News
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Amazon to close all 19 UK Amazon Fresh stores. The move endangers around 250 jobs as the company shifts focus to online sales and expands its Whole Foods brand. A consultation with employees has been initiated, with some roles possibly redeployed.
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Google faces new trial in Virginia over digital ad monopoly. The remedies phase of United States v. Google opens with prosecutors seeking a breakup of its ad exchange business and the company resisting calls for structural remedies.
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Vodafone franchisees warned of mental health impacts four years ago. A 2020 survey revealed franchisees experienced stress and anxiety after commission cuts, leading to a £120 million High Court case alleging unjust enrichment by Vodafone.
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EU aims to set 2035 emissions target before COP30 summit. The European Council has committed to establishing a 2035 emissions reduction target for the EU ahead of the COP30 climate conference, despite missing the September deadline due to unresolved disagreements among member states on key climate ambitions….
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GBG to join London Stock Exchange’s main market Thursday. GBG, an identity technology company, plans to transition from the AIM market to the main market of the London Stock Exchange. The move does not require shareholder approval and aligns with trading expectations….
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Nvidia will invest $100 billion in OpenAI. The two companies announced a letter of intent for Nvidia to provide hardware and capital as OpenAI builds 10 gigawatts of AI data centres. The agreement marks a major escalation in the AI arms race, with first deployments expected in 2026.
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Zilch secures £30m loan facility, favouring debt over equity. The London fintech, based in Victoria, has agreed a £30m facility with US Bank. This follows a £100m debt facility with Deutsche Bank last year and £20m Series D funding in 2023.
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Economists propose tax shifts to boost UK revenue by £6bn. The Resolution Foundation suggests reducing national insurance and increasing income tax to raise £6bn, helping Chancellor Reeves counteract higher borrowing costs and expected growth downgrades.
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Ingka Investments partners with Vanguard Renewables to transform food waste. Ingka Group’s investment arm has made a minority investment in Vanguard Renewables, a BlackRock portfolio company, to convert food waste from IKEA stores into renewable natural gas, enhancing their sustainability efforts….
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Climate Week NYC gathers global leaders amid ongoing climate challenges. With geopolitical instability and economic uncertainty dominating headlines, the urgency of addressing climate change persists. Recent environmental disasters highlight the necessity of maintaining focus on climate action, despite other pressing global issues….