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UNCOVERED: 17 | History Defined

Britishvolt sold for just £8.6m after racking up losses of more than £150m

The huge scale of the company's debts before it went into administration have been revealed

Birmingham Post

‘There’s a massive opportunity for the UK’: why technical skills are crucial for inward investment

When it comes to securing international backing, workforce skills are now more important than ever for Britain – that’s why WorldSkills UK, a partnership between education, industry and UK governments, is seeking to raise standards in apprenticeships and technical education across the nation

The Guardian - UK

Deloitte CEO in thinly veiled criticism of EY after rival’s split plans thrown into chaos

Joe Ucuzoglu posts 20-minute video to Deloitte’s public website

The Guardian - UK

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Fresh clouds for Darktrace as New York hedge fund claims concerns borne out

Darktrace suffered another blow today after the New York-based investment business which earlier produced a short-seller report into the cybersecurity firm said its results failed to address its concerns.

Evening Standard

St James’s Place eyes future growth after ‘challenging backdrop’ in 2022

The FTSE 100 firm said its underlying cash had reached an all-time high and it had continued to attract new business flows despite rising inflation, geopolitical uncertainty and investment market volatility

Birmingham Post

London to see shallowest downturn of any region in 2023 says EY report

London also expected to enjoy fastest growth in UK from 2024 to 2026

Evening Standard

South West to be UK’s third-fastest growing region, EY report finds

Research from the financial services giant has forecast two South West cities will be among the UK’s top cities for employment growth between 2024-26

Birmingham Post

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China instructs state firms to phase out big four auditors

Firms urged to allow contracts with Deloitte, KPMG, EY and PwC to expire

The Guardian - UK

Darktrace hires EY to review finances after short-seller attack

Cybersecurity company defends against criticism from hedge fund Quintessential and others

The Guardian - UK

‘Quantumania’ is taking over. Here’s where we stand in the real ‘quantum realm’

A Quantumania-inspired tour of the technologies and possibilities of quantum science.

Fortune

EY resigns as auditor for consultancy MJ Hudson amid “lost trust” in management

“We have lost trust and confidence in the company’s management,” the accounting giant said

Evening Standard

The CEO contradiction: Corporate leaders are afraid of a recession but nearly 70% plan to hire more people this year

While most CEOs are preparing for a recession, they’re also hoarding talent. “Employees may be able to breathe a sigh of relief,” says Dana Peterson, the Conference Board’s chief economist.

Fortune

EY: 97% of CEOs have changed their investment strategy in response to geopolitical challenges–and almost a third already halted a project

Restrictive policies have supplanted COVID-19-related issues as the key reason for altering international investment plans, according to EY's research.

Fortune

Aussie firm lands Britishvolt after nod from Ian Botham

AN Australian start-up company today emerged as the preferred bidder for what is left of the collapsed electric vehicle firm Britshvolt.

Evening Standard

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Birmingham Post

Britishvolt is sold to Australian firm Recharge Industries after going into administration

The Australian startup will now bid to revive the plans which would have brought thousands of jobs to Northumberland

Chronicle Live

Northumberland jobs hope as Britishvolt sold to Australian firm

Recharge Industries said it "can't wait to get started" on the project after Britishvolt went into administration

The Guardian - UK

Private equity firm in talks to buy collapsed startup Britishvolt

Greybull Capital considering bid as administrators at EY try to push through sale of gigafactory project

Birmingham Post

Founder of Britishvolt to bid for collapsed battery startup, reports claim

Former CEO and founder Orral Nadjari left last year but is said to be interested in the firm's battery technology

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Birmingham Post

North East deals of the week: key contracts, investments and acquisitions

Companies featuring in this week's round-up include onHand, Media Borne, NBS, and Northumberland Restaurant Company

The Guardian - UK

Britishvolt ‘collapsed owing £120m’ as UK car industry reports dismal year

Several bids are understood to have been made for assets of failed electric vehicle battery startup

The Independent UK

Ministers will look ‘seriously’ at any credible Britishvolt takeover bids

Britishvolt collapsed into administration a week ago, making the majority of its roughly 300 workers redundant.

Birmingham Post

Australian startup tables bid for Britishvolt to revive £3.8bn gigafactory ambitions

Recharge Industries is reported to be up against competition from 12 other bidders for the collapsed electric battery business

Chronicle Live

Britishvolt: Australian startup tables bid for collapsed North East battery business

The founder of Recharge Industries is reported to be visiting the Blyth site and meeting Government officials

Manchester Evening News

Experts suggest recession could be much worse than previously thought

An updated forecast predicts the recession could be cut deeper but will not last as long as previously thought

The Guardian - UK

Impending UK recession could be twice as bad as anticipated, say analysts

Contrary to other recent economic analysis the business consultancy EY forecasts 0.7% drop in GDP this year

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