking rules prohibiting e-cigarette advertising on social media. The first post from the account @Panaxhe_ shows a young man selecting a blueberry-flavoured Elf Bar for breakfast from a fridge full of the brightly-coloured devices before returning later for a kiwi passion fruit-flavoured vape for lunch. The second showed former Gogglebox [...]
English rugby bans high-ranking official from Twickenham for using N-word May 10, 2023 A former Rugby Football Union council member has been banned from Twickenham after admitting making racist comments at a Six Nations match last year. Alex Murphy said to an unnamed volunteer as they walked to the council box at the England v Wales game in 2022, “You realise they don’t let n****** in the Royal [...]
Lord Pannick: Activision hires top KC for £55bn Microsoft takeover legal challenge May 10, 2023 Computer Games company Activision Blizzard has hired Boris Johnson’s former lawyer to represent it in a £55 billion legal battle with the competition watchdog. Lord David Pannick KC, who represented the ex-prime minister through the partygate hearings, will be representing the games giant at a Competition Appeal Tribunal, the Financial Times reported. It comes after [...]
Morning in the City: News and market updates, live May 10, 2023 Good morning and welcome to City A.M.’s morning liveblog.
Sorry about the takeover, but welcome to the board: Suisse boss to join UBS top team May 9, 2023 Credit Suisse’s boss will join the board of UBS after it closes its rescue takeover of the Swiss banking rival. It is part of a major leadership reshuffle two months after the Government-led rescue takeover of Credit Suisse in a 3.25 billion US dollar (£2.64 billion) deal by UBS. Ulrich Korner, who joined Credit Suisse [...]
Minister under fire for Hong Kong trade trip May 9, 2023 A leading Hong Kong rights activist, exiled in London, has described the first visit of a UK minister to the territory since 2018 as “unimaginable”. Dominic Johnson, a business minister, was in Hong Kong this weekend “as part of [his] mission to promote the UK as a leading destination for investment and trade”. “Hong Kong [...]
Return to sender: Royal Mail boss ‘set to quit’ after bruising strike battle May 9, 2023 The embattled Simon Thompson's departure from Royal Mail could be announced as soon as this week, according to City sources
Morning in the City: News and market updates, live May 9, 2023 Good morning and welcome to City A.M.’s live blog as the Square Mile returns to work after the Coronation weekend.
UN Nuclear chief: “Potentially dangerous” situation near Ukraine nuclear plant May 7, 2023 The head of the U.N.’s nuclear power watchdog warned on Saturday that the situation around the Russian-held Zaporizhzhia nuclear station has become “potentially dangerous” as Moscow-installed officials began evacuating people from nearby areas. Rafael Grossi, director general of the International Atomic Energy Agency (IAEA), called for measures to ensure the safe operation of Europe’s largest nuclear plant [...]
