Business

Elon Musk threatens to abandon Twitter takeover 

GGood morning

Germany braces for €5bn (£4.3bn) damage after Russia targeted its gas supplies with new sanctions.

Ever since the Kremlin turned off the tap on Gazprom Germania, which was placed under state control last month, the country has been forced to buy replacement gas on the market.

The current effects amount to 3.5 billion euros per year, further costs arise from the filling of the natural gas storage facility in Rehden, reported the world on Sunday.

The additional costs would be passed on to energy suppliers and customers from October in the form of a gas surcharge, the newspaper added.

5 things to start the day off right

1) More than 70 companies across the country will allow their employees to work a four-day week starting today Over 3,000 people who work for 70 companies, including the Royal Society of Biology and a Norfolk fish and chip shop, will work a shorter week without a loss of pay from today through December.

2) BT called on preventing rural folk from being stranded after major storms Ofcom wrote to BT after the chaos caused by storms Arwen and Eunice left some communities without power for days.

3) Elite City Clifford Chance Law Firm Appoints First Global Wellbeing Chief The so-called Magic Circle firm, which last month raised salaries to £125,000 for newly qualified barristers in their mid-20s, has hired Aon manager Charles Alberts for the new role.

4) Ryanair faces discrimination lawsuits after subjecting passengers to an Afrikaans test A number of South African passengers complained over the weekend that the airline made them sit a general knowledge test in Afrikaans, which is only the country’s third most spoken language.

5) Metro Bank sued over ‘magic ATMs’ A US software company has launched a High Court case against Metro Bank over allegations that the lender leaked trade secrets for its “magic money machines”.

what happened overnight

Major Asian stock markets rose this morning after Wall Street fell and a survey showed the slowdown in Chinese services activity eased in May as anti-virus controls were lifted in Shanghai and other major cities.

The Shanghai Composite Index rose 1.2 percent after business news magazine Caixin said its monthly services PMI rose to 41.4 from 36.2 in April.

Hong Kong’s Hang Seng rose 1.4 percent and Tokyo’s Nikkei 225 rose 0.7 percent.

Comes today

  • Company: No scheduled updates
  • Business: SMMT new car registrations (UNITED KINGDOM)Caixin Services PMI (China)

https://www.telegraph.co.uk/business/2022/06/06/ftse-100-markets-live-news-cost-living-4-day-week/ Elon Musk threatens to abandon Twitter takeover 

Russell Falcon

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