SEC issues new disclosure rules for Chinese companies to list in New York August 24, 2021 The US Securities and Exchange Commission (SEC) has issued new disclosure requirements to Chinese companies seeking to list in New York amid Beijing’s regulatory crackdown. The SEC has started to give some Chinese companies detailed instructions about greater disclosure of their use of offshore vehicles, known as variable interest entities for IPOs, implications for investors, [...]
Maersk buys eight zero-carbon tankers as green push gathers steam August 24, 2021 Shipping giant Maersk has today taken its biggest yet step towards “greening” its fleet by buying eight new tankers powered by carbon-neutral methanol. Each of the vessels, which will be built by Hyundai Heavy Industries, will be able to carry 16,000 containers. When they hit the water in early 2024 they will save 1m tons [...]
CPP revenue climbs ten per cent in half year results August 24, 2021 CPP Group, a multinational personal protection and insurance provider, has announced solid results for the first half of the year. Group revenue climbed by ten per cent year on year to £66.4m while EBITDA from operations increased by 37 per cent to £2.6m. After seeing a loss for the period of £0.7m in the first [...]
No milkshakes at McDonald’s as supply chain hit by lorry driver shortage August 24, 2021 McDonald’s has confirmed it has run out of milkshakes and bottled drinks at its UK venues amid a national shortage of delivery drivers. The fast food chain confirmed the products were unavailable at its 1,250 restaurants across England, Scotland and Wales due to supply chain challenges. “Like most retailers, we are currently experiencing some supply [...]
Kamala Harris takes aim at China over South China Sea claims August 24, 2021 United States Vice President Kamala Harris has accused China of coercion and intimidation in the South China Sea. “Beijing’s actions continue to undermine the rules-based order and threaten the sovereignty of nations,” Harris said in a speech in Singapore. She added that America would stand with its allies in the face of threats. China has [...]
Boots launches Deliveroo partnership from today August 24, 2021 Boots has announced it is exclusively partnering with Deliveroo to provide health and beauty products to consumers’ doors. The partnership will launch at 14 pilot stores across the country including in Edinburgh, London and Nottingham. Sales on the retailer’s website were up 85 per cent between 1 March 2020 and 1 March 2021 compared to [...]
Samsung to invest $200bn over three years in post-pandemic push August 24, 2021 Samsung is set to invest 240 trillion won ($206bn) by the end of 2023 in an effort to expand its biopharmaceuticals, AI, semiconductors and robotics offerings in the post-pandemic era. The South Korean tech giant said the investment will help strengthen its global standing in key industries such as chipmaking while allowing it to seek [...]
Stabbed by syringes: retail workers call for tougher sentences for assault August 24, 2021 Ministers have been urged to introduce tougher sentences for people who assault supermarket workers in England and Wales. Calls from the British Retail Consortium (BRC) come as new legislation comes into force in Scotland that makes assaulting or abusing retail staff a standalone offence. The BRC has called on peers in the House of Lords [...]
South Korea set to crack down on Apple and Google over app charges August 24, 2021 South Korea is poised to block Apple and Google from charging commission on in-app purchases in what could be the first such move by regulators around the world. The parliament’s legislation and judiciary committee is today expected to approve legal changes that will ban app store operators with dominant market positions from forcing certain payment [...]
Chinese Uber rival Didi suspends UK launch amid data crackdown August 24, 2021 Ride hailing platform Didi has called off plans to launch in continental Europe including in UK cities. The firm is consulting with staff working on its Western Europe roll out on assigning roles and potential redundancies, according to reports from the BBC and The Telegraph. Plans to launch in London, Sheffield and Salford have been [...]
