Business

Revolut hits $75bn valuation, employees eligible for payouts

Revolut hits $75bn valuation, employees eligible for payouts

Revolut staff members could receive significant payouts as the UK-based financial technology company initiates a share sale, raising its valuation by two-thirds to $75 billion (£55 billion). The transaction, which sets the price per share at $1,381.06, reinforces the company's status as one of the most

"Starmer denied armoured electric Range Rover due to bomb threat concerns"

"Starmer denied armoured electric Range Rover due to bomb threat concerns"

Prime Minister Keir Starmer faces a unique challenge in transitioning to an electric vehicle (EV) – Britain’s top car manufacturer has stated that EVs cannot provide sufficient protection against explosions. JLR, the company behind Jaguar and Land Rover, confirmed that Starmer’s armored Range Rover Sentinels would need to remain

"US tariffs curb factory output as UK house prices decline – business updates"

"US tariffs curb factory output as UK house prices decline – business updates"

Factory Activity Declines Amid Trade Tensions Manufacturing output across the Asia-Pacific region contracted last month as trade measures impacted demand. Surveys of purchasing managers released today indicate a decline in production during August. In Japan, export orders fell at the steepest rate since March 2024, according to data provider S&

"Norway inks £10bn UK deal for anti-submarine warships"

"Norway inks £10bn UK deal for anti-submarine warships"

Norway Signs £10bn Deal for UK-Built Anti-Submarine Warships Norway has finalized a £10bn agreement to acquire advanced anti-submarine warships constructed in the UK, as both nations prepare for joint operations in northern Europe amid rising Russian military activity. The Ministry of Defence (MoD) stated that the contract for Type 26

"Trump's legal battle challenges Federal Reserve authority"

"Trump's legal battle challenges Federal Reserve authority"

Legal Dispute Over Fed Governor’s Dismissal Reaches Critical Stage A pivotal legal challenge over the dismissal of a Federal Reserve governor unfolds today as Lisa Cook seeks to halt the president’s unprecedented move to remove her from office. Cook filed a lawsuit on Thursday, arguing the president’s

British sportswear firm Castore acquires heritage fashion label Belstaff

British sportswear firm Castore acquires heritage fashion label Belstaff

Belstaff Acquired by Sportswear Group Castore from Ineos Belstaff, the British fashion label recognized for its classic motorcycle apparel, has been purchased by the sportswear company Castore from billionaire Sir Jim Ratcliffe’s Ineos. The specifics of the deal remain undisclosed, though Ineos will provide a "substantial strategic investment&

Drax faces probe into origins of its 'green' energy claims

Drax faces probe into origins of its 'green' energy claims

The energy company Drax has announced it is being investigated by the financial regulator over past statements regarding its procurement of wood pellets for its biomass power plant. The Financial Conduct Authority (FCA) confirmed the inquiry on Thursday, which will review a more than two-year period from January 2022 to