Elon Musk has moved to terminate his $44 billion takeover of Twitter, walking away from a bid that had faced growing scepticism on Wall Street. Lawyers representing the world’s richest man argued that the social media group was in “material breach” of the merger agreement, alleging that it appeared to have provided “false and misleading […]
Local authorities in Germany have begun rationing energy, dimming street lights and closing swimming pools to cope with soaring gas prices in the wake of Russia’s move to slash energy supplies. The country has been plunged into an energy crisis after the Kremlin last month moved to sharply reduced gas supplies to Germany, leaving utilities […]
Sainsbury’s has seen off an attempt by a group of shareholders to force it to commit to paying the so-called real living wage to all staff. At the retailer’s annual meeting yesterday 83.31 per cent of shareholders who voted were against the resolution put forward by the non-profit group ShareAction, whose City backers included Legal […]
New figures out this morning show that the growth of the “subscription economy” is stalling rapidly as living costs squeeze household budgets and people return to pre-coronavirus pandemic routines. More than a third (36%) of people say they have cancelled at least one subscription because their disposable income has fallen as interest rates and inflation […]
Dairy farmers are warning that a chronic shortage of workers is hitting milk production and further fuelling food price inflation, and are calling for urgent action to stop the situation getting worse. Eight in 10 farm owners looking for workers said they had received very few or zero applications from people with the right experience […]
What price happiness? The answer might be £3,360 a year, as the average UK worker would take a 10.5% pay cut to work for an employer where staff enjoy “above average” levels of happiness, a study has shown. The research, which examined 23 million jobseekers across the UK, US and Canada, comes amid a growing […]
Shell expects its refining profits to jump by as much as $1.2 billion this quarter as it benefits from record high fuel prices. The oil and gas giant said indicative gross profit margins for its global fuel refining business had almost trebled to $28 per barrel in the second quarter, from just over $10 a […]
The June edition of the UK Export Monitor by Coriolis Technologies and The Institute of Export & International Trade (IOE&IT) further highlights the struggles British businesses are facing as a result of the pandemic, supply chain crisis, Russia-Ukraine conflict, and Brexit. Total exporter revenues have dropped across the UK by 2% since last month. Wales […]
Nadhim Zahawi, the new chancellor of the exchequer, has called for a review of the UK’s corporate tax policy in a clear hint that a rise from 19p to 25p due next year could be reduced or scrapped. Zahawi, who took up the post on Tuesday evening after Rishi Sunak’s resignation, said he wanted to […]
Nearly three quarters of Brits say they do not feel that their employer has adequately kept up with the cost of inflation. When asked how they plan to handle the rising cost of living in the next 12 months, over two in five Brits say that they feel they could be forced to find alternative […]