Revenue lifts at fresh food provider Bakkavor, but labour shortages bite September 8, 2021 Fresh food provider Bakkavor’s revenue has lifted above pre-pandemic levels, despite “unprecedented challenges in labour availability” which risk its operations running stale. Like-for-like revenue swelled by 6.4 per cent to £924.9m in the six months to 26 June, and 1.2 per cent ahead of the same period in 2019. The Fitzroy headquartered-based company, which [...]
Fem-tech keen investors pile £70m into British BlackRock-backed Elvie September 7, 2021 Women’s health technology firm Elvie has raised a total £70m in its latest capital rally, as investors are increasingly eyeing fem-tech as a more viable investment avenue. Investors piled an additional £12.7m into the fem-tech firm’s BlackRock-led Series C, after the company bagged some £30.4m in Series B funding back in 2019. The latest fundraiser, [...]
BBC director of news Fran Unsworth to exit next year September 7, 2021 The BBC’s director of news and current affairs, Fran Unsworth, is set to depart next year after four decades with the corporation. Unsworth said she feels the time is right to exit the coveted position, which she entered in 2018, after having a “ringside seat” at some of the world’s most era-shaping events. The departing [...]
UK chip maker takeover by Chinese firm halted on ‘national security grounds’ September 7, 2021 The merger between UK-based chip maker Perpetuus Group China’s Taurus International has been halted by the business secretary on “national security grounds”. Business secretary Kwasi Kwarteng on Sunday issued a public interest intervention notice to intervene in the proposed acquisition. The Competition and Markets Authority is now set to form a report into the transaction [...]
DS Smith reaps rewards of online shopping boom, but sees costs climb September 7, 2021 Packaging giant DS Smith has reaped the rewards of Europe’s pandemic-induced ecommerce boom, with its box volumes swelling past pre-pandemic levels. In its latest trading update, the European group said growth in box volumes had been recorded both in 2019 and in 2020 in the months to 1 May, driven by the demand in ecommerce [...]
US Nvidia’s $54bn UK Arm buyout faces EU competition concerns September 7, 2021 European Union officials have reportedly voiced competition concerns over US tech giant Nvidia’s purchase of UK chip design company Arm, in the deal’s latest wave of opposition. The Competition and Markets Authority (CMA) echoed the EU’s sentiment last month, saying the sale raises “serious competition concerns.” The California-based company is preparing to file for regulatory [...]
Covid and Brexit brew ‘perfect storm’ as Ikea stores hit by supply issues September 6, 2021 Ikea has been hit by the UK’s current lorry driver shortage, as it confirmed it is struggling with supplying around 1,000 of its product lines. The shortages, including mattresses in some stores, has been ignited by both the pandemic and Brexit, the Swedish furniture giant said. “Like many retailers, we are experiencing ongoing challenges with [...]
Russia blamed by German foreign ministry for parliament cyber attack September 6, 2021 Russia is responsible for a cyber attack on Germany parliament, a spokesperson for the country’s foreign ministry has said today. The attacks come ahead of Germany’s parliamentary election on 26 September, which will see chancellor Angela Merkel depart the helm, and could have prompted the string of violations. The spokesperson, Andrea Sasse, added that a [...]
Foreign investor confidence in Japan to bloom again following Suga exit September 6, 2021 Foreign investor confidence in Japan may be set to bloom following prime minister Suga’s departure from the helm, as the country emerges from its worst wave of the pandemic yet. Confidence plummeted eight per cent in August, according to data from Hargreaves Lansdown, as it grappled with rising cases alongside the 2020 Tokyo Olympics [...]
Taking off: New routes on way for City Airport as passenger numbers rebound September 6, 2021 Both British Airways and Deutsche Lufthansa have reportedly restored their flights to key financial hubs from London City Airport, as bosses eye the return of business travel. Zurich, Frankfurt and Rotterdam flights will start taking off again this month, Bloomberg reported, according to the airports chief operating officer Alison FitzGerald. “We’re seeing some early signs of [...]