Author: Websupport

REVOLUT MAY BE VALUED OVER $40 BILLION – The digital finance app is working with bankers on a $500 million share sale Financial technology firm Revolut could be valued at north of $40 billion in a share sale, even as it still awaits a UK banking licence, according to people familiar with the situation. The digital finance app is working with bankers on a $500m share sale, including shares held by employees, which could value it at more than $40 billion,it is being reported. That level would exceed the $33 billion valuation Revolut achieved in a 2021 fundraising. The firm…

INCREDIBLY ANGRY ABOUT ELECTION BETTING ALLEGATIONS Prime Minister responds to election date betting scandal Prime Minister Rishi Sunak said on Thursday (June 20) during a televised debate that he was “incredibly angry” to hear that three of his party colleagues were being investigated over allegedly placing bets on an early announcement of the general election, adding that anyone found to have broken the rules would be “booted out” of the party. On another chaotic day for the governing Conservatives, the party’s campaign director took a leave of absence, linked to an investigation around bets being placed on the timing of…

ENGLAND DRAW 1-1 WITH DENMARK – Harry Kane’s opener cancelled out by Morten Hjulmand England produced an alarmingly poor performance as they struggled to a 1-1 draw with Denmark and missed the chance to book their place in the knockouts at Euro 2024. After Slovenia and Serbia had drawn earlier in the day, England kicked off knowing victory over the Danes would confirm them as pool winners – and they looked on course for the last 16 when Harry Kane converted from close range after a rapid Kyle Walker picked the pocket of a sleeping Victor Kristiansen. However, England were…

SOUTH KOREA SUMMONS RUSSIAN AMBASSADOR OVER PACT WITH NORTH KOREA Condemned the treaty as a serious threat to regional peace and stability South Korea’s foreign ministry summoned the Russian ambassador on Friday (June 21) in protest of a pact between Russia and North Korea signed in Pyongyang this week. First Vice Foreign Minister Kim Hong-kyun conveyed Seoul’s stance on the pact and military cooperation between Russia and North Korea to Georgy Zinoviev, the top Russian envoy to Seoul, Seoul’s foreign ministry said. South Korea’s foreign minister Cho Tae-yul and U.S. Secretary of State Antony Blinken also have condemned the treaty…

EU HAS SOLUTION TO USE FROZEN RUSSIAN FUNDS FOR UKRAINE The EU’s  Borrell – We have a legal procedure to avoid any blockage EU foreign policy chief Josep Borrell said on Monday (June 24) he would put forward a proposal on how to avoid any member state blocking the use of proceeds from frozen Russian financial funds to support Ukraine. “We have a legal procedure to avoid any blockage,” Borrell said before a meeting of EU foreign affairs ministers in Luxembourg. He also said the war in the Middle East risked expanding. Iran-backed Hezbollah began attacking Israel shortly after Hamas’…

UKRAINE INCHES CLOSER TO EU ‘DREAM’ AFTER A DECADE OF WAR Ukraine is returning to Europe, where it has belonged for centuries says Zelenskiy A veteran of Ukraine’s 2014 revolution now fighting Russian invaders, Yehor Sobolev knows the price of Kyiv’s decade-long drive to join the European Union as well as anyone. Having backed key reforms as a lawmaker after that pro-democracy uprising, he says he will look on proudly from the front as Brussels opens formal accession talks with Kyiv on Tuesday (June 25). The launch of talks, though largely ceremonial, is an important step for a nation that…

TATA WORKERS IN WALES TO HOLD AN INDEFINITE STRIKE ON 8 JULY 2,800 jobs at risk Around 1,500 workers at Tata Steel will hold an “all-out indefinite strike” next month, the UNITE union has announced. The industrial action at the company’s sites in Port Talbot and Llanwern, Newport, will begin on 8 July, Unite said. The union said the walkout would “severely impact” the company’s UK operations. It comes in response to plans to close Tata Steel’s blast furnaces in South Wales, putting 2,800 jobs at risk. The union said it would be the first time in more than 40…

SCOTLAND ELIMINATED FROM EURO 2024 – Hungary beat Scotland 1-0 to send them out of the competition Hungary snatched a 100th-minute winner to beat Scotland 1-0 and put themselves in contention for a last-16 spot at the European Championship while condemning the Scots to yet another failure at a major tournament. Kevin Csoboth’s breakaway goal with almost the last kick of the match ensured Hungary finished third in Group A with three points while Scotland, yet to reach the knockout phase of either the Euros or World Cup, ended in last place on two points. Hungary must wait to see…

NEW GETIR SHAREHOLDERS BACK BREAK-UP OF FOOD DELIVERY GROUP Getir once-valued at £10bn has withdrawn from the UK Investors in Getir, the food delivery group which is abandoning its UK operations, have approved a break-up of the company that will trigger a fresh capital injection of up to $250m (£197.5m). Getir, which is based in Turkey, held an extraordinary general meeting on Sunday at which shareholders backed plans to split it into two independent companies. The first will consist of its food and grocery delivery operations in Turkey and will be majority-owned and controlled by Mubadala, the Abu Dhabi state investment…

MAN WHO HELPED BUILD POST OFFICE HORIZON FINALLY FACING INQUIRY – After concerns he might incriminate himself The former chief IT architect for Fujitsu, the company that designed Horizon, provided evidence and reports backing up the reliability of the system in a number of Post Office prosecutions. He’s been investigated by police amid concerns his court evidence wasn’t consistent with information he may have had about problems with the system. Mr Jenkins has asked the public inquiry for immunity against incriminating himself, but it has refused to pass on his request to the attorney general. He was due to appear…