Former Co-op Bank boss appears in court accused of £196,000 fraud October 4, 2023 Former Co-op Bank boss Paul Flowers has appeared in court accused of a £196,000 fraud by abusing his position.
Rishi Sunak to defy backlash by axing HS2 route to Manchester October 4, 2023 Rishi Sunak is expected to defy a backlash from Tory colleagues and northern leaders by abandoning the high-speed rail route to Manchester as he seeks to portray himself as a radical reformer. The Prime Minister is expected to use his Conservative conference speech in the northern city to axe the HS2 leg from Birmingham as [...]
Feargal Sharkey: Customers shouldn’t pay for water firms’ failures October 3, 2023 It is quite extraordinary that less than a week after being chastised by the regulator for their failures, the water industry has decided to commit an act of industrial self-harm by announcing to millions of customers they’re going to raise their water bills. People are already furiously angry, and what this illustrates to me is [...]
China: Evergrande shares soar after property developer’s stocks resume trading October 3, 2023 Shares of debt-laden property developer China Evergrande Group soared on Tuesday after they resumed trading in Hong Kong following a suspension last week. By midday, Evergrande’s shares were up nearly 16% after jumping more than 60% early in the session. Evergrande is the world’s most heavily indebted property developer and is at the centre of [...]
Sunak failed to hand over pandemic WhatsApp messages to Covid inquiry – reports October 3, 2023 Rishi Sunak has told the Covid-19 inquiry that he is unable to provide WhatsApp messages from his time as Chancellor during the pandemic because he failed to back them up, it has been reported. The Prime Minister wrote in his witness statement that he does “not have access” to the messages because he changed his [...]
Microsoft chief says unfair practices by Google led to search engine dominance October 3, 2023 Microsoft chief executive Satya Nadella has said unfair tactics used by Google led to its dominance as a search engine and in turn thwarted his own company’s rival programme, Bing. He gave evidence in a packed Washington DC courtroom as part of the government’s landmark antitrust trial against Google’s parent company Alphabet. The Justice Department [...]
Aussies hit pause again as global rate hike race appears over October 3, 2023 The Australian Central Bank appears to have brought to an end its aggressive rate hike cycle
The Notebook: Andy Silvester on why John Lewis’s next boss would do well to take a shift on the tills October 3, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s our editor Andy Silvester with the pen Whoever replaces White would do well to take a shift on the tills Driving alongside Lake Bala, on the edges of Snowdonia, this intrepid Londoner got a shock at the weekend: an entrance [...]
Tesla misses delivery targets as factory shutdowns hit production October 2, 2023 Tesla missed market estimates for third-quarter deliveries on Monday as planned upgrades at its factories forced production halts, sending its shares down 2.4 per cent in early trading. The electric vehicle maker handed over 435,059 vehicles in the three months to 30 September, down nearly seven per cent from the preceding quarter, but said its target [...]
Stocks and sandals: Birkenstock targets over $9bn valuation in US IPO October 2, 2023 Birkenstock said today that it is seeking a valuation of up to $9.2bn in its highly anticipated US initial public offering.