Defence sector boosts Rolls-Royce as Asia recovery lags under Covid-19 November 3, 2022 Aerospace giant Rolls-Royce’s recovery continues to lag in Asia due to ongoing Covid-19 measures, as the firm makes headway again in the US and Europe. The London-listed company, which builds jet engines, has been particularly vulnerable to supply chain disruptions and inflation, as it continues to restore back to full health following the pandemic. Rolls-Royce, [...]
UK failing to capitalise on disease research as it lags behind Europe, says ABPI November 3, 2022 The UK is failing to capitalise on its world leading disease research, according to the country’s pharmaceutical body. The country could be unlocking significant economic benefits in better competing with its European rivals on genomics, the study of genomes which is crucial to understanding how diseases develop. In report published today by the Association of [...]
Tiktok’s new privacy update confirms staff across the world access your data November 2, 2022 TIKTOK told European users that their data can be accessed by employees in China, adding to the privacy concerns. The video sharing platform is updating its privacy policy to confirm that staff across the world can access user data. This means European user data could be accessed from China, Brazil, Canada, Israel, the US and [...]
Cost of loving: Tinder boosted by paid matches despite spending squeeze November 2, 2022 MONEY can’t buy you happiness, but it may be able to buy you love, with Tinder owner cashing in on people looking for love despite cost of living woes. Match Group, which also owns Hinge and OKCupid, revealed that the number of paid subscriptions to the dating app rose seven per cent globally in July-September. [...]
On standby: Britishvolt secures last minute funding to stay afloat November 2, 2022 Beleaguered battery firm Britishvolt has secured last minute funding to keep it afloat another few weeks. The company, which has been developing a massive £3.8bn gigafactory in north-east England, has been locked in emergency fundraising talks for several weeks – pushing to raise £200m, or sell the company outright. The lagging firm is a sign [...]
Aston Martin warns of higher costs as supply chain disruptions weigh on margins November 2, 2022 Aston Martin Lagonda Global has warned that higher costs from disrupted supply chains will weigh on margins, lowering its wholesale delivery volume forecast for the year. The London-listed company said that due to supply chain challenges and logistics disruptions wholesale volumes decreased by four per cent year-on-year to 4,060. Despite lower wholesale volumes, revenue jumped [...]
GSK lifts sales forecasts following ‘record’ success from shingles vaccine November 2, 2022 British pharmaceutical giant GlaxoSmithKline (GSK) has raised its sales forecast for the full year, on the back of the success of its shingles vaccine. Bosses at the London-listed firm now expect to deliver sales growth of between eight and ten per cent in the full-year and an adjusted operating profit of around 15 to 17 [...]
Private sector must ‘be bolder’ on tech to give UK inc. an edge, says IBM chief November 2, 2022 The UK private sector must take more bets on technology if it is to compete with its European neighbours. Speaking to City PM, the UK & Ireland chief executive of American tech giant IBM, Sreeram Visvanathan, urged businesses to “be bolder” and “find niches” to give UK inc. an edge above other markets. “We can’t [...]
Ministers push back plans for controversial ‘call in’ powers November 1, 2022 Ministers have delayed plans for the roll-out of controversial ‘call in’ powers over regulators in order to give the prime minister more time to mull over the plans, a letter from the City minister has revealed.
UK startups bag £4.2bn as VCs shrug off recessionary fears November 1, 2022 Venture capital investors in the UK and Ireland shrugged off recessionary fears in the third quarter of the year as they pumped £4.2bn into start-up firms, new research has revealed.
