EU eases state aid rules in multi-billion euro chip boost as UK risks falling behind February 8, 2022 The European Commission is set to ease funding rules in order to pump billions into its innovative semiconductor programme, as it looks to boost the continental chip industry and cut dependence on the US and Asia.
UK loses £7bn from Omicron restrictions’ impact on travel and tourism February 8, 2022 The UK has lost around £7bn from the impact of Omicron restrictions on travel and tourism, according to World Travel and Tourism Council (WTTC) data. “Imposing unnecessary travel restrictions to ‘deal’ with Omicron was not backed by science and cost the UK economy £7bn in lost revenues,” said WTTC’s chief executive Julia Simpson. “Travel is [...]
Softbank readies to take Arm public as pressure builds for a London listing February 8, 2022 Japanese conglomerate Softbank is gearing up to take British chip manufacturer public after its blockbuster $40bn takeover by American rival Nvidia collapsed.
BP brushes off calls for windfall tax amid deepening energy crisis February 8, 2022 BP chief executive Bernard Looney has rejected growing calls from the Labour Party for a windfall tax on North Sea fossil fuel operators.
Iveco’s profits boom following surge in orders February 8, 2022 Automotive giant Iveco has registered a boom in profits after closing 2021 with a 77 per cent increase in worldwide order intake. The group’s profits for the full year surged from a net loss of €167m to a €140m adjusted net income, while adjusted diluted earnings per share went up to €0.43 from a loss [...]
Looming energy price cap rise could push five million back to the office February 8, 2022 The looming energy price cap could push almost five million people back into the office, as rising energy costs weigh on the work from home lifestyle. With millions considering ditching the pandemic-era work pattern, according to research by Electric Radiators Direct, early commutes at an average of £64 a month are appearing more desirable to [...]
Exclusive: TfL chief on Crossrail, progress on a funding deal, and why levelling up needs London February 8, 2022 SOME fifteen years after the project was given government approval, TfL staff beam with pride as they escort journalists onto the gleaming Elizabeth Line platform at Paddington’s new Crossrail hub. “The Shard will fit in here quite comfortably. It’s the size of three Wembley stadiums,” explains Crossrail’s chief executive Mark Wild.Built jointly by construction giants [...]
Rees-Mogg made minister for ‘Brexit opportunities’ in mini-reshuffle February 8, 2022 Jacob Rees-Mogg is now minister for “Brexit opportunities” in the Cabinet Office after he was moved from his post as House of Commons leader in a mini-reshuffle today. He will still attend cabinet in the newly created role, which will also include a remit to oversee “government efficiency”. Mark Spencer, former chief whip, replaces Rees-Mogg [...]
Share boost for Joules as boss warns of ‘severe’ cost increases February 8, 2022 Lifestyle retailer Joules saw its shares soar on Tuesday, although it warned of “the severe inflationary cost environment.” In interim results ended 28 November 2021, the Leicestershire-based company posted a pre-tax profit of £2.6bm. This was double the £1.3m profit in the comparable period last year. Revenue soared 35 per cent to £127.9m, up from [...]
PM won’t apologise for Jimmy Savile slur against Keir Starmer February 8, 2022 Boris Johnson will not apologise to Labour leader Sir Keir Starmer after the Labour leader was mobbed by angry protesters shouting out “Jimmy Savile” and holding nooses. It came after Johnson claimed last week that Starmer spent his time as the director of public prosecutions “not prosecuting Jimmy Savile”, despite the fact that the Labour [...]
