Chinese-owned semiconductor firm buys Britain’s largest chip plant July 5, 2021 A Chinese-owned semiconductor firm has secured a deal to buy the UK’s largest chip producer, sparking further concerns about the sale of key British assets to foreign buyers. Nexperia, a Dutch firm owned by China’s Wingtech, today said it has taken full ownership of Newport Wafer Fab (NWF), which produces chips used in a range [...]
City watchdog rolls out ban on funeral provider cold calling July 5, 2021 The City watchdog has confirmed plans to ban cold calling by funeral plans providers as part of a wider crackdown on the industry. The Financial Conduct Authority (FCA) today unveiled new rules that companies will have to follow from 29 July 2022. In addition to the ban on cold calling, these include a guarantee that [...]
John Lewis and Waitrose to introduce flexible working for head office staff July 5, 2021 Bosses at John Lewis and Waitrose have confirmed they will introduce flexible working for all staff based at the company’s head offices. The announcement by the employee-owned retailer came after Boris Johnson confirmed plans to lift most lockdown restrictions on 19 July, including an end to the government’s work from home guidance. “If restrictions are [...]
US tech giants could face $28bn bill from global tax reforms July 5, 2021 US tech giants such as Google and Facebook could face a $28bn (£20bn) bill as part of radical plans to overhaul global corporation tax, new research has revealed. The Organisation for Economic Cooperation and Development (OECD) last week agreed on a new tax model to ensure companies pay tax in countries where they earn revenue, [...]
Facebook, Google and Twitter threaten to quit Hong Kong over new data laws July 5, 2021 Facebook, Google and Twitter have reportedly threatened to withdraw from Hong Kong if authorities push ahead with planned changes to laws around sharing private information online. The Hong Kong government is considering new rules that could make platforms liable for the malicious sharing of individuals’ information — a practice known as doxing. An industry group [...]
Euro 2020: Football’s coming home, says Goldman Sachs July 5, 2021 Football is probably coming home — at least according to Wall Street titan Goldman Sachs. Analysts at the US bank have predicted that England will end their 55-year run without a major football title by defeating Spain in the Euro 2020 final. “It’s (probably) coming home,” they wrote in a note dated 4 July. “With [...]
Bank of England to cut staff air travel amid green push July 5, 2021 The Bank of England is considering permanently cutting staff air travel as part of efforts to ramp up its climate change targets and “practise what we preach”. Sarah Breeden, the Bank’s executive director for financial stability and risk and lead on climate change issues, said the Bank was having an “active debate” over how to [...]
GB News: Ofcom shuns investigation into Dan Wootton’s lockdown rant July 5, 2021 Media watchdog Ofcom has opted not to investigate anti-lockdown comments made by Dan Wootton on the opening night of GB News, marking a victory for the nascent news channel. A total of 390 complaints were lodged with the regulator after Wootton, former executive editor of the Sun, launched a tirade against the government’s response to [...]
Back to adland: What London’s creatives think about the return to the office July 3, 2021 With the final easing of lockdown restrictions on the horizon, attention is turning to the eventual return to the office and a new era of flexible working. Major banks such as JP Morgan, Goldman Sachs and Morgan Stanley have all begun bringing staff back into the office, while UBS has said it will embrace a [...]
Dele Alli-backed esports firm Excel raises £17m from City investors July 2, 2021 Excel, a British esports franchise endorsed by Tottenham Hotspur footballer Dele Alli, has secured millions of pounds in funding from some of the City’s biggest investors. The rapidly growing gaming organisation, which competes in the League of Legends and Fortnite divisions, today announced a £17m funding round. JRJ Group, which bought a minority stake in [...]
