Explainer-in-brief: firing up the coal plants to stave off the dark of night May 31, 2022 Six million British households could face power cuts this winter, as the consequences of Russia’s invasion of Ukraine send shockwaves across the energy supply chain. This is bad news not only for the people affected, who could see their electricity cut in the early mornings and evenings, but also for the green transition. Keeping the [...]
Should it take four hearings to decide employment status? May 31, 2022 Justine Riccomini explains the outcomes in the two latest employment status cases to emerge from the Court of Appeal Another two IR35 cases were decided recently, which furthered the cause of HMRC in their pursuit of television and radio presenters when the Court of Appeal found in favour of HMRC in both instances. Kickabout The [...]
Credit Suisse looks to raise $1bn as it reels from string of scandals May 31, 2022 Beleaguered lender Credit Suisse is looking to raise over $1bn as it reels from the financial fallout of a string of scandals in the past 18 months.
Sluggish start for FTSE 100 as Russian oil imports cut off May 31, 2022 The FTSE 100 was off to a sluggish start on Tuesday after EU leaders have hashed out a plan to block more than two-thirds of Russian oil imports. The capital’s premier FTSE 100 index was up just 0.2 per cent while the brent crude price rose again, at $124 a barrel. “Given Russia currently supplies [...]
Notorious activist Nelson Peltz takes board seat at Unilever May 31, 2022 Notorious activist investor Nelson Peltz has been appointed to the board of Unilever today after building a stake through his firm Trian Fund Management earlier this year.
GSK offers £2.6bn for US vaccine maker after failing to bring Covid jab to market May 31, 2022 GSK has offered to pay up to $3.3bn (£2.6bn) for a US vaccine maker, after the pandemic pushed the importance of biotechnology to the top of the healthcare agenda. The British pharmaceutical giant is set to pay $2.1bn (£1.6bn) upfront, and up to $1.2bn (£951m) more if the biopharmaceutical firm Affinivax meets specified development milestones, [...]
Soaring costs offset revenue boost for South West water giant Pennon May 31, 2022 South West water giant Pennon labelled 2021 a year of “resilient performance” today as it posted a dip in pre-tax profits to £127.7m for the full year.
US chipmaker Qualcomm eyes Arm stake and takeover May 31, 2022 US chipmaker Qualcomm is reportedly looking to buy a stake in the UK’s semiconductor darling Arm. “We’re an interested party in investing,” Cristiano Amon, Qualcomm’s chief executive, told the Financial Times last night. “It’s a very important asset and it’s an asset which is going to be essential to the development of our industry.” Amon [...]
B&M sales dip as discount retailer names new chief May 31, 2022 Discount retailer B&M has warned trading patterns are anticipated to “remain unpredictable” in the year ahead, while it feels ready to reap the rewards of shoppers hunting for bargains amid sky-high inflation. In results for the year to 26 March 2022, group revenue dipped 2.7 per cent on the prior year to £4.67bn. However, this [...]
Government’s net zero strategy only speaking to ‘energy elite’ warns Utilita boss Bill Bullen May 31, 2022 The government's net zero strategy is only resonating with the UK's "energy elite", argued Utilita Energy boss Bill Bullen.
