China soft data signals economic recovery running out of steam May 16, 2023 China’s April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-Covid-19 recovery. Tuesday’s batch of data, which also showed a further decline in property investment, adds to concerns about the outlook for the [...]
Brompton rides ahead with £19m stake sale as it anticipates China boost May 16, 2023 Brompton, the manufacturer of London’s iconic folded bikes, is set to sell a £19m stake in the firm to the Business Growth Fund (BGF), as it looks to accelerate its expansion. Chief executive Will-Butler Adams told The Times that it would announce the sale soon. The deal values the company at £200m including the new [...]
FTSE 100 close: Vodafone tumbles more than seven per cent after announcing 11,000 job cuts May 16, 2023 London’s FTSE 100 gave up gains today as fresh data yielded tentative signs that the UK workforce is rebalancing and telecoms giant Vodafone tumbled quickly. The capital’s premier index fell 0.34 per cent to 7,751.07 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was [...]
Russian oil exports reach highest levels since Ukraine invasion as China and India buy up supplies May 16, 2023 Russian oil exports shot up to their highest levels since its invasion of Ukraine, with the majority heading towards China and India, according to the International Energy Agency. In its latest monthly oil report, the Paris-based climate agency said total oil shipments reached “a post-invasion high” in April rising to 8.3m barrels per day (bpd), [...]
EU approves new set of MiCA rules for cryptocurrency May 16, 2023 A slew of new rules to govern the use of cryptocurrency and digital assets throughout the European union have been approved.
CBI appoints new executive to revamp culture after sexual abuse claims May 16, 2023 The Confederation of British Industry, the lobbying group dealing with accusations of sexual misconduct, has hired a new executive to crack down on its toxic culture. Chief people officer Elizabeth Wallace has been hired to implement a series of reforms at the under-pressure trade body. It comes after the CBI fired its director general and [...]
Give bosses a pay boost to attract top talent to the UK, says City minister May 16, 2023 The City minister has thrown his weight behind efforts to boost the pay packets of the country’s top bosses today as a debate around pay in the City gathers steam. The compensation of executives at the UK’s top listed firms has been a topic of hot debate in recent weeks as regulators and officials look [...]
Explainer: Back to work, Britain. Is Hunt’s plan to get people out of retirement working? May 16, 2023 It was one of the key ambitions of Jeremy Hunt's spring budget, to get Britain back to work, and on the surface, it seems to be working.
‘It’s our duty to be vigilant’: CMA bosses defend blocking Microsoft-Activision deal May 16, 2023 Bosses of the UK’s competition watchdog said today that they will not turn a blind eye to anti-competitive mergers as they defended the agency's controversial move to block Microsoft’s £55bn takeover of Activision Blizzard after it was waved through by EU regulators yesterday.
On the Beach Group share price tumbles after big marketing spend May 16, 2023 Package holiday retailer On the Beach saw its shares drop 15 per cent to 107p today, after its narrowing losses and uptick in bookings were not enough to reassure investors. The Manchester-based travel company saw pre-tax losses shrink from £7m to £6m in the six months before March, as its group revenue rose £73.2m, up [...]
