AT&T to spin off WarnerMedia in £32bn Discovery media merger February 1, 2022 AT&T announced today that it will spin off WarnerMedia in a $43bn (£32bn) transaction to merge its media properties with Discovery and also cut its dividend by nearly half.
M&A boom continues as monthly deal value hits $364bn February 1, 2022 Mergers and acquisition activity has continued to boom into this year with January deal activity reaching $364bn, new data has revealed.
Rampant inflation forces Brits to dip into Covid-19 savings February 1, 2022 Brits are unleashing the enormous stock of savings amassed over the course of the Covid-19 crisis to maintain spending amid soaring inflation, reveal fresh official figures released today. Households are turning to drawing down savings due to the intensifying cost of living crunch stretching their budgets. The combined £3.2bn jump in households savings over the [...]
KPMG dishes out record pay to partners and £100m bonuses to staff February 1, 2022 Partners at KPMG have voted to invest £300m into a “once-in-a-generation” transformation of KPMG’s business, after handing out £100m in bonuses on the back of a “resilient” performance last year. The professional services firm said it would be handing out £100m in bonuses to its 14,700 staff, as it said KPMG partners were handed their [...]
Tesco to axe 1,600 jobs in fresh restructuring plans as union enters consultation talks February 1, 2022 Around 1,600 roles could be axed by Tesco as the supermarket has announced further cuts. The supermarket is planning to restructure its night stock replenishing operations, as well as the closure of some in-store counter services and the Jack’s store format. Tesco said it was moving overnight re-stocking to the daytime in 36 large stores [...]
Oil prices drop below $90 as OPEC+ commit to supply boost February 1, 2022 Market rallies on both major benchmarks have stalled this amid speculation OPEC+ could further increase supply targets this week.
Has the falling price of Bitcoin turned a corner? February 1, 2022 The Bitcoin price is up nearly three per cent this morning at just above $38k, having yesterday climbed above $38,500 for the first time in more than a week.
UBS posts best profits since before financial crisis at £5.6bn February 1, 2022 Swiss lender UBS has registered its best profits since before the financial crisis. The bank, which specialises in managing the money of the world’s richest, booked a $7.5bn (£5.6bn) for the whole of 2022, its best take since 2006, it announced today. UBS’s global wealth management was the bank’s bright spot, generating $563m (£419m) in [...]
Households face extra £180 a year on average grocery bill February 1, 2022 Households are facing an extra £180 to their annual grocery bill after inflation has seen prices surge in recent months. The latest four-week grocery price inflation stands at 3.8 per cent, a 0.3 percentage point rise from December, according to the latest market data from Kantar. Take-home supermarket sales dropped 3.8 per cent over the [...]
Letters: It’s not me, it’s U-kraine February 1, 2022 [Re: Ukraine: UK calls on European allies to put more pressure on Russia, Jan 28) On Friday, the UK’s National Cyber Security Centre (NCSC) advised companies to bolster their defences amid fears cyber-attacks linked to tensions in Ukraine could spill outside of its borders. This was a welcome intervention on a very real threat. The [...]
