Network Rail tumbled to £1.1bn loss after ‘deeply bruising’ year of strikes July 18, 2023 Network Rail tumbled to a £1.1 billion loss for the past year as it was impacted by strike action and higher interest payments on its debts. The body, which owns and manages the infrastructure of most of the UK’s railway network, saw losses grow for the year to March 31 from a £324 million profit [...]
TNT Sports replaces BT Sport in ‘clean slate’ – but bumps lie ahead July 18, 2023 TNT Sports will appear on the television screens of sport fanatics across the UK and Ireland from today, replacing BT Sport. It was revealed in February that BT Sport would undergo a rebrand to TNT Sports as part of a deal between the broadband giant and Warner Bros. Discovery (WBD), signed last autumn. The media [...]
Countdown on for Microsoft and Activision as they try to extend deal deadline July 18, 2023 Time is ticking for Microsoft and Activision Blizzard, which are reportedly in discussions to extend the deadline for their proposed multi-billion pound tie up. Originally set to be closed by today, the deal may now require more time as the two tech companies work to address regulatory concerns, according to sources close to Reuters. If [...]
Explainer: Barbie vs Oppenheimer July 18, 2023 This week, there has been a fierce fight between two warring parties. They're as different as they possibly could be, they have their own party colours and have thrown huge piles of cash at their success.
The West is now awake to the critical minerals race, says Rio Tinto boss July 18, 2023 Governments across the West have woken up to the urgency needed to secure essential metals and minerals, Rio Tinto's chief executive has said.
FCA under fire over greenwashing regulation delays July 18, 2023 The City watchdog has come under fire from a top industry group today after it announced it would delay a key set of guardrails for ‘environmental, social and governance’ investment products.
Conservatives heading for triple by-election loss, bookies predict July 18, 2023 The Conservatives are tipped for a triple by-election loss this week as they prepare to do battle in three Tory seats, bookies have predicted. Voters in Uxbridge and South Ruislip, Selby and Ainsty and Somerton and Frome will head to the polls this Thursday to select new MPs. Ballots are expected to be an electoral [...]
Morgan Stanley profits fall on dealmaking slump while rising rates lift Bank of America July 18, 2023 The continued lull in dealmaking hit Morgan Stanley’s profit despite a strong performance from its wealth management arm, while rising rates lifted Bank of America. Income at Morgan Stanley, which specialises in investment banking, slipped to $2.2bn in the second quarter, down from $2.5bn the year before but in line with analyst expectations. This fall [...]
Picture is ‘bleak’ for business as insolvencies rise again in June July 18, 2023 Insolvencies increased again in June as businesses continued to struggle under the weight of rising costs and falling customer demand. According to new figures from the Insolvency Service, there were 2,163 insolvencies in June. Although this was down on last month’s record figure of just over 2,500, it was still 27 per cent higher than [...]
Banks must tell savers if better deals are available under Consumer Duty, FCA says July 18, 2023 The Financial Conduct Authority (FCA) has warned banks that they must inform savers if better deals are available once the new Consumer Duty comes into force at the end of the month. In a letter to the Treasury Select Committee, the FCA said it is “more critical than ever that borrowers and savers are offered [...]
