Virgin Orbit: Richard Branson’s rocket company declares insolvency.

Creative Media NewsWednesday, 5 April 2023, 8:000

Virgin Orbit, Sir Richard Branson’s rocket company, filed for bankruptcy in the US due to lack of funding. The satellite launch company ceased operations several weeks ago but hopes to locate a buyer. The California-based company announced last week that it would lay off 85 percent of its 750 employees. This year, a Virgin Orbit...

The Eurotunnel is utilised by coach companies following Dover ferry delays.

Creative Media NewsWednesday, 5 April 2023, 0:000

Coach operators have increased their inquiries to Eurotunnel to avoid a repeat of the weekend ferry delays at Dover. Currently, ferry companies are negotiating with port authorities after a critical incident was declared when passengers were forced to wait for more than 12 hours. However, Eurotunnel stated that it was unlikely to have availability due...

Oil prices rise after big producers pledge to cut production.

Creative Media NewsTuesday, 4 April 2023, 0:000

In addition to higher petroleum prices, there are concerns regarding the effect on inflation and broader concerns regarding those who will benefit, particularly the Russian president. After Saudi Arabia and other major oil producers pledged to reduce output, oil prices increased by more than 6 percent. Brent crude, the international oil benchmark, increased by 5.5%...

Continental and Sorrell fund driver platform 4.

Creative Media NewsMonday, 3 April 2023, 16:000

The German industrial conglomerate and S4S Ventures are spearheading a $21 million Series A funding round for 4. screen, which enables brands such as Shell to target drivers on the move. A subsidiary of the German multinational Continental and a venture fund co-founded by Sir Martin Sorrell have led a $21 million investment in a...

Has an energy titan started a new price war after 18 months of turmoil? Is it time to swap suppliers?

Creative Media NewsMonday, 3 April 2023, 12:000

Don’t transfer suppliers, has been the advice on energy bills for the past year and a half. It contradicts everything we have been told for the past 20 years, when switching providers frequently was the only way to avoid overpaying. Sky -Rising wholesale gas prices meant that providers like British Gas, Octopus, and Ovo could...

Cost of living: Running a bar is “worse now than it was during COVID.”

Creative Media NewsMonday, 3 April 2023, 10:000

According to a survey conducted by UK Hospitality, businesses anticipate an 82% increase in their energy expenditures when government support ends this month. It could spell the last orders for many pubs struggling to survive the cost of living crisis. When the Energy Bill Relief Scheme expires this month, the British Beer and Pub Association...

Swiss investigation into UBS’s acquisition of Credit Suisse

Creative Media NewsSunday, 2 April 2023, 20:000

Swiss prosecutors have launched an investigation into UBS’s abrupt acquisition of Credit Suisse, the country’s second-largest bank. When concerns about Credit Suisse’s financial situation arose last month, the transaction was rushed through. The Federal Prosecutor of Switzerland announced on Sunday that it would investigate any potential “criminal offenses” that had been committed. Credit Suisse and...

Virgin Voyages, supported by Branson, sets sail in search of new funding

Creative Media NewsSunday, 2 April 2023, 2:000

Eight months after raising $550 million from the world’s biggest asset manager, Virgin Voyages is seeking hundreds of millions more. Sir Richard Branson’s cruise-line venture is pursuing hundreds of millions of dollars in new funding. Even though the founder of the Virgin Group is experiencing financial turmoil in other areas of his business empire. Virgin...

ECSC is acquired by Daisy creator Riley.

Creative Media NewsSaturday, 1 April 2023, 14:000

The privately held communications services provider is nearing an agreement to acquire ECSC, whose customers include Nationwide and the Wimbledon tennis championships. With a recommended offer to acquire London-listed ECSC, the founder of one of Britain’s largest privately held IT services groups is close to completing its first cybersecurity acquisition. Daisy Group, founded by Matt...

The UK economy will be boosted by 0.08% as a result of the UK-Asia trade agreement.

Creative Media NewsSaturday, 1 April 2023, 4:000

Three years after exiting the EU, the UK joined a trade treaty with 11 Asia-Pacific nations. According to the government, joining the group will increase UK exports by reducing tariffs on products such as cheese, cars, chocolate, machinery, gin, and whisky. The government believes that joining the bloc will increase the British economy by 0.08...

The British private sector contracts for the eighth consecutive quarter.

Creative Media NewsThursday, 30 March 2023, 14:000

The CBI anticipates the economy will return to growth in the next quarter, but cautioned that the United Kingdom is “approaching stagnation-like conditions rather than delivering the robust, sustainable growth we require.” The private sector in the United Kingdom has contracted for the eighth consecutive quarter. According to data from the Confederation of British Industry,...

Future is the focus of M&C Saatchi as Byng-Thorne assumes the chair

Creative Media NewsThursday, 30 March 2023, 10:000

Zillah Byng-Thorne may succeed Gareth Davis as chief of the Barclays and NHS advertising firm. M&C Saatchi, a London-listed advertising agency, has enticed one of Britain’s most prominent media executives to become its next chair. Zillah Byng-Thorne, the departing head of Future, the publisher of The Week, has consented to replace Gareth Davis. In the...

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