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The Latest Breaking News from EY

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 Guardian - 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.

The Independent UK

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

Birmingham Post

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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

Chronicle Live

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

Manchester Evening News

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

The Guardian - UK

Recession to be worse than previously thought, experts say

EY said that while the recession might cut deeper than it thought earlier, it will not necessarily last longer than the previous forecast.

The Independent UK

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Britishvolt: how Britain’s bright battery future fell flat

Startup that hoped to transform UK car production was once valued at more than £800m, but collapsed worth a tiny fraction of that

The Guardian - UK

$30m-plus on a transition to... what?

Questions are raised over fundamental work not done by the health transition unit

Newsroom.co.nz

Plans for £200m Britishvolt factory over as warehouse goes back on market

Prologis UK confirms it is on the hunt for new tenants for its Hams Hall site following collapse of manufacturer which would have created 150 new jobs in the West Midlands

Birmingham Post

Battery startup Britishvolt enters administration as rescue talks fail

Staff told majority of firm’s 300 employees would be immediately made redundant on Tuesday morning

The Guardian - UK

Hundreds of jobs go at electric car battery company Britishvolt as it falls into administration

It had been trying to raise the cash to keep going, but to no avail

Wales Online

Hundreds to lose jobs as electric car battery maker Britishvolt collapses

The move comes as a blow for the UK’s ambitions to gain a foothold in the global EV battery market

Evening Standard

Survey: The US economy has a 64% chance of entering a recession this year

More likely than not, the U.S. economy will enter a recession this year, Bankrate’s Fourth-Quarter Economic Indicator poll found.

Tribune News Service

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Insider UK

Wolseley acquires Glasgow-based Kooltech

Deal will see the company retain its name and sign a 10-year lease at its headquarters

Fortune

Why the environmentalist critics of data centers are wrong

There is no path to lower carbon output that doesn’t depend heavily on adding more information technology to our infrastructure, writes EY's blockchain leader Paul Brody.

Birmingham Post

EY to establish fintech research and technology hub in Bristol

The aim of the hub is to help "ramp up" capabilities in financial services design, data analytics and engineering

Los Angeles Times

A 32-hour workweek with 40-hour pay? It's happening at some companies

Video game makers in Kentucky are cranking four days a week on a new title based on the classic slasher movie "The Texas Chainsaw Massacre."

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Evening Standard

On The Breadline: Generosity of readers swells our appeal by £100,000 in four weeks

Donations take our total raised to more than £3.6 million

Investors Business Daily

IPO Market Hit Turbulent Times In '22 Due To Wave Of Troubles

IPOs plunged in 2022 for many reasons, including rising inflation and interest rates, along with recession fears as well as geopolitical volatility.

Fortune

Crypto is riddled with accounting scandals. Could the Big Four solve that?

Few crypto companies rely on the services of major accounting firms. Maybe that should change.

Insider UK

Scottish eco-packaging pioneer named country's top entrepreneur

EY awards name Glasgow-based businessman its 2022 UK Transformational Leader

Fortune

Companies are pouring millions into the metaverse workplace. Here's what you should know before joining them

There’s a place for the metaverse in return-to-office plans. Just don’t expect it to solve real-world workplace issues like harassment, racism, and sexism.

Fortune

90% of tech companies are prioritizing remote work for this reason

While the debate over working from home rages on, a recession may force employers' hands.

Fortune

Tech’s latest gold rush is selling influencers the tools they need to influence you

Providing social media influencers with tech tools and services is a hot industry. Can it survive the cooling economy?

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People

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