Nvidia: Analysts say “more juice for the orange” as share price spikes August 20, 2023 Ahead of its second-quarter results, American chip designer Nvidia is riding high after a successful first half, with shares skyrocketing over 200 per cent since January, and analysts foreseeing more gains. Nvidia, the S&P 500’s star of the year, is anticipated to report a 65 per cent year on year sales surge to $11.1bn (£8.7bn). Earnings [...]
Banks to snub Treasury meeting as UK oil and gas sector struggles for financing August 20, 2023 The UK’s oil and gas sector faces the growing prospect of a cash crunch, with the Treasury’s latest attempts to lure lenders unlikely to succeed.
UK spent over £46m on Australia and New Zealand trade deals August 20, 2023 The UK government spent more than £46m on negotiating just two trade deals last year, it has been revealed. Ministers shelled out £46.2m during 2022-23 securing and implementing new trade deals with Australia and New Zealand, according to a recent parliamentary written question. Concerns have been raised over the expected benefit from the Australian and [...]
HomeServe founder pours £110m in crusade to revive flailing British high street August 20, 2023 HomeServe founder Richard Harpin is injecting £110m of his own cash into medium-sized businesses, aiming to breathe life back into the UK’s beleaguered high streets. After cashing in on the sale of insurance company HomeServe to Brookfield last year for a cool £4.1bn, the home repairs mogul Harpin said he is trying to “help others [...]
M&S digital chief exits amid business boom August 20, 2023 The top dog behind Marks & Spencer’s digital growth is reportedly leaving the retailer just months after being promoted. Chief digital and technology officer Jeremy Pee, who landed the position in January, is understood to be leaving the business to return to Canada. According to a report in The Sunday Times, M&S’s co-chief executive officer [...]
Coca-Cola HBC faces questions over Russia operations August 20, 2023 Questions are being asked about the extent of Coca Cola HBC’s operations in Russia after a report suggested the firm has not fully withdrawn from the country despite pledging to do so. The London-listed firm, which is the European bottler for the Coca-Cola Company, said in March 2022 that it was suspending all operations in [...]
Spike in UK car dealerships being snapped up as British firms go cheap August 20, 2023 UK car dealerships are increasingly being snapped up by overseas investors on the cheap amid a surge in dealmaking in the sector. There were around 20 overseas investments into UK dealer groups in the decade prior to 2019, while the three years post-Covid have already seen 10 transactions, with several set to be completed this [...]
Sunak pledges extra £100m to buy semiconductors as global AI race heats up August 20, 2023 Prime Minister Rishi Sunak is dedicating a further £100m of public funds to procure more semiconductors to help Britain in the global AI race. Through ongoing negotiations with tech giants Nvidia, AMD, and Intel, the government is looking to ramp up their chip supply and establish a national “AI Research Resource”, after a recent report [...]
Rishi Sunak says we’ll feel better off next year – but is the PM right? August 18, 2023 Rishi Sunak has pledged Brits will all feel better off next year, as he said he “passionately believes” he can bring down inflation and ease the cost of living crisis. Speaking to the Times, the prime minister vowed to be disciplined on public spending and tax rates in a bid to revive the UK’s economic [...]
Explainer: Ukraine is one step closer to getting F-16 fighter jets August 18, 2023 After another week of violence and raid attacks, Ukraine finally received some positive news. The US finally showed a strong sense of urgency around sending F-16 fighter jets from Washington, after months of stalling. Anthony Blinken, the US Secretary of State, reached out to his counterparts in the Netherlands and Denmark to reiterate that Ukraine [...]
