Chinese tech tycoons lose $87bn amid Beijing crackdown August 9, 2021 A crackdown on Chinese tech giants by regulators in Beijing is estimated to have wiped $87bn (£63bn) off the personal fortunes of tycoons such as Alibaba’s Jack Ma in the last month alone. Authorities have launched a fierce campaign against some of the country’s biggest tech firms amid concerns about their escalating power, sparking sharp [...]
Macquarie takes £1bn stake in Southern Water August 9, 2021 Australian asset manager Macquarie today announced that it had bought a majority stake in utility firm Southern Water for more than £1bn. The firm said that its investment would help transform the company and put it “back on a stable footing”. It comes a month after Southern Water was fined £90m after bosses admitted dumping [...]
Future of work: ‘Freedom Day’ fails to trigger mass return to the office August 9, 2021 “Freedom Day” has failed to trigger a mass return to the office, according to new data published today. Research from Remit Consulting shows the proportion of staff in the office in the UK hit 11.7 per cent in July, a meager increase from 11.1 per cent before the Work From Home guidance was dropped by [...]
‘Code red’ climate report sends oil prices sinking August 9, 2021 Oil prices tanked on Monday morning driven by investors selling off holdings after the publication of a landmark report on the damaging effects of climate change signals “code red” for humanity. International benchmarks WTI and Brent Crude plummeted 4.1 per cent and 3.8 per cent respectively. A barrel of either benchmark costs well below $70. [...]
Chinese spies ‘try to enter UK’ via Hong Kong visa scheme August 9, 2021 UK security officials are reportedly concerned China is sending spies to enter the UK through the British National (Overseas) visa scheme designed for Hong Kong residents. Chinese spies are trying to take advantage of the scheme and posing as refugees in an attempt to enter Britain, according to a report in the Times. Government sources [...]
Vodafone to reintroduce EU roaming charges from January August 9, 2021 Vodafone has joined EE in announcing plans to reintroduce roaming charges for users travelling in Europe in a fresh Brexit blow for British consumers. Vodafone announced today it will launch new European roaming passes across its Europe zone from 6 January. The changes will not affect existing customers. However, new and upgrading customers will be [...]
Ocado allows employees to work from abroad for a month August 9, 2021 Ocado Group has announced its employees will be allowed to work remotely from a country of their choosing for up to a month. The online grocer’s Chief People Officer, Claire Ainscough, confirmed the policy in comments to The Times, stating that the company is still encouraging a return to the office. The news comes as [...]
France’s health pass extension comes into effect after fourth weekend of protests August 9, 2021 From today, showing a health pass becomes a requirement to get into cafés, restaurants, hospitals and long-distance travel in France. The extension of the pass proving one’s coronavirus status was approved on Thursday by the French Constitutional Council and will be in place until at least November. In what was the fourth consecutive weekend of [...]
Half a million UK partners in law firms and accountancies face tax hike in 2022 August 9, 2021 Over half a million sole traders and partners may face higher tax bills than expected next year if a government proposal to change the date businesses report their profits is approved. Experts have said it would generate billions of pounds for the Treasury years ahead of the existing schedule for payments, according to a report [...]
Deliveroo shares surge after German rival purchases stake August 9, 2021 Deliveroo shares have jumped by ten per cent to the highest level since trading began after a German rival purchased a stake in the company. On Monday Deliveroo disclosed that it received a notification “of major holdings in the company’s shares from Delivery Hero after market close on 6 August 2021,” pushing share prices to [...]
