SoftBank boss ‘ashamed’ as Vision Fund suffers $23.1bn loss August 8, 2022 Japanese investment giant SoftBank crashed to a $23.1bn loss in the second quarter of the year as its flagship Vision Funds were battered by the rout on global markets.
Researchers label Nigeria as the world’s most ‘crypto obsessed’ nation August 8, 2022 Nigeria is, according to a new research study, head-and-shoulders the most cryptocurrency curious country in the world.
Lion sells beer brands Fourpure and Magic Rock to Odyssey Inns August 8, 2022 Australian beverage giant Lion has sold its UK operations, including craft beer brands Fourpure and Magic Rock to Odyssey Inns. Alongside the beer brands, Odyssey has also snapped up breweries and taprooms in London, Huddersfield and Holmfirth and the Little Creatures craft beer hospitality venue in Kings Cross. Lion, a subsidiary of Japanese drinks conglomerate [...]
WH Smith de-risks pensions scheme via Standard Life insurance policy August 8, 2022 WH Smith on Monday said it had taken out a bulk annuity insurance policy with Standard Life, through which the Phoenix Group subsidiary will cover the costs of the retailer’s £1bn pension scheme. The high-street bookseller’s insurance policy will see Standard Life pay the pensions of the almost 13,000 members of WH Smith’s defined [...]
Air taxi firm Vertical Aerospace posts loss as company builds latest prototype August 8, 2022 UK electric aviation firm Vertical Aerospace has posted a half-year loss of £39m, up from last year’s £22m, due to its pre-revenue status. Costs increased as the company completed building its aerial taxi prototype which, after a series of ground testing, is expected to begin flying this summer. “I am grateful for the efforts of [...]
BioNTech’s Covid-19 vaccine boosts revenue to £8bn so far this year August 8, 2022 BioNtech, the company which worked with Pfizer to develop its famed Covid-19 vaccine, has reported €9.6bn (£8bn) worth of revenue so far this year. The Germany pharmaceutical giant snagged €3.2bn (£2.6bn) in revenue in the second quarter of this year, the company reported today. In a call today, CEO Uğur Şahin said the results [...]
Number 10: Johnson will not outline a cost of living package this summer August 8, 2022 Number 10 has confirmed that Boris Johnson will not be announcing an emergency package of measures to help Brits being squeezed by the worsening cost of living crisis. Johnson’s official spokesman today said “it will be for a future Prime Minister to decide whether … measures are required”. It comes after former Prime Minister Gordon [...]
The Works warns of cost of living impact on Christmas sales August 8, 2022 Stationery chain The Works has slashed its guidance for the 2023 financial year and warned about consumer spending amid the Christmas spending period. The London-listed company, which sells discount books, toys and art supplies, said the general market outlook had “deteriorated” since the start of the calendar year, pointing to “low consumer confidence and rising [...]
Pfizer buys Global Blood Therapeutics for £4.4bn in Covid cash spending spree August 8, 2022 Pfizer has bought Global Blood Therapeutics for $5.4bn (£4.4bn), as the US pharmaceutical giant continues its Covid-19 cash spending spree. The deal will strengthen Pfizer’s sickle cell disease expertise, with bosses eyeing combined worldwide sales of more than $3bn (£2.4bn). CEO and chairman Albert Bourla said: “Sickle cell disease is the most common inherited blood [...]
Oil prices collapse to February lows amid growing fears of global recession August 8, 2022 Fears of a worldwide recession and weakened demand for oil continues to weigh down prices on both major benchmarks.
