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Sky News
Shop prices fall again – but how long will it last?
With large price hikes on the horizon, shoppers are being encouraged to splurge now while costs remain low.The British Retail Consortium (BRC), the trade group representing shop owners, said on Tuesday that although shop prices continued to fall in May, the drop was the slowest since February 2020, indicating that depressed costs due to the …
Business
Sky News
Biden scraps Trump-era drilling programme in Alaska’s Arctic Refuge
The Biden administration has scrapped a Donald Trump-era drilling programme by suspending oil and gas leases in Alaska’s Arctic National Wildlife refuge.Interior Secretary Deb Haaland issued the order – which comes after a temporary moratorium on oil and gas lease activities imposed by President Joe Biden on his first day of office. Mr Biden has …
Business
Sky News
BoE governor: Climate risks ‘not reflected in market prices of most financial assets’
The governor of the Bank of England has warned the risks of climate change are not reflected in the market prices of most financial assets.Andrew Bailey was speaking at the Reuters Responsible Business 2021 conference when he said physical risks, such as property damage, could lead to displacement and conflict. This could cut company profits, …
Business
Sky News
House prices soar 10.9% to seven-year high in ‘race for space’
House prices in the UK jumped by an annual 10.9% driven by shifting preferences and buyers seeking new homes in the wake of the pandemic.The data, collected by mortgage lender Nationwide, shows the largest rise in house prices in almost seven years, which hit a fresh record high at an average of £242,832. This is …
Business
Sky News
Heinz to make ketchup in UK again in £140m factory investment
US foods giant Kraft Heinz has said it will invest £140m into a processing facility on the outskirts of Wigan, calling it one of the largest investments in UK manufacturing since Brexit.The expansion of the existing Kitt Green plant, already Europe’s largest food manufacturing site, would see the firm’s ketchup, mayonnaise, and salad cream brands produced …
Business
Sky News
Heathrow opens dedicated facility for red list passengers
Heathrow has opened a dedicated terminal for passengers on direct flights from red list countries, following concerns that they were mixing with those from green and amber nations.Travellers on direct flights from red list destinations will now go through Terminal 3, although a dedicated facility for processing such travellers is eventually planned for Terminal 4. …
Business
Sky News
UK growth forecast upgraded but pandemic ‘scar’ to be worst of all G7 nations, says OECD
The UK economy will grow even faster than expected this year and next, but it is nonetheless expected to suffer the most long-term economic damage of any of the seven major industrialised nations following the pandemic, the OECD has warned.In its six-monthly Economic Outlook, its comprehensive assessment of the state of the global economy, the …
Business
Sky News
Customers are desperate to dine, but restaurants and pubs are facing a recruitment crisis
The hospitality industry is facing a recruitment crisis as it struggles to fill thousands of vacancies.Venues are finding it difficult to hire front-of-house staff and chefs as they experience a shortage of 188,000 workers, according to research by UK Hospitality. Bars, pubs, restaurants and cafes have been able to serve customers indoors in England since …
Business
Euro News
After Brexit, China has replaced Germany as the UK’s biggest trading partner
China overtook Germany to become the UK’s biggest import market as trade in goods with European Union member states plunged because of Brexit and the COVID-19 pandemic, official data show.According to Britain’s Office for National Statistics (ONS), total trade in goods with EU countries decreased by over 23 per cent between the first three months …
Business
Euro News
Italy fines Google €102 million for abuse of dominant position
Italy’s antitrust authority on Thursday slapped a €102.8 million fine on Google for the competition law charge of ‘abuse of dominant position’.The Competition and Market Authority (AGCM) said the fine was due to Google refusing to allow Enel X Italia to develop a version of its JuicePass app compatible with Android Auto.The app allows users …
Business
Sky News
Full list of updated green, amber and red countries – and the rules when you travel
People have been given more foreign holiday options with Spain’s Balearic islands, Malta and Madeira among the destinations added to the green list in the latest update to the UK’s travel traffic light system.The second of the three-weekly reviews took place amid calls from holidaymakers and the travel industry for more countries to be added …

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