Watches of Switzerland revenues tick past £400m as buyers ‘invest in a rational indulgence’ February 9, 2023 Watches of Switzerland has seen its revenues soar in the three months ending 29 January with the group crediting a demand for luxury watches for the sales boost. The UK-based retailer, which stocks Swiss watches such as Rolex and Tag Heuer, brought in revenues of £407m in its third quarter, up 17 per cent from [...]
Google: Alphabet’s shares tank eight per cent after video blunder involving its version of ChatGPT February 9, 2023 Google’s parent company Alphabet’s shares plummeted yesterday after its brand new AI chatbot answered a question wrong during a promotional video. The owner of Google saw shares crash almost eight per cent on Wednesday, causing a $100bn (£82bn) loss to its value. This comes after Alphabet announced that Google would be launching an integrating its [...]
Standard Chartered shares jump as investors swoop on renewed reports of possible £28.8bn First Abu Dhabi deal February 9, 2023 Shares in Standard Chartered jumped around 10 per cent following reports from Bloomberg that First Abu Dhabi Bank was still interested in making an offer for the London-headquartered lender. According to Bloomberg, figures at First Abu Dhabi Bank were working on a possible takeover “under the code name Silver-Foxtrot” once the cooling-off period required by [...]
Gold prices rebound as investors hope for softer US rate rises February 9, 2023 Despite continued rate rises from the US Federal Reserve, gold prices are recovering as other central banks around the world buy-up the precious metal and investors foresee softer rate hikes.
Airbus struggles to appoint finance chief ahead of CFO Assam’s departure in three weeks February 9, 2023 Airbus is drawing up a stop-gap succession for the role of chief financial officer after struggling to appoint a permanent successor to Dominik Asam, who joins German software group SAP in under three weeks, industry sources said. Barring a rapid breakthrough, the world’s largest plane maker may appoint an interim CFO after Asam steps down at the end of [...]
Bank of England governor Andrew Bailey ‘very uncertain’ about inflation decline February 9, 2023 The Bank of England’s governor, Andrew Bailey, has today admitted he is “very uncertain” about whether inflation will decline, forcing him to back another steep interest rate increase last week. Responding to a grilling by MPs on the commons treasury select committee, Bailey, 63, said he wants to see “more evidence” of the rate of [...]
Investigation finds rail union TSSA tolerated bullying, harassment and sexual assault February 9, 2023 An independent inquiry has found instances of bullying, discrimination and sexual harassment at the rail union TSSA. Launched in the summer and led by Baroness Helena Kennedy, the investigation uncovered a series of “appalling accidents.” These ranged from coercive behaviour and humiliation to inappropriate and sexual touching as well as sexual assault. Baroness Kennedy wrote [...]
Coincover announces $30m funding to fuel growth and foster trust in digital assets February 9, 2023 Asset protection technology company Coincover has been handed $30 million in funding led by Silicon Valley’s Foundation Capital.
Rail: Inquiry launched into anti-strike bill amid concerns about minimum service level proposal February 9, 2023 The Commons’ transport select committee has launched an inquiry into how the controversial anti-strike bill will apply to the railway sector – with a focus on the demand for minimum service levels. The legislation – which is having its second reading in the Lords on 21 February – will guarantee minimum service levels during strike [...]
The digital pound is right on time to underpin the UK’s transition to a digital economy February 9, 2023 Jannah Patchay reflects on the government announcement that it would 'actively explore' the introduction of a UK CBDC.
