Business
HSBC is planning to relocate its global headquarters from London’s Canary Wharf to a more central location in the City, as per reports. This decision comes as a significant setback for the Canary Wharf business district, which competes with the City as a hub for financial companies. HSBC is in search of smaller premises due to the increasing trend of remote working.
Once regarded as a trailblazer in electric pick-up trucks, Lordstown Motors has filed for bankruptcy protection. The startup, situated in a former General Motors factory in Ohio, has attributed its troubles to Foxconn. Foxconn, best known for assembling the iPhone, had a partnership with Lordstown to assist in vehicle production. Lordstown alleges that Foxconn breached the agreement, while Foxconn claims to have made efforts to resolve the dispute and accuses Lordstown of launching “malicious attacks”.
Eni, an Italy-based global energy company, has agreed to acquire Neptune Energy, headquartered in London, for $4.9 billion. This acquisition significantly expands Eni’s presence in the natural gas production sector.
2023-06-29 09:38:41
Article from www.economist.com
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