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The Latest Breaking News from EY

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

Birmingham Post

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

Chronicle Live

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

The Guardian - UK

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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

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

Birmingham Post

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

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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

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

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

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news in one place.

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Birmingham Post

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

The Guardian - UK

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

Wales Online

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

Evening Standard

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

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Tribune News Service

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.

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."

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.

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