Stripe: It’s a mistake for tech firms to get too hung up on valuations June 25, 2023 Tech firms shouldn’t worry so much about valuations, the co-founder of Stripe has said, after the payments firm’s valuation was cut earlier this year. Stripe cut its valuation to $50bn (£39bn) in March this year, which is well below its peak of $95bn back in 2021. The valuation was slashed as it announced a new [...]
Profiteering? Supermarkets to face Parliamentary grilling this week June 25, 2023 Supermarket bosses will be probed this week on whether or not they are profiteering from high prices. Lead figures from UK ‘Big four’ grocers, including Morrison’s boss David Potts, will face questions from MPs on Tuesday on red hot food and fuel prices, and when customers might see price falls. Sainsbury’s’ food commercial director, Tesco’s [...]
Britishvolt owner raided by Australian police over tax fraud suspicions June 25, 2023 The offices of Britishvolt’s new owner were raided late last week by Australian police over suspicions of tax fraud, according to reports. The British battery firm was bought by Recharge Industries earlier this year after it collapsed into administration. Recharge is a subsidiary of Scale Facilitation, which is owned by Australian entrepreneur David Collard. According [...]
Labour: Force banks to pass on interest rate hikes to savings accounts June 25, 2023 Labour has called on the government to ensure that banks are passing on higher interest rates to savers in an attempt to cool inflation. Speaking on the Sophy Ridge show on Sky News, Lisa Nandy said: “What we are proposing is that the Government ensures that those (interest rate) rises are passed on so that [...]
PwC Australia: Firm appoints new CEO as tax leak scandal roars on June 25, 2023 PwC’s Australian business is set to offload a government services division that has dragged the firm into weeks of lurid front-page headlines. The down under branch of the consulting firm is selling its public sector advisory business to a private equity firm Allegro for $1, and bringing in a new CEO of the overall business [...]
Labour’s first female general secretary Margaret McDonagh dies aged 61 June 24, 2023 Margaret McDonagh, Labour’s first female general secretary, has died at the age of 61. The politician, who sat in the House of Lords as Baroness McDonagh, was described as an “unstoppable force of nature” and a “tireless champion for women” as tributes were paid on Saturday. Labour leader Sir Keir Starmer hailed her “absolutely essential” [...]
Chechen leader says his forces are ready to help put down Wagner mutiny June 24, 2023 Chechen leader Ramzan Kadyrov said on Saturday his forces were ready to help put down a mutiny by Wagner mercenary chief Yevgeny Prigozhin and to use harsh methods if necessary. Kadyrov in a statement posted on Telegram called Prigozhin’s behaviour “a knife in the back” and called on Russian soldiers not to give in to [...]
Rishi Sunak ‘in touch with allies’ about Wagner group rebellion in Russia June 24, 2023 Prime Minister Rishi Sunak said he is in touch with allies about the armed rebellion led by the Wagner mercenary group in Russia, which UK defence officials have described as “the most significant challenge” to the Kremlin in recent times. Russian President Vladimir Putin called the actions of the private military company a “betrayal”, after [...]
Rishi Sunak pays tribute to troops on Armed Forces Day June 24, 2023 Rishi Sunak has paid tribute to the “phenomenal precision and professionalism” of British troops as events are held across the UK to mark Armed Forces Day. Parades and flypasts will take place around the country to thank the military community, with Falmouth playing host to this year’s national event with a 1,000-strong tri-service parade of [...]
Wagner group rebellion call marks ‘most significant challenge’ to Russia – MoD June 24, 2023 An armed rebellion led by the Wagner mercenary group marks “the most significant challenge to the Russian state” in recent times, according to UK defence officials. Russian President Vladimir Putin called the actions of the private military company a “betrayal”, after its chief Yevgeny Prigozhin vowed to topple Moscow’s military leadership. In its latest intelligence [...]
