‘Very unusual’ fire caused rocket explosion, delaying first space launch bid August 24, 2024 Engineers have identified a “very unusual” oxygen fire in a turbopump as the reason a rocket engine exploded during a test at the spaceport in Shetland earlier this week.
Bluesky: Social media site eyes politicians after ‘quite the influx’ of UK accounts August 24, 2024 Chiefs at social media site Bluesky have suggested they are eyeing politicians for their platform after X owner Elon Musk’s commentary on UK current affairs.
FTSE 100 reshuffle: Burberry and Easyjet set to be downgraded August 23, 2024 FTSE 100 constituents Burberry and Easyjet are expected to be eliminated from London’s main market next month during a reshuffle. The main market’s quarterly rebalance is due on 20 September, with the review being based on prices at close on 3 September. Easyjet managed to claw back into the FTSE 100 in March, but the [...]
‘Time has come’ to cut rates, Fed chair Jerome Powell says August 23, 2024 "The time has come for policy to adjust," Powell added, pointing to growing downside risks.
Storm Lilian: British Airways cancels flights as Leeds Festival shuts two stages August 23, 2024 The impending chaos from Storm Lilian is already causing massive disruption across the UK as millions of Brits look to get away for the Bank Holiday Weekend. Weather warnings have been issued on Friday as the tail-end of the hurricane has brought strong winds exceeding 70mph to northern parts of England and Wales on Friday, [...]
Google facing £1bn competition lawsuit from professor on behalf of SMEs August 23, 2024 A professor has launched a class action lawsuit against Google on behalf of SMEs he said have been negatively hit by excessive commissions on its Play Store. Competition law professor at the University of Strathclyde, Barry Rodger, has alleged that Google has abused its dominant position by excluding competition in app distribution and by charging [...]
The Ambition A.M. Accelerator: How are fintechs changing the entrepreneurship space? August 23, 2024 The Ambition A.M. Accelerator programme is a chance for founders and budding entrepreneurs alike to discuss important themes and topics each month while also having a chance to meet and learn from prominent figures in the community.
UK economy: ‘No one has any clue what’s going to happen,’ says boss of Britain’s fastest-growing business August 23, 2024 The chief executive of Britain's fastest-growing company has warned that poor access to finance for small firms risks hamstringing the UK's economic growth, as business owners already struggle with "really high uncertainity in the world".
Bank of England warned to be wary of public sector pay deals August 23, 2024 "The big risk is that by setting a benchmark for private sector firms, these pay deals prevent wage growth and services inflation from falling much further," Ashley Webb, UK economist at Capital Economics said.
Thames Water: Ofwat hunt for independent ‘monitor’ already under way August 23, 2024 Ofwat’s search for an independent ‘monitor’ who will report on Thames Water’s progress and have access to company information is already under way, City A.M understands. The new appointment is part of a string of new measures that Thames has signed up to in order to avoid a hefty fine for breaching its licence conditions, [...]