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Fire Breaks Out at BAEs Nuclear Submarine Facility in Barrow
A significant fire erupted at BAE Systems' shipyard in Barrow-in-Furness during the early hours of Wednesday morning, resulting in two individuals being hospitalised. The incident occurred at the defence company's crucial nuclear submarine…
Boeing wants to raise another $19bn from investors
Boeing, the struggling American aircraft manufacturer, has asked investors to inject about $19 billion in order to boost its balance sheet, and to protect its investment grade credit rating from falling to junk status.
After reporting a…
Washington is alarmed by China’s $3.6bn megaport for Peru
Chancay, a coastal town in Peru, was once only known for its pre-Hispanic Inca cultures.
Its size made it a popular tourist destination for residents of Lima, the capital city, located 50 miles south. They liked to visit the 19th century…
EssilorLuxottica backs Del Vecchio as hacking probe escalates
EssilorLuxottica expressed "full support' to Chief Strategy Officer Leonardo Maria Del Vecchio - the late founding father's son - after Milanese authorities placed him under investigation in a vast probe into alleged illegal trafficking of…
Unilever’s sales are boosted by “power brands”
Unilever's third-quarter sales increased more than expected, as its ice-cream business grew ahead of the spin-off next year.
FTSE 100, which includes brands such as Marmite and Dove soap, reported a underlying growth in sales of 4.5…
BP in a ‘trilemma of energy’ over the green transition
Many City analysts saw Murray Auchincloss, the Canadian executive who was confirmed as BP's permanent boss by the company in January, as the continuity candidate that would help stabilize the ship following the abrupt departure Bernard…
Mike Ashley asks Boohoo for him to be the CEO
Mike Ashley, the retail tycoon, has made a bold bid to become CEO of Boohoo. He is pushing for a merger between Asos and the struggling fast fashion retailer.
Ashley's Frasers Group's proposal would reshape online fashion retail,…
US approves lithium-ion project to help break China’s grip over EV minerals
As part of its strategy for breaking Chinese dominance of the supply chains of essential minerals, the US approved construction of an enormous new lithium mine in Nevada. It also extended tax breaks to certain miners.
Ioneer, an…
Frasers Group criticises Mulberry’s management after abandoning its takeover plans
Mike Ashley's Frasers Group criticised Mulberry's management after it withdrew from its attempt to acquire the luxury handbag manufacturer following a number of rejected bids.
Frasers, Mulberry's 2nd largest shareholder, with 37% of the…
Apple now allows children to report nudity via iMessage
Apple has introduced a new feature in Australia which will allow children who receive nude images or videos to report them directly to their company. The company can then report these messages to the police.
This change is part of…
Watches of Switzerland is urged by an activist to relocate their listing from New York to New York
Gatemore Capital Management, an activist investor, has called on Watches of Switzerland (formerly Watches of Switzerland) to move to New York and join the exodus of London listed companies.
Gatemore, the company that holds 1.9 million…
Deloitte UK cuts 250 employees
Deloitte UK has laid off 250 employees, the third time in 13 months that the Big Four have made redundancies. This move is believed to be aimed at employees in the advisory division of Deloitte who are underperforming.
Sources said that…
Boeing blames its $6bn loss on’serious performance failures’
Boeing announced a $6bn loss for the quarter and warned that it would continue bleeding cash. The new CEO Kelly Ortberg said the plane maker had to overhaul its culture in order to end the multi-year crisis which has shaken customers' and…
Goldman Sachs, Apple and other companies to pay US $89mn fines for credit card program
Goldman Sachs, Apple and the US Consumer Finance Watchdog have been fined more than $89mn for "illegally sidestepping" their obligations towards customers of their joint credit card business.
The fines announced Wednesday highlight the…
Starbucks cancels its 2025 forecast after falling sales and earnings
Starbucks suspended its financial guidance after it released unexpected results showing a drop in revenue and sharp decline in quarterly earnings.
The preliminary results were published more than one week before schedule. They are the…
A new commission could ban English water companies making profits
Plans for a total overhaul of the system could prevent water companies in England from making profits. A new commission, set up by the Department for Environment, Food and Rural Affairs, is considering the idea in response to public outrage…
Where is my £10,500 refund if Tesla’s driving distance fell short?
I bought a Tesla Model 3 in June for £42,791. The advert stated that the car had a 318-mile range, but when I charged the battery fully the car's display said only 248 miles. Tesla was able to find out the reason why the advertised range of…
Chinese share buybacks reach record levels as Beijing increases support
This year, share buybacks at mainland China's largest exchanges reached a new record as Beijing pushed companies to return cash back to shareholders in an effort to revive the flagging stock markets.
According to Chinese financial data…