Tui reduces loss to £135m but warns of threat posed by soaring fuel prices and cost-of-living crisis February 14, 2023 Travel firm Tui has posted a €153m (£135m) loss for the final three months of 2022 as the German company warned of potentially tougher times to come. The Hanover-based firm said the cost-of-living crisis could see demand for its holidays to fall as cash-strapped Europeans cancel trips abroad. Tui warned that the war in Ukraine [...]
Ukraine: Putin orders Wagner group and Russian troops to advance in ‘most sectors’ but MoD says gains won’t ‘achieve decisive effect’ February 14, 2023 Vladimir Putin’s troops have been commanded to advance in “most sectors” but are struggling to achieve a major breakthrough on the Ukrainian front line, British military chiefs have said. The Ministry of Defence (MoD) said on Tuesday that the Russians have “not massed sufficient offensive combat power” on any one axis to “achieve a decisive [...]
BBC ‘fully co-operating’ as offices raided by India tax officials after documentary on PM Narendra Modi February 14, 2023 Officials from India’s Income Tax department began conducting searches on Tuesday at the BBC’s offices in the capital, New Delhi. It comes weeks after the British broadcaster released a controversial documentary that examined prime minister Narendra Modi’s role during 2002 anti-Muslim riots. Teams from the tax department surveyed the BBC’s Delhi and Mumbai offices, the [...]
Ford to cut 1,300 UK jobs in major overhaul of European operations to refocus on EVs February 14, 2023 Ford has announced it will be scrapping 3,800 jobs across Europe, including 1,300 in the UK, over the next three years amid plans to reinvent the brand and focus on a smaller range of electric vehicles. The global carmaker said 2,800 engineering roles will be axed by 2025, and around 1,000 jobs in its administrative, marketing, [...]
FCA spares Amigo £72.9m fine to ensure burnt customers get redress February 14, 2023 The City watchdog has publicly censured beleaguered lender Amigo for a loan mis-selling scandal this morning but spared it a £72.9m fine, saying it would prevent the firm from paying out compensation to customers.
Coca-Cola bottling firm posts ‘record’ revenue despite exit from Russia and energy crisis eating into profits February 14, 2023 Coca-Cola’s bottling business today posted “record” results after bolstering its revenues through price increases, after its exit from Russia ate into profits. Coca-Cola Hellenic Bottling Company (HBC), which owns the bottling rights for Coca-Cola, saw its reported revenues surge 28.3 per cent to €9.2bn (£8.1bn). The uptick in revenues came as Coca-Cola HBC’s profits were [...]
Fintech trading platform Plus500 to put $100m back in shareholders’ pockets after bumper year February 14, 2023 Fintech trading platform Plus500 topped market expectations for the year today and announced it would put £82m ($100m) back in shareholders’ pockets after cashing in on “higher value” customers last year. In its preliminary full year results, the London-listed Israeli firm announced it would kick off a new $70m share buyback programme alongside a $30m [...]
The £200bn Covid savings war chest that could prevent a UK recession February 14, 2023 There’s a war chest of nearly £200bn – which started to be built up during the pandemic and has grown ever since – that could save the UK from recession. This may come as a surprise when all we hear from Westminster is how skint we are, but the stash of cash isn’t made up [...]
Planning overhaul needed for UK’s energy security, nuclear industry warns February 14, 2023 The nuclear industry has urged the government to make the planning system less hostile to new nuclear projects.
Reining in ChatGPT: AI tech titans must navigate a regulatory maze to thrive in the UK and beyond February 14, 2023 As ChatGPT continues to amaze, and Alphabet and others try to follow suit, Jess Jones explores some of the legal and regulatory challenges facing AI tech, and what they mean for the UK’s ambition to become a science superpower. “The genie is out of the bottle – and it’s hard to imagine how it goes [...]
