Cabotage is the “wrong tool” for the HGV crisis says haulage industry October 19, 2021 The Road Haulage Association (RHA) has called cabotage “the wrong tool” if the UK Government wants to relieve the HGV pressure that is in part causing the supply chain crisis. Speaking in front of the Business, Energy and Industrial Strategy (BEIS) committee, RHA’s director of policy Duncan Buchanan said this morning that cabotage will be “shockingly [...]
Exclusive: NatWest-backed Updraft raises £72m in latest funding round October 19, 2021 NatWest-backed Updraft, an app which aims to help people get out of debt, has raised £72m in its latest funding round as it eyes expansion. The fintech firm, which is looking to lend £200m to UK customers next year, allows customers to connect their bank accounts and view their debts from across credit cards and [...]
Primer rides the online payments wave to a $425m valuation after latest raise October 19, 2021 London-founded Primer is only 20 months old, but investors recognise that it’s solving a big problem for e-commerce merchants at a crucial time, and just injected $50m into the startup at its Series B fundraising round. US investment firm ICONIQ Growth led the latest round, accompanied by cash injections from existing investors including Balderton Capital, [...]
Scientists behind AstraZeneca/Oxford vaccine start developing Delta-specific jab October 19, 2021 A new version of the Oxford vaccine is reportedly being developed to specifically target the Covid-19 Delta strain. The team of scientists behind the AstraZeneca/Oxford jab, led by Professor Sarah Gilbert, has begun early work on the new vaccine with the goal of “having something on the shelf ready to scale up – if it’s [...]
Competition watchdog clears way for $44bn S&P Global and IHS Markit merger October 19, 2021 The UK’s competition watchdog has cleared the way for a multi billion pound merger between two of the world’s leading data providers. The Competition and Markets Authority said today the $44bn tie up between IHS Markit and S&P Global could be allowed to go ahead if competition concerns were addressed. The CMA uncovered limited competition [...]
UK’s net-zero strategy will ‘support’ 440,000 jobs by 2030, says Boris Johnson October 19, 2021 The UK’s newly unveiled strategy to reach net-zero carbon emissions by 2050 will “support” 440,000 new jobs over the next decade, according to Boris Johnson. Johnson said the UK’s “net-zero strategy”, released today, will also “unlock” £90 billion in investment by 2030. The document pledges that the UK will be powered entirely by clean electricity [...]
Very Group celebrates record revenue as it eyes listing October 19, 2021 Online retailer Very Group has announced record revenue in its full year results, ahead of an anticipated £4bn float. The owner of fashion brands Very.co.uk and Littlewoods.com said group revenue had swelled 13 per cent to a record £2,317.1m. Group revenue was driven by Very retail sales, which rose by almost a quarter to £1,535.6m. [...]
Streaming platforms like Spotify in the sights of competition watchdog October 19, 2021 An inquiry into the music industry, examining whether the rise of streaming services like Spotify and Apple Music are fair and competitive for the industry is set to begin. The UK watchdog will look at the issues that exist for both listeners and artists, gathering evidence to decide the best course of action against [...]
Supermarkets stocking shelves with Lynx instead of Christmas products after delivery issues October 19, 2021 Supermarkets are filling shelves with deodorants in order to make shops look stocked. Speaking to the Business, Energy and Industrial Strategy (BEIS) committee, Food and Drink Federation boss Ian Wright said shortages of HGV drivers had resulted in some “extraordinary” scenes. The food boss was keen to stress that the country was “not going to [...]
MPs call for parliament pension fund to divest from Chinese firms linked with Uyghur atrocities October 19, 2021 A cross-party group of 117 MPs have called for the Parliament Pension fund to divest from Chinese companies linked to Xinjiang – the region where Uyghurs are being ethnically cleansed. The group of MPs – which includes shadow foreign secretary Lisa Nandy, former Tory leader Sir Iain Duncan Smith and former cabinet minister Dr Liam [...]
