Amazon goes on UK hiring spree as e-com giant creates 4,000 new jobs July 15, 2022 Amazon has gone on a hiring spree in the UK, creating more than 4,000 permanent jobs this year. Spread across the UK, the new jobs will include positions at the Wakefield and Knowsley new fulfilment centres, where staff pack and ship orders. Corporate and technology as well as product management and software development jobs will [...]
NFT marketplace OpenSea lays off 20 per cent of staff as crypto crash persists July 15, 2022 OpenSea, the world’s biggest NFT marketplace, has cut 20 per cent of its staff as the severe crypto rout hits firms across the industry. CEO Devin FInzer announced the cuts yesterday, saying, “We have entered an unprecedented combination of crypto winter and broad economic instability, and we need to prepare the company for the possibility [...]
Europe biggest market for US crude oil for first time in six years as Russia-Ukraine war rages on July 15, 2022 For the first time in six years, Europe was the top market for US crude oil as the Russia-Ukraine war continues to impact global markets. Europe overtook Asia, the previous top market, and received 213.1m barrels of crude while Asia received 191.1m barrels of American crude in the first five months of 2022, US Census [...]
Explainer-in-brief: The tumultuous history of the online safety bill July 15, 2022 The Online Safety Bill – drafted with the aim of making “Big Tech” accountable for the content published on their platforms – has been delayed in Parliament. It will be inherited by a new prime minister and culture secretary in the autumn. The bill’s history traces back to David Cameron’s premiership, when the idea of [...]
Taiwanese iPhone maker confirms over £670m stake in ailing Chinese chip firm July 15, 2022 Taiwanese iPhone manufacturer Foxconn has confirmed today it has bought a considerable stake in China’s top chip maker Tsinghua Unigroup, after media speculation earlier in the week. Foxconn, also known as Hon Hai Precision Industry, said it had bought a 17.8 per cent stake in the beleaguered chip firm, in an investment it added is [...]
Tory leadership race: Knives are out as Johnson backs ‘anyone but Rishi’ while Mordaunt and Truss scrap for support July 15, 2022 Knives are out in the final stages of the Conservative leadership contest, with Prime Minister Boris Johnson backing “anyone but Rishi” and eliminated candidates nailing their colours to the mast. While the Prime Minister has refused to back any one candidate, a source told the Times “the whole No 10 team hates Rishi” because he [...]
Burberry feels the pinch of China’s lockdowns as market sales increase only one per cent July 15, 2022 Burberry has felt the pinch of China’s Covid lockdowns, as store sales in it biggest market increased only 1 per cent in the three months ended 2 July. Nevertheless, the fashion powerhouse reported a 16 per cent increase in overall sales – with the European, Middle Eastern and African (EMEIA) market performing particularly well. Store [...]
City Moves: Who’s switching jobs in the Square Mile? July 15, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Westwind Capital London-headquartered Westwind Capital, a new European private equity real estate investment platform has appointed a chief financial officer and chief operating officer, as it builds out its C-suite. Stepping into both roles, Mark Terry brings [...]
UK risks losing life science firms to the EU with sluggish medicine approvals July 15, 2022 The UK is falling behind the European Union (EU) in approving new medicines, which could be the first step in life science firms picking up and moving over to the mainland. The UK’s medicines regulator typically approves novel medicines around a month slower than its EU counterpart, research by Imperial College London has found. Lead [...]
As legal salaries jump again, firms need to adapt to a changed workforce July 15, 2022 If you whisked the lawyers, accountants and consultants of five years ago to the present day, they would be pretty surprised by the way we do business. Unprecedented flexibility about working from home and an intense focus on retaining talent are standard across our industry, and our businesses are better for it. Look five years [...]
