Business Update – 15 June 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Recession fears loom after Wall Street plunge
The S&P 500 sunk more than 20% below its record low on Monday, falling firmly into bear market territory. Experts warn a recession is likely on the horizon.
Pensions “injustice” leads to years of delay for older women
Thousands of women born in the 1950s are struggling with the cost of living due to two issues. Firstly, many were told they were ineligible for state pensions when they were. Secondly, changes made to the SPA resulted in years-long delays before reaching receiving age.
UK economy is shrinking as cost of living crisis continues
Rising energy costs and supply chain disruptions led to further shrinking of the UK economy. The figures highlight the growing risk of recession.
Government insists overriding of Northern Ireland Protocol do not break international law
Boris Johnson’s government called his government’s proposed changes “not a big deal.” The controversial bill, which has just been published, has been heavily criticised by senior EU figures.
Bitcoin plunges further
Bitcoin plummeted to its lowest level in nearly two years on Monday, after news that US inflation hit 8.6%. As stock market volatility continues, many investors have ditched riskier assets such as cryptocurrencies.
Lloyds offers staff a one-time payment to help with cost of living crisis
The payment of £1,000 will be made in August, and applies to almost all employees – only executives and senior management will be exempt.
Heathrow numbers continue to rise despite travel woes
Traveler numbers have seen an eight-fold increase over this time last year as the industry continues to recover from the Covid-19 pandemic.
Go-Ahead in talks to consider takeover
Two bidders are courting the company, which operates the Thameslink and Southern rail franchises. Go-Ahead said both conditional proposals were at an acceptable level for shareholder consideration.
Scammers take advantage of the cost of living crisis
Emails and text messages are the medium of choice for scammers trying to make a dime amidst the cost of living crisis. More than three quarters of adults in the UK say they have been the target of such scams.
Google AI chatbot exchange eerily similar to 2001: A Space Odyssey
A Google engineer has been placed on leave after claiming that the AI chatbot the company has been working on is sentient. A Google spokesperson has publicly refuted the claim.
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