business

UK Economy Stalls in July, Rightmove Rejects £5.6bn REA Bid, and Boohoo Write Down on US Shake-up

The Digital Artisan

Sep 11, 2024 — 1 min read

UK Economy Experiences No Growth in July

According to fresh data from the Office of National Statistics, the UK economy unexpectedly stalled in July, showing no growth over the previous month. Economists had predicted a 0.2 per cent expansion of the economy for the month. The FTSE 100 rose by 0.2 per cent in afternoon trading.

Rightmove Rejects £5.6 Billion REA Bid

This trading update includes news about several companies, including Rightmove. Business reports indicate that the property-based firm rejected a £5.6 billion bid from REA, causing a stir in business circles.

Boohoo's US Shake-up Resulting in Write Down

Among other businesses, Boohoo also features in the trading updates. The company's recent changes in its US trade policies has led to a write down on its assets there. Dunelm, GSK, Rentokil, and WH Smith are among other companies with reports and trading updates on this day.

BMW Recall Affecting Sales and Earnings

BMW's global recall of millions of cars will decrease both its sales and earnings for the financial year, the German car firm announced. The recall is due to a faulty integrated braking system that affects a range of BMW models, as well as Minis and Rolls-Royce. BMW bosses estimated that the recall could cost a 'high three-digit million (euro) amount'.

Investors Pressuring Firms for Climate Transition Plan

A group of investors, Local Authority Pension Fund Forum (LAPFF) and CCLA, have urged most of the UK's largest listed companies to provide shareholders with a vote on their climate transition plans. They argue that outlining climate-based impacts in financial statements enables shareholders to make informed investment and stewardship decisions.

UK Foreign Secretary Declares Climate Change a Fundamental Threat

Introduction In a powerful maiden speech as Foreign Secretary, David Lammy has declared that climate change poses a more fundamental threat than terrorism. Speaking at Kew Gardens, Lammy emphasized that action on climate change and the declining state of nature will be central to all Foreign Office operations. Global Initiative

Earth to Gain New Temporary 'Mini-Moon' for Over 50 Days

Introduction to Earth's New 'Mini-Moon' In a fascinating turn of events, Earth is set to gain a new cosmic companion, albeit temporarily. A small asteroid is predicted to enter Earth’s orbit on September 29, 2024, and will stay with us for approximately 50 days. This phenomenon, often referred to

Harnessing AI to Combat Ransomware Threats: Elevate Cyber Resilience with Intelligent Data Infrastructure

Introduction to Ransomware Threats In the modern digital landscape, ransomware attacks have become increasingly sophisticated, posing significant risks to organizations worldwide. These cyber threats not only compromise sensitive data but can also cripple operational capabilities, leading to substantial financial losses. The Need for Advanced Security Strategies Traditional data backup solutions,

Life on the International Space Station: Astronauts Share Their Unique Experiences

Introduction to Life on the International Space Station The International Space Station (ISS) has been a floating laboratory and habitat for astronauts since 1998. Recently, American astronauts Suni Williams and Butch Wilmore have extended their stay on the ISS, now calling it their 'happy place.' But what is it