Buy now pay later Klarna moves again toward $20bn US float

Creative Media NewsTuesday, 14 May 2024, 21:560

Early next year, Klarna, which is establishing a new holding company in the United Kingdom, is focusing on a listing in New York.Buy now, pay later (BNPL) finance behemoth Klarna has successfully surmounted a significant obstacle in its pursuit of a stock market listing, which could potentially fetch it $20 billion (£15.9 billion) in value.

Biden imposes 100% tariff on Chinese EVs

Creative Media NewsTuesday, 14 May 2024, 15:470

President Joe Biden of the United States has announced a 100 percent tariff on electric vehicles manufactured in China as part of a series of measures intended to protect American manufacturers from cheap imports.In a move that is likely to escalate trade tensions between the two largest economies in the world, the White House announced that it would impose stricter restrictions on $18 billion worth of Chinese products.

TSB announces 36 branch closures and hundreds of job cuts

Creative Media NewsWednesday, 8 May 2024, 22:410

According to the trade union Unite, the high street lender's decision is a "grave error" and "certainly results in a deterioration of service for customers due to these layoffs."The TSB, a bank on the high street, has declared the closure of 36 branches and the loss of 250 jobs.The bank will implement workforce reductions in the fraud operations department, central operations, and personnel working at the branches designated for closure.

Data shows Chinese state aid hampers Western business competition

Creative Media NewsFriday, 3 May 2024, 13:400

As of now, the analysis conducted by the OECD Club of Nations represents the most exhaustive endeavour to quantify the various forms of state aid and to compare regions. In comparison to their Western counterparts, Chinese manufacturers receive nine times more government support, according to calculations by the Organisation for Economic Co-operation and Development (OECD). These figures help to explain China's overwhelming dominance in so many industries, including steel, solar panels, and batteries.

Manufacturing firms ordered to ‘raise red flag’ in Russia sanctions probe

Creative Media NewsThursday, 2 May 2024, 0:010

It is stated at a parliamentary hearing that British businesses that are jubilant over a surge in sales to Eurasia countries down the pub ought to be investigating the cause of that increase. A sanctions expert advised members of parliament that British manufacturers exporting goods to nations amicable to Russia ought to "raise a red flag" if their sales increase dramatically.

A London flotation by Chinese online titan Shein will bolster FTSE 100

Creative Media NewsTuesday, 30 April 2024, 2:000

When the Chinese online colossus Shein announces that it will float its shares in London, the FTSE 100 is anticipated to receive a boost as soon as the following month. In the wake of the fashion group's chairman Donald Tang's visit to the United Kingdom last month, Labour's shadow business secretary Johnny Reynolds, and Chancellor Jeremy Hunt have expressed their support for a blockbuster share offer.

Digital bank Monzo raises £500m from top tech investor

Creative Media NewsMonday, 29 April 2024, 23:000

In a round led by Hedosophia, an early investor in Uber and Airbnb, Monzo is raising around £500 million.One of the most well-known technology investors in the world is involved in an enlarged fundraising that Monzo, the fintech that has grown to become one of Britain's largest consumer banking firms, is completing this weekend. Monzo and Hedosophia, an early investor in Uber and Airbnb, have reached an agreement for the latter to become a shareholder in the bank.

Over 400 jobs lost as Haleon closes UK production site

Creative Media NewsMonday, 29 April 2024, 20:000

As an effort to reduce expenses, the largest independent consumer healthcare provider in the world, Haledon, will shut down its production facility in the United Kingdom, resulting in the loss of hundreds of employment. A spokesperson for the company verified to Reuters that the closure of the Maidenhead facility, which manufactures oral health brands such as Sensodyne toothpaste, will result in the elimination of approximately 436 positions by 2026.

Musk visited China to explore full self-driving

Creative Media NewsSunday, 28 April 2024, 16:310

According to media reports, Elon Musk's purpose in Beijing is to discuss the possibility of enabling autonomous driving mode on Tesla vehicles in China. Musk intends to implement Full Self-driving (FSD) in China and transfer data gathered within the nation to another location for training algorithms. FSD is offered in certain nations, such as the United States, but not in China.

BHP acquires Anglo American for £31bn mining transaction

Creative Media NewsFriday, 26 April 2024, 12:460

A prospective result of mining giant BHP's £31 billion offer to acquire competitor Anglo American is the formation of the largest copper miner in the world. The world's largest platinum producer, Anglo American, which is listed on the FTSE 100, stated that its much larger Australian competitor, BHP, submitted an "unsolicited, non-binding, and highly conditional" all-share bid for the group.

Premier League announces £40m Guinness partnership

Creative Media NewsThursday, 25 April 2024, 13:380

Twenty premier clubs have been informed of a proposed four-year agreement with FTSE-100 beverages behemoth Diageo that would cost more than £41 million. The Premier League of English football is celebrating a £40 million sponsorship agreement with Guinness, which the Diageo-owned brand secured after Heineken withdrew its competition.

Lloyds’ profits plummet after a record-breaking year

Creative Media NewsThursday, 25 April 2024, 13:010

According to the largest mortgage lender in Britain, pre-tax earnings decreased by 28% in the first quarter of 2024. Nevertheless, it maintained that the decline was consistent with anticipated outcomes.Profits at Lloyds Banking Group have decreased since the company posted record-breaking results the previous year.

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