UK optical chip company Optalysys bags £21m in funding for ‘groundbreaking’ encryption tech July 17, 2023 A UK chip designer has secured £21m in a Series A round of investment as it looks to enhance its “groundbreaking” data-sharing security that could pave the way for new levels of encryption able to defend users even from quantum computer-using hackers. Leeds-based Optalysys has secured the funding led by investment companies Lingotto and Northern [...]
Ultra-high food prices here to stay as Russia exits Black Sea grain deal with Ukraine July 17, 2023 Soaring food costs may not fall as quickly as markets had hoped, retail and pub industries have warned amid a Russian supply squeeze.
FTSE 100 firms slash charitable giving as profits rocket July 17, 2023 Britain’s biggest companies have slashed their charitable donations by nearly a quarter over the past decade despite pre-tax profits rocketing in the same period, research has showed.
New data: Cost-cutting and restructuring helps keep restaurant industry alive July 17, 2023 Bank of England interest rate rises could threaten the UK restaurant sector’s return to profitability, according to national accountancy group, UHY Hacker Young. The group say the percentage of UK restaurant companies turning a profit has more than doubled from 35 per cent to 78 per cent in the past year, but recent rate increases could [...]
UK inflation to fall to lowest level since March 2022 but Bank of England still tipped to hike interest rates July 17, 2023 UK inflation is on course to drop to its lowest level in over a year, but lingering underlying price pressures will heap expectation on the Bank of England to keep on hiking interest rates, new figures out this week are tipped to show. The rate of price growth in Britain is expected to have dropped [...]
FTSE finance chiefs: Rates, inflation and growth squeeze C-suite confidence July 17, 2023 Ratcheting up interest rate expectations and intense fears about sticky inflation has hobbled FTSE finance chiefs’ optimism, a closely watched survey out today shows. Confidence among chief financial officers (CFO) of FTSE-listed companies has tumbled over the last quarter, according to consultancy Deloitte. Optimism among money managers at Britain’s largest businesses has eroded to net [...]
US inflation slumps to lowest level in more than two years and is now well below UK July 12, 2023 Inflation in the US has slumped to its lowest level in more than two years and is now far below the UK’s rate, official figures out today reveal. American inflation fell to three per cent in June on an annual basis, down from four per cent in the previous month, according to the US Labour [...]
Bitcoin mining – a catalyst for economic growth? July 12, 2023 Susie Violet Ward dispels some myths around Bitcoin mining, and argues how it can help the UK unlock opportunities for economic growth.
UK families set for another year of cost of living crisis and £65bn hit to finances July 12, 2023 UK families are poised to be gripped by the cost of living crisis for nearly another whole year due to the Bank of England keeping interest rates higher for longer in a bid to vanquish inflation, a new report out today claims. Household finances will be corroded by rising living costs and elevated rates until [...]
Rising critical mineral supplies could help meet demand to fight climate change July 11, 2023 Supply of minerals critical to the energy transition could move close to levels needed to support climate pledges by 2030.