Financial Markets Wrap-Up November 11, 2022 Well, were at the end of another interesting week of trading. We started the week with some poor Chinese trade data, coupled with a back track on rumours from the previous week that covid restrictions would be loosened which kicked us off with a slightly negative start but the action for the week was never [...]
AstraZeneca boss urges UK government to invest in medicines of the future November 10, 2022 The chief of AstraZeneca has urged the UK government to invest in the medicines of the future, as the regulatory environment for pharma in the US grows tougher. With the UK’s upcoming budget, CEO Pascal Soriot called on the government to protect the funding for innovative treatments as the long-term outlook for the healthcare industry [...]
Facebook and WhatsApp owner Meta cuts 11,000 jobs November 9, 2022 Over 600 UK Meta employees could lose their jobs as the owner of Facebook launches its biggest job cull in history, cutting 11,000 jobs worldwide. In a note published this morning, chief exec Mark Zuckerberg said he would be reducing the global headcount by 13 per cent, regarding it as “some of the most difficult [...]
Crypto market rocked by FTX near-collapse November 9, 2022 The cryptocurrency market has plunged in value today as it reels from the near-collapse of one of the biggest exchanges, FTX, last night.
Siemens bids £3.5bn for troubled wind unit as it combats Chinese imports November 8, 2022 Siemens Energy has tabled a £3.5bn bid to snap up the remaining third of shares it does not own in its troubled wind energy unit.
FTSE 100 knocked by Beijing’s zero-Covid commitment November 7, 2022 London’s FTSE 100 today was weighed down by market sentiment softening after Chinese authorities committed to strict measures to contain Covid-19 breakouts over the weekend. The capital’s premier index dropped 0.48 per cent higher to 7,299.99 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Britishvolt: We did not enter the EV battery market ‘in a race to the bottom’ November 7, 2022 Beleaguered battery darling Britishvolt has said that comparing the price points for Chinese and British electric vehicle (EV) batteries is like “comparing apples with pears and not a fair reflection”. The firm responded to claims made by an unnamed potential customer, quoted in The Telegraph yesterday, that its lithium-ion batteries were up to a third [...]
Nervous markets scratch their heads over lockdown pain due to confusing China Covid policy November 7, 2022 Despite a big relief rally at the back end of last week, US markets still couldn’t reverse the losses of the previous three days, closing lower for the first time in three weeks, although for European markets it was a somewhat different story. The DAX finished higher for the fifth week in succession, posting its [...]
The West faces copper crisis as China dominates key markets November 7, 2022 The West has fallen behind rivals such as China in the race to secure copper supplies, warns a leading expert.
Cutting edge tech rarely sits still, so why is ESG slowing things down? November 2, 2022 Dr Chris Kacher turns his attention to energy consumption in world economics and what effect ESG is having on progress.