US Federal Reserve to hike rates for first time in over three years March 14, 2022 The US Federal Reserve will hike interest rates for the first time in over three years on Wednesday as the central bank takes the first step in shifting policy from supporting the American economy through the pandemic to taming runaway inflation. Fed Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) [...]
Saudi Media Group makes £2.7bn bid for Chelsea March 14, 2022 The biggest media group in the Middle East Saudi Media Group has made a £2.7bn offer to scoop up Chelsea as the football club races to find a new benefactor following Roman Abramovich’s sanction by the UK government. The sanctions block any new money going into the Premier League club, effectively forcing Abramovich to offload Chelsea [...]
Chinese cities on lockdown as Covid-19 cases spiral and local stocks tumble March 14, 2022 As China battles its largest surge in Covid-19 cases since the beginning of the pandemic, Beijing has shuttered several cities including technology hub Shenzhen. It comes as Covid-19 cases in the country, which has adopted a controversial ‘Zero-Covid’ stance, tripled in just one day. With fresh restrictions also being blanketed across Shanghai, China’s CSI 300 [...]
Bounce and Flight Club owner raises $35m to expand experiential bar estate in US and UK March 14, 2022 The company behind Bounce and Flight Club has announced a growth capital raise of more than $35m to support its expanding portfolio. State of Play Hospitality said the raise was funded by both existing and new investment partners, including US-based Bregal Partners. The company, which specialises in experiential bar concepts, said the fund will be [...]
Uber fares could rocket 20 per cent as ride-hailing app foots VAT bill March 14, 2022 Uber could hike prices by as much as a fifth from tonight as the ride-hailing giant faces fresh VAT charges. It comes after the company was forced to implement changes following the High Court ruling last year, which said that Uber could not be viewed as an agent but must be regarded as a contractor. [...]
Kara Komarni – creating good mental health habits for the metaverse generation March 14, 2022 VR specialist Kara Komarni discusses using the metaverse for mental health, and harnessing technology-driven change.
Small business lending tumbles amid strong economic rebound March 14, 2022 A strong economic recovery from the Covid-19 crisis led to borrowing among small businesses falling off a cliff last year, reveals fresh figures published today. Small firms took on £22.6bn in debt over the whole of 2021, down over 64 per cent compared to the previous year, according to figures from banking body UK Finance. [...]
Arrests made as Extinction Rebellion activists douse Barclays office in oil March 14, 2022 Extinction Rebellion activists have doused the front of Barclays headquarters in oil to protest against the bank's fossil fuel investments.
Top fintechs strong-arm watchdog into action on open banking March 14, 2022 A group of the UK’s top fintech firms have called on the Competition and Markets Authority (CMA) to speed up its decision making on open banking, claiming the watchdog’s slow progress was stifling innovation.
Russian economy to lose nearly third of its value March 14, 2022 Russia’s economy will be plunged into turmoil this year as a result of the country being frozen out of the global economy in retaliation to Moscow invading Ukraine. The country’s output will tumble around 30 per cent this year, far worse than the amount it lost during the financial crisis, according to forecasts by the [...]
