Business News
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Shohei Ohtani’s interpreter sacked for theft-related claims
Ippei Mizuhara, the longtime interpreter for baseball superstar Shohei Ohtani, was terminated by the Los Angeles Dodgers on account of theft allegations associated with unlawful gambling. ESPN reports that Ohtani transmitted a minimum of $4.5 million (£3.5 million) from his bank account to a bookmaker. Ohtani has not been charged with any crime. Mr. Mizuhara discussed his gambling obligations with the sports network on Tuesday.
Lenders promise banking hub revamp amid cash access dispute
As tensions rise between the government and Labour, high street banks have pledged to finance 225 hubs throughout the United Kingdom and diversify their services. Amid escalating political concerns regarding cash accessibility, Britain's largest high street lenders have committed to enhance dozens of shared banking centres and establish over one hundred new locations.
Flying taxis could launch in two years under new drone proposal
By the decade's end, the Future of Flight Action Plan also anticipates the widespread implementation of crime-fighting drones and critical 999 care deliveries. A piloted hovering taxi could be operational in the United Kingdom within two years. The Future of Flight action plan, published by the Department for Transport (DfT), includes a proposal to operate taxis without pilots present by the year 2030.
Japanese interest rates rise for first time in 17 years
Borrowing costs have increased by the Japanese central bank for the first time in seventeen years. The main interest rate of the Bank of Japan (BOJ) was raised from -0.1% to a range of 0%-0.1%. It comes as salaries have increased in tandem with rising consumer prices. The bank reduced the rate to zero in 2016 in an effort to stimulate the economy, which had become stagnant.
Unilever will lay off 7,500 workers
To "maximize returns for shareholders," the company intends to divest its extensive ice cream business to realize cost reductions in other areas. Unilever, the manufacturer of consumer products such as Marmite and Domestos, has disclosed its intention to reduce its workforce by 7,500 employees worldwide.
How troubled is Boeing?
Piloting a Boeing 737 Max is described by Captain Dennis Tajer as "observing a troubled child." The pilots union for American Airlines, the Allied Pilots Association, is led by its president, who asserts that he would never board an unsafe aircraft. However, he declares that he must recognize the calibre of the aircraft he is operating.
Chancellor told: EU’s £7bn bombshell cripples our investments
In a letter to the Chancellor this week, city administrators demanded that he eliminate absurd European Union regulations that harm savers. Sir Douglas Flint, one of the most esteemed personalities in finance and chairman of investment firm Abrdn, is among the over 130 money managers who have signed the letter to Jeremy Hunt.
Energy firms won’t provide new smart meter displays
The inability of households throughout the United Kingdom to monitor their energy consumption is due to the refusal of their ...
John Lewis profits, partners bonus miss, job cuts
Waitrose was primarily responsible for the company's strong financial performance in the previous year. John Lewis has returned to profitability after a three-year absence; however, its employees continue to be subjected to job cuts and an additional year without a bonus. Profit of £56 million was reported by the corporation that operates the John Lewis department stores and Waitrose grocery stores, following a loss of £234 million in the preceding fiscal year.
EU investigates AliExpress for illicit online goods
The European Commission has initiated a formal investigation into the Chinese e-commerce platform AliExpress in response to allegations of illicit and explicit material being hosted on the site. The European Union's executive arm announced on Thursday that it would conduct an investigation into the e-commerce behemoth by the Digital Services Act (DSA), which mandates that platforms enforce greater measures against harmful and illicit products.
The British economy recovers to expansion
According to official data, January marked the return of expansion to the British economy. The gross domestic product (GDP), representing all goods and services produced in the United Kingdom, increased by 0.2%, according to the Office for National Statistics (ONS). It is the first official announcement of economic growth since last month when a recession was officially declared following two consecutive three-month periods of negative growth.
Metro Bank cuts 1,000 jobs, narrows losses
Approximately 800 positions were under review, according to Metro Bank at the end of the previous year, pending "further evaluation of the cost base." Following a balance sheet crisis the previous year, during which Metro Bank managed to secure new financing and a debt refinancing package amidst concerns for its survival, the lender initiated a cost-cutting initiative.