Global technology stocks have plunged over concerns about the computer chip industry. This decline follows reports suggesting the Biden administration may further restrict exports of semiconductor equipment to China. Former US President Donald Trump's remarks that Taiwan, the largest chip producer, should finance its own defense have also contributed to the market's anxiety. In the …
The UK government has affirmed its intention to establish the headquarters of a new energy company in Scotland, although the specific location has yet to be determined. The announcement came during the King's Speech, where the Labour administration outlined plans for GB Energy to oversee clean power projects nationwide. Prime Minister Sir Keir Starmer, speaking …
Canon has introduced its first new cameras of 2024 – the flagship Canon EOS R1 and Canon EOS R5 Mark II, which are high-performance models that seem worth the anticipation. The Canon EOS R1, aimed at professional sports photographers, is designed to compete with the Sony A9 III and Nikon Z9. It features a 24.2MP …
Over 3,000 workers at Amazon's Coventry warehouse were recently asked to vote on union representation by the GMB. However, the union fell just short with 49.5% of the 2,600 voters supporting union recognition, missing a majority. As a result, the GMB cannot officially represent the workforce. They have launched a legal claim against Amazon, alleging …
The high street cosmetics chain entered administration in February, leading to the closure of 75 stores and the loss of 489 jobs. A team managed by former Molton Brown CEO Charles Denton is now poised to complete a rescue takeover deal, as administrators have agreed to an 'exclusivity agreement' following a competitive bidding process. The …
The likelihood of an August interest rate cut has diminished due to higher hotel prices, attributed by some analysts to a "Taylor Swift effect," causing a stall in the UK's progress against inflation. For the second consecutive month in June, the government's preferred measure of the cost of living remained at its 2% target. While …
UK inflation remained steady in June despite a significant rise in hotel prices, according to the latest official figures. While prices in restaurants and hotels increased, sharp declines in clothing costs, driven by widespread retailer sales, helped offset these gains. Overall, inflation held at 2% for the year to June, unchanged from May. This indicates …
UK inflation remained at the Bank of England's target of 2% in June, marking the slowest rate of price increases in nearly three years. The annual rise in prices, unchanged from May, was partly influenced by higher hotel prices, according to official figures. However, persistent price increases in services, including restaurants and hairdressers, may prompt …
On Tuesday, billionaire Elon Musk announced on X that he intends to relocate SpaceX from Hawthorne, California, to Starbase, Texas, and move X's headquarters from San Francisco to Austin. This decision comes in response to a new California law, signed by Governor Gavin Newsom on Monday, which prohibits school districts from requiring staff to inform …
HSBC has appointed Georges Elhedery as its new chief executive, tasking him with navigating the bank through growing tensions between the West and China. Elhedery, who has served as chief financial officer since early 2023, will take over from Noel Quinn on September 2. Quinn's unexpected announcement in April of his decision to step down, …
Temperatures hotter than those forecast for Ibiza are set to sweep London this Friday, bringing sunshine back to the capital after a largely grey couple of weeks. The Met Office predicts temperatures will reach 30°C as London basks in the sun. This is hotter than Ibiza, which is expected to reach 28°C, and on par …
The potential new owner of Royal Mail has pledged to maintain the requirement to deliver letters throughout the UK six days a week. Czech billionaire Daniel Kretinsky, whose £3.6bn offer for Royal Mail has been accepted by its board, assured the BBC, "As long as I'm alive, I completely exclude this." Shareholders are expected to …
The Kantar Worldpanel, which monitors supermarket pricing, sales, and market share, reported that grocery inflation eased to 1.6% in the four weeks ending July 7, down from 2.1% the previous month. This marks the lowest level since September 2021 and continues a 17-month trend of declining monthly inflation rates since a peak after Russia's invasion …
Ofwat announced it has opened enforcement cases into four more firms as part of its investigation into utilities' management of wastewater treatment works. The investigations have been opened following a "detailed analysis" of companies' environmental performance and how often they spill wastewater from storm overflows. It was this analysis that "heightened Ofwat's concerns" that the …
