BT hikes cost savings target as profits dip amid inflation and strike action November 3, 2022 BT confirmed it would be upping its cost savings target from by £500m this morning, as the UK’s biggest telecoms firm fends off inflationary pressure. In its half year results, the FTSE 100 company said profit before tax hit £800m, down 18 per cent on the previous year. Although revenue climbed a humble one per [...]
New Philips CEO slashes 4,000 jobs in bid for financial turnaround October 24, 2022 Philips is set to cut around 4,000 jobs – the equivalent of five per cent of staff – in Roy Jakobs’ first major move as CEO. The Dutch conglomerate has had its sales fall for more than a year and has ultimately become loss-making. The job losses will be based in the US and the [...]
BT strikes likely to continue until next April says insider October 24, 2022 BT and Openreach strikes over pay are likely to continue well into next year, says union insider. This could mean that the Communication Workers Union (CWU), which represents around 40,000 BT workers, could cause disruption across 999 call centres and Openreach engineer services until next April — spelling danger for a winter of potential blackouts and [...]
Boris Johnson quits leadership battle leaving path clear for favourite Sunak October 23, 2022 BORIS JOHNSON has sensationally ruled himself out of the running to become Conservative party leader, making Rishi Sunak the odds-on favourite to become the country’s next Prime Minister. Johnson claimed he had secured the backing of more than 100 MPs – the threshold needed to get on the ballot to become Liz Truss’ replacement – [...]
Day Two: Summit October 20, 2022 Day 2: Auditorium Thursday 24th November 2022 Time Title Speakers 9:30 – 9:50 Global events, the economy and Bitcoin: What’s next? Jason Deane – Bitcoin Marco Analyst, Author, Consultant 9:50 – 10:20 Regulatory and Market Challenges for CBDCs and Stablecoins Moderator: Eric van der Kleij Nicole Sandler – Head of Digital Policy, Barclays Dotun Rominiyi – [...]
From Poll Tax to tampons and 10p rates: Historic U-turns that left governments red faced October 4, 2022 Kwasi Kwarteng was forced into a U-turn on plans to scrap the 45p tax rate yesterday, just ten days after announcing the proposal in his ‘mini-budget’. While undoubtedly embarrassing for the new Chancellor, he is by no means alone in having to rapidly rethink big Budget announcements. City A.M. caught up with AJ Bell head [...]
Queen’s historic state funeral: The world says goodbye to Elizabeth II September 19, 2022 The Queen was consulted on today’s order of service over many years. It was prepared by the dean of Westminster in conjunction with Lambeth Palace. The Queen’s funeral has drawn to a close with a lament played by The Sovereign’s piper and her coffin has been carried from Westminster Abbey to be placed on the State Gun Carriage. [...]
Where it all began seven decades ago: How Elizabeth became Queen in a treetop in rural Kenya September 12, 2022 Let’s go back to the 1950s. 1952 to be precise, it’s February 6. A day that would change the life of a young, newly married English princess forever. Being on an official Royal tour with her husband in East Africa, 25-year old Princess Elizabeth was watching baboons while taking photographs of the Kenyan sunrise from [...]
What can Sunak-friendly fintech expect under Truss? September 12, 2022 Some fintech bosses are reconsidering what a Truss leadership may mean for the sector.
Her Majesty Queen Elizabeth II has died, aged 96 September 8, 2022 Her Majesty, Queen Elizabeth II, has died aged 96 at her Scottish country residence, Balmoral. She served as the Queen of the United Kingdom and of the Commonwealth for 70 years, having come to the throne at the age of just 25. She was born in 1926. Buckingham Palace confirmed the monarch’s passing in a [...]