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‘Very, very, very simple questions’ unanswered by Shein at workers rights meeting of MPs
A representative for one of the world’s biggest fast fashion retailers, Shein was unable to answer questions from MPs over where it sources its cotton from. Shein’s general counsel for Europe Middle East Africa (EMEA) Yinan Zhu was asked if the company sells products containing cotton from China, mainly the region of Xinjiang, where China …
Business
Sky News
Blow to Treasury as long-term borrowing costs highest this century
UK long-term borrowing costs have hit their highest level since 1998.The unwanted milestone for the Treasury’s coffers was reached ahead of an auction of 30-year bonds, known as gilts, this morning. The yield – the effective interest rate demanded by investors to hold UK public debt – peaked at 5.21%.At that level, it is even …
Business
Business Live
Iconic motorcycle brand Triumph hit by China economic downturn and sterling slump
Triumph, the iconic motorcycle brand, has seen its profits stall due to an economic downturn in China and a drop in sterling’s value. The Derbyshire-based company, owned by billionaire John Bloor, reported a pre-tax profit of £72.6m for the year ending 30 June 2024, a slight increase from the previous year’s £72.3m. Recent filings with …
Business
Sky News
Growing threat to finances from rising bills
There is mounting evidence that consumers are facing hikes to bills on many fronts after Next became the latest to warn of price rises ahead.The homewares to fashion retailer said it was to implement an “unwelcome” 1% rise to prices this year to help it cover an anticipated £67m rise to its wage bills. It …
Business
Sky News
Higher prices for 2025 as Christmas trading fails to meet expectations – industry says
Shop prices will rise in 2025 as the key Christmas trading period failed to meet retailers’ expectations, according to industry data.Shop sales grew just 0.4% in the so-called golden quarter, the critical three shopping months from October to December, according to the British Retail Consortium (BRC) and big four accounting company KPMG. Many retailers rely …
Business
Sky News
UK bills could rise – as Europe’s gas consumption falls by ‘unprecedented’ amount
Here’s a quiz question: how much would you say the supply of non-Russian gas to Europe (including the UK) has gone up since the invasion of Ukraine?It’s a pretty important question. After all, in the years before the invasion, Russian gas (coming in mostly through pipelines but, to a lesser extent, also on liquefied natural …
Business
Business Live
Beano publisher recovers from £161m loss after axing hundreds of jobs
DC Thomson, the group behind iconic publications such as Stylist, Press & Journal, and The Beano, has rallied to a pre-tax profit of £93.8m for the year to 31 March 2024, bouncing back from a previous £161m loss. The firm’s latest accounts lodged with Companies House reveal that despite revenue dipping from £161.4m to £153.8m …
Business
Sky News
Budget blamed as job cuts hit ‘four-year high’ and price hikes loom
Businesses shed jobs at the fastest pace since January 2021 in December, according to a closely-watched survey of activity containing the latest evidence of a budget backlash.The S&P Composite Purchasing Managers’ Index (PMI) was published just hours after a warning from the British Chambers of Commerce (BCC) that more than half of firms were planning …
Business
Sky News
Montgomery-backed Local TV swoops on Lebedev’s London Live licence
A television network majority-owned by David Montgomery, the media entrepreneur, is to snap up the licence to operate a London-focused TV station from Lord Lebedev, owner of the capital’s weekly Standard newspaper.Sky News has learnt that Local TV Ltd, which was acquired by Mr Montgomery in 2017, is close to announcing a deal to buy …
Business
Business Live
North East entrepreneurs join forces to launch new business venture
Two North East entrepreneurs have joined forces to create a new networking business that aims to bring business owners and leaders together. Paul Lancaster, founder of UK Startup Week and the monthly Platform events, has teamed up with well known tech investor Neil Stephenson to launch Stellar Business Events, a Sunderland based networking and events …
Business
Sky News
Inside Europe’s biggest vertical farm which could dramatically increase food production
Outside it is the bleak midwinter. We are smack bang in the middle of some of the country’s best agricultural land.But inside the cavernous warehouse where we’ve come, you wouldn’t have a clue about any of that: there is no daylight; it feels like it could be any time of the day, any season of …
Business
Sky News
Shawbrook aims to kickstart London IPO market with £2bn float
The owners of Shawbrook Group, the mid-sized British lender, are drawing up plans to kickstart London’s moribund listings arena with a stock market flotation, valuing it at more than £2bn.Sky News has learnt that BC Partners and Pollen Street Capital, which took Shawbrook private in 2017, are close to appointing Goldman Sachs to oversee work …

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