Elon Musk sells $4bn in Tesla stock amid Twitter takeover April 29, 2022 Elon Musk has sold around $4bn (£3.2bn) worth of Tesla stock, a security filing has revealed, as the eccentric billionaire preps for his Twitter takeover. Musk, the man behind SpaceX, sold the shares over the past few days, adding in a tweet that he does not plan to sale any further shares. Tesla’s shares closed [...]
Amazon posts first quarterly loss since 2015 as higher costs and lower sales hit bottom line April 29, 2022 Shares in Amazon have plummeted after the e-commerce giant posted its first quarterly loss in seven years, as the firm faced a litany of challenges that led to higher costs and lower sales. The Seattle headquartered firm posted its first quarterly loss since 2015, as staff shortages and inflationary pressures increased its costs and the [...]
Liz Truss ‘appalled by serious allegations’ after British Virgin Islands premier held in drug-smuggling sting April 29, 2022 The head of the British Virgin Islands, a British overseas territory, has been arrested in a sting operation accused of smuggling cocaine in to the United States. Andrew Alturo Fahie, was held as he boarded a plane in Miami, seized up by undercover agents posing as traffickers. The official was with the head of the [...]
Apple beats expectations with record revenues and profits amid looming pandemic headwinds April 29, 2022 Apple has reported record revenues in the second quarter of its financial year with turnover soaring to $97.3bn between January and March.
Easyjet partners with aerospace supplier GKN on £54m hydrogen project April 29, 2022 Easyjet announced today it has partnered with aerospace supplier GKN Aerospace to develop hydrogen fuels for aviation. The airline will support the development GKN Aerospace’s projects on hydrogen combustion and hydrogen fuel cell technology as part of its pledge to reach net-zero emissions by 2050. Easyjet said it will focus on the operational requirements and [...]
Raw material inflation translates to continued price hikes for Travis Perkins April 29, 2022 Travis Perkins has continued to pass off the growing costs of raw materials through price hikes, as it recovers from sustained supply chain hang-ups. “Pricing accounted for approximately two-thirds of the growth with manufacturer increases continuing to be passed through in an orderly manner,” the retailer said in its latest trading update today. “The group’s [...]
The City A.M. awards: A spectacular night in the Square Mile April 29, 2022 Almost two and a half years since the last City A.M. gala dinner, the brightest lights in the London business community gathered in person once again to toast the Square Mile’s success in what was an extraordinary year. Held for the first time in the Guildhall, the awards recognise those who made the City great [...]
M&C Saatchi reinstates dividend after swinging back to profitability April 29, 2022 Advertising agency M&C Saatchi today said it had returned to profitability after pretax profits of £21.6m for 2021, compared to an £8.5m loss in 2020. The communications agency spun out of Saatchi & Saatchi in 1995 said it plans to reinstate its dividend 2022, after failing to pay it last year. The firm claimed its [...]
White paper signals formal end to BBC licence fee April 29, 2022 The government has issued a white paper signalling the formal end of the BBC licence fee. The 42-page document acknowledged “clear challenges on the horizon to the sustainability of the licence fee”, while saying sanctions for not paying the fee were “disproportionate and unfair”. According to the Times, the government said: “We need to consider [...]
Natwest’s profits soar as high interest rates boost bank’s mortgage business April 29, 2022 Natwest today said its profits had almost doubled since the previous quarter, despite inflation, the cost-of-living crisis, and the war in Ukraine. The bank said it had generated £841m in profits in the first quarter of 2022, up 93.8 per cent compared to the £434m in profits Natwest posted in Q4 2021. The first quarter [...]
