TikTok beats Google for top internet hotspot December 24, 2021 Video sharing platform TikTok has beaten Google as the most popular online destination after soaring in popularity over the course of the pandemic. Fuelled by Gen Z amid social restrictions, the app has held the top position since August, after dethroning Google in February, March and June. Google came first last year, and was surrounded [...]
Champagnes bubble up in price amid trickling supply and upbeat demand December 24, 2021 Champagnes have bubbled up in price amid a trickling supply and higher demand over the course of the year. The cost of vintage champagnes such as Dom Pérignon 2008 and Krug 2000 have ballooned in price this year, outperforming global stocks, the Financial Times reported, as investors spy returns in previously overlooked assets. In general, [...]
Octopus Renewables Infrastructure snaps up Finnish windfarms for €140m December 24, 2021 Octopus Renewables Infrastructure has snapped up two onshore wind farms in Finland for around €140m, as it expands into ‘new territory’. The figure includes the acquisition as well as the payments from its final construction stages, and forms part of Europe’s plan to transition to sustainable energy sources. The Saunamaa and Suolakangas wind farms have [...]
Babcock finalises sale of energy business as it seeks to streamline operations December 24, 2021 Babcock has finalised the sale of its energy business today for a total of £50m, as it seeks to streamline the company. The London-based aerospace, defence and nuclear engineering services company, had been delivering power to National Grid, Scottish Power Energy Networks and Western Power Distribution. The energy unit, which pulled in a £70m profit [...]
Major infrastructure changes needed to prevent future supply chain crises, says ex Tesco boss December 23, 2021 Major infrastructure changes are needed to relieve the UK’s supply chain struggles and prevent similar crises in the future, the government’s logistics tsar has reportedly cautioned. Former Tesco boss Sir Dave Lewis said that the “seismic move in consumer shopping habits… Together with a global shipping challenge, has shown the pressure on our existing supply [...]
Tencent dishes out over $16bn to shareholders in JD.com windfall December 23, 2021 Chinese tech giant Tencent is set to dish out $16.4bn to its shareholders in the form of the majority of its stake in JD.com. The move will see the gaming and social media group cut its holding from 17 per cent to just 2.3 per cent. It means Tencent will step down from the helm [...]
Pret A Manger sees dwindling City sales amid latest Covid-19 wave December 23, 2021 Pret A Manger has seen dwindling transactions amid the latest Covid-19 wave, which has hit its City stores hardest. Sales in the café chain’s store in the City have dropped by nearly a third, according to the Office for National Statistics, the lowest level Pret has experienced since late August. Pret, which operates around 400 [...]
David Cameron: ‘Boris has always been able to get away with things’ December 23, 2021 Former prime minister David Cameron has said that Boris Johnson can often get away with things that others cannot, following a string of restriction-breaking and Tory sleaze allegations. The pair have moved in similar circles for some time, first meeting at the Bullingdon Club as young men, a private all-male dining club for Oxford University students. Cameron, [...]
More competitive travel prices on the horizon? Wizz Air poaches Gatwick take-off slots December 23, 2021 Budget carrier Wizz Air is set to be taking off from Gatwick next spring, after winning the rights at Britain’s second largest airport. It puts Wizz in a strong position going into the new year, after several years of battling rivals Ryanair and easyJet in the affordable European short-haul market. As travel prices rise alongside [...]
Odey Asset Management fund manager snags £15m annual payout December 23, 2021 A hedge fund manager at Odey Asset Management has snagged the biggest annual payout this year – reportedly beating its prominent founder. James Hanbury, who manages the firm’s largest fund the Odey Absolute Return, took home an eyewatering £15.6m, according to account filings. The hefty payout follows the asset manager enjoying a profit jump of [...]