Nissan: 250 jobs are safe despite engine cylinder factory ceasing production August 23, 2022 A Nissan factory in Sunderland is to cease production in 2024 but the company says it does “not expect this to result in job losses”. The car-maker said its engine cylinder factory will close after Renault, its only customer, did not renew a contract to produce the cylinder heads. In a statement to City AM, [...]
Inflation surge pushes UK economy to edge of stagnation August 23, 2022 Brits reining in spending amid a historic inflation surge has steered the UK economy to the edge of “stagnation,” a closely watched survey released today shows. S&P Global’s flash composite purchasing managers’ index (PMI), which measures activity across the private sector, dropped to 50.9 this month, down from 52.1 in July. The figures indicate “the [...]
Navigating systemic risks: Ukraine, climate and crypto August 23, 2022 “You cannot anticipate exactly how these risks or dangers are going to play out… But we should be pretty assertive in insisting that we need certain principles, including enough capital buffers — that is, equity unencumbered by any kind of contingent debt or anything like that — that can really withstand shocks in the core [...]
‘Business as usual’: Gatwick returns to black and scraps passenger cap August 23, 2022 Gatwick has returned to business as usual following a turbulent two years, plagued by Covid and, more recently, by this summer’s travel chaos. Chief executive Stewart Wingate told City A.M. that the West Sussex airport recovered strongly following the UK Government’s decision to scrap all Covid travel rules, posting a profit after tax of £50.6m [...]
Zoom cuts earnings forecasts for the year in the march back to the office August 23, 2022 Zoom has cut its earnings forecasts for this year, having recorded its lowest quarterly revenue growth yet. The pandemic communications darling had revenue rise eight per cent to a little over $1bn (£851m) in the second quarter, Zoom’s “fifth straight quarter with revenue of over one billion dollars”, chief financial officer Kelly Steckelberg said in a [...]
Germany chases Canadian LNG to stave off supply shortages this winter August 23, 2022 Germany is targeting Canadian liquefied natural gas to help ease its shift away from Russian gas imports this winter.
Elizabeth line: Direct services from Reading and Heathrow to central London will begin in November August 23, 2022 Businesses have welcomed the integration of Elizabeth line services from Heathrow, Reading and Shenfield from 6 November. “The upgraded services will be greatly welcomed by businesses across the Capital that rely on footfall more than ever before to help them navigate their recovery from Covid, cost of living pressures and rising inflation,” said Ruth Duston, [...]
Co-op appoints Shirine Khoury-Haq as first female chief in 159 years August 23, 2022 The Co-op has appointed its former chief financial officer and interim boss Shirine Khoury-Haq as group CEO. The group’s former boss Steve Murrells, stepped down in May following the company’s annual general meeting. Murrells took the reins of the supermarket as CEO in March 2017, following a five year stint heading the company’s food business. [...]
NFTs and sport: How to avoid being left holding the (boot) bag August 23, 2022 Rafi Azim-Khan - Head of Data Privacy and Marketing Law at Pillsbury - delves into the murky yet interesting world of NFTs and sport.
Interest rate speculation leaves Bitcoin investors spooked August 23, 2022 The price of Bitcoin continues to hold above $21k this morning, roughly flat over the past 24 hours at around $21,180.
