It will (probably) be alright: National Grid says winter blackouts are ‘unlikely’ October 6, 2022 The UK should avoid blackouts this winter, according to the National Grid, with sufficient supplies available to meet Brits' energy needs.
Exclusive: Manufacturing sector lacks clear data for net zero drive October 6, 2022 A lack of shared reporting standards for carbon emissions across industry could jeopardise the UK’s net zero ambitions.
Porsche surpasses Volkswagen as EU’s most valuable car maker October 6, 2022 Porsche has overtaken parent company Volkswagen as Europe’s most valuable car maker as its valuation increased to around €84bn (£73.5bn) a week after its IPO. The luxury car maker’s value was initially pushed up to €85bn as shares surged to €93 earlier this morning. But even though shares stabilised to around €91 by lunchtime, Porsche’s [...]
Exclusive: UK data-driven lender Channel launches £300m plan for fintech SMEs October 6, 2022 A data-driven lending firm has launched a new £300m funding plan for fintechs SMEs. A third of the UK-based Channel Capital Advisors’ £300m shot-in-the-arm will be released immediately, City A.M. can exclusively reveal. The fund, which has backing from global investors, will support digital lending fintech platforms that need cash to finance their loans to [...]
Peloton slashes 500 more jobs as it pins hope on turnaround plan October 6, 2022 Peloton said it plans to slash 500 more jobs, as chief executive Barry McCarthy gives the company six months to turn its run of bad luck around. The dramatic move knocks about 12 per cent from the exercise bike maker’s headcount to roughly 3,800 employees globally, and adds to the tide of staff cuts that [...]
Uber’s former security boss found guilty of criminal obstruction over data hack October 6, 2022 Uber’s former head of security has been found guilty of criminal obstruction for failing to tell US authorities about a 2016 database hack. The breach impacted 57 million Uber records and 600,000 driving-licence numbers, and led to former top dog Joe Sullivan to be fired in 2017. The San Francisco jury convicted Sullivan this week of [...]
Analysis: Bank of England averts market spiral, but pressure remains October 6, 2022 Hat tip to Mel Stride, Tory MP and chief of the treasury committee, for asking the Bank of England to explain why they launched an emergency support package for the UK debt market last week. If he hadn’t, we wouldn’t know there was a “self-reinforcing spiral” – how deputy governor at the Bank Jon Cunliffe [...]
MPs set to scrutinise ESG industry amid greenwashing concerns October 6, 2022 MPs are set to scrutinise the environmental, social and governance (ESG) investing industry next week amid growing concerns of 'greenwashing'.
Aldi kickstarts festive hiring spree with 3,000 new jobs this Christmas October 6, 2022 Aldi has launched its festive hiring spree, revealing plans to create around 3,000 new jobs this Christmas. The discounter has created more than 2,000 temporary and permanent store jobs this winter. It also unveiled plans for more than 850 roles across its 11 regional distribution centres around the UK, for jobs including warehouse selectors, logistics [...]
Watchdog: Network Rail staff paid more than market rates October 6, 2022 Network Rail maintenance earn around a fifth more than similar roles in the rest of the industry, Data published today by rail watchdog the Office for Rail and Road (ORR) showed that the average total reward – which include pension costs and other measurable benefits – was 18 per cent above the average. The analysis [...]
