Bus cuts: Westminster Council ‘deeply concerned’ as savings drive forces TfL into drastic service reduction June 1, 2022 Westminster Council has expressed “deep concern” after Transport for London (TfL) announced it was planning a raft of bus cuts following the government’s refusal to offer the public body long-term backing. “I am deeply concerned that the government’s failure to properly fund Transport for London while we recover from the pandemic may have a real [...]
Car production will improve this fiscal year, says battery maker Panasonic June 1, 2022 Car production is expected to improve this fiscal year, according to battery maker Panasonic. The Osaka-based giant – who makes batteries for marquees such as Tesla – said its total revenue derived from the automotive market will increase from 14 to 19 per cent, with operating profit growing by 16.6m yen (£101.9m). “We will be [...]
Social care startup sets ‘broken system’ in sights after £28.5m cash injection June 1, 2022 London-based social care startup Florence said it is looking to solve the issues of the “broken” care system today after securing a £28.5m cash injection.
SoftBank and Goldman Sachs back EV supercar maker Rimac in €500m funding round June 1, 2022 Giants SoftBank, Goldman Sachs and Porsche have backed electric vehicle (EV) supercar maker Rimac in a €500m funding round. The Croatian company’s valuation soared to €2bn following the backing. According to chief executive Mate Rimac, the investment will be used to scale up its driving robotaxi venture, which has been in the works for the [...]
Binance Labs closes $500m investment boost for blockchain, Web3, ‘value-building’ tech June 1, 2022 Binance Labs, the venture capital and incubation arm of crypto exchange Binance, has closed its new $500 million investment fund.
UK manufacturing growth slumps to 16 month low June 1, 2022 The soaring cost of living and a slowdown in shopper demand choked off growth in British manufacturing last month as the sector expanded at the weakest rate since January 2021, a closely watched survey revealed today
Here are the bus routes set for change and cancellation amid TfL cuts June 1, 2022 Transport for London (TfL) announced today it will have to withdraw or change 78 of the current 620 bus routes to comply with government pressures. Launching a six-week consultation, the public body said the routes were chosen because they transit through zones which have a higher provision of buses. “We know that these plans will [...]
GSK’s split healthcare division Haleon to list on London’s main market in July June 1, 2022 British pharmaceutical giant GlaxoSmithKline (GSK) has successfully split from its consumer healthcare division, which will list separately on the London Stock Exchange this summer. The division, now known as Haleon, will enter London’s main market on 18 July, GSK confirmed in a regulatory update today, as it awaits a response on its application to the [...]
Can Bitcoin carry May’s strong finish into June? June 1, 2022 A strong start to the week for Bitcoin continues this morning, with the largest cryptocurrency holding roughly flat at around $31,500.
Explainer-in-brief: A refresher in getting rid of a Prime Minister June 1, 2022 Are there enough letters? Are there not? Another MP, John Stevenson, publicly announced he had written one. For those who have forgotten, or wilfully blocked out the Theresa May-era of votes of no confidence, even if the magic number of 54 letters do find their way to Sir Graham Brady, Boris Johnson won’t necessarily be [...]
