London-listed SPAC seeks Istesso merger.

Creative Media NewsSaturday, 28 January 2023, 20:000

First SPAC to list in London following regulatory changes, Hambro Perks Acquisition Company is in advanced merger talks with drug company Istesso. The first “blank check” business to list in London following a reorganization designed to help the City compete with rival financial centers is in merger talks with a privately owned pharmaceuticals company developing...

Flybe administration: scramble to revise plans as airline quits trading

Creative Media NewsSaturday, 28 January 2023, 12:000

Flybe’s decision to cancel all flights on Saturday thwarted Sophie Levy’s plans for a quiet vacation to Windsor to visit family. The airline announced that it had suspended operations, and 277 of its 321 employees were laid off. Sophie is one of the 2,500 people who were forced to alter their travel arrangements on Saturday...

Shapps’ £600m aid offer requires a decade-long steel jobs guarantee.

Creative Media NewsSaturday, 28 January 2023, 6:000

British Steel and Tata Steel have been informed that a six-month freeze on layoffs is one of the conditions of a £600 million government rescue package. The two largest steel producers in the United Kingdom would be expected to promise thousands of jobs for a decade in exchange for £600 million in government funding to...

Asda may strike over plans to cut thousands of jobs.

Creative Media NewsFriday, 27 January 2023, 6:000

There will be cordial negotiations over the chain’s goals. But a strike ballot could follow if major concessions are not made. According to a union source, Asda faces the possibility of strike action unless it makes significant concessions on its so-called “efficiency” measures, which have put thousands of jobs in danger. GMB delegates convened on...

Owner of Royal Mail estimates strike cost at £200m and questions CWU resolution.

Creative Media NewsThursday, 26 January 2023, 20:000

New financial predictions for the year ending in March are based on the assumption that union members accept Royal Mail’s “final” salary offer, according to the parent company IDS. The parent company of Royal Mail has increased its estimate of the cost of industrial action to date to £200 million and stated that up to...

UK auto production falls to its lowest level in 66 years.

Creative Media NewsThursday, 26 January 2023, 18:000

The number of new automobiles manufactured in the United Kingdom decreased dramatically again in 2016, reaching its lowest level since 1956. The decline is a 10% decline from 2021, which was an all-time low. The Society of Motor Manufacturers and Traders stated that a continued global scarcity of semiconductor chips has impacted production lines. However,...

Boeing is in court on a fraud accusation related to the 737 Max crashes.

Creative Media NewsThursday, 26 January 2023, 12:000

Three hundred and forty-six people perished in two plane crashes allegedly caused by aircraft manufacturer Boeing. Both accidents were caused by defects in the 737 Max’s flight control systems. Boeing settled for $2.5 billion for failing to disclose system-related information. Families of the deceased are attempting to reopen the settlement. It signifies that, for the...

Cost of living: Cash bonuses drive record bank switches

Creative Media NewsThursday, 26 January 2023, 10:000

In the final three months of 2012, a record number of customers switched to a different bank. Thousands of individuals shifted their current accounts in search of additional income to assist with bill payments and price increases. Some banks offered up to £200 to switch customers. Between October and December, 376,107 accounts were transferred, the...

Eurostar trains carry about a third fewer people than before.

Creative Media NewsWednesday, 25 January 2023, 2:000

The CEO of Eurostar stated that the number of passengers on its trains between London. And Paris had decreased by 30 percent. Gwendoline Cazenave, the chief executive, stated there were “bottlenecks” in stations as a result of post-Brexit border inspections and existing staffing numbers. Currently, Eurostar operates 14 daily services between London and Paris; in...

Elon Musk asserts a tweet from Tesla was authentic in a fraud lawsuit.

Creative Media NewsWednesday, 25 January 2023, 0:000

Elon Musk told a judge that he was attempting to do the “right thing” when he tweeted that he had sufficient backing to take Tesla private. The CEO of an electric vehicle manufacturer is on trial after investors claimed a tweet from 2018 cost them millions of dollars when a deal fell through. Mr. Musk...

Energy bill assistance boosts UK debt to 30-year high

Creative Media NewsTuesday, 24 January 2023, 14:000

Government borrowing reached an all-time high in December, driven by the expense of helping consumers pay their energy bills and rising interest rates on debt. The disparity between spending and tax revenue was £27.4 billion, the highest December total since records began in 1993. The interest on government debt has reached £17.3 billion, more than...

Amazon union fight continuing after workers’ success

Creative Media NewsMonday, 23 January 2023, 18:000

It has been nearly a year since workers at an Amazon warehouse in New York voted to form the company’s first labor union in the United States – a historic win that garnered worldwide attention. However, the conflict remains unresolved. Amazon has taken legal action against the outcome of the election. Attempts to organize workers...

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