Oil prices plummet on surging Covid cases August 3, 2021 Oil prices plummeted on Tuesday as the resurgence in Covid cases globally driven by the Delta variant fuelled concerns that restrictions on economic activity may be reimposed. Global benchmarks WTI and Brent Crude slid 1.39 per cent and 1.12 per cent to hit $70.41 and $72.22 respectively – WTI briefly dipped below $70. Prices have [...]
Credit Suisse to stand trial over ‘tuna bonds’ involvement August 3, 2021 Credit Suisse is set to face a 13-week trial in September 2023 over its involvement in the “tuna bonds” scandal, according to reports on Tuesday. Sources familiar with the matter said the Swiss bank will be scrutinised for its involvement in the scandal that saw funds raised through debt issuance spent on purchasing military equipment [...]
China’s Wuhan to test all 12m residents after just three Delta cases found August 3, 2021 China’s Wuhan is set to test all 12m residents after just three Delta variant cases were spotted in the city, but fears of it spreading grow. The country’s levels of the Delta variant are still relatively low in comparison to the UK, with total cases standing at just 414 for the entire country. The Delta [...]
City giants plotting to buy Asian fossil fuel plants in order to shut them August 3, 2021 A group of financial firms have come together to speed the closure of Asia’s fossil fuel power plants, the world’s largest source of carbon emissions. Under the proposals, HSBC, Citi, Prudential and Blackrock Real Assets, together with the Asian Development Bank, will form private-public partnerships to buy out the plants. They will then work to [...]
PE firm TriSpan acquires Pho restaurants after Gresham House Ventures exit August 3, 2021 TriSpan has acquired a significant majority stake in UK Vietnamese restaurant group Pho, after Gresham House Ventures exited its investment in the chain on Monday. The global PE firm has invested in Pho through its dedicated restaurant fund Rising Stars. It represents the fund’s third investment in the UK, following Rosa’s Thai Café and Thunderbird [...]
Over 100 Amazon Prime Air staff let go as drone deliveries fail to get off the ground August 3, 2021 More than 100 Amazon Prime Air employees have lost their jobs as the project has cut back parts of its UK operations, according to reports. Amazon Prime Air, which launched in 2016, is e-commerce giant Amazon’s delivery division for drones. However, a number of employees on the UK team told Wired that the drone project [...]
Bank of England’s MPC meeting: Who will take Haldane’s hawkish reins? August 3, 2021 A big hole has been left at the table of the latest round of the Bank of England’s monetary policy committee meetings – they are the first since chief economist Andy Haldane departed the Old Lady after over 30 years of service. Much of the focus on Thursday’s MPC policy announcements will be on whether [...]
British and Irish Lions: Warren Gatland rings the changes for decisive third and final Test in South Africa August 3, 2021 British and Irish Lions head coach Warren Gatland has made six changes for the third and final Test against South Africa on Saturday. Josh Adams will make his Lions Test debut on the right wing, replacing Anthony Watson who drops out of the squad altogether. Duhan van der Merwe keeps his spot on the other [...]
Jack Ma’s Ant Group emerges as a steady ship amid China’s tech crackdown August 3, 2021 Fintech giant Ant Group, the brainchild of Chinese billionaire Jack Ma, has emerged a steady ship in its first-quarter amid a rocky political climate in China. Revenue rose to $31.8bn in the three months ending 30 June, a little below analyst forecasts. Following intense scrutiny from local regulators, the Chinese fintech giant has shifted into [...]
Shapps ‘under fire for amber watch list plan’ August 3, 2021 Grant Shapps is under fire today after reports that it was the transport secretary who first came up with the government’s now-axed “amber watch list” travel plan. Under the “amber watch list” category, countries on the “amber list” could be designated as being at risk of moving to the “red list” at short notice. Holidaymakers [...]
