Musk’s mad superapp-etite: Why his ‘everything app’ might miss the mark July 26, 2023 Another week, another Elon Musk melodrama. In yet another episode of his theatrics, the tech-obsessed billionaire unveiled his latest surprise this week: a dramatic overhaul of Twitter and rebrand of it as ‘X’. Musk said the name ‘Twitter’ “does not make sense” after the original short-messaging ethos with a 140 character limit having been scrapped [...]
Boeing posts £115m loss but aircraft deliveries pick up speed July 26, 2023 Boeing reported a $149m (£115m) net loss in its quarterly results on Wednesday, despite the plane maker seeing a rise in revenues on the back of “strong demand” for commercial aircrafts. The aerospace giant saw revenues increase to $19.8bn (£16.9bn), up 18 per cent year-on-year, which it said primarily reflected 136 commercial deliveries. It also [...]
Loss of tax-free shopping costing the UK £4.1bn, say London bosses July 26, 2023 Scrapping the tourist tax could generate £4.1bn annually for the UK economy, new research suggests, as a cluster of prominent business owners call for the government to reinstate VAT shopping for international tourists. Rishi Sunak scrapped the tax which saw international shoppers able to claim 20 per cent back with their purchases. It was largely [...]
Binance pulls plug on German crypto ambitions July 26, 2023 Binance has withdrawn an application to operate in Germany, citing significant changes 'both in the global market and regulation'.
Coca-Cola forecasts upbeat annual results on higher prices, steady demand July 26, 2023 Coca-Cola Co raised its annual revenue and profit forecasts after beating quarterly results on the back of higher pricing, with demand for its sodas remaining resilient at a time when consumers are cutting back on non-essential spending. The company’s shares rose about one per cent in premarket trading on Wednesday. The results point to steady [...]
Ofgem moves to shore up energy sector risk consolidating big firms’ market power July 26, 2023 Suppliers are facing tightening financial rules from regulator Ofgem, which is desperate to avoid a repeat of the domestic energy crisis.
Banks agree to protect freedom of expression after Farage furore July 26, 2023 Bank bosses today agreed to protect freedom of expression after they were hauled in for talks with City minister Andrew Griffith following the closure of Nigel Farage’s bank account. In a meeting today with bank bosses in the Treasury, representatives from Natwest, HSBC, Nationwide, Lloyds, Santander and Barclays committed to not ‘debank’ customers because of [...]
Aston Martin surges ahead of market expectations with £134m gross profit July 26, 2023 Aston Martin’s second quarter results raced past market expectations, as the marque benefitted from booming demand for a range of its newly unveiled makes. Revenues rose 23 per cent from £309m to £381.5m in the second quarter, while gross profit was up 29 per cent from £104.1m to £134.4m. Shares in the luxury carmaker rose [...]
Fish and chip-per: ‘Classic’ pub grub leads the way for Marston’s surging sales July 26, 2023 Marston’s thanked warmer weather in June and appetite for classic pub like fish and chips grub for a surge in like-for-like sales for the 16 weeks ended July. Unusually hot spells at the start of summer drove customers to pubs, with more people drinking and dining out hiking like-for-like sales by 10.9 per cent. Group [...]
Hunt tells banks and energy firms to use profits to support customers and avoid a ‘fiscal intervention’ July 26, 2023 Chancellor Jeremy Hunt has urged big banking and energy firms to use their profits to help customers with the cost of living crisis, and avoid intervention from the Government. In an article calling on corporations to support the public through Britain’s ongoing economic woes, he appealed to firms to be more responsible, pitching a “social [...]
