Recession fears loom over FTSE 100 as IMF warns economic outlook has ‘darkened’ July 14, 2022 London markets flopped today driven by investors fretting over the global economic downturn. The capital’s premier FTSE 100 index dropped 1.63 per cent to 7,039.81 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, tumbled 1.23 per cent to 18,480.66 points. Recession fears have led [...]
Environment Agency calls for water bosses to face jail over ‘appalling’ pollution July 14, 2022 Water bosses should face jail unless they clean up their act and stop dumping sewage in rivers, warned the industry's regulators today.
Musk’s $44bn u-turn on Twitter hits City advisor fees hard July 14, 2022 Twitter and Elon Musk’s financial advisors could lose big bucks after the eccentric entrepreneur walked away from the $44bn mega deal. According to an earlier regulatory filing, the social media firm’s financial advisors Goldman Sachs and JP Morgan Chase could have nabbed fees totalling to $133m, while Refinitiv suggested that Morgan Stanley and the other [...]
UK data watchdog plots regulation that cuts shackles of the EU regime July 14, 2022 The UK's data protection watchdog laid out its three-year strategy to safeguard the information rights and depart from the shackles of the EU's GDPR framework.
FCA chief: We’re pursuing root and branch overhaul July 14, 2022 The City watchdog is undergoing a root and branch overhaul to “mitigate the shocks” on the horizon for Britain’s financial services sector, its chief said today. Speaking at Peterson Institute for International Economics in the US, Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), said the regulator is reshaping its oversight of the [...]
Amazon hopes to dodge EU fine by making changes to ‘anti-competitive’ practices July 14, 2022 Amazon has told EU antitrust regulators that it is willing to halt online-selling practices deemed as anti-competitive, in a bid to bat away two investigations. The tech titan could face a heavy fine if the investigations continue, with new EU restrictions set to target the marketing practices used by Amazon from next year. Now, the [...]
Playtech plunges after Hong Kong bidder backs out July 14, 2022 Playtech said Hong-Kong firm TTB remains supportive of the board despite failed takeover talks because of "challenging underlying market conditions".
Lithium batteries are the ‘new oil’ as Panasonic unveils $4bn gigafactory July 14, 2022 The demand for lithium batteries, key components in electric vehicles (EVs), have skyrocketed in recent months – with onlookers, including Elon Musk, saying they are the new oil. Japanese tech giant Panasonic secured approval for a $4bn (£3.3bn) battery plant on Wednesday night, in a bid to keep up with demand from EV makers. Panasonic [...]
London’s Royal Albert Docks: PwC liquidators brought in after Chinese firm severed from development deal July 14, 2022 Administrators have been called in to liquidate firms involved in a major regeneration project at the Royal Albert Docks. PwC appointed three joint liquidators for 23 firms within the east London site, after the China-based ABP Group failed to pay creditors over the last two years. Mayor Sadiq Khan tore up an agreement with ABP, [...]
Brussels slashes EU growth forecasts as euro faces ‘end of the beginning’ of US dollar slide July 14, 2022 The worst inflation surge in a generation driven by Russia’s invasion of Ukraine will choke European economic growth, revealed fresh forecasts published today. Predictions for output growth this year among the 27 members of the European Union (EU) remained unchanged at 2.7 per cent, but the European Commission (EC) downgraded expansion in 2023 by nearly [...]
