Gas prices rise as Gazprom threatens supply cuts to Ukraine pipeline November 23, 2022 Gas prices have climbed after Gazprom warned it could further limit supplies into Europe next week amid a dispute with Ukraine.
Londonmetric suffers £100m rates-fuelled blow to property portfolio value November 23, 2022 Londonmetric Property has emerged as the latest real estate investment trust to suffer an interest rates-fuelled hit to its portfolio. The portfolio, which still stands at £3.5bn, has shed £100m in value since March, as the company’s property and capital returns dwindle. Rising interest rates has eroded the value of several of the UK’s largest [...]
Crypto exchange OKX opens its balance sheet as sector scrambles to restore trust November 23, 2022 Crypto exchange OKX has revealed the state of its balance sheet today to prove to customers it has not been gambling with their cash, as the industry scrambles to restore confidence in the wake of FTX’s collapse.
Riots break out at world’s biggest iPhone factory in China over Covid and pay November 23, 2022 Protests have broken out at the world’s biggest iPhone factory in the Chinese city of Zhengzhou. According to reports from Bloomberg, workers at the Foxconn Technology plant started to protest overnight over unpaid wages and fears of Covid rates. Footage has circulated online, showing hundreds of workers marching, with riot police present. Tensions have been growing in [...]
Exclusive: Government oblivious to scale of crypto tax-dodging despite ‘global hub’ plans November 23, 2022 The government has made no calculations on the amount of dodged tax takings on cryptoassets despite the Treasury’s plans to turn the UK into a hub for crypto, City A.M. has learned.
Fresh cash will save 53 bus routes as Sadiq Khan warns ‘tough decisions needed elsewhere’ November 23, 2022 Over 50 London bus routes were saved today after London mayor Sadiq Khan announced a £25m worth of annual funding. The extra cash will be used to prevent 53 routes from being withdrawn following concerns from thousands of Londoners. The £25m per year will be in addition to a £500m facility set up by City [...]
Welcome uptrend sweeps across crypto markets November 23, 2022 Bitcoin is up by more than 5% this morning, while Ethereum has added more than 7% to its price over the last day.
UK economy arrests decline but recession still coming November 23, 2022 The UK economy has arrested a decline, but it still looks likely to tip into a long recession, a closely watched survey out today has unveiled. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) flash purchasing managers’ index (PMI) for November inched up to 48.3 points from 48.2 in October. It is [...]
Explainer-in-brief: Tampax joins the losers of social media PR November 23, 2022 Tampax is facing a boycott after a Twitter post that was branded as blatant misogyny and accused of sexualising periods. The company is not the first one that has tried to be funny or to leverage social media and completely failed. American fashion brand Kenneth Cole attributed the “uproar in #Cairo” during the Egypt revolution [...]
Johnson Matthey profits chipped away by inflation and supply chain woes November 23, 2022 Johnson Matthey’s profits have been eaten into by soaring inflation and ongoing supply chain disruptions. The British chemicals maker had its operating profit dive a quarter to £222m on an underlying basis in the six months to the end of September, according to the group’s latest results. Supply chain constraints have hit the group’s clean [...]
