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Former owners of UK’s biggest microchip firm Newport Wafer Fab poised to reacquire the plant
The UK Government’s decision to block the acquisition of the UK’s biggest microchip plant on national security grounds paves the way for its former owners to reacquire the business. With investment they would aim to triple production capacity at the Newport-based fab with a focus on silicon carbide chips needed for electric vehicles. After a …
Business
Sky News
Royal Mail seeks to reduce letter deliveries as strikes plunge parent firm to first half loss
Royal Mail is seeking to reduce its commitment to letter deliveries as an estimated £70m impact from strike action is blamed for plunging its parent firm into the red.International Distributions Services, which includes its GLS global delivery division, reported pre-tax losses of £127m for the 26 weeks to 25 September. That compared to profits of …
Business
Sky News
Key announcements from chancellor’s autumn statement at a glance
Here are all the main announcements from Chancellor Jeremy Hunt’s autumn statement to MPs: • Energy bill aid for households extended beyond April for a further year through energy price guarantee, but average annual bill will be £3,000 from current £2,500. Amounts to around £500 support for households.• Additional cost of living payments next year …
Business
Sky News
Energy bills help and other key announcements from chancellor’s autumn statement at a glance
Here are all the main announcements from Chancellor Jeremy Hunt’s autumn statement to MPs: • Energy bill aid for households extended beyond April for a further year through energy price guarantee, but average annual bill will be £3,000 from current £2,500. Amounts to around £500 support for households.• Additional cost of living payments next year …
Business
Evening Standard
Chancellor vows tax hikes and spending cuts needed to ‘face economic storm’
Chancellor Jeremy Hunt will promise a plan to weather an economic “storm” as he risks a backlash by unveiling a £54 billion package of tax hikes and spending cuts.He will insist to MPs on Thursday that his autumn statement puts the UK on a “balanced path to stability” as he tackles the “enemy” of inflation, …
Business
Evening Standard
Shapps blocks sale of British microchip manufacturer to Chinese-owned firm
Business Secretary Grant Shapps has blocked the sale of British microchip manufacturer Newport Wafer Fab to a Chinese-owned company on national security grounds.The company is one of the UK’s largest manufacturers of semiconductors and there was concern over its reported £63 million purchase by Nexperia, a company said to be linked to the Chinese Communist …
Press Release
Pressat
Self-employed people aren’t budgeting for their upcoming tax bills
Over half of the UK’s four million self-employed people wait until their tax return is complete to budget for their upcoming payments, and a further 15% say they do not yet have enough money set aside for their next tax bill. The insights, revealed in a survey of 500 self-employed people in the UK for …
Business
Sky News
‘500 jobs at risk’ as Chinese firm told to reduce stake in UK microchip factory over security concern
A Chinese-owned tech company has been told to sell the majority of its stake in a UK silicon chip factory due to security concerns.The government has said Nexperia must reduce its stake in Newport Wafer Fab by 86%, back to its previous holding of just 14% when it took over the firm in 2021, in …
Press Release
Pressat
Introduction of 4 wonderful model courses in Chubu
Chubu is a historic region in the heartlands of Japan, and home to many attractive tourist attractions that guests on the Golden Route would never see. Here is 4 model courses that includes great Chubu. Chubu, Kansai and Kyushu: A Road Trip Through Historic Japan This huge tour criss-crosses Japan over the course of nearly …
Business
Sky News
Diamond’s Panmure in talks about £37m takeover of finnCap
The former Barclays chief Bob Diamond’s investment vehicle is in talks about a roughly-£37m takeover of finnCap, its rival City broker.Sky News has learnt that Panmure Gordon, which Mr Diamond’s Atlas Merchant Capital has controlled since 2017, has proposed an all-cash deal worth just over 20p-per-share. The two companies have been locked in discussions for …
Business
Sky News
Hunt risks further energy bill damage if windfall tax proves punitive
As Jeremy Hunt, the chancellor, prepares to dip into the pockets of millions of taxpayers and businesses, it feels almost inevitable that the money-grabbing wheezes will include an extension of the windfall tax on oil and gas companies.The prime minister Rishi Sunak, when chancellor, slapped a 25% “temporary Energy Profits Levy” on oil and gas …
Business
Sky News
Jaguar Land Rover boss to leave business ‘for personal reasons’
The chief executive of Jaguar Land Rover (JLR) has resigned, citing “personal reasons”, just days after the automaker reported an improvement in its financial performance.Thierry Bollore, who joined the UK business from Renault in September 2020, will be replaced immediately by chief financial officer Adrian Mardell on an interim basis, the company’s Indian parent Tata …

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