Inflation has hurt public companies, but even private tech firms will feel the pain July 11, 2022 Public market companies – particularly those in the tech sector – have felt the impact of soaring inflation, as central banks continue to pump interest rates higher. The tech-heavy Nasdaq is down 30 per cent this year and private market companies will inevitably catch up. A good benchmark to follow is often the valuations of [...]
Letters: Political turmoil must be swift July 11, 2022 [Re: Them’s the breaks’: Defiant Boris Johnson resigns as Prime Minister, yesterday] The uncertainty around who will replace the prime minister goes hand in hand with the uncertainty facing British businesses, including rising startups. The government’s disruption is self-inflicted, but the disruption caused to Britain’s early-stage funding market has been entirely inflicted upon startups. The [...]
UK consulting sector grows 18 per cent as firms deal with post-Covid fallout July 10, 2022 The UK’s consulting sector grew by 18 per cent in 2021 and is forecast to experience further strong growth this year, the Management Consultancies Association (MCA) has said. According to the group’s latest Annual Industry Report, many businesses kick-started new projects last year which had previously been delayed while others focused on digital transformation and [...]
EDF cyber security ‘shortfalls’ see energy giant placed under further monitoring July 10, 2022 FRENCH Power Giant EDF is being scrutinised by the UK’s Office for Nuclear Regulation (ONR) after it identified shortfalls in the firm’s cyber security defences. Following a number of routine inspections over the past year, the regulator said it had found “shortfalls in governance, risk and compliance and certain technical controls” at EDF and that [...]
Tory leadership: Tax row kicks off battle in earnest as Javid and Hunt hit back at Sunak July 10, 2022 THE BATTLE to become Prime Minister began in earnest this weekend with a row over whether Britain should cut taxes. There are now nine declared candidates to become Boris Johnson’s successors – with a tenth, foreign secretary Liz Truss, expected to join them later today or tomorrow. Yesterday saw a host of pledges to cut [...]
Sorry again: Uber apologises for secretly courting Emmanuel Macron in European lobbying push July 10, 2022 Uber have been forced to apologise once again after leaked files reveal that the ride-hailing giant courted top politicians to push its $90m-a-year lobbying and public relations efforts. The Uber Files, which contain 124,000 records from 2013 to 2017, show how the firm recruited political big dogs, including French President Emmanuel Macron and ex-EU commissioner Neelie Kroes, [...]
Channel 4 privatisation still on track despite political turbulence July 10, 2022 Channel 4's privatisation is still on track, despite reports that Boris Johnson's resignation may have scuppered the broadcaster's £2bn sale.
Royal Mail chairman says firm is at ‘crossroads moment’ as it balances union action with productivity woes July 10, 2022 Royal Mail chairman Keith Williams has said unions can't expect a no-string pay deal "where nothing changes", as the company tries to balance dwindling productivity alongside rising union tension.
Software giant Atlassian leaves UK in setback for the City’s tech hopes July 10, 2022 Australian software giant Atlassian is quitting the UK and shifting to the US in a fresh blow to London’s ambitions to establish itself as a global tech hub.
S&P 500 to shed fifth of value if US tips into recession, Goldman Sachs warn July 10, 2022 Wall Street will suffer heavy losses if the US economy tips into recession, according to investment bank Goldman Sachs. The S&P 500 index, a broad measure of corporate America, will shed 19 per cent and close 2022 at 3,150 points if the American economy suffers a tough recession, Goldman said in a note to clients [...]
