6:31 am, June 8, 2023
Telegraph Media Group set for sale after row with lenders
The Daily and Sunday Telegraph and The Spectator magazine are set to be put up for sale after talks between their owners and lenders collapsed.
It came after the Barclay family, the billionaire owners of the Telegraph Media Group, denied that the business could face administration.
Lloyds Banking Group has appointed corporate finance advisory firm AlixPartners as official receivers for B.UK, the overall holding company controlled by the Barclays that owns the publications. The titles themselves aren’t entering into administration and will continue to publish.
Crackdown on firms marketing cryptoassets to be introduced
First-time investors in cryptoassets should be offered a 24-hour cooling-off period by those marketing them, according to the City regulator, which is introducing an advertising crackdown.
The Financial Conduct Authority’s new advertising rules will mean firms marketing cryptoassets to UK consumers will need to introduce a cooling-off period for first-time investors from October 8, 2023.
As part of the package of measures designed to ensure those who buy crypto understand the risks, the FCA said ‘refer a friend’ bonuses will also be banned.
Kellogg’s ditches degree requirement for most jobs
Kellogg’s has announced that having a degree will no longer be a requirement for most jobs at the company.
The cereal and snacks giant said the move was part of its drive to become a more inclusive employer by reducing barriers to a job and recognising that having a degree doesn’t always reflect the contribution someone can make.
The change was tried out with the field sales team last autumn and is being rolled out to the wider business.
Through-the-night Lords sitting on small boats law ‘disgraceful’
The government pressing ahead with parliamentary scrutiny of controversial plans to tackle the small boats crisis into the early hours of the morning has been branded ‘disgraceful’ at Westminster.
There was frustration and anger as detailed debate on the Illegal Migration Bill continued through the night in the House of Lords, adjourning at 4.16am today, as it is rare for the House to sit so late.
It will be seen as a signal of the government’s determination over the legislation that has sparked fierce opposition from peers. Labour former minister Lord Bach said it was ‘disgraceful’ and ‘disappointing’.
Labour will back British steel after Tory neglect – Starmer
The Conservatives have left the UK steel industry in a ‘cycle of crisis and bailout’, Sir Keir Starmer has said, as he promised Labour backing for the sector.
The Labour leader will visit the British Steel site in north Lincolnshire today, where he is expected to commit a Labour government to invest in the steel industry as part of its broader green plans.
‘Steel is integral to a modern economy, and my Labour government will back it, secure it and grow it, creating high-paying, productive jobs in communities all over the country for generations,’ Sir Keir said.
Olivia Colman and Stephen Fry join calls for deep sea mining moratorium
The government should support a global moratorium on deep sea mining, a group of UK television stars has said.
Olivia Colman, Jim Carter, Stephen Fry, Robert Lindsay and Joanna Lumley are urging the UK to join a growing number of governments and companies around the world calling for a halt on the industry before it can begin.
Thirty-one exploration contracts for deposits of minerals often used in renewable technologies have been issued by the International Seabed Authority, but no company is allowed to begin extracting yet. Many scientists, activists, governments and businesses fear that mining will destroy barely understood and fragile ecosystems.
Jodie Comer halts Broadway show due to breathing difficulties caused by NYC air
Jodie Comer was forced to halt a performance of Broadway show Prima Facie after experiencing breathing difficulties brought on by poor air quality in New York City.
Yesterday’s matinee performance of the one-woman play was stopped approximately 10 minutes in, with understudy Dani Arlington later set to step in.
It comes after thick smoke from Canadian wildfires poured into the US east coast and Midwest yesterday, causing hazardous levels of pollution in New York.
Australia plans legislation to ban swastikas and other Nazi symbols
Australia’s government is planning legislation to ban swastikas and other Nazi symbols due to an increase in far-right activity, attorney-general Mark Dreyfus said today.
While most Australian states already ban Nazi symbols, the federal law would go further by banning the trade in such material, Dreyfus said.
‘There’s been a rise in this kind of violent far-right activity. We think it’s time for there to be a federal law which I’ll be bringing to the Parliament next week. There’s no place in Australia for spreading of hatred and violence,’ he told Nine Network television.
Alpine’s A110 R Le Mans is a tribute to famous endurance race
Alpine is celebrating the centenary of the 24 Hours of Le Mans with a special version of its A110 R.
The A110 R Le Mans will be limited to 100 units, with all of them using a 1.8-litre turbocharged petrol engine with 300bhp. It’ll manage 0-60mph in 3.7 seconds and hit 177mph.
The exterior stands out with its white and blue livery, while a thin double line of blue and white is applied to the bonnet, roof and rear wing. 2023’s endurance race takes place this coming weekend on June 10 and 11.
Yesterday’s headlines on Car Dealer you might have missed
- £1bn High Court claim against Mercedes-Benz over diesel emissions scandal takes major step forward
- Dealership says it’s closing after month’s notice of losing Stellantis franchises
- EVs dominate list of used cars that lost the most value in May as electric cars take the top seven spots
- Volvo kills off plug-in hybrid XC40, S90 and Cross Country estates as it updates UK line-up
- Tim Slatter on the move from Ford in Britain chairman role to global post with Blue Oval
- Lookers celebrates top-performing staff with awards ceremony in Spain
- West Way wins praise for charity golf day support
- Time running out to book Car Dealer Live 2024 tickets at early bird prices
Market movements
The FTSE 100 closed 3.76 points down yesterday to end on 7,624.34. The Cac 40 was down 6.21 points at 7,202.79, the Dax was down 31.88 points at 15,960.56 but the Dow Jones was up 91.74 points at 33,665.02.
Weather outlook
This morning will see sunshine in the west but extensive cloud elsewhere, says BBC Weather. Cloud will then clear away for most, although coastal areas in the east will stay rather cloudy and it’ll be breezy in the south.
The far south-west of England will have isolated showers on Friday and they’ll become more frequent by the end of the day. Elsewhere in the UK, it’ll stay dry with a good deal of sunshine.
