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15.03.2023 - 09:18
Business
Evening Standard
Zara parent firm Inditex posts jump in profit as shoppers return to stores
Zara owner Inditex has revealed record earnings as shoppers flooded back to stores despite the rising cost of living.The world’s largest fashion group revealed that earnings increased by a fifth to 8.6 billion euros (£7.6 billion) in 2022 compared with the previous year.The group, which also owns the Pull & Bear and Bershka brands, said …
15.03.2023 - 09:18
Business
Evening Standard
How will the latest rail strikes affect each train operator?
Train services are being hit by strike action again.Members of the Rail, Maritime and Transport union (RMT) at train operators will walk out in a long-running dispute over pay, jobs and conditions on Thursday and Saturday.Many operators will only run trains for limited hours on those days.Those not involved in the dispute will see no …
15.03.2023 - 09:02
Business
Evening Standard
Trainline reveals rail strike sales hit of up to £6m a day
Online rail ticketing business Trainline has said annual ticket sales fell short of expectations, as rail strikes left it nursing a hit of up to £6 million a day.The group said ongoing industrial action on UK railways cost it £5 million to £6 million in gross sales impact on average per strike day.It said overall …
15.03.2023 - 06:47
Business
Sky News
The key budget announcements from the chancellor
The chancellor has announced the budget for 2023.The UK will now not enter a technical recession this year, the independent forecasters, the Office for Budget Responsibility (OBR) has said. Inflation will more than halve and reduce to 2.9% by the end of the year, the OBR expects.Here are the key points: • As expected, the …
15.03.2023 - 06:47
Business
Sky News
Pints, child support and pensions: The Budget 2023 at a glance
The chancellor has announced the budget for 2023.The UK will now not enter a technical recession this year, say independent forecasters the Office for Budget Responsibility (OBR). Inflation will more than halve and reduce to 2.9% by the end of the year, the OBR expects.Budget:The announcements – as they happenedThe Chancellor’s challenge – analysis Here …
14.03.2023 - 16:20
Business
Sky News
How Silicon Valley Bank chaos has had a bearing on us all – and why we’re in for a bumpy few months
Tempting as it is to believe that the chaos with Silicon Valley Bank and its British arm are of interest only to members of the tech community and financial nerds, it has already had a very real bearing on all our lives.For evidence, look no further than the money markets, where investors bet on the …
14.03.2023 - 13:52
Business
Sky News
Facebook and Instagram owner Meta to lay off another 10,000 staff
Meta, the owner of Facebook and Instagram, is axing another 10,000 jobs to cut costs.The company said on Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May. “We expect to reduce our team size by …
14.03.2023 - 12:02
Business
Sky News
Banking stocks, job vacancies and geothermal power
Ian King has the latest on the markets’ reaction to the collapse of Silicon Valley Bank, and government statistics for unemployment and vacancies.Plus, John Carroll at Santander is discussing how international trade is helping UK firms; Jason Cheng from private equity firm Kerogen Capital talks about geothermal power; Rachel Barton from Accenture has the latest …
14.03.2023 - 11:38
Business
Sky News
Asda deal for Co-op petrol stations could lead to higher prices or less choice, CMA warns
Asda has been told to fix 13 areas of concern in its plan to buy Co-op petrol stations over fears the deal could lead to higher prices or less choice. The Competition and Markets Authority (CMA) has given Asda five days to remedy the issues identified or risk a more in depth investigation of the …
14.03.2023 - 10:34
Business
Business Live
Chancellor urged to make Humber the flag bearer for Net Zero decarbonisation
Leading figures in the Humber have written to the Chancellor and the Secretary of State for Energy and Net Zero, urging them to back major decarbonisation projects in the Budget. They describe the region as at the vanguard of delivering on the UK’s carbon capture and storage ambition, in the open letter to Jeremy Hunt …
14.03.2023 - 10:32
Business
Business Live
Pennon completes South West Water and Bristol Water merger and is ‘on track’ with financial expectations
Utilities group Pennon has said it is “on track” to deliver financial results in line with bosses’ expectations after completing the merger of South West Water with Bristol Water. In a trading update on Tuesday (March 14), the Exeter-based company told investors, following the CMA’s approval of its £425m takeover of Bristol Water last year, …
14.03.2023 - 10:11
Business
Business Live
Asda’s £600m deal to buy the Co-op’s petrol stations ‘could mean higher prices or less choice’
Asda’s £600m deal to buy the Co-op’s petrol station business could result in higher prices or less choice, the Competition and Markets Authority (CMA) was warned. The judgement comes after an official inquiry was launched into the deal in January after the transaction was completed towards the end of last year and saw 2,300 workers …
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