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Activists call on central banks to limit investments in new fossil fuel projects
Climate groups from around the world are staging a coordinated action in the lead up to the Bank of International Settlement’s annual general meeting.
Business News
30m
Shapps signals U-turn on imposing hydrogen levy on household bills
The Energy Security Secretary said he opposed plans that would see energy bills increase to fund the development of low-carbon hydrogen.
Business News
Jeremy Hunt agrees measures with banks aimed at cooling mortgage crisis
The Chancellor summoned lenders to Downing Street on Friday.
By Sam Blewett
Business News
FTSE drops further as interest rate woes continue
The FTSE 100 moved 0.54%, or 40.16 points, lower to finish at 7,461.87.
Business News
Focus on consumer demand and pricing as Primark owner updates investors
In April, Associated British Foods reported that Primark sales jumped by 15% over the half-year to March.
Business News
Heathrow Airport security officers dispute ends with new pay deal
Strike action planned throughout the summer by more than 2,000 security officers at Heathrow has been averted after the new improved pay offer.
By Alan Jones
UK
Chancellor announces more flexibility for struggling mortgage holders
Mortgage holders allowed to switch to interest-only for six months without impacting credit score
By Matt Watts
Business News
GSK settles lawsuit over heartburn drug Zantac
Shares in the pharmaceutical giant jumped after it said an upcoming trial was cancelled but that it does not admit liability.
By Anna Wise
Business News
Italian oil major Eni buys North Sea gas producer Neptune Energy in £4bn deal
The business will be partly bought by Eni, and partly by Norway’s Var Energi, which is majority owned by Eni.
Business News
Economy ‘loses momentum again’ as private sector growth slows
The S&P Global/CIPS flash UK purchasing managers’ index fell to 52.8 in June from 54 in May.
Business News
Sunak pledges to ‘remain steadfast’ in inflation battle after rates hiked to 5%
The Government is coming under mounting pressure to control the cost-of-living crisis amid a deepening mortgage crisis.
Business News
PM and Chancellor put pressure on retailers to ease price burden on shoppers
The Bank of England on Thursday announced a shock interest rates hike to 5% as inflation remained steadfast across April and May.
By Patrick Daly
Business News
London stocks sag after shock rate hike
The FTSE 100 fell 0.76%, down 57.15 points to 7,502.03, with banks and housebuilders among the biggest fallers.
By Anna Wise
Business News
Public firmly believe Sunak is failing on his five pledges, polling suggests
More than 80% of people believe he is failing in his pledge to reduce inflation, according to a survey.
By Sam Blewett
Business News
PM says ‘I’m 100% on it’ as he seeks to assure workers over inflation
It is the 13th time in a row the rate has increased in a bid to lower inflation.
Business News
Mortgage pain needed to fight inflation, Sunak and Bank warn as rates hit 5%
Rishi Sunak said ‘we are going to get through this’ as he doubled down on his mission to halve inflation.
By Anna Wise
Business News
Supplies of Irn-Bru could be affected as drivers vote on strikes, union warns
Around a dozen drivers at the AG Barr production and distribution centre in Cumbernauld, North Lanarkshire, are being balloted.
Business News
Morrisons posts sales rise but inflation ‘disappointingly and stubbornly high’
The private equity-owned retailer reported that group like-for-like sales, excluding fuel and VAT, were up 1% over the 13 weeks to April 30.
Business News
Bank may have bowed to pressure, economists say as markets expect rise to 6%
The Bank of England’s Monetary Policy Committee raised the interest rate from 4.5% to 5% on Thursday.
Business
Bank of England interest rates hit 5%
Jumbo hike of half a percentage point is the 13th consecutive rise, cost of borrowing to its highest since 2008
Business News
Amazon takeover rumours spark spike in Ocado shares
A report in The Times said the online grocer may be in the crosshairs of more than one US suitor.
Business News
Watchdog blocks merger of hearing implant firms ‘to protect patients and NHS’
The Competition and Markets Authority said the full merger of Cochlear and Oticon Medical ‘could reduce innovation and quality’.
Business
Bank of England mulls interest rate ‘jumbo hike’ amid inflation spiral
With inflation stuck at 8.7%, economists said a jump straight to 5% interest rates might be needed
Business News
Ousted Vodafone boss picks up more than £4m in pay and bonuses in 2022-23
The mobile phone giant’s annual report shows that Nick Read landed the bumper pay package despite leaving at the end of last year amid poor results.
Business News
Sunak feels ‘deep moral responsibility’ to keep his inflation-cutting pledge
The Prime Minister will look to reassure workers about the pressures being caused by rising prices during an event on Thursday.
By Patrick Daly
Business News
Calls for cigarette-style health warnings for ultra-processed foods
Concerns were raised in Parliament about the health impact of such products.
Business News
Hot UK inflation reading drags on FTSE 100 and sterling
London’s top index moved 0.13%, or 10.13 points, lower to finish at 7,559.18.
Business News
Bank of England set to raise interest rates again as high inflation sticks
Economists agree that the Bank is likely to raise interest rates on Thursday, and that more hikes are on the horizon.
By Anna Wise
Business News
Fashion designer Christopher Kane files to appoint administrators
The retail brand was founded by Christopher Kane and his sister Tammy Kane in 2006.
Business
Why is the UK’s inflation rate higher than other wealthy countries?
The UK’s 8.7% CPI figure in March compares with 6.1% in the eurozone and 4% in the US
Business News
Worse-than-expected inflation figures spark economic concerns
Downing Street insisted that the Prime Minister’s plan to halve inflation was still on track, despite the setback
Business
Mortgage mayhem as 143 more deals pulled but worst may still be coming
More lenders may withdraw their deals by the end of the day
Business
UK inflation stuck at 8.7% in another cost-of-living shock
The higher-than-expected figure likely means more interest rate rises
Business News
THG boss Matt Moulding gives up ‘golden share’ status
The move comes almost two years after he first promised to make the change.
Business News
Bank may need to spark recession to control inflation, economist says
Inflation remained unchanged at 8.7% in May, the Office for National Statistics revealed on Wednesday.
Business News
Sunak defends inflation reduction plans amid ‘mortgage catastrophe’ warning
Labour leader Sir Keir Starmer said homeowners faced paying £2,900 extra a year on repayments.
Business News
Average UK household ‘paying £1,045 a year more for food than in 2020/21’
The UK has seen food prices rise at the fastest rate of any G7 country, analysis suggests.