VivaCity, the transport technology scaleup transforming cities into smarter and more efficient places to live and work, has partnered with Transport for Wales (TfW), Welsh Government (WG) and Welsh Local Authorities to encourage safe, active, and sustainable travel. Working with different Local Authorities across the country, VivaCity’s AI-powered sensors help to shape decision making on […]
Chancellor Jeremy Hunt has backed interest rate hikes being used to calm soaring inflation even if they increase the risk of pushing the UK into recession. Mr Hunt insisted in an interview aired on Friday that the “only path to sustainable growth” is to bring down the high prices behind the cost-of-living crisis. The Bank […]
Asda is finalising a deal to buy its sister business EG Group’s UK and Irish petrol forecourts in a deal worth £3bn, allowing the supermarket to step up its shift into convenience retailing. The businesses are expected to formally announce a long-awaited tie-up in the next few days, which will create a combined business worth […]
Drivers in Britain have seen their choice of battery electric car models quadruple in the past five years as manufacturers commit to delivering the UK’s ambition of being the first major car market to go zero emission. There are now around 80 ‘electric picks’ available across every vehicle segment – compared with just 21 in […]
Germany slipped into an official recession over the winter, triggered by family finances being crushed by sky high energy bills, official figures out today show. Revised estimates from the country’s statistics agency, Destatis, revealed gross domestic product (GDP) contracted 0.3 per cent in the first three months of this year. The organisation previously thought output […]
Net migration to the UK has hit a record high of 606,000, new figures released this morning reveal. The significant surge in legal migration for 2022 has hit the highest level on record, according to Office for National Statistics (ONS) data. It follows weeks of speculation over the numbers with prime minister Rishi Sunak seeking […]
Anne Boden is stepping down as chief executive of Starling Bank, nine years after founding the company. The Welsh businesswoman said it was the right time to step aside as it reported a record pre-tax profit of £195m, a six-fold increase on the previous year. She will step down on 30 June, but will stay […]
UK mortgage holders will see their monthly payments jump to up to 30% of their income from about 20% over the past few decades, the boss of Barclays has said. CS Venkatakrishnan, known as Venkat, said the sharp rise in interest rates will lead to a “huge income shock” by the end of next year. […]
Office workers in central London are spending on average 2.3 days a week in the workplace, according to a report that warns against a wholesale switch to working from home. The thinktank Centre for Cities carried out polling of office workers in the capital and found they were spending 59% of the time in their […]
Virgin Orbit, the satellite launch company founded by British billionaire Richard Branson, will permanently cease operations, just months after a major mission failure. The California-based firm, which had already filed for Chapter 11 bankruptcy protection in the United States in early April, has auctioned off its main assets, recovering just over $36m. That figure is […]