Who wants to be a trillionaire? Musk in the race as Tesla profits hit record October 21, 2021 Morgan Stanley analysts believe Tesla’s founder and chief executive Elon Musk could become the world’s first trillionaire after the company’s results hit records, the Telegraph reported. The company’s revenues jumped 57 per cent to $13.7bn, with an operating income of $2bn and a 30 per cent increase in automotive gross margin while its shares more [...]
Hong Kong ousting over 50 opposition councillors ‘deeply concerning’, says Truss October 21, 2021 Hong Kong’s home affairs chief has unseated another 16 opposition district councillors today, bringing the total ousted local politicians to more than 50. Newly appointed foreign secretary Liz Truss has condemned the actions, calling the move “deeply concerning”, as the political climate in the former British colony remains unstable. “It is deeply concerning that 55 [...]
Swelling costs triggers highest manufacturer inflation since 1980s October 21, 2021 Manufacturers are hiking prices at the fastest pace in forty years amid a breakdown in supply chains severely squeezing margins. Swelling costs drove 41 per cent of manufacturers to raise their prices over the last quarter, the highest proportion since 1980, research from Confederation for British Industry has found. More to follow.
Blackstone’s earnings soar to record levels after lucrative asset sales October 21, 2021 The world’s largest alternative asset manager Blackstone has capitalised on the pandemic recovery capital markets frenzy and low interest rates to more than double its earnings in the third quarter to an all-time high. Distributable earnings shot up 112 per cent from this time last year to hit $1.6bn, or $1.28 per share, outsprinting the [...]
UK’s second green gilt secures over £70bn of investor demand October 21, 2021 More than £74bn has been offered to the government in demand for its second green government bond which had its order book gates thrown open today. It comes a month after its first green gilt which attracted a record £100bn in demand from hungry investors. The appetite for environment, social and governance (ESG) focussed loans [...]
As winter approaches, an ode to the overcoat October 21, 2021 Although at the start of October we were having an Indian summer, a glance outside the window proves a bitter reminder that we are marching into the cold season. The days of striding out without anything but a raincoat are dwindling fast, and the wardrobe must be flung open, the moths beaten back. It will [...]
Vodafone creates 7000 news jobs in Europe and Africa October 21, 2021 The UK telecommunications company has unveiled plans to add 7,000 new software engineers to its workforce by 2025.
Treasury mulls buy now pay later crackdown and launches consultation October 21, 2021 A regulatory crackdown on the booming buy now pay later (BNPL) sector is coming into sight after the Treasury launched a consultation on the policy options for the market today. Consumer rights charity Citizens Advice urged the government to swiftly translate the consultation into action, as it warned that BNPL borrowing can “be like quicksand [...]
‘Headaches’ for Innocent as fruit for smoothies held up at ports October 21, 2021 Innocent’s CEO Douglas Lamont has warned decisions on hiking prices of the brand’s smoothies are “imminent,” as retailers face mounting cost pressures. Speaking to CityAM, Lamont said there were “huge challenges out there,” with cost pressures and limited driver availability. “We’ve all been quite battle-hardened [after the pandemic], in terms of keeping service levels. We’re [...]
Blackstone deal bags Spanx a spanking new $1.2bn valuation October 21, 2021 Shapewear brand Spanx has bagged a $1.2bn valuation after inking a deal with investment heavyweight Blackstone. The deal will see Blackstone snap up a majority stake in the brand, though how much the private equity firm forked out for the shapewear brand is not yet known. After founding the company in 2000 with $5,000 in [...]
