Musk sells $7bn worth of Tesla shares as Twitter battle heads to trial August 10, 2022 Elon Musk has sold nearly $7bn (£5.7bn) worth of Tesla shares as his battle with Twitter over his botched takeover heads to court. Musk, tech entrepreneur and the world’s richest man, will head to trial on 17 October. Musk had sold $8.5bn (£7bn) worth of Tesla shares in April, assuring shareholders that he was not [...]
Letters: Inclusive gaming or game over August 10, 2022 [Re: Nintendo sales continue to slump as supply chains and fading engagement bite, August 3] Nintendo may be betting on the new Pokemon to change its fortunes this year, but it needs to do more to convert casual fans into repeat players. Games are intended to be inclusive spaces, where you can be whoever you [...]
Insurers grapple with transition to a greener world August 10, 2022 Last week, a coalition of thirteen of the UK’s major insurers vowed to cut their supply chain emissions as part of the Sustainable Markets Initiative’s (SMI’s) sustainable supply chain pledge. In signing the SMI pledge, the 13 insurers and brokers – including Axa, Phoenix, Lloyd’s, and Direct Line – vowed to work with their suppliers [...]
Aviva hikes dividend and assures £400m takeover nearly over August 10, 2022 Insurance giant Aviva has sought to soothe investor concerns today, confirming that the nearly £400m takeover of Succession Wealth will be completed later this year. The deal is expected to be wrap up in the second half. While its interim dividend for this year has jumped 40 per cent to 10.3p per share – up [...]
Royal Mail expects full-year loss if strikes go ahead August 10, 2022 Royal Mail said it would be “materially loss-making” for the financial year 2022-2023 if its employees go ahead with planned strike action. More than 115,000 Royal Mail postal workers are set to strike for four days in a dispute over pay, with the Communication Workers Union (CWU), which represents the workers, announcing that 24-hour walkouts [...]
China’s zero-Covid policy hits Prudential’s business August 10, 2022 London insurance company Prudential today said it had suffered steep losses from its Hong Kong business due to China’s zero-Covid policy. The Asian focused insurer said profits from underwriting new policies fell 31 per cent in Hong Kong and four per cent in Mainland China. Covid restrictions in Prudential’s other cornerstone markets – Indonesia, Malaysia, [...]
Widening losses for Deliveroo while Next chair Lord Wolfson exits board August 10, 2022 Delivery platform Deliveroo has posted a heftier loss while also announcing the departure of Next chair Lord Simon Wolfson from its board. In its half-year results, the London-listed firm posted an adjusted EBITDA loss of £68m, a wider loss than the £26m posted in the first half of 2021. However, it marked an improvement of [...]
We can’t connect to 5G if it strips away property rights August 10, 2022 Lower taxes, net zero and rising fuel costs have dominated the Tory leadership debate. But as we move into the final month of the run-off between Liz Truss and Rishi Sunak, another battle is raging that strikes at the heart of true Conservative values. We’ve heard a range of promises directed at card-carrying Conservative farmers, [...]
Fear has pushed us back to cash as banks fail to help consumers control spending August 10, 2022 We’ve come to believe we live in an almost completely cashless society today. In fact, withdrawing large amounts of cash from your bank is viewed with suspicion – victim of fraud or tax evasion? What other possible reason could you have for cash? Even Big Issue sellers now have Square readers to accommodate this shift. [...]
Admiral profit and share earnings halve as ‘unique’ pandemic conditions fade August 10, 2022 Insurance giant Admiral has had its pre-tax profits and share earnings halve over the past year, nearing pre-pandemic levels as the “unique” Covid-19 market conditions fade. The group’s profit before tax sunk 48 per cent to £251.3m in the six months to 30 June, in comparison with the same period in 2021. However, the figure [...]
