Railway strikes in the UK have halted services throughout July and Augst 2022.
Sony, owners and creators of the gaming sensation PlayStation, have been hit with a lawsuit with a possible £5 billion pay out.
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The UK government has once again extended its trade sanctions with Russia.
The UK underwent a record-breaking heatwave in July with another hitting the country in August.
The UK has blocked a Chinese company from purchasing intellectual property from the University of Manchester using its powers under the National Security and Investment Act.
Judges at one of the EU’s leading courts quashed an order by the European Commission (EC) for Apple to repay over €14.3bn in taxes to Ireland. The ruling stated that the EC had failed to achieve the ‘necessary legal standard’ when claiming that Apple had received an illegal and selective economic advantage from Irelands’ Revenue Authority.
The Wirecard incident is one of Europe’s biggest accounting fraud scandals. It shook confidence in corporate Germany as Wirecard was forced to file for insolvency last month after admitting that €1.9bn of its cash probably did not exist. This has triggered a criminal probe into the group’s former executives as well as an EU investigation into BaFin, Germany’s financial regulator.
The national security law is a new piece of Beijing backed legislation that allows for the extradition of Hong Kong citizens to the Chinese mainland. It leaves some of the world’s largest businesses facing an unenviable choice: between losing out on the island’s unique financial possibilities and tacitly supporting an expansionist government.
In recent years, online retailers such as ‘Missguided’ and ‘PrettyLittleThing’ can provide you with ‘wear once and throw away’ goods. They are cheap, cheerful and can be delivered to your doorstep within 24 hours of ordering. Yet, despite their benefits, cheaper on-trend garments come with consequences to those who are producing the goods.
Within the coming days, Ethiopia is to fill the $4.8bn Grand Ethiopian Renaissance Dam (GERDP), which is set to become the largest on the continent. The ambitious reservoir has been deemed controversial by other nations, who view the mega-dam as a violation of historical water rights within the region.
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In the wake of the coronavirus pandemic, oil companies around the world have been buffeted by decreased demand and mounting debt. As OPEC forecasts a 6.4 million barrel per day downtick in the global demand for oil, the route out of the crisis for oil producers appears to be a treacherous one.
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Gazprom have stated that they will sue Germany over the decision not to exempt their gas pipeline from EU competition standards under the EU Third Energy Package. The EU package prohibits energy monopolies and the supplier of gas from also owning the pipeline. This is intended to improve the functioning of the internal energy market and resolve certain structural problems.
