Huawei set for year of transition amid ‘technological Cold War’ January 11, 2021 Huawei will likely transition towards software as a “technological Cold War” controls the hardware supply, shifting the company’s prospects for 2021, analysts have said. Harsh US sanctions on China have hit suppliers of chips, which are crucial to mobile phone production, and forced the tech giant to look to other avenues. Ben Wood, chief of [...]
Rishi Sunak warns UK economy will ‘get worse before it gets better’ January 11, 2021 The UK’s economy is set to “get worse before it gets better”, Rishi Sunak has today warned. The chancellor told MPs this afternoon that the country’s latest lockdown has scuppered any economic recovery from last year and that the new restrictions will “have a significant impact on the economy”. The Office for Budget Responsibility (OBR) [...]
BT poaches Bharti Airtel executive in digital shake-up January 11, 2021 BT has poached a top technology executive from Indian telecoms giant Bharti Airtel to lead its digital transformation plans. The FTSE 100 behemoth today announced the appointment of Harmeen Mehta in the new role of chief digital and innovation officer. Mehta, who will report directly to chief executive Philip Jansen, will oversee a new digital [...]
Bitcoin value slumps by a fifth as City watchdog warns of risk January 11, 2021 Bitcoin was on track for its biggest one-day drop since March today, just hours after the City watchdog issued a warning about the “very high risk” of investing in crypto assets. The digital currency slumped more than 19 per cent to $30,699, marking its lowest level since in a week. The sell-off brought to an [...]
Exclusive: Shipping boss threatened staff with unpaid leave if they worked from home during lockdown January 11, 2021 The CEO of infrastructure facility provider Infrastrata told colleagues to defy government guidance and work from the office during the last national lockdown, or face unpaid leave. In an email sent to colleagues on 4 November and seen by City A.M., CEO John Wood told colleagues that anyone wishing not to come into the office during the lockdown [...]
Democrat sweep to open fiscal floodgates and boost growth January 11, 2021 Democrats have completed a sweep of Congress following the double victory in the state of Georgia’s run-off election. The disturbing scenes of protestors storming Capitol Hill last night may have soured the victory, but nonetheless the Democrat party now have control of the Senate and the House of Representatives for the first time since 2009. [...]
Jaguar Land Rover secures second straight quarter of sales growth January 11, 2021 Jaguar Land Rover closed out a brutal year for the car industry with a second successive quarter of sales growth, the luxury car brand reported today. The auto firm sold 128,469 cars in the last quarter, up 13.1 per cent from 113,569 vehicles sold in the preceding quarter. However, as a result of the pandemic, [...]
Twitter shares slide following ‘problematic’ Donald Trump ban January 11, 2021 Twitter’s shares went into reverse this morning following the social media site’s decision to ban US President Donald Trump. The platform permanently suspended the president’s account over the weekend, stating that there was a risk of further incitement of violence following riots at the Capitol last week. “After close review of recent Tweets from the [...]
The City is stepping up to offer mental health support January 11, 2021 The start of 2021 brings hope that this year will be a more positive one but there is no denying that the next few months will be tough as we deal with the national lockdown brought in by the Government to control the spread of COVID-19. So many of us are already feeling isolated and [...]
Regulator urges firms ‘don’t delay’ as the end is nigh for Libor January 11, 2021 The Financial Conduct Authority (FCA) has again reminded firms they must complete their transfer away from the Libor benchmark interest rate this year. The city watchdog said firms had just one year left to remove their remaining reliance on these benchmarks. Libor, or the London Interbank Offered Rate, is an interest rate benchmark used in [...]
