Wayve secures $200m to drive autonomous vehicle tech January 18, 2022 Autonomous vehicle tech firm Wayve has announced a $200m funding injection as it looks to ramp up development of its new AI technology. The King’s Cross-based firm has secured investment from long-term backer Eclipse Ventures, which led the round, with additional backing from firms including D1 Capital Partners and Baillie Gifford and additional support from [...]
SpaceX’s mega-rocket Starship could make or break space industry, say experts January 18, 2022 The rise of mega-rockets, such as SpaceX’s Starship, could make or break the ‘New Space’ industry, according to experts. Countries including South Korea, Japan, India and UAE are planning to launch their first missions the Moon, which will require the use of so-called mega-rockets. “Public enthusiasm for space will remain high with the launch of [...]
Corporate standards might be well noted down the road in Whitehall January 17, 2022 A mischief-making tweeter last week asked whether a CEO caught in breach of lockdown restrictions would be given the same second chance that Boris Johnson seemingly has been given by his party. The answer came yesterday – when Antonio Horta-Osorio stepped down as Chair of Credit Suisse after two ill-advised quarantine breakouts. Whatever the ins [...]
Inflation to near 30-year high as Brits prepare to tighten their belts January 17, 2022 The cost of living in Britain will swell to its highest level in nearly three decades, some of the City’s leading economists warned today. Soaring energy bills, compounded by a sharp rise in the price of second-hand cars and petrol costs, will drive inflation to 5.3 per cent, according to Sanjay Raja, Deutsche Bank’s senior [...]
Finance chief at City ad agency M&C Saatchi eyed by PE-backed rival January 17, 2022 The finance chief of one of the City’s top advertising firms, M&C Saatchi, is reportedly set to jump ship to a private equity-backed rival. Mickey Kalifa, who has been with M&C Saatchi for nearly three years, has been sounded out for a top job at Dept, a digital agency based in Amsterdam. The news was [...]
FTSE 100 breaks another post-lockdown record by breaching 7,600 mark January 17, 2022 London’s premier index smashed another post-lockdown record yesterday in a sign investors are looking through the Covid-19 crisis. The FTSE 100 closed 0.91 per cent higher yesterday, breaching the 7,600 mark for the first time since January 2020. Sentiment was boosted by international investors waking up to the fact that large swathes of companies listed [...]
Rail services affected by worst cancellation period January 17, 2022 Rail services have been affected by the worst cancellation period ever, according to industry data. As a result of Covid-related staff shortages and strike actions, 4.4 per cent of rail services across the UK were cancelled between 12 December and 8 January, PA news agency reported. According to data, since 2014 only two four-week periods [...]
The City View: January 17: Credit Suisse and the BBC January 17, 2022 In this episode, Andy Silvester discusses the latest scandal at Credit Suisse, proposed changes at the BBC and a week’s worth of inflation data.
Dom Cummings accuses Johnson of ‘lying’ to Commons over Downing Street party January 17, 2022 Boris Johnson “lied to parliament” when he said he thought a boozy May 2020 party at Downing Street was a work event, according to former top Number 10 aide Dominic Cummings. Cummings claimed on Twitter tonight that Johnson was warned the lockdown-busting party should not go ahead, but that he ignored the advice. Writing on [...]
Rolls-Royce defies pandemic with record sales and exotic Coachbuild cars January 17, 2022 The new Ghost drove growth for Rolls-Royce in 2021, as the British marque established a bespoke new 'Coachbuild' division.
