Wood boss hails ‘momentum’ despite revenue dive as order book swells to $7.7bn August 24, 2021 Energy infrastructure group Wood has seen its orderbook swell to $7.7bn in the past six months, while revenue has taken a tumble. Shares had slipped 0.64 per cent to 232.1p per share, following the announcement. Revenue sank 22.9 per cent in its interim results for the six months to 30 June, which the group put [...]
Baidu-backed AI voice assistant firm Xiaodu racks up $5.1bn valuation August 24, 2021 Chinese tech giant Baidu has confirmed its artificial intelligence voice assistant firm Xiaodu Technology has racked up an eyewatering $5.1bn valuation today. Following the artificial intelligence (AI) firm’s Series B fundraiser, Baidu will remain a majority shareholder. The lofty valuation comes in amid a local regulatory clampdown, spearheaded by Beijing, which has locked eyes on [...]
China pauses over 40 IPOs as hawkish eyes fall on intermediaries August 24, 2021 Shanghai and Shenzhen stock markets have hit pause on more than 40 initial public offerings, as Chinese regulators probe several intermediaries featuring in the deals. The Shenzhen Stock Exchange has suspended more than 30 initial public offerings (IPOs), including public listing plans by electric car manufacturer BYD’s chip-making unit, which was scuppered on Wednesday. [...]
Business blow: UK-US travel corridor could remain closed until November August 24, 2021 The UK and US travel corridor could remain closed to Brits until late November, according to reports, in a major blow for both business and leisure. Currently, the US is only allowing American citizens, their relatives and a few exempt groups into the country. Virgin Atlantic has already postponed its restart date for its Heathrow to [...]
Extinction Rebellion: Giant climate talk table set up in Trafalgar Square August 23, 2021 Climate activist group Extinction Rebellion have erected a giant pink table in the centre of London today, in their bid to ensure everyone gets a seat at the table of discussion when it comes to the warming climate and its impacts. The four-metre structure, which reads “come to the table” and has been fit [...]
Gupta’s GFG carving out deal with White Oak to inject cash into European steel mills August 23, 2021 Sanjeev Gupta’s metals giant GFG Alliance is reportedly carving out a deal with White Oak Global Advisors for the refinancing of his European operations. The deal, which would circle GFG’s steel mills in Romania and the Czech Republic, could end months of uncertainty for thousands of steelworkers, the Financial Times first reported, citing people familiar [...]
Households with gas boilers could be taxed for the higher-carbon option August 23, 2021 UK households with gas boilers could be taxed for the high-carbon option, a strategy review has suggested, as the government races to meet its net-zero target. In a bid to transition households towards low-carbon solutions, the Heat and Building Strategy is looking like it will conclude that gas users could face higher bills and charges. [...]
Afghanistan: UK ups evacuations as Taliban warns against an overstay August 23, 2021 The UK is set to fly around 6,000 British and Afghan citizens out of Afghanistan this week, as it ramps up its evacuation plans. To help more people leave the country, the military has extended the deadline for the final RAF evacuation flight from tomorrow to Friday or Saturday, according to Time Times. The total [...]
Asos billionaire’s petition to stop spaceport plans scrapped by judge August 20, 2021 Danish billionaire Anders Povlsen’s attempt to stop approved plans for a spaceport in Scotland has been scrapped by a court judge. Povlsen, Asos’ largest shareholder and Scotland’s richest man, has reportedly been against the building of the spaceport after investing in a rival project. The Sutherland spaceport will be the UK’s first vertical launch facility, [...]
Happy investors: M&S shares jump after lifting full-year profit forecast August 20, 2021 British high street staple Marks & Spencer has lifted its profit guidance to around £350m for the year as its sales have begun to recover, inching towards its pre-pandemic recordings. The upbeat trading update seemingly left investors with a fresh bout of confidence in the retail heavyweight, as M&S shares jumped by 11.14 per [...]
