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Major UK stock index closes on record high
The UK’s benchmark stock index has reached another record high.The FTSE 100 index of most valuable companies on the London Stock Exchange closed at 8,505.69, breaking the record set last May. It had already broken its intraday high at 8532.58 on Friday afternoon, meaning it reached a high not seen before during trading hours.Money blog: …
Business
Business Live
‘Digital humans’, lightsabers and ‘Airbnb for EVs’: Tech entrepreneurs take to the stage for Baltic Ventures accelerator day
Never mind Dragons’ Den – business pitching is much more fun when it’s short, snappy, and part of a party closed by an AI-powered “digital human” DJ. Tech accelerator Baltic Ventures took over Liverpool warehouse venue Camp & Furnace for this year’s Accelerator 2024 Demo Day, where entrepreneurs from 10 companies in its annual accelerator …
Business
Sky News
Bad economic news brings end to market turbulence and interest rate benefits – as more cuts expected for 2025
A week of news showing the UK economy is slowing has ironically yielded a positive for mortgage holders and the broader economy itself – borrowing is now expected to become cheaper faster this year.Traders are now pricing in three interest rate cuts in 2025, according to data from the London Stock Exchange Group. Earlier this …
Business
Sky News
Surprise fall in retail sales in crucial Christmas shopping month
There has been a surprise contraction in retail sales in December, despite the month being key for many retailers due to Christmas shopping, official figures show.Retail sales fell 0.3% last month, according to the Office for National Statistics (ONS). No drop at all was expected, not least a 0.3% drop. Sales growth of 0.4% had …
Business
Sky News
China’s economy grows by 5% but people remain worried about future job prospects
China has released a slew of economic data this morning, showing its economy grew last year by a solid 5% percent, meeting the government’s target.Other annual figures released show that total retail sales of consumer goods were up by 3.5% last year, compared to 2023. But despite these positive indicators China’s economy is still facing …
Business
Sky News
Fit for purpose? Fears over robustness of UK’s enforcement of Russia sanctions
Fears have been raised over the robustness of Britain’s trade sanctions against Russia after the main government department enforcing the rules admitted it has no idea how many cases it is investigating.HM Revenue and Customs (HMRC), which monitors and polices flows of goods in and out of the country, says it had no central record …
Business
Sky News
FCA eyes contactless limit hike after PM’s edict to watchdogs
The City watchdog is considering a formal proposal to increase Britain’s £100 contactless spending limit as part of a response to the prime minister’s order for regulators to tear down barriers to economic growth.Sky News has learnt that the Financial Conduct Authority’s response to a Christmas Eve letter from Sir Keir Starmer, chancellor Rachel Reeves …
Business
Sky News
IMF warns on impact of Trump tariffs
The International Monetary Fund (IMF) has warned against the prospects of a renewed US-led trade war, just days before Donald Trump prepares to begin his second term in the White House.The world’s lender of last resort used the latest update to its World Economic Outlook (WEO) to lay out a series of consequences for the …
Business
Sky News
Pizza Hut salvages restaurants’ future with pre-pack sale
The future of Pizza Hut’s restaurants in Britain has been salvaged after the business was sold out of insolvency proceedings to the brand’s main partner in Denmark and Sweden.Sky News can reveal that Heart With Smart (HWS), Pizza Hut’s dine-in franchise partner in the UK, was sold on Thursday to an entity controlled by investment …
Business
Sky News
Freetrade faces investor backlash over £160m IG Group sale
Freetrade, the British stock-trading app, is facing a backlash from early investors after announcing a sale to London-listed IG Group for a fraction of the valuation it targeted during earlier fundraising talks.Sky News has spoken to a number of Freetrade shareholders who reacted with dismay on Thursday to the £160m sale of the company. The …
Business
Sky News
BP to cut 4,700 jobs
BP has announced it is cutting 4,700 jobs from its global workforce.The energy giant also said it will cut 3,000 contractor roles as part of a cost-saving drive across the company. It comes as last year, BP launched a plan to reduce its costs by at least $2bn (£1.6bn) by the end of 2026 – …
Business
Sky News
Marginal gains don’t add up to elite performance when it comes to the economy
Marginal gains, the science of extracting significant athletic advantage from numerous small changes, has long been a mantra in top-class sport.Numerous British competitors, from the velodrome to the track, have the medals to prove it. When it comes to economics, and more specifically to running an economy, this week has provided a lesson that not …

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