Following early April’s extensive global media coverage on the Trump administration’s sweeping USAID budget cuts, the tangible impact for Africa has come into sharper relief in May. Entire funding streams are set to vanish in countries including Senegal, Guinea and Mauritania, while the Democratic Republic of Congo (DRC), Ethiopia, Uganda and South Africa will be hit hardest in terms of ...
Live shopping channels predated ecommerce but faded away in the age of streaming platforms as fewer people watched television. Now, though, the concept is back, thanks to the popularity of live streaming across the entertainment industry. Live streaming has permeated the ecommerce industry, with various Chinese platforms leading the way. Now, it’s taking hold in the West too, with British ...
The UK’s government bond market is increasingly exposed to the risk of sharp price swings and sudden sell-offs, the International Monetary Fund has warned, due to a growing reliance on hedge funds and foreign investors. In its annual health check of the UK economy, the IMF said the gilts market was showing signs of potential “vulnerability,” particularly as traditional long-term ...
Swedish startup Alrik has secured new investment to accelerate its mission of transforming construction logistics, raising fresh funding led by Nordic VC People Ventures and with further backing from existing investor Pi Labs. The new capital brings the company’s total raised to €7 million. Alrik is building what it describes as the global construction logistics operating system, a connected platform ...
Modern small and medium-sized enterprises (SMEs) heavily rely on cloud accounting software like Xero for their day-to-day bookkeeping, invoicing, and payroll. While these platforms offer undeniable convenience, there’s a critical, often overlooked challenge: the long-term management of attached financial documents. HMRC mandates that businesses retain financial records for six years from the end of the last company financial year they ...
Toyota is preparing to invest £40 million in its Burnaston plant in Derbyshire as part of a plan to manufacture the high-performance GR version of its Corolla hatchback — a move that could breathe new life into the factory and capitalise on favourable trade conditions between the UK and US. The expansion would see Burnaston, Toyota’s flagship UK manufacturing site, ...
McKinsey & Company has cut more than 10 per cent of its global workforce in the past 18 months, trimming headcount from over 45,000 at the end of 2023 to around 40,000 today, as the consulting giant adapts to a downturn in demand and the fallout from costly legal settlements. The New York-based firm had dramatically scaled up during the ...
Tesla’s grip on the European electric vehicle market weakened dramatically last month, with new figures showing a 49 per cent drop in sales across 32 European countries compared with April 2024 — a sharp contrast to the overall EV sector, which posted a 28 per cent year-on-year rise. According to data released by the European Automobile Manufacturers Association, Tesla sold ...
Sara Murray, the founder of electronic monitoring firm Big Technologies, has agreed to a court order not to move or sell assets worth up to £320 million, as she faces a major High Court lawsuit over alleged undisclosed links to offshore companies. The legal battle has placed Murray, 56, at the heart of a corporate governance scandal that has rocked ...
The UK housing market is enjoying its strongest spell of activity since the pandemic-era “race for space,” with estate agents reporting a surge in buyer interest and sales agreed reaching a four-year high, according to new data from property portal Zoopla. Sales activity is up 6 per cent compared with this time last year, buoyed by improved mortgage rates, better ...