Explainer-in-brief: Job-cutting government takes aim at civil service May 16, 2022 Boris Johnson is considering reducing the number of civil servants by more than 90,000, reaching an even lower level than what was planned pre-Brexit. Formal discussions will start next week, and will likely intensify tensions between ministers and civil servants. Relations have been strained recently, worsened by the row on working from home sparked by [...]
Tech firm behind NHS’ covid data system moves security operations to UK amid Kremlin cyber attack fears May 16, 2022 Fears of a Russian cyber attack has forced the firm behind the NHS’s vaccine rollout to move permanently to Britain. Palantir is taking its security operations away from the United States to the United Kingdom, amid concerns about the Kremlin launching an attack on cables laid under the Atlantic Ocean, according tot he Telegraph. The [...]
Post-Brexit financial services overhaul may lead to ‘race to the bottom’ May 16, 2022 A push to scrap legacy pre-Brexit regulation to boost the City’s attractiveness may result in a race to the bottom, a former minister and academics have warned. Sir Vince Cable, a former Lib Dem business secretary under the coalition government, and others have in a letter to chancellor Rishi Sunak a watering down in rules [...]
Russian hackers blocked from halting Ukraine’s Eurovision win May 16, 2022 Italian police confirmed yesterday that pro-Russian hackers attempted to stop Ukraine's Eurovision win on Saturday evening.
Vodafone shares climb following UAE telecoms group’s £3.6bn swoop May 16, 2022 Vodafone shares are up nearly four per cent this morning after the company revealed over the weekend that Emirates Telecommunications Group, also known as e& and Etisalat, snapped up a 9.8 per cent stake in the telecoms giant.
Ofgem proposes price cap shake-up which could see energy bills rise four times a year May 16, 2022 Energy users could see their household bills fall faster, with Ofgem one step closer to a major revamp of the consumer price cap.
Saudi Aramco brings in record $39.5bn income as oil prices surge May 16, 2022 Saudi Aramco generated $39.5bn (£32.3bn) in income in the first quarter of 2022, after volatile commodity prices saw its income increase by 82 per cent compared to the same time last year. The almost $40bn worth of income marks a record for Saudi Arabia’s national oil company in coming as its highest quarterly earnings since [...]
Made.com slashes 2022 outlook amid ‘tough trading environment’ May 16, 2022 Lifestyle brand Made.com lowered its expectations for the rest of 2022, with both gross sales and revenue expected to drop 15 per cent and seven per cent respectively.
British tech equipment maker Diploma posts steady revenue growth despite rapidly growing portfolio May 16, 2022 British tech products provider Diploma reported steady revenue growth this morning, up 23 per cent to £448.5m thanks to organic revenue initiatives, positive demand and pricing. The FTSE 250 firm reported a 22 per cent growth in adjusted EPS to 47p and 20 per cent increase in interim dividend at 15p. It comes as Diploma [...]
Greggs opens 49 new shops after sales of chicken goujons soar May 16, 2022 Sausage roll seller Greggs has seen shares dip after admitting city sales still lag behind the rest of its sites. Although the bakery chain said it had had a “good” start to 2022 on Monday, shares were down some 2.8 per cent in the afternoon. The firm has been reshaping its portfolio of stores to [...]
