$10bn | Common News Update

May182023 by adminNo Comments

Sewage spills: Water bills set to rise to pay for £10bn upgrade

Science

FayBy Esme StallardClimate and Science Reporter, BBC NewsBills could rise after water suppliers in England said they were ready to spend £10bn on tackling sewage spills. The privately owned companies have apologised for the amount of contaminated water being discharged into rivers and seas, amid mounting public anger over the practice.Some campaigners have cautiously welcomed the move, but others say firms are shifting the cost on to billpayers.The industry paid out £1.4bn to shareholders in 2022.Musician and environmental campaigner Feargal Sharkey called it a "half apology" that was another attempt to extract more money from customers."What I am actually hearing is no apology for the fact we have paid them for a service we haven't got, they are now suggesting we pay them a second time fo...

Mar282021 by adminNo Comments

Used-car ‘unicorns’ Cinch and Cazoo in £10bn race to reshape industry

Business

Britain's two fastest-growing online used-car marketplaces are racing to raise staggering sums of capital as they seek to reshape an industry boasting €400bn (£343bn) in annual sales across Europe.Sky News can reveal that Cinch, which is part of the private equity-backed Constellation Automotive Group, is in talks with a syndicate of global blue-chip institutions to raise approximately £500m of new funding. The discussions, which are said to be at an advanced stage, could value Cinch on a standalone basis at more than £5bn, according to analysts and bankers.That would be a stellar result for a business which launched just five months ago, but which has shown what insiders describe as "exponential growth" to turn it into a leader in the market.Constellation, which was then called BCA Market...

Nov252020 by adminNo Comments

Covid: PPE price rises cost taxpayers £10bn, report says

Health

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Mar142020 by adminNo Comments

Pentagon to reconsider Jedi $10bn cloud contract

Technology

The US Department of Defense is to "reconsider" its decision to award a multi-billion dollar cloud contract to Microsoft over Amazon.It comes in response to a court case brought by Amazon Web Services (AWS), claiming the decision was politically motivated.President Trump had previously expressed concern about Amazon's bid.In a court filing, the Pentagon said the U-turn was "in response to.... technical challenges presented by AWS".Microsoft said it "remained confident" its bid was "technologically superior".In a statement, it said: "We believe the Department of Defense made the correct decision when they awarded the contract. "However, we support their decision to reconsider a small number of factors as it is likely the fastest w...

Feb182020 by adminNo Comments

Amazon founder commits $10bn to fight climate change

Technology

Amazon founder and chief executive Jeff Bezos has pledged $ 10bn (£7.7bn) of his personal wealth to fighting climate change.Mr Bezos, who is one of the world's richest people with an Amazon stake worth $ 100bn alone, told followers on Instagram a new Bezos Earth Fund would start to distribute cash within months. He said he plans to begin awarding grants this summer to scientists, activists and non-profit organisations.The billionaire said in a post on Instagram: "Climate change is the biggest threat to our planet. "I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share." ...