Battery firm AMTE Power’s shares crash following urgent calls for fundraising June 15, 2023 Lithium-ion and battery producer AMTE Power’s shares crashed more than 70 per cent today, following an announcement that the company needed to raise new funds within the next few weeks. AMTE Power – who are currently set to build a £200m gigafactory in Dundee – said in the announcement that it needed to raise more [...]
Sunak defence deal takes off as UK and US launch space rocket June 15, 2023 A new space rocket is catalysing a defence deal struck by Prime Minister Rishi Sunak and president Joe Biden between the UK and the US last week. Oxford-based startup Pulsar Fusion and aerospace company Princeton Satellite Systems are joining forces to build a “hyper-fast” rocket which can travel from Earth to Saturn’s moons in under [...]
FTSE 100 close: London index reverses losses as Bunzl struggles June 15, 2023 London’s FTSE 100 was dragged lower today by investors piling out of outsourcer Bunzl despite the firm this morning raising its revenue forecast before reversing losses in the afternoon session. The capital’s premier index jumped 0.34 per cent to 7,628.27 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
Could private equity be low-cost air travel’s unlikely saviour? June 15, 2023 Air fares for passengers in Europe have spiked 23 per cent over the last year, propelled by lack of competitiveness in the sector and issues regarding the supply of new aircraft from major manufacturers Boeing and Airbus. In what were well-publicised comments at the time, budget airline Ryanair’s CEO Michael O’Leary proclaimed in August that [...]
UK safety tech sector to grow to £1bn by mid-2020s June 15, 2023 Safety tech – technology designed to promote a safer online environment – is experiencing rapid growth in the UK. The UK’s safety tech sector has achieved an annual revenue of £456m, shooting up 20 per cent from this time last year, a new government analysis reveals today. It bottles this success down to greater investment, [...]
Explainer: The story behind the “Never kissed a Tory” slogan June 15, 2023 British politics comes with its quirks and oddities, and one of them is the spat about the “Never kissed a Tory” motto. For some, it’s tribal politics; for others, it’s a fun joke. For Mark Drakeford, the First Minister of Wales, it is probably the second option. When he decided to post a picture wearing [...]
European Central Bank hikes rates 25 basis points to 2001 and hints at more to come June 15, 2023 The European Central Bank (ECB) today signed off what many thought would be its final interest rate rise, but lingering concerns about high inflation may lure the monetary authority into further increases, experts have bet. The monetary authority of the 20 countries using the euro sent borrowing costs up 25 basis points to 3.5 per [...]
London calling! Crypto industry’s big names are eyeing up the UK June 15, 2023 Dozens of crypto giants are hopeful of a more welcome environment in the UK after a massive clampdown in the US.
Artorius camp in confident mood ahead of Queen Elizabeth II Jubilee Stakes bid June 15, 2023 Co-trainer Sam Freedman believes Artorius is the one to beat in the G1 Queen Elizabeth II Jubilee Stakes, the highlight on the final day of Royal Ascot. Speaking from Charlie Fellowes’ yard in Newmarket on Thursday morning, Freedman, said: “Artorius travelled over well. He only lost 4kg on the flight, whereas last year he lost 9kg, and [...]
Tech Week Day Four: Chips will be the battleground on which the contest for tech innovation is fought June 15, 2023 The penultimate day of London Tech Week is a timely occasion to discuss an industry not just under the spotlight in the tech sector, but the business agenda more broadly. Semiconductors, or ‘chips’, are the building blocks of electronic devices driving our rapid technological advancement and economic development. In his opening speech this week, the [...]
