Wall Street cheers Nvidia results as AI chip designer lives up to expectations August 24, 2023 Hunger for Nvidia’s artificial intelligence (AI) chips has propelled its sales to $13.5bn (£10.6bn) in its second quarter, more than doubling from a year ago. The American tech behemoth’s data centre business drove most of the sales, soaring 170 per cent compared to the same period last year, up to $10.3bn (£8.1bn). Nvidia’s data centre business sells the company’s [...]
Hays: Hiring slowdown hits profit as longtime boss steps down August 24, 2023 Global recruitment firm Hays has appointed a new chief executive after a near six month hunt for a new head. The London-listed company named Dirk Hann, its current managing director of Hays Germany and CEMEA as replacement for Alistair Cox, who said was stepping down after 15 years at the helm in February. Hann will [...]
Yevgeny Prigozhin: UK watching closely following reports of Wagner chief’s death in plane crash August 24, 2023 UK ministers are closely watching Russia following reports that the leader of the Wagner mercenary group died in a plane crash. Yevgeny Prigozhin, the Wagner chief, was reportedly on the passenger list of a private jet which went down almost 185 miles north of Moscow on Wednesday, according to Russian authorities. All 10 people on [...]
Liontrust shares surge as dramatic GAM takeover pursuit fails August 24, 2023 Liontrust's lengthy and dramatic pursuit of ailing Swiss fund manager GAM appears to have come to an unsuccessful end.
Post Office boss to return bonus pay linked to Horizon scandal August 24, 2023 The boss of the Post Office has said he will return all of his bonus payment linked to the Horizon inquiry regarding hundreds of wrongfully convicted postmasters. Nick Read, chief executive of the Post Office, also apologised again for “procedural and governance mistakes made” in the firm linking significant bonus payments to work related to [...]
The Notebook: Andy Silvester on how AI could save your August out-of-office, a dream headline and why GCSEs need a rethink August 24, 2023 Embrace the long break, even if it’s made my job harder August has never felt so – for want of a much better word – Augusty. It’s mighty quiet out there, and that isn’t just because of the City’s long-discussed issues attracting floats and the slowdown in M&A. Indeed, more and more of my contact [...]
Batting for business: England’s Jos Buttler on investing, Ben Stokes and life after sport August 24, 2023 England cricketer Jos Buttler is turning his hand to investing with the Player's Fund, launched this week.
China’s slumping economy signals the end of a high growth era August 24, 2023 Exports have slumped, growth has stalled and the economy even slipped into deflation. The youth unemployment figures have gotten so bad that the government has stopped publishing them. These figures - or their absence - reveals more than an economy struggling to grow after Covid. What they demonstrate is that China’s growth model over the past few decades has run out of steam.
Kemi Badenoch to meet with Tata Group boss while on G20 India visit August 24, 2023 Trade secretary Kemi Badenoch will meet with Indian ministers and business leaders – including Tata Group boss Natarajan Chandrasekaran – during her visit for the G20. It comes amid the UK’s 12th round of negotiations to secure a UK-India trade deal with British negotiators gearing up for “ambitious” and “complex” discussions, sources say. Landing in [...]
Which? urges Ofcom to probe Virgin Media rate hikes August 24, 2023 Which? has called on Ofcom to probe Virgin Media’s pricing tactics, accusing it of “egregious” tactics and “woeful” customer service. The consumer champ said Virgin could be breaking the law by giving itself “sweeping powers” to hike broadband bills by “unlimited sums” whenever it feels like it. Plus, the telecoms company is reportedly slapping on [...]
