Nexperia told to sell UK microchip manufacturing over ‘national security risk’

Creative Media NewsFriday, 18 November 2022, 4:000

Chinese owner ordered to decrease ownership in Newport Wafer Fab semiconductor factory, “placing at jeopardy the livelihoods of [workers] and their families, as well as more than £100 million of taxpayers’ money” Due to security concerns, a Chinese-owned technology business has been instructed to divest the majority of its stake in a British silicon chip...

Royal Mail requests to discontinue Saturday letter delivery

Creative Media NewsThursday, 17 November 2022, 14:000

Royal Mail has requested the government for permission to stop delivering letters on Saturdays to reverse its fortunes after suffering a deficit in the first half of the year. The company wished to reduce the number of delivery days from six to five, from Monday through Friday exclusively. However, parcel delivery services would continue to...

Milk and cheese cause a 45-year peak in food price inflation.

Creative Media NewsThursday, 17 November 2022, 4:000

The cost of staples such as milk, cheese, and eggs is soaring at the quickest rate in the past 45 years. The annual rate of food price inflation reached 16.2% in October, up from 14.5% in September, according to the most recent data. Inflation has reached its highest level since 1981 due to the rapid...

The CEO of Jaguar Land Rover will resign “for personal reasons”

Creative Media NewsThursday, 17 November 2022, 3:000

Just days after the carmaker declared an improvement in its financial performance, the chief executive of Jaguar Land Rover (JLR) has resigned claiming “personal reasons.” Thierry Bollore, who joined the UK firm in September 2020 from Renault, will be replaced immediately by chief financial officer Adrian Mardell, the company’s Indian parent company Tata Motors announced....

Deliveroo, a UK-based meal delivery company, has left Australia.

Creative Media NewsThursday, 17 November 2022, 2:000

Deliveroo, a food delivery app founded in the United Kingdom, is leaving Australia, blaming the country’s difficult economic conditions. The 2015-established Australian operation of the corporation is being placed into voluntary administration. Deliveroo is under increasing pressure to recognize its 15,000 riders as employees, as the nation’s new administration pledges to improve conditions for gig...

After supply problems, Asda and Lidl limit egg sales.

Creative Media NewsWednesday, 16 November 2022, 16:000

Due to supply concerns, certain retailers, including Asda and Lidl, have begun limiting the number of egg cartons consumers may purchase. Asda stated that consumers would be limited to purchasing two cartons of eggs until further notice, while Lidl supposedly imposes a limit of three cartons. Farmers of chicken in the United Kingdom face increased...

Rising energy and food costs push inflation to its highest level since 1981, 11.1%.

Creative Media NewsWednesday, 16 November 2022, 9:000

In October, the rate of inflation increases significantly more than anticipated by economists, putting pressure on the Bank of England to maintain the rate of an interest rate increase to curb economic demand. The latest increase in energy costs has contributed to a greater-than-anticipated increase in the rate of inflation, which reached a 41-year high...

Elon Musk Tesla’s wage package will be litigated.

Creative Media NewsWednesday, 16 November 2022, 6:000

The staggering $56 billion compensation package handed to Tesla CEO Elon Musk in 2018 is being challenged in a United States court. A shareholder has requested a U.S. judge to revoke the record-breaking award, which was disclosed by the electric vehicle manufacturer four years ago. Mr. Musk’s salary was related to performance goals, such as...

Record wage increases continue to lag behind soaring inflation

Creative Media NewsTuesday, 15 November 2022, 16:000

The wage growth rate is the highest it has been in over two decades, but it still lags significantly behind the rising cost of living. In the year leading up to September, regular pay increased by 5.7%, the fastest increase since 2000, excluding the pandemic, when people returned to work from furlough to receive substantial...

Office for National Statistics figures show higher wages and higher unemployment.

Creative Media NewsTuesday, 15 November 2022, 8:000

The most recent pay data will certainly cause alarm among policymakers at the Bank of England, who believe that wage rises may fuel inflation in the future. In the three months leading up to September, wage growth exceeded expectations, according to official data that also indicates a jump in the unemployment rate. The Office for...

Jeff Bezos plans to donate most of his fortune.

Creative Media NewsTuesday, 15 November 2022, 7:000

Jeff Bezos, the creator of Amazon, has stated that he intends to donate the majority of his $124 billion fortune throughout his lifetime. The businessman informed CNN that he will dedicate his fortune to combating climate change and decreasing inequality. He has been criticized in the past for not vowing to donate his riches to...

1,600 employment at Joules and The Garden Trading Company are at stake.

Creative Media NewsTuesday, 15 November 2022, 4:000

The company has endured rising costs and difficult trading, and mild autumn weather is the most recent obstacle it has encountered as it races to reach an emergency cash call agreement with investors. It has been announced that the parent company of fashion retailer Joules and The Garden Trading Company is on the verge of...

Most Popular

Most Popular

categories

Highlights

Highlights

Business News

Grid News

Latest Post

Useful Links

Latest News

Latest Business News