Goldman Sachs cooperating with US government probes into SVB collapse May 4, 2023 Goldman Sachs Group said in a filing on Thursday it is cooperating with government probes into collapsed Silicon Valley Bank. The Wall Street bank is “cooperating with and providing information to various governmental bodies in connection with their investigations and inquiries” into SVB, including the two companies’ dealings in March. Goldman was involved in key events before SVB’s [...]
Morning in the City: Live news and updates as Shell and Next update May 4, 2023 Good morning and welcome to City A.M.’s Square Mile live blog…
The Square Mile and Me: Fintech supremo Tim Levene on Moscow’s vodka scene, Coya City and a bold call for 2023 May 4, 2023 The fintech fund boss and founder of Crussh and Flutter strolls down memory lane in City A.M.'s weekly Q&A
Coronation: Flight restrictions to be imposed over central London May 3, 2023 Flight restrictions affecting light aircraft and drones will be imposed above central London on Friday and Saturday due to the coronation. Transport Secretary Mark Harper has banned aircraft from flying below 2,500 feet in an area which includes Buckingham Palace and Westminster Abbey “on advice from the Metropolitan Police Service”, according to a notice to [...]
Haleon: Flu season and Chinese pain relief give GSK spin-out a boost May 3, 2023 A “strong” cold and flu season and the end of Chinese lockdowns contributed to a healthy revenue boost for Haleon, the spin-out of GSK’s consumer healthcare division. Organic revenues within the group were up 9.9 per cent, with operating profit hitting £627m – reflecting a large reduction in the costs of spinning out the business [...]
Musk relaunches Tesla flagship model at lower price as supply chain backlog lifts May 3, 2023 Tesla Inc has resumed taking orders for its Model 3 long-range version in the United States, the company’s website showed late on Tuesday, after a temporary halt last year due to delivery backlogs. The long-range version of the entry-level Model 3 is priced at $47,240 currently, about 18.5% less than the $57,990 it was priced at [...]
Tax smoothies and ban smoking: George Osborne’s prescription for Britain May 3, 2023 The former Chancellor George Osborne has said the government should extend taxes on sugary drinks to fruit juices and begin the process of phasing out smoking. Speaking to the Times, the now chair of the British Museum said it was time to “look at the long-term legality of smoking.” Osborne, who introduced a limited tax [...]
Uber confident on profit as US demand rebounds in 2023 May 2, 2023 Uber forecast quarterly core earnings above estimates on Tuesday, after a surge in demand for travel and food delivery helped the US ride-sharing giant report better-than-expected results for the January-March period. Shares of the company rose 7 per cent and helped drive small gains in those of rival Lyft, which reports earnings on Thursday. Uber is benefiting from its [...]
Tinder owner Match Group swipes left on Russia pledging exit by June 30 May 2, 2023 Tinder owner Match Group has said it will quit Russia by June 30, citing the need to protect human rights, one of many Western firms to leave since Moscow sent troops into Ukraine last year. “We are committed to protecting human rights,” Match said in an annual impact report published on Monday. “Our brands are [...]
Tesco, Sainsbury’s face calls for investigation into ‘profiteering’ as prices soar May 2, 2023 An inquiry should be commissioned into whether supermarkets have been “profiteering” during the cost-of-living crisis, the Liberal Democrats have said. Party leader Sir Ed Davey is calling for the competition watchdog to start an investigation into whether food retailers put up the price of goods by more than was necessary to cover the cost of [...]
