Ramla Soni

Monzo co-founder steps down as UK chief executive and becomes the bank's president

May 26 2020 @ 10:42
TS Anil, the bank’s US chief executive, is said to take over Blomfield’s CEO role Tom Blomfield is stepping down as UK chief executive of Monzo, the digital bank he co-founded and will now serve as Monzo’s president. Blomfield said that he hoped his new role would give him the ability to “try to unwind […]
 

German government flies to rescue of Lufthansa

May 26 2020 @ 10:41
The German state will take a 20 per cent stake in the national carrier after agreeing a €9bn bailout package Lufthansa airlines is to receive a €9 billion (£8bn, $9.9bn) rescue package from the German government. This will leave the state in possession of a 20 per cent stake in the national carrier, which it intends to sell […]
 

Rolls-Royce to cut 9,000 jobs due to coronavirus hit

May 21 2020 @ 10:50
Rolls-Royce is to cut nearly a fifth of its workforce as it expects the disruption to the aviation industry caused by coronavirus to last for several years. The aircraft engine maker said it would cut at least 9,000 out of its 52,000 jobs, making it the biggest single reduction in headcount in 30 years. The majority […]
 

Oil price rise continues

May 21 2020 @ 10:45
Oil prices have reached their highest level since March, after a drawdown of US crude inventories and output cuts by major producers helped ease concerns about excess supply. Brent Crude futures for July delivery were trading up 62 cents, or 1.7 per cent, at $36.37 per barrel at 05:50 BST, rising for a second day. US West […]
 

Oil prices steady amid signs of output cuts

May 20 2020 @ 11:09
Benchmark Brent crude was up 4 cents or 0.1 per cent at $34.85 a barrel by 1205 GMT Oil prices steadied amid signs that producers are cutting output, while traders waited for more clarity on demand as some countries gradually ease out of coronavirus lockdowns. Benchmark Brent crude was up 4 cents or 0.1 per […]
 

Uber to cut 3,000 more jobs and close 45 global offices

May 20 2020 @ 10:50
Uber has said it will cut 3,000 more jobs, close or consolidate 45 global offices, and reduce its investments in several “non-core” projects as it comes to terms with the coronavirus pandemic. This in addition to the 3,700 job losses announced earlier this month. The workforce cuts do not include drivers, whom Uber considers independent contractors. […]
 

Nasdaq tightens rules for Chinese companies going public

May 19 2020 @ 10:39
Nasdaq is to enforce stricter requirements for companies seeking to go public on its exchange. These would affect countries including China. The New York-based stock exchange will require companies to raise at least $25 million in equity capital in an IPO (initial public offering) or a sum equivalent to a quarter of the value of […]
 

Australia to push for carbon capture to help cut emissions

May 19 2020 @ 10:35
Australia needs to cut its annual emissions to 462 million tonnes of carbon dioxide equivalent to meet its Paris Climate Accord target Australia’s conservative government has agreed to bring in legislation that would allow carbon capture and storage projects to be backed by its Climate Solutions Fund. It would also provide credits to big polluters that cut […]
 

General Atlantic becomes fourth giant investor in Reliance’s Jio

May 18 2020 @ 10:33
General Atlantic is to acquire an $870m stake in Mukesh Ambani’s Jio Platforms, following an investment from Facebook last month General Atlantic is to acquire an $870m (€790m, £704m) stake in Mukesh Ambani’s Jio Platforms, expanding a run of investments by top US investors into the Indian digital company. The New York-based private equity firm […]
 

Alibaba founder Jack Ma exits Softbank board after record loss of $13bn

May 18 2020 @ 10:28
The group reported an annual operating loss of $13bn, its first annual loss in 15 years SoftBank has warned that it may not pay a dividend for the coming financial year, following an $18bn (£14.6bn, €16.3bn) loss from the Vision Fund that plunged the Japanese group its largest annual loss in its history and one […]
 
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