Rolls-Royce to raise up to £2.5bn in dash for funding September 20, 2020 Rolls-Royce is seeking to raise up to £2.5bn on the London market in an effort to bolster its balance sheet in the wake of the pandemic. The engine manufacturer said the raise could consist of a mix of options, including a rights issue or debt and equity issuances. “We continue to review all funding options [...]
Bytedance seeks $60bn Tiktok price tag after Oracle deal gets green light September 20, 2020 Tiktok owner Bytedance is said to be seeking a valuation of $60bn for Tiktok’s US operations, after a partnership with Oracle and Walmart was approved by the Trump administration late last night. Through the creation of a new entity called Tiktok Global, software giant Oracle will take a 12.5 per cent stake and manage the [...]
Tiktok and Wechat US downloads to be banned from Sunday September 18, 2020 Downloads of popular video app Tiktok and Chinese messaging app Wechat will be banned in the US from Sunday, White House officials have said. However the ban on Tiktok could still be reversed if its owner Bytedance is able to get a deal to offload its ownership over the US service approved by US President [...]
Only a fortnight left until UK coronavirus crisis ‘out of control’, experts warn September 18, 2020 The UK only has two to three weeks to improve its Test and Trace scheme before the spread of coronavirus gets “out of control”, experts have warned today. The Independent Sage committee of scientists, chaired by former chief scientific adviser Sir David King, has issued a report to caution government of an upcoming crisis if [...]
Liam Fox through to next round in WTO director general contest September 18, 2020 Liam Fox, Britain’s pick for the next director general of the World Trade Organization (WTO), has made it through to the second round of the selection process. The former international trade secretary was nominated by Prime Minister Boris Johnson in July, after current director general Roberto Azevedo stepped down following a seven-year tenure. Three candidates, [...]
No new 2p or £2 coins to be made for a decade September 18, 2020 The Royal Mint has no plans to make any new 2p or £2 coins for the next decade, as cash usage in the UK continues to decline. Only 30 per cent of transactions made in the UK last year used cash, compared to 60 per cent in 2009. However cash is still relied upon by [...]
Facebook muzzles staff from debating politics internally September 18, 2020 Facebook has said it is updating its policies to impose limitations on employees’ ability to discuss social and political issues on internal messaging services. The new rules will prohibit staff from debating topics such as racial inequality and political beliefs on parts of Facebook’s internal messaging platform Workplace, and provide moderation of debates when they [...]
Rail nationalisations on the timetable for this weekend September 18, 2020 A number of rail networks could be heading for nationalisation by the government this week as emergency contracts set up during the coronavirus crisis come to an end. Sources told the BBC that talks between the government and nine private operators were ongoing, but that it could leave some franchises falling back into public hands [...]
New Zealand falls into worst recession on record September 17, 2020 New Zealand has fallen into the worst economic recession on record in the second quarter, as well as its first recession in more than a decade. GDP in the country contracted a seasonally adjusted 12.2 per cent between April and June compared to the previous quarter, marking its steepest quarterly contraction since records began. It [...]
MP accuses government of ‘interference’ in inquiry into Oneweb takeover September 17, 2020 The government has been accused of interfering in an independent inquiry of its acquisition of space tech unicorn Oneweb, after it attempted to prevent a witness from giving evidence. The business, energy and industrial strategy select committee was scheduled to interview three witnesses today regarding the takeover, however it received a letter from business secretary [...]