Vodafone and Three days away from announcing a UK merger June 7, 2023 Vodafone and the owner of Three network, CK Hutchison, will announce a long-anticipated merger that will see them become the UK’s biggest mobile operator, according to reports. Talks are now in the final stage and an announcement is expected “as soon as Friday or early next week”, according to reports from Reuters. The new company [...]
What is the future of financial services regulation? June 7, 2023 Lord Holmes of Richmond emphasises the importance of the Financial Services and Markets Bill currently going through the House of Lords.
Insurance industry bosses push back at perceptions of ‘profiteering’ June 7, 2023 Insurance industry representatives have pushed back at perceptions that firms are “profiteering” during the cost of living crisis. Bosses appeared before MPs sitting on the Treasury Committee to answer questions about rising premiums. Labour MP Dame Angela Eagle put it to the insurance industry representatives: “There’s a perception out there that insurers are profiteering with [...]
Energy industry backs Ofgem’s net zero role in bid to ramp up renewables June 7, 2023 The energy sector has broadly welcomed the government's move to expand Ofgem's remit and legally require the watchdog help drive the UK towards net zero carbon emissions over the next three decades.
Crypto AM SOLSTICE: Unlocking Summer and Fifth Birthday Party… 14 days to go! June 7, 2023 Crypto AM’s next conference and networking event – the ‘SOLSTICE: Unlocking Summer and Fifth Birthday Party’ – is only two weeks away.
Explainer: What if Ben Wallace becomes NATO chief? June 7, 2023 Rishi Sunak is in the United States to meet with President Joe Biden for the fourth time this year. His agenda is packed, and the main topic of discussion with Biden is expected to be artificial intelligence. Indeed, Sunak hopes to drum enthusiasm up for the UK as a global leader in AI regulation. Although [...]
Sales surge for Zara owner Inditex as shoppers update summer wardrobe June 7, 2023 Zara owner Inditex reported a 16 per cent uptick in sales in its spring and summer collection, as the fashion giant’s new trends continue to lure in shoppers despite the cost of living crisis. Inditex, which is the world’s biggest fashion retailer, racked in €1.2bn (£1.03bn) in net profit in the first quarter of the [...]
Bike theft now ‘decriminalised’ as Met fail to solve nine out of ten cases June 7, 2023 More than nine in ten bike thefts reported to the Met Police went unsolved in 2022, according to Home Office statistics. Some 93.7 per cent of reported thefts went unsolved in the capital last year, higher than the national average of 89 per cent. The Lib Dems, who crunched the numbers, said the figures suggested [...]
777 Partners’ new aviation asset arm raises $230m to finance Boeing 737 deliveries June 7, 2023 AIP Capital, the aviation asset management arm of Miami-based 777 partners, has raised $230m (£184.5m) from investors to finance the delivery of 7 Boeing 737 Max aircrafts, amid ongoing financial difficulties and backlogs in the sector. The newly-launched private equity group, which operates in Dublin, London and the US, said that Citibank arranged the acquisition [...]
Asos suppliers cut ties amid struggling share price and profits June 7, 2023 Asos suppliers have reportedly begun to cut ties with the struggling fashion website following a move by credit insurers to pull cover amid falling profits, in a fresh knock of confidence for the brand. Leading creditors at Allianz Trade, formerly Euler Hermes, withdrew cover for suppliers last month, according to The Times, due to a [...]
