Shares dip for British American Tobacco as Supreme Court clear vape ban December 13, 2022 Shares dipped for British American Tobacco this morning after the US Supreme Court blocked an emergency request to put the ban of flavoured tobacco on hold. The court cleared the way for the state of California to push ahead with a voter-approved ban, rejecting a plea from British American Tobacco (BAT)’s Reynolds unit. The arm, [...]
Ofwat offers carrot and stick approach to water firms with £300m innovation fund December 13, 2022 Ofwat will raise the size of its innovation fund to £300m, as it looks to encourage companies to improve customer service.
Hapag-Lloyd forecasts small increase in shipping demand towards year’s end December 13, 2022 Shipping giant Hapag-Lloyd has forecast a small and short-lived uptick in demand towards the year’s end. The world’s fifth-largest shipping company saw a decline in demand in September and October as the cost-of-living crisis weakened consumers’ appetite. “I don’t think the market is as weak as it was four or eight weeks ago,” chief executive [...]
Vodafone transfers shares in Egypt arm as it simplifies core business December 13, 2022 Vodafone transferred over half of its shareholding in its Egypt business to Vodacom, its African subsidiary, as it simplifies the core business. Under the agreement, the telecoms giant has been issued with 242 million shares in Vodacom and received cash proceeds of €577m in exchange for its 55 per cent shareholding in Vodafone Egypt. Acting [...]
Premier League: Bournemouth is latest club to be bought out by a US businessman December 13, 2022 Premier League strugglers Bournemouth have been bought out by a US-led consortium including actor Michael B Jordan. Owner Maxim Demin has sold his 100 per cent stake in the firm to Black Knight Football Club (BNFC), managed by American businessman Bill Foley. The bid also has a number of high profile backers, including award-winning actor, [...]
Cooking up a storm: Recipe biz Mob will be ‘smart about revenue’ amid recessionary hit on digital ads December 13, 2022 Recipe social media firm Mob has said it will move away from third-party revenue streams this year as digital advertisers’ budgets shrink. Ben Lebus, founder of the food-focused platform and recipe book business, told CityA.M. the firm needed “to be really smart about where we’re getting revenue from” amid the economic crunch. Mob, which has [...]
Rishi Sunak warns his cabinet about ‘challenging’ winter of UK strikes December 13, 2022 Rishi Sunak has warned his cabinet that winter will be “challenging” as widespread industrial action ramps up and as the economic downturn deepens. The Prime Minister’s official spokesman today said the “government will do all we can to minimise disruption”, while calling for union bosses to get back to the negotiating table. Today marks the [...]
China crafts £116bn chips support package as it tackles US curbs with WTO December 13, 2022 China is reportedly crafting a $143bn (£116.5bn) package to support its semiconductor industry, as it tackles new US trading curbs with the World Trade Organisation (WTO). The package would be a major pillar in sustaining its chips sector, which is currently fielding attempts from the US to slow its technological advances. Beijing plans to roll [...]
Twitter gaffe: Musk’s site labels Norway, its PM and foreign minister as ‘Nigerian’ December 13, 2022 Twitter was mocked by Norway this morning after its new verification system told users the country was actually Nigeria. Continuing its streak of mishaps, the social media site labelled Norway’s foreign ministry as a “Nigeria government organization”, while Norway’s Prime Minister Jonas Store and Foreign Minister Anniken Huitfeldt were also mischaracterised. This comes after Elon [...]
Felixstowe: Workers reach deal and accept 8.5 per cent pay increase December 13, 2022 Workers at the port of Felixstowe have finally reached a deal and accepted an 8.5 per cent pay increase for 2023. The port said that over 90 per cent of workers agreed to the rise, which also includes an additional £1,000 lump sum. “We are pleased to have reached an agreement on the 2023 pay [...]
