Hit from rising dollar pushes Wizz Air deeper into the red May 2, 2023 Budget airline Wizz Air has seen its losses widen dramatically as the company was forced to book a multimillion-euro charge because of the soaring US dollar. The business said that pre-tax loss had jumped from 120 million euros (£103 million) in the six months to the end of September last year to 390 million euros [...]
BP profits the “unearned windfalls of war” say Labour as windfall tax row heats up May 2, 2023 "Pearl-clutching" begins with Labour and Lib Dems plotting moves to toughen up windfall tax - despite BP paying a further £520m already
Brixton Academy: Petition to save venue heads towards hundreds of thousands May 2, 2023 An online petition to save the O2 Academy Brixton has surpassed 50,000 signatures. The south London music venue faces permanent closure after the Metropolitan Police urged the council to strip the venue of its licence. It comes after two people were killed on December 15, when fans without tickets tried to enter a show by [...]
Morning in the City: BP, HSBC, and market updates – live May 2, 2023 Welcome to City A.M.'s morning live blog, keeping you up to date with all you need to know from the Square Mile
No Yeezy No Problem: Adidas set to double down on US market despite Kanye bill April 30, 2023 Adidas, which has come under pressure after ending its lucrative Yeezy shoe partnership with Kanye West, is trying to grab a bigger slice of the U.S. sports market, the group’s regional head told the Wall Street Journal. “We want to double down on all of the things that are U.S.-centric, particularly around sport,” Rupert Campbell, [...]
Vestager: AI law on the way – but it might take a year April 30, 2023 The European Union is likely to reach a political agreement this year that will pave the way for the world’s first major artificial intelligence (AI) law, the bloc’s tech regulation chief Margrethe Vestager said on Sunday. This follows a preliminary deal reached on Thursday by members of the European Parliament to push through the draft of the [...]
Swiss spin off? UBS set to carve up Credit Suisse after shotgun marriage April 30, 2023 As UBS’s takeover of former rival Swiss bank Credit Suisse nears completion, details are emerging of what the new merged bank will look like. UBS is working towards spinning off the Swiss part of Credit Suisse and having the business’s current head, Andre Helfenstein, run it, NZZ am Sonntag reported on Sunday. The Swiss newspaper cited a [...]
Venkat: Barclays boss at ’95 per cent’ after cancer scare as he warns on UK economy April 30, 2023 The Barclays boss Venkat has said he is running at ’95 per cent’ after a cancer scare at the back end of last year. Coimbatore Sundararajan Venkatakrishnan, better known as Venkat, was diagnosed with non-Hodgkin lymphoma last autumn, but has told The Sunday Times that “my energy levels are 95 per cent – not 100 [...]
Militant rail unions blame Tories for FA Cup and Eurovision strike disruption April 30, 2023 The leader of the train drivers’ union has angrily attacked the Transport Secretary after he criticised a planned strike on the eve of the Eurovision Song Contest final for its impact on Ukraine. Union members will walk out on May 12 as part of a long-running dispute over pay, as well as on May 31 [...]
Foreign Secretary: China talks not a “comfortable chit chat” as hawks circle April 30, 2023 Dealing with China is not a “comfortable chit chat over tea and biscuits”, the Foreign Secretary has said. James Cleverly insisted it was important to maintain dialogue with Xi Jinping’s regime, as hawkish Conservatives urge him to take a harsher line with China over reported human rights abuses in Xinjiang province and Hong Kong. In [...]
