Business

TfL commissioner Andy Byford quits in major blow to Sadiq Khan

L ondon’s transport commissioner has unexpectedly in a massive blow to mayor Sadiq Khan. Andy Byford, a popular, charismatic figure who had been at the helm of Transport for London for just over two years, will leave the crisis-hit organization at the end of October, it was announced on Thursday morning. He will return to …

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Meta aims to slash costs by at least 10% within MONTHS by nudging out staff

Facebook’s parent company Meta is aiming to cut expenses by at least 10 percent over the next few months by reducing staff and reorganizing departments, days after it was announced CEO Mark Zuckerberg has lost $ 71 billion dollars this year. The California company has been able to push out a number of staffers by …

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Woman had fatal reaction to ‘vegan’ Pret wrap, coroner concludes | UK news

A woman with a severe allergy to cow’s milk suffered a fatal anaphylactic reaction after eating a “vegan” Pret a Manger wrap contaminated with milk protein, a coroner has concluded. Maria Voisin, the senior coroner for Avon, said the wrap contained a coconut milk yoghurt supplied by another company, Planet Coconut, that was marked as …

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UK’s Ofcom probes Amazon, Microsoft and Google over cloud dominance

The probe will focus on so-called “hyperscalers” like Amazon Web Services and Microsoft Azure, which let businesses access computing power and data storage from remote servers. Chesnot | Getty Images British media regulator Ofcom is investigating Amazon, Microsoft and Google’s tight grip on the cloud computing industry. In the coming weeks, the watchdog will launch …

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UK interest rate rise – latest: Britain ‘in recession’ as rates hiked to 14-year high

Related video: How is the government going to help businesses with their energy bills? The Bank of England raised interest rates by 0.5 per cent in the biggest hike since 2008, as it forecast a 0.1 per cent drop in GDP over the current quarter, indicating the UK is already in recession. The Bank’s base …

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Credit Suisse weighs splitting investment bank into three

Credit Suisse has drawn up plans to split its investment bank into three and resurrect a “bad bank” holding pen for risky assets, as the Swiss lender attempts to emerge from three years of relentless scandals. Under proposals put forward to the group’s board, Credit Suisse hopes to sell profitable units such as its securitized …

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Somerset Capital for sale in potential windfall for Jacob Rees-Mogg

Somerset Capital is exploring a sale in a deal that would provide a windfall to business secretary Jacob Rees-Mogg, who co-founded the boutique fund manager. Three people familiar with the situation said talks to sell the firm, which manages about $ 5bn, were being held as chief executive Dominic Johnson prepares to step down ahead …

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Will the BoE hike by 0.75% as dollar crushes pound after US rate rise?

Dollar crushes the pound and euro after the Fed pushes ahead with another 0.75% interest rate hike but will the Bank of England follow suit today? By Lucy White and John-paul Ford Rojas For The Daily Mail Published: 4:50 pm EDT, September 21, 2022 | Updated: 4:10 am EDT, September 22, 2022 America’s central bank …

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Meta and Google cut staff via quiet layoffs • The Register

Forget quiet quitting. Meta and Google have learned the art of the quiet layoff: telling staff to pick new roles after reorganizing or disbanding teams, and running out the clock on the reapplication process until some are left with no job. It’s still essentially a layoff, albeit small, and it’s less likely to draw attention …

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