Ericsson acquires Vonage for £5.2bn July 22, 2022 Telecommunications company Ericsson has completed its $6.2bn (£5.2bn) acquisition of American cloud communications company Vonage. Vonage is now a wholly-owned subsidiary of Ericsson and will become a separate business area within Ericsson. Vonage common stock has stopped trading and will not be listed on the Nasdaq Global Select Market now. Vonage will still operate under its [...]
FRP announces higher revenue and growth despite economic uncertainties July 22, 2022 FRP Advisory Group announced higher revenues and a growth in team size and market share despite a weakening economic outlook. For the year ended 30 April 2022, revenue rose 21 per cent to £95.2m from £79m in 2021, with a 15 per cent increase in FRP’s team size by 66 to 504 (excluding consultants). FRP Corporate [...]
Truss or Sunak will need to deliver ‘shot in the arm’ of UK economy July 22, 2022 Rishi Sunak or Liz Truss will need to deliver a “shot in the economic arm” of the country to lift Brits’ confidence out of the doldrums after one of them wins the Conservative leadership race, two closely watched surveys published today reveal. Scorching inflation, the highest interest rates in 13 years and tax hikes have [...]
Tory leadership race: New poll gives Truss big lead over Sunak July 21, 2022 Rishi Sunak and Liz Truss duelled over their tax plans today as a new poll gave the foreign secretary a commanding lead in the Tory leadership race. A YouGov poll of Tory members put Truss on 62 per cent and Sunak on 38 per cent on the first day of a six-week campaign to become [...]
Microsoft slashes open job listings as hiring slows down July 21, 2022 Microsoft is cutting several open job listings as it slows hiring amidst a gloomy economic outlook. The tech giant is expanding the hiring slowdown first announced in May and will continue this for the foreseeable future, Bloomberg reported, as a weakening economy dents confidence. Hiring will slowdown in the company’s Azure business and security software [...]
Truss pledges immediate tax relief review for stay-at-home parents July 21, 2022 Liz Truss has pledged to conduct an immediate review into providing tax relief for stay-at-home parents and carers if she is made Prime Minister. The foreign secretary said she would look at treating households as “single tax entities” so that “people aren’t penalised for taking time out of work to care for family or their [...]
Government and major businesses work together to help households with cost of living July 21, 2022 The government will collaborate with leading businesses to help UK households facing the cost of living crisis, it said today. The Cost of Living Business Tsar and ex-chief of Just Eat David Buttress agreed retail deals and discounts with major businesses in the UK like Asda, Sainsbury’s, Amazon, and Vodafone as part of the Help [...]
Elon Musk’s Tesla sheds 75 per cent of its Bitcoin holdings as profits drop July 21, 2022 Tesla has sold 75 per cent of its Bitcoin portfolio as profits slid in the second quarter of the year. The electric automaker announced in its Q2 earnings report that it converted the Bitcoin to $936m (£782m) of cash, with its digital asset holdings now at $218m (£182.4m). Profits fell to $2.3bn (£1.9bn) from a [...]
Tory leadership race: Truss claims her tax cuts would decrease inflation July 21, 2022 Liz Truss has today claimed her plan to introduce tax cuts worth £30bn+ would “decrease inflation” as she begins her campaign to win over Tory party members and become Prime Minister. The foreign secretary denied claims by economists, and her leadership rival Rishi Sunak, that her tax plans would further fuel the UK’s 40-year high [...]
Liz Truss warns Rishi Sunak’s tax plans lead UK into recession as she is out to challenge ‘economic orthodoxy’ July 21, 2022 Tory leadership contender Liz Truss insisted this a.m. that her economic plan to cut taxes immediately is not a gamble and will not further fuel inflation. Truss warned that the current tax plans – which include an increase in corporation tax from 19 per cent to 25per cent in April – will lead the UK [...]