Elementor #545671 August 28, 20231 Min Read Financial Times – China’s sluggish economy will weigh on global trade, western groups warn Summary of the Top 6 headlines today The Financial Times leads on Western companies’ warnings that the slowdown in China’s economy will weigh heavily on global trade. The paper says the country has for years been a booming market for all kinds of goods and services, but that it is failing to rebound from…
Author: WTX Business Team
Bag a bargain on filling up your fridge.
The changes will cut the average household’s energy bills by around £150
City AM – You could open a Coutts account with that CITY AM says Former NatWest boss Dame Alison Rose’s pay package – reportedly £2.4m – has been branded a “sick joke” by Nigel Farage. Dame Alison quit her high-profile role as boss of NatWest, which also owns private bank Coutts over her handling of Farage’s account closure – which sparked a ‘debanking’ scandal. NatWest Group issued an RNS this morning stating that Dame Alison…
Elementor #544657 August 24, 20231 Min Read Financial Times – Wagner boss Prigozhin was aboard crashed plane Summary of the Top 6 headlines today Developments in Russia also dominate the front page of the Financial Times – it reports that the aircraft Prigozhin was on appears to have been shot down, and US officials had believed he was likely to face retribution after June’s failed revolt. The front page reports Russian officials saying Prigozhin was…
Wilko: Jobs to go as attempts to find a buyer fail Jobs at Wilko are set to go and stores will close after the company failed to find a buyer for the whole business. The PwC has said parts of the group could still be bought. Wilko announced earlier this month that it was going into administration, putting 12,500 jobs and its 400 stores at risk. PwC had tried to look for a buyer for…
The company’s specialised chips are key components that help power different forms of artificial intelligence (AI).
Elementor #543571 August 18, 20231 Min Read Financial Times – Labour waters down pledges to strengthen workers’ rights Summary of the Top 6 headlines today The Financial Times leads with Labour’s “watered down” plans to strengthen workers’ rights in a bid to impress corporate leaders and discredit Conservative claims the party is “anti-business” ahead of the next general election. It says a pledge to boost the protection of gig economy workers was “diluted”, according to…
Wet weather dampens retail sales in Great Britain The Guardian says Wet weather has been blamed for a worse-than-expected fall in retail sales last month, with households in Great Britain shunning the high street and pulling back on clothes purchases. Official figures showed that the quantity of goods bought fell 1.2% month on month in July, worse than average analyst forecasts of a 0.5% drop in sales volumes. It follows a 0.6% rise in June.…
The change is likely to affect the amount of points shopper gain
Elementor #543257 August 17, 20231 Min Read Financial Times – Underlying inflation pressures keep heat on Bank of England rate-setters Summary of the Top 6 headlines today The FT reports underlying pressures remain on the Bank of England despite a drop in headline inflation. Borrowing costs are still set to rise which will prove a further pinch on people’s earnings, the paper writes. The news will put pressure on the Bank of England as it…
City AM – Pay growth will force rates higher Wage growth has ‘passed its peak’ as Andrew Bailey prepares to address City on interest rates CITY AM says Workers returning to the jobs markets and boosting the volume of candidates available to businesses are poised to put a lid on wage growth, analysts are predicting official numbers this week will show. Pay growth is said to have “passed its peak” after raging for more than…
It will mark the the device’s 10th anniversary.
One product is up 129%.
Financial Times – Saudi Arabia and UAE buy Nvidia chips Summary of the front page The news that Saudi Arabia and the United Arab Emirates are buying up thousands of Nvidia chips as the join the global AI arms race is the splash in the Financial Times, with the paper reporting that there are fears the autocratic regimes in the countries could misuse artificial intelligence. The paper writes that the countries are “choking” the supply…
Price of milk and sunflower oil starting to fall Food prices are finally “edging down” even though shopping bills remain high, new data suggests. Research firm Kantar said shoppers paid on average £1.50 for four pints of milk in July, down from £1.69 in March. Other food staples also dropped, including the average cost of a litre of sunflower oil, which is 22p less than in the spring. It comes as grocery inflation – the…
Japan economy gets major boost from weak currency Japan’s economy – the world’s third-largest – grew much faster than expected in the three months to the end of June. Experts say the country’s weak currency has boosted exports, with its GDP rising by an annualised 6% in the period. The rate of growth is about 2x more than what economists had forecast and marks the biggest rise in almost three years. The fall in the…
‘I’ve felt incredibly stupid and ashamed. I live in fear. They have my address. They have all my contact details.’
Pub takeaway drinks rules to be continued for 18 months Covid licensing rules that allowed pubs in England and Wales to sell takeaway drinks have been extended until March 2025. The government decided to keep the licensing rules that allow customers to be severed alcohol through hatches when pubs were forced to close under pandemic rules in 2020. The rules allow pubs without an off-premises licence to see takeaway alcohol without needing to apply to…
Financial Times – Chinese tech giants in race for $5bn of Nvidia chips to drive AI ambitions Summary of the front page The Financial Times says China’s internet giants are rushing to acquire high-performance chips vital for building generative artificial intelligence systems, making orders worth $5bn in a buying frenzy fuelled by fears of new US export controls. The paper says the tech firms are rushing to acquire Nvidia chips following a series of measures…
Halifax joins rivals in cutting mortgage rates Halifax is poised to make significant reductions to interest rates on select fixed mortgage options, potentially alleviating financial strain for some homeowners. The largest mortgage provider in the UK will implement rate cuts of up to 0.71 percentage points starting Friday. Notably, a five-year fixed mortgage package will now be priced at 5.39%, down from its previous rate of 6.10%. Similar moves have been made by other lenders…
The Economist – The Overstretched CEO How to run a business in a dangerous and disorderly world THE ECONOMIST says chief executives have long had to be contortionists, balancing the needs of employees, suppliers and above all shareholders while staying within the limits set by governments. But the twisting and stretching is now more fiendish than ever. The world is becoming dangerous and disorderly as governments try to manipulate corporate behaviour. Global companies and their…
CITY AM – Inflation panic: It’ll be over by Christmas CITY AM says Inflation may remain above the Bank of England’s two per cent target for the next few years as price increases have increasingly spilled over into the wider economy, a think tank warned today. According to forecasts from the National Institute of Economic and Social Research (NIESR), inflation is forecast to fall to 5.2 per cent by the end of this year, before…
Financial Times – Universal and Google in talks over licensing AI-made music Summary of the front page Google and Universal Music’s talks over licencing AI-generated melodies and voices is the lead story in the Financial Times. The talks are in response to the rise of “deep fake” songs which have managed to convincingly replicate real artists. There’s no imminent “product launch”, says the paper, but the discussions could pave the way for software to be…
Public could receive hundreds of millions as water firms face sewage lawsuit The Guardian says The public could receive hundreds of millions of pounds in compensation in the first class action against water companies which are alleged to have failed to reveal the true scale of raw sewage discharges, and abused their position as privatised monopolies. A collective case against six water companies alleges they have failed to properly report sewage spills and pollution of…