‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
SSP: Upper Crust owner’s UK recovery hampered by rail strikes as commuters stop buying baguettes February 16, 2023 Upper Crust owner SSP has seen the recovery in its UK arm hampered by repeated waves of strike action across railway networks. The company, which runs food outlets at transport sites such as airports and railway stations, revealed the performance of its UK and Ireland business lagged behind other regions globally due to train strike [...]
China sanctions US defence giants Lockheed Martin and Raytheon for supplying Taiwan weapons February 16, 2023 China imposed trade and investment sanctions on Lockheed Martin and a part of Raytheon for supplying weapons to Taiwan. The move steps up efforts to isolate the island democracy claimed by the ruling Communist Party as part of its territory. Lockheed Martin and Raytheon Missiles and Defence are barred from importing goods into China or [...]
Nestle: Cost inflation eats into KitKat maker’s profit as it tumbles 45 per cent to £8.4bn February 16, 2023 KitKat and Nescafe coffee maker Nestle has revealed its net profits tumbled by 45 per cent as cost inflation led the global food and drink giant to hike up the prices of its products. The Switzerland-headquartered company, which owns some of the world’s biggest food brands, said its net profits fell to 9.3 billion Swiss [...]
Russia pummels Ukraine with barrage of overnight missiles as targets in north, west, south, east and centre hit February 16, 2023 Russia again pummelled Ukraine with a barrage of cruise and other missiles on Thursday, hitting targets from east to west. Ukrainian authorities said one of the strikes killed a 79-year-old woman and injured at least seven other people. Russian forces used a variety of missile types, firing 36 in all in a two-hour overnight bombardment, [...]
Brexit is ‘only thing’ that divided Corbyn and Starmer in shadow cabinet, Diane Abbott says February 16, 2023 Jeremy Corbyn “in his heart of hearts is a Brexiter”, one of his longest-standing allies has said, backing up a suspicion critics held during the EU referendum. Diane Abbott, who served as his shadow home secretary, said on Wednesday that Mr Corbyn is “anti-EU” and saw it as “a conspiracy of business people”. He followed [...]
Morrisons has credit rating downgraded amid debt concerns February 15, 2023 Morrisons has had its credit rating cut after recording weaker sales and profits. Credit rating agency Moody’s downgraded the UK’s fifth largest supermarket chain as it cautioned that its ability to repay its roughly £7.5 billion of debts had moved to “negative” from stable. It reduced the firm’s existing overall credit rating one rung from [...]
Are house prices really going up? London had lowest change across UK with average in capital now £543,000 February 15, 2023 The average UK house price ended last year £26,000 higher than when 2022 started, although the annual pace of growth in property values is slowing. Property values increased by 9.8 per cent in the 12 months to December 2022, which was weaker than the 10.6 per cent annual growth recorded the previous month. London’s average [...]
Richard Branson’s failed Virgin Orbit satellite launch was caused by dislodged fuel filter February 15, 2023 A dislodged fuel filter caused last month’s failure of the first attempt to launch satellites into orbit from the UK, Virgin Orbit has said. This caused an engine to overheat, leading to the malfunction of components and the premature shutdown of the LauncherOne rocket’s thrust, according to the company founded by billionaire Sir Richard Branson. [...]
Nicola Sturgeon: SNP leader and Scotland’s First Minister expected to resign February 15, 2023 Nicola Sturgeon will stand down as First Minister of Scotland after eight years, the BBC has reported. The First Minister will speak at a hastily-arranged press conference from her residence at Bute House in Edinburgh at 11am. It is not yet clear if she will stand down immediately, or continue in the role until a new Scottish [...]
Twitter: Musk wants new CEO by end of year, as he warns of AI regulation and insists there are no aliens February 15, 2023 Billionaire Elon Musk has said he anticipates finding a chief executive for Twitter “probably toward the end of this year”. Speaking via a video call to the World Government Summit in Dubai, Musk said making sure the platform can function remained the most important thing for him. “I think I need to stabilise the organisation [...]
