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 Morning Wire, 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.
Pfizer Covid-19 revenue halves but CEO remains bright on outlook November 1, 2022 While Pfizer’s Covid-19 revenue is declining, the pharmaceutical giant has raised its outlook for the whole year after pocketing a collective revenue of $22.6bn (£19.6bn) in the past few months. The Big Pharma firm had the revenue from its Covid-19 vaccine Comirnaty plunge by 65 per cent to $4.4bn (£3.8bn) in the third quarter. However, [...]
Local cabbie prices could spiral following Uber lawsuit over VAT November 1, 2022 Taxi firms could be forced to up their prices by a fifth as Uber calls for cabbies across the country to pay VAT on their journeys. A High Court hearing is expected to be handed down this week after the ride-hailing giant sued Sefton Council about VAT terms operating outside of London. Since the 1970s, [...]
UK should ‘future proof’ economy via cutting-edge green tech, says Kemi Badenoch November 1, 2022 International Trade Secretary Kemi Badenoch thinks the UK must “future-proof” its economy by investing in cutting-edge green technologies In a speech to the green trade and investment expo in Gateshead, Tyne and Wear, later today, Badenoch will say new technologies to combat climate change are creating high-paying skilled jobs while providing a route to future [...]
Miniclip CEO: ‘We’ve always followed where the players go, and the players are going to mobile’ November 1, 2022 Miniclip, the platform behind 8 Ball Pool, has shuttered its website as gamers once knew it, as the company follows consumers off desktops and into pockets. Speaking to Morning Wire, CEO Saad Choudri explained that the rise of mobile gaming left it a no-brainer for the company to step away from browser-based entertainment despite its [...]