Thomas Lee, a pioneer in private equity, commits suicide by gunfire.

Creative Media NewsSaturday, 25 February 2023, 0:000

As a New York coroner investigates the cause of his death, the Lee family claims he was in charge of investing more than $15 billion in the capital throughout his career. A billionaire financier regarded as a pioneer of private equity investment was discovered dead in his New York office, reportedly by suicide. The 78-year-old...

Qantas: Australian airline’s profits rebound after huge Covid losses

Creative Media NewsFriday, 24 February 2023, 12:000

In a dramatic reversal of fortunes since last year, Qantas has announced half-year profits of more than A$1.4 billion. It follows the company’s losses of over A$7 billion during the pandemic when Australia imposed stringent travel restrictions. Its problems persisted throughout the past year, with numerous complaints about canceled flights, missing luggage, and delays. Strong...

Steel industry fears more job cuts without aid

Creative Media NewsFriday, 24 February 2023, 8:000

Concerns have been expressed by the steel industry that more jobs may be lost before any government assistance for electricity costs. Gareth Stace, director general of industry body UK Steel, thinks British Steel’s 260 job cuts could start a trend. Beginning next year, the government intends to reduce electricity costs for energy-intensive industries. For businesses...

Toyota and Honda declare the largest pay increases in decades.

Creative Media NewsFriday, 24 February 2023, 4:000

Toyota and Honda, two titans of the Japanese automobile industry, have reportedly agreed to grant their domestic employees the largest pay increases in decades. They are the most recent companies in the world’s third largest economy to raise compensation as prices rise. Japan’s inflation rate reached its greatest level in more than 40 years, according...

Lloyds raises bonus fund by 12% despite flat profits of £6.9bn due to bad loan charge.

Creative Media NewsThursday, 23 February 2023, 8:000

Despite pre-tax profits remaining unchanged compared to the previous year, Lloyds Banking Group has announced a 12% increase in its bonus pool for 2022. The bank, the nation’s largest mortgage lender, reported earnings of £6.9 billion for the year, the same amount as in 2021. The bank set aside £1.5 billion for troubled loans over...

Despite food scarcity, North Korean state media advises against accepting “poisoned candy” foreign aid.

Creative Media NewsThursday, 23 February 2023, 4:000

This editorial appears in the newspaper of the ruling Workers’ Party, Rodong Sinmun. Amid warnings of severe food scarcity in the impoverished nation. Which has suffered in recent years from extreme weather, international sanctions, and the effects of COVID-19. Despite worsening hardships and reported food shortages, the official newspaper of North Korea has stated that...

Starbucks Introduces Olive Oil Coffee Drinks in Italy

Creative Media NewsThursday, 23 February 2023, 2:000

Starbucks, the largest coffee company in the world, is introducing a line of olive oil-infused beverages in Italy. According to Howard Schultz, the unexpected, velvety, buttery flavor of olive oil “enhanced the coffee and lingered gorgeously on the palate.” Starbucks is among the main U.S. companies that have encountered obstacles while attempting to enter the...

Mormon Church fined for hiding $32bn assets

Creative Media NewsWednesday, 22 February 2023, 22:000

The Mormon Church, formally known as the Church of Jesus Christ of Latter-day Saints (LDS), and its investment firm will pay $5 million (£4.1 million) to settle allegations that they concealed a massive cache of shares. The LDS and its investment firm, Ensign Peak Advisers, concealed a $32bn stock portfolio using “shell” companies, according to...

The quarterly profit of banking titan HSBC nearly doubles.

Creative Media NewsWednesday, 22 February 2023, 4:000

Globally increasing interest rates have aided the global banking behemoth HSBC in nearly doubling its quarterly profit. For the final three months of 2022, the London-based company reported a profit before taxes of $5.2bn (£4.3bn), an increase of more than 90 percent compared to the same period one year prior. However, pre-tax profit for the...

“Major breakthrough”: Most firms will keep a four-day workweek after effective trial.

Creative Media NewsTuesday, 21 February 2023, 10:000

The number of sick days taken by staff participating in the trial decreased by approximately two-thirds, and nearly two-fifths reported feeling less anxious. The world’s largest trial of a four-day workweek has been deemed a success, with the majority of participating companies stating that they will continue to offer a reduced workweek. The pilot, which...

Home asking prices grow least in February in 22 years.

Creative Media NewsTuesday, 21 February 2023, 2:000

According to the property website Rightmove, the average asking price for a residence in the United Kingdom rose by just £14 from January to February, the smallest monthly increase since the website began keeping records in 2001. It is stated that the average asking price for a property is currently £362,452. Typically, asking prices increase...

Virgin Media O2 submits a £100 million proposal for altnet competitor Trooli.

Creative Media NewsTuesday, 21 February 2023, 0:000

The telecoms behemoth jointly owned by Liberty Global and Telefonica is among the parties pursuing offers for Trooli. Which aims to connect one million households by the end of the following year. Virgin Media O2 and its shareholders are pondering a Trooli takeover. In a formal auction, Liberty Global and Telefonica’s telecoms giant is among...

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