Temporary Brexit? Half of young British business owners expect UK will apply to rejoin EU October 20, 2021 A third of SME business owners are convinced that the UK will apply to rejoin the EU in the future, according to new research shared exclusively with City A.M. this afternoon. Younger business owners are significantly more likely to believe that the UK will re-apply in the future. Nearly half (47 per cent) of 18-34-year-olds [...]
Mysterious Ma: Billionaire Alibaba founder spotted in Spain October 20, 2021 The billionaire co-founder of Alibaba, Jack Ma, has been spotted in Spain in reportedly his first trip abroad since he butt heads with hawkish Chinese regulators. The reports of Ma being alive and well, and seemingly not banned from leaving China, triggered Alibaba’s Hong Kong-listed shares to jump 6.7 per cent on Wednesday – their [...]
Rio Tinto to halve carbon output by 2030 with $7.5bn worth of investments October 20, 2021 Anglo-Australian miner Rio Tinto is set to halve its carbon output by 2030, which it said will be supported by around $7.5bn in investments. The new emissions goal, which more than triples its previous target, should see the mining giant slash its scope one and two emissions, meaning it seek to limit the emissions produced [...]
Kiwi boy who called police to come and see his toys becomes global sensation October 20, 2021 A young boy who made an emergency in New Zealand has become a global sensation after police responded to the four-year-old’s call to “come over and see” his toys. Police in the South Island city of Invercargill shared the exchange on social media. While they do not encourage children to ring the emergency number, officers [...]
Procter & Gamble hikes prices further as freight costs continue to bite October 19, 2021 Procter & Gamble (P&G) will raise the prices of some of its grooming, oral and skin care products in the U.S. The consumer goods company will apply the increases to specific items such as razors alongside some sub-categories. The price hikes are to counter higher commodity and freight costs that are expected to take a [...]
J&J pulls in $2.5bn from Covid-19 jabs alone, but slips below Wall Street forecasts October 19, 2021 Johnson & Johnson quarterly revenue slipped below Wall Street forecasts in its latest trading update, though the business giant turned Covid-19 vaccine maker pulled in $2.5bn from its jab sales. The vaccine sales figure comes despite a string of production setbacks, including quality issues at one of its single-dose vaccine manufacturing facilities – which saw [...]
Brexit: Drop in UK-EU trade hits smaller businesses as they are forced to shun exports October 19, 2021 A fall in trade between the UK and EU shows UK small and medium sized enterprises are increasingly shunning EU exports. The latest data from the Office for National Statistics shows a second consecutive monthly fall in trade, with the effects of Brexit and the global pandemic resulting in the total exports of goods, excluding [...]
‘No Sino-phobes’: UK will not ‘pitchfork’ business from China despite Hong Kong and human rights October 19, 2021 Boris Johnson has told the Chinese business community the UK has no intention to “pitchfork away” investment from China despite ongoing differences with Beijing over human rights and Hong Kong. Ahead of the Global Investment Summit in London, later today, the Prime Minister said China would continue to play a “gigantic part” in UK economic [...]
Foreign investors pile into London’s green dream, making it the ‘cleantech’ capital of Europe October 19, 2021 London was the leading city in Europe for ‘cleantech’ projects last year, with investors piling into the cause as the UK chases its net zero target and maps its ‘levelling up’ agenda. The UK snagged one in six of all foreign direct investment that came in behind cleantech last year, according to Big Four firm [...]
Gupta’s GFG files High Court claim against AIP amid French smelter row October 18, 2021 Sanjeev Gupta’s GFG Alliance has filed a claim against American Industrial Partners (AIP) with the High Court amid a row over an aluminium smelter in France. A GFG spokesperson said: “GFG’s opinion is that AIP has unlawfully expropriated the valuable aluminium smelter, located in Dunkerque, France, belonging to GFG’s ALVANCE Aluminium business. “Despite GFG providing [...]