Browsing Category
Companies
Founder Emad Mostaque exits AI picture start-up StabilityAI
Emad Mostaque has left Stability AI. The pioneering start-up that he founded in order to create images at will.
Mostaque was gifted and talented. He formed StabilityAI in order to promote the Stable Diffusion Tool, which allows users…
Chinese giant to build UK’s largest gigafactory
It has been revealed that a Chinese company, which makes batteries for BMW electric vehicles, is about to invest billions of pounds in the construction of Britain's largest gigafactory.
EVE Energy is the largest producer of cylindrical…
US accuses Apple of building smartphone market monopoly in antitrust case
In the latest attack on the Big Tech giants, Joe Biden's government is suing Apple over its alleged use of power to limit competition and restrict consumer choice in the smartphone industry.
Apple is under pressure from rivals and…
Raiffeisen pulls AT1 bond deal over Russia deal fears
Raiffeisen Bank International abandoned its planned sale of risky debt on Wednesday after a "negative market reaction" following a report claiming that the US put pressure on the Austrian bank over a deal it had made with Russian oligarch…
Kering, the owner of Gucci, issues a profit warning following a slump in China sales
Kering, the luxury goods company owned by Francois-Henri Piault, issued a profit warning due to a decline in demand for its flagship brand Gucci.
The Paris-based company, unlike its competitors in the same sector who have done better,…
Pfizer begins to reduce its stake in Haleon
Pfizer is selling a stake of its former joint venture in consumer healthcare, Haleon. The sale will be worth approximately £2.3 billion.
The American drug company intends to reduce its remaining holdings in the manufacturer of Sensodyne…
The world’s largest solar company is cutting thousands of jobs due to falling prices
Solar panel manufacturers are set to cut their workforce by almost one-third as they struggle with an oversupply of panels and fierce competition.
Longi Green Technology Energy, a Chinese company, plans to reduce its staff by 30pc in a…
BAT Chief: Moving to US is not a “no-brainer” as he defends London Listing
British American Tobacco's chief executive has called the idea of moving its listing from London to New York a "distraction" after learning that one of the company’s top-10 shareholders who had pushed for this change left his position.…
Marlboro owner sells Bud Light stake for $2.2bn after trans controversy
News of the sale of shares comes as owner of beer tries to reclaim all American reputation
After a backlash due to an ad campaign featuring a female transgender influencer, the owner of Marlboro cigarettes will sell $2.2bn of shares…
Welsh Water ordered to compensate customers for misleading data
Welsh Water has agreed to pay its customers £40million after misleading regulators regarding its performance in terms of leakages and water consumption.
Ofwat, a water regulator, stated that the company has been providing inaccurate data…
Hornby now offers Corgi cars in its toy collection
Hornby's annual revenue is expected to increase by 2 million pounds sterling after it adds Corgi racing cars to its model train collection and Scalextric racing car.
The Frasers Group, owned by Mike Ashley, increased its investment in…
Boeing whistleblower killed in truck
In South Carolina, a Boeing whistleblower was found dead. He had been giving testimony in a suit against the company.
John Barnett, who retired in 2017 from Boeing after 17 years' service, later claimed that the company had serious…
List of late payers includes names and shame for big companies
Coca-Cola UK, Formula One Marketing, and Reckitt all rank among the "rogues gallery" of slowest payers of invoices by small businesses in Britain. They take an average of 110 days to settle their bills.
Good Business Pays (which…
Bahrain’s Mumtalakat wants to sell its controlling stake in McLaren despite mounting losses
Bahraini McLaren owners have hired bankers in order to sell their stakes in the British automaker after investors forced it to inject £1.5bn to support it in the aftermath of the pandemic.
Mumtalakat is Bahrain's sovereign fund, which…
Selfridges’ tycoon Rene Benko files insolvency
Rene Benko, the self-styled tycoon of Selfridges and Signa, has filed for bankruptcy following the collapse of his real estate empire.
In the most recent chapter of Mr Benko’s fall,, the embattled entrepreneur filed for personal…
Raising the VAT threshold to help small businesses
From April, thousands of small businesses and self-employed people will not be required to charge VAT at 20 percent.
The threshold for VAT registration has been raised from £85,000 up to £90,000. This is the first increase in seven…
Rentokil initial’s American dream comes true
Rentokil Initial's biggest acquisition to date has begun to pay dividends for the company, once known as the "royal rat catcher".
The FTSE 100 group in pest control reported a 44 percent increase in profits before tax in 2023, to £766…
Entain lost £40 million in earnings due to changes in gambling rules
The group that owns Ladbrokes, Sportingbet and other gambling brands revealed a £40-million hit to its earnings in 2024 due to regulatory headwinds from Britain and the Netherlands. This prompted analysts at the company's parent company to…