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Sky News
Green energy start-up Drifts into Octopus Ventures’ grip
A start-up which uses hi-tech sailing vessels to generate clean energy at sea has floated into the grip of Octopus Ventures.Sky News understands that DRIFT Energy will announce this week that it has secured close to £5m of new backing from Octopus Ventures and Blue Action Accelerator. The funding will enable DRIFT Energy to commence …
Business
Business Live
Mining company uncovers eight massive diamonds in just six months despite falling demand
Gem Diamonds, the mining company, has reported a robust start to its financial year after discovering eight diamonds over 100 carats in the first half of 2024. The London-listed firm, which operates mines in Lesotho’s Maluti Mountains, stated that these high-carat finds have boosted its revenue to $77.9m (£60.8m), up from $71.6m (£55.9m) in the …
Business
Evening Standard
Inflation set to rise above 2% in first increase this year
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.Inflation is set to rise for the first time in 2024 this week, in new data which highlights the battle facing the …
Business
Evening Standard
Electricity ‘superhighway’ between Scotland and England to go ahead
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.Energy regulator Ofgem has approved a £3.4 billion electricity “superhighway” between Scotland and England in the biggest single investment for electricity transmission …
Business
Euro News
Life in the slow lane? Porsche buys stake in FlixBus and Greyhound
Business
Sky News
Challenger bank Oaknorth hands shareholders maiden dividend
One of Britain’s leading challenger banks has agreed to hand out its inaugural dividend after reporting a bumper profit in its last financial year.Sky News understands that Oaknorth, which is chaired by the former chairman of the City watchdog, Lord Turner, notified investors last week that it would distribute roughly $40m (£31.2m) as a special …
Business
Sky News
Britain’s biggest single grid investment for ‘electricity super highway’ approved
The biggest electricity grid investment in British history has been approved, paving the way for an electricity superhighway, the energy regulator announced. The £3.4bn project will transport energy from Scotland to Yorkshire, helping support offshore wind development and powering two million homes and businesses for an hour, regulator Ofgem said. Money blog: Heinz urged to …
Business
Evening Standard
Business rates system ‘no longer fit for purpose’ says Sainsbury’s boss
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.The boss of Sainsbury’s has said the business rates tax system is “no longer fit for purpose” and warned that current planned …
Business
Evening Standard
Grocery price inflation rises for first time since March 2023
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.Grocery price inflation has risen for the first time since March last year, figures show.Supermarket prices were 1.8% higher than a year …
Business
Sky News
£10m spent on beer on day of Euros final, figures reveal, as inflation rises – but there’s still good news
Grocery inflation has risen for the first time since March 2023, according to closely watched industry data.Prices in food shops rose by 1.8% in the four weeks to 4 August, research by Kantar Worldpanel found. It follows 17 consecutive months of easing inflation in the sector, including during the previous month when the rate dropped …
Business
Sky News
Surprise fall in unemployment rate as wage growth slows down
Wages are still rising but at a slower pace as the unemployment rate surprisingly fell, according to official figures.Pay, excluding bonuses, grew by 5.4% in the three months to June, less than the 5.8% experienced a month before, data from the Office for National Statistics (ONS) showed. Money blog: Heinz urged to bring back classic …
Business
Sky News
Threat of rioting caused nationwide drop in sales
The threat of more than 100 riots across the country led to a 10% drop in hospitality sales, an industry body has said.The expectation of further far-right violence last Wednesday, which failed to materialise after more than a week of rioting, meant many shops, pubs and restaurants closed early and town centres emptied. The impact …

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