Pound sinks to lowest level against US dollar since 1985 September 7, 2022 The pound today sunk to its lowest level against the US dollar since 1985, driven by investors sweating over the health of the UK economy and a borrowing splurge. Sterling fell to $1.1406 briefly today, marking another dismal milestone for the currency. The last time the pound fell that low was when Margaret Thatcher was [...]
Cineworld files for bankruptcy in the US September 7, 2022 Cineworld has filed for bankruptcy in the United States, as things go from bad to worse for the beleaguered cinema chain. The cinema chain announced last month that it was voluntarily seeking a Chapter 11 bankruptcy filing in the US, sending shares down 25 per cent. Shares in Cineworld have been in freefall in the past few weeks, with [...]
TfL warns of Boris bikes’ suspension this weekend amid e-bikes roll-out September 7, 2022 TfL has warned Londoners that they will not be able to use Boris bikes this weekend as the public body is rolling out a new electric fleet. The cycle hire scheme will be suspended from 10pm on Friday to 6am on Monday, to allow the network’s system to be upgraded. “I am delighted to be [...]
When the chips are down: Samsung boss warns of weakening demand September 7, 2022 The global semiconductor industry may take a turn for the worse after years of steadily rising demand, the CEO of Samsung Electronics has warned. Semiconductors, or computer chips, are used in most of today’s technology and are a critical component in electric vehicles. “The second half of this year looks bad, and as of now, [...]
HMRC calls on collapsed bank’s UK customers to hand over tax information September 7, 2022 HM Revenues and Customs has called on Euro Pacific Bank’s British customers to hand over information about their tax affairs, following the launch of a tax evasion probe into the Puerto Rican bank. The UK taxman called on the around 600 people in the UK who used Euro Pacific Banks services to come forward after [...]
Willie Walsh: Fuel prices will put pressure on carriers for rest of year September 7, 2022 Increasing fuel prices will continue to put pressure on airlines’ costs for the rest of the year, according to aviation boss Willie Walsh. “I am aware of some airlines that have embarked on hedging in recent months … just to provide themselves with some protection against the volatility that we’re witnessing,” said Walsh – a [...]
Keeping up with private equity: Kim Kardashian launches investment firm with former Carlyle exec September 7, 2022 Having dabbled in the world of crypto, Kim Kardashian is now turning her hand to private equity.
Fund exodus slows as UK retail investors pull £129m in July September 7, 2022 An exodus of UK retail investors slowed in July as just £129m was pulled out of funds by cautious punters, a sharp decrease from £4.5bn in June, according to new industry figures.
Gymshark to open doors of first physical store on London’s Regent St next month September 7, 2022 Gen Z sportswear retailer Gymshark is set to make its venture into physical retail this autumn, revealing the opening date of its Regent St flagship. The online brand is to open up shop at 165 Regent St on Saturday 1 October, after huge success over the last few years. Gymshark store on Regent Street will [...]
Boeing says it stopped buying aluminium from Russia September 7, 2022 Boeing stopped buying aluminium from Russia earlier this year as Moscow was hit by Western sanctions following the invasion of Ukraine, the company said late last night. “Boeing suspended purchasing aluminium from Russia in March, as we suspended major operations in Russia,” it said in a statement. Russia is the world’s second largest producer of [...]
