Inflation sends Germany into recession.
A revision to growth data indicates that persistent inflation helped drive Germany into recession in the first three months of the year.After the Ukraine incursion, Russian gas supplies dried up, hurting Europe's greatest economy, researchers say.The economy shrunk by 0.3% between January and March, according to the statistics office.This...
Newcastle United FC seeks Saudi events company Sela support.
The Saudi Arabian national team's Sela agreement will test new Premier League related-party transaction restrictions.A Saudi events company is in advanced negotiations to become the new shirt sponsor of Newcastle United FC, a transaction that will test the new Premier League regulations on related party transactions.Sela, which operates in...
New boss cancels Rolls-Royce carbon capture initiative.
As part of his efforts to reduce costs and refocus the FTSE-100 aircraft engine manufacturer, Tufan Erginbilgic has terminated work on a direct air capture product.Rolls-Royce Holdings is eliminating a portion of its carbon capture operation as the FTSE-100 engineering conglomerate streamlines under its new chief executive.The company abandoned...
IMF drastically raises UK economy prognosis but warns of further cost of living suffering.
As a result of Germany's "near-zero" growth rate forecast, Britain is no longer the group's laggard. However, a note of caution was issued regarding the future impact of increased interest rates.The International Monetary Fund (IMF) announced today that neither a recession nor the weakest economic growth among the seven...
China bans Micron from large infrastructure projects.
China asserts that products manufactured by US memory chip colossus Micron Technology pose a threat to national security.Sunday, the nation's cyberspace regulator announced that the nation's largest memory chip manufacturer poses "serious network security risks."It means that the firm's products will be prohibited from critical infrastructure projects in the...
Meta fined record £1bn for EU data breach
For a decade, EU Facebook user data has been transferred to the US, where privacy protections are less.The Irish data protection regulator penalised WhatsApp, Instagram, and Facebook a record €1.2 billion (1.04 billion pounds).It is the largest penalty ever imposed for a violation of the general data protection regulations...
Executives want $100m to start World Cup of Motorsport.
Sir Keith Mills, London's 2012 Olympic campaign architect, is part of a group planning A1GP's 15-year comeback.Executives, including a former director of world motorsport's governing body and the founder of the Nectar loyalty scheme Sir Keith Mills, are in discussions to raise $100 million (£80 million) to finance the...
China surpasses Japan as the world’s leading auto exporter.
China claims it has surpassed Japan as the world's largest exporter of automobiles in the first three months of the year.China exported 1.07 million vehicles during the period, an increase of 58% compared to the first quarter of 2022, according to data released by the government within the last...
Ed Sheeran, Adele, Harry Styles among richest Britons under 35.
According to the Sunday Times Rich List, Ed Sheeran, Adele, and Harry Styles are among the wealthiest individuals under the age of 35 in the United Kingdom.As a result of their success in the United Kingdom and the United States, each musician is estimated to be worth over $150...
BT could cut 55,000 employees by 2030, with AI replacing 10,000.
The company believes its full fibre broadband and 5G networks will require fewer workers to build and maintain.As part of efforts to cut costs and increase profitability, BT has announced plans to substantially reduce the number of employees, with artificial intelligence (AI) set to replace thousands of positions.The company's...
After bankruptcy, Princess Diana’s parents’ party supply were sold.
After failing to avoid administration, Party Pieces Holdings was sold to entrepreneur James Sinclair.After administration, the Princess of Wales' parents' online party items store was sold.Party Pieces Holdings, which was founded by Carole and Michael Middleton in 1987, was acquired by entrepreneur James Sinclair on Thursday.According to sources, the...
Starmer would seek ‘better’ Brexit agreement as car-making behemoth warns on UK future.
A committee of MPs is informed that the company will not be able to meet the provisions of a tariff-free trade deadline and that it should be postponed to aid the industry's electric vehicle efforts.Sir Keir Starmer stated that the United Kingdom requires an "improved" Brexit agreement with the...
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CBI members vote on lobby group’s future.
According to the CBI, more than 1,000 business executives were consulted regarding the organization's future direction.Following a succession of scandals, CBI members will begin voting today on the future of the business lobbying group.The organization was thrown into chaos after CBI employees made allegations of severe sexual assault against...
Additional disruption as a new surge of walkouts commences
Today, rail service will be interrupted in several places due to new walkouts.Aslef will strike Wednesday and June 3, the day of the FA Cup Final, while RMT will strike Friday.Aslef stated that there was "no waning enthusiasm" in the protracted dispute over wages and working conditions.The government stated...
Michael Ball returns to West End with musical that made him famous.
Michael Ball rose to prominence in 1989 with the song Love Changes Everything from Aspects Of Love; he is now performing the song again on the West End as the show receives a revival in London.Michael Ball describes it as "pretty much a dream come true" to return to...
Here’s why Arctic Monkeys are fond of Tom Jones:
After 57 dates in 33 countries, the Arctic Monkeys' world tour will return to the United Kingdom on Monday for a series of stadium performances.And anyone who has seen them recently knows that they have been strolling on stage to either Barry White's I'm Gonna Love You Just a...