TG: Royal Mail owner agrees to £3.57bn takeover by Czech billionaire
THE GUARDIAN reports: The takeover of Royal Mail has edged closer after its owner agreed terms and conditions ...
AMZN: APPEAL UPDATEDSV: PRESSURE BUILDS AAPL: OPENAI FUNDING INTERESTCHRW: ANOTHER INSIDER CASHES INHLAG: GRI DISCLOSUREMAERSK: HOVERING AROUND FOUR-MONTH LOWSTSLA: CHINA COMPETITIONDHL: BOLT-ON DEAL TALKAMZN: NEW ZEALAND PROJECTDHL: SURCHARGE RISKKNIN: LEGAL RISKF: 'DEI' HURDLESPLD: RATING UPDATEXOM: DISPOSALS
AMZN: APPEAL UPDATEDSV: PRESSURE BUILDS AAPL: OPENAI FUNDING INTERESTCHRW: ANOTHER INSIDER CASHES INHLAG: GRI DISCLOSUREMAERSK: HOVERING AROUND FOUR-MONTH LOWSTSLA: CHINA COMPETITIONDHL: BOLT-ON DEAL TALKAMZN: NEW ZEALAND PROJECTDHL: SURCHARGE RISKKNIN: LEGAL RISKF: 'DEI' HURDLESPLD: RATING UPDATEXOM: DISPOSALS
THE GUARDIAN reports:
The British electric vans startup Arrival is cutting 800 jobs, about half its remaining workforce, to reduce costs as it seeks extra funding and plans US expansion to take advantage of green energy subsidies.
The troubled electric vehicle maker said “approximately 50%” of the company’s 1,600-strong global workforce would leave the company.
Arrival told investors that the job cuts, and other measures to trim spending, would results in a halving of its operating costs to “approximately $30m (£24m) per quarter” following a review of its operations.
The US-listed company has switched its strategy from focusing on the UK to developing a foothold in the US van market, with plans to start production in Charlotte, North Carolina, next year “subject to raising additional capital”…
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