Netflix fall a sign investors are looking again for fundamentals April 20, 2022 When the electric carmaker Rivian listed on Wall Street last year, it was briefly valued at more than Anheuser-Busch. The latter, most famously, produces Budweiser; a beer that sells in great quantities for more than it costs to produce. It is a functioning, well understood business, and despite the best efforts of governments we remain [...]
Amazon European retail arm paid no taxes on €51bn of sales in 2021 April 20, 2022 Amazon's European retail business reported losses of €1.16bn (£963m) in 2021 allowing the company to pay no income tax.
Long-read: Has the twit hit the fan? April 20, 2022 THE HOT topic in tech over the past week or so has been Elon Musk’s hostile $43bn bid for Twitter, which set off a firestorm of, well, tweets.Some claimed Elon Musk was riding to the rescue of free speech, others that his success would mark another step towards the breakdown of democracy. In all this [...]
Starmer urges Tory backbenches to turn on Johnson in partygate vote April 20, 2022 Sir Keir Starmer has urged Tory backbenchers to turn on Boris Johnson tomorrow and vote for a House of Commons inquiry into the Downing Street partygate scandal. Starmer said that Tory MPs should “do the right thing” and “respect the sacrifices that their constituents made during the pandemic”. The vote, tabled by the opposition parties, [...]
Coca-Cola exec spared jail after accepting £1.5m in bribes April 20, 2022 A senior manager at soft drink manufacturer Coca-Cola has handed a 20 month suspended sentence after accepting bribes worth £1.5m. A judge at Southwark Crown Court handed 56-year-old Coca-Cola executive Noel Corry a 20-month suspended sentence and ordered him to carry out 200 hours of unpaid work. The Coca-Cola exec’s conviction comes after Corry admitted [...]
Putin says new nuclear-capable missile will make West ‘think twice’ April 20, 2022 Vladimir Putin sent a stark warning to the West today as Russia tested a new intercontinental ballistic missile, which the President said will make the West “think twice”. The Sarmat missile, which can hold more than 10 nuclear warheads at a time, can reportedly hit any target on earth and is set to be in service [...]
Germany to phase out Russian oil supplies as West piles pressure on Russia April 20, 2022 Germany has announced it will stop importing Russian oil by the end of the year, as the West ramps up pressure on the Kremlin.
FCA allows UK firms to exclude trans women from gender diversity targets April 20, 2022 The City regulator will allow UK firms to choose whether they use sex or gender as the basis for reporting on workplace diversity.
The City View: Netflix stock plummets, and Interactive Investor’s Richard Hunter on “easy money” decade, strong UK markets April 20, 2022 Today Andy Silvester talks to Richard Hunter, Head of Markets at Interactive Investor. They go through strong UK market performance; US indices — Netflix woes, and the NASDAQ’s near 13% dip this year; and the “easy money” economy this past decade, and how going forward young traders might be seeing lower returns on their investments [...]
Steepening yields boost London-listed banks April 20, 2022 Financials led the way in the City today as a steepening in global yields boosted sentiment to banks and fund managers. London’s premier FTSE 100 index climbed 0.37 per cent to 7,629.22 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, closed 0.58 per cent [...]
