BT hikes cost savings target as profits dip amid inflation and strike action November 3, 2022 BT confirmed it would be upping its cost savings target from by £500m this morning, as the UK’s biggest telecoms firm fends off inflationary pressure. In its half year results, the FTSE 100 company said profit before tax hit £800m, down 18 per cent on the previous year. Although revenue climbed a humble one per [...]
Glencore execs used private jets to fly cash bribes to Africa, court hears November 2, 2022 Glencore executives used private jets to fly millions of dollars in bribes to officials in Africa to boost their oil trading activities, a London Court heard today. Traders on Glencore’s London-based West Africa trading desk organised to have bribes, which were withdrawn from the commodity trader’s offices in Switzerland, flown to officials in Cameroon and [...]
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.
The City is a green machine but ESG claims must be scrutinised properly November 2, 2022 Greenwashing, virtue-signalling and corporate guff are setting back the City’s environmental agenda Is it pro-bird? Is it anti-plane? Or is it just a bubble? That’s the question that many in the City have been asking themselves over the past few months about those three little words: environmental, social, and governance. The rise of ESG was [...]
Global companies with net zero goals on course to miss climate ambitions November 2, 2022 Nearly all global companies with net zero ambitions will fall short of their environmental goals, warned Accenture.
Calls for Swiss-UK trade deal grow as financial firms ramp up pressure November 2, 2022 A group of top financial firms has ramped up pressure on the government to strike a “ground-breaking” trade deal with Switzerland today in a bid to ease the flow of cash between the two financial centres. The value of trade between the UK and Switzerland hit £38.4bn last year but companies including Credit Suisse, Deloitte, [...]
BP’s profit bonanza reignites calls for tougher windfall tax November 1, 2022 BP has unveiled another bumper round of monster profits powered by soaring gas prices, reigniting calls for a windfall tax.
UK in Recession: an Overview of What Could Happen & How You Can Take Advantage November 1, 2022 Recently, the Bank of England has issued a warning about a slowdown in economic growth towards the end of 2022, with similar worries persisting into 2023. Overall, the upcoming emergence of a recession has been fuelled by a mix of several detrimental dynamics for the UK. Uncovering the Dynamics that Lead to Recession The United [...]
The impact of higher interest rates on markets. What is ahead for the crypto market? November 1, 2022 Higher interest rates generally mean a lower appetite for high-risk/high-return assets such as cryptocurrencies, hence we’ve seen the crypto market decline in recent months. With the stock market also reacting badly to recent rate hike and the crypto market becoming increasingly correlated to stocks, crypto could be in for a continued bearish year because of [...]
Playtech finance chief steps down due to ‘personal reasons’ November 1, 2022 The chief of finance at Playtech will step down at the end of this month due to “personal reasons”. The gambling software firm said in an announcement that Andrew Smith, Chief Financial Officer and Executive Director, would leave his positions on 28 November. Brian Mattingley, Chairman of Playtech, said in a statement: “Andy has played [...]