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23.02.2023 - 09:38
Business
Sky News
The supermarkets with no sales restrictions in place for salad
A number of supermarket chains have indicated they have no plans to introduce restrictions on sales of many salad items as shortages hit shelves across the UK.Market leaders Tesco, Asda, Morrisons and Aldi are major names to have confirmed this week that limits are in place for items such as tomatoes, peppers, leafy greens and …
23.02.2023 - 09:20
Business
Evening Standard
BAE Systems unveils record orders as Ukraine war bolsters military spending
Defence giant BAE Systems notched up record orders in 2022 amid an “elevated threat environment” after Russia’s invasion of Ukraine.Britain’s biggest defence firm reported its highest ever order intake of £37.1 billion for last year, which saw its order backlog jump to £58.9 billion as countries bolster their defences in response to Vladimir Putin’s invasion …
23.02.2023 - 09:12
Business
Evening Standard
Morgan Sindall CEO: Inflation may be peaking
The CEO of construction businessMorgan Sindall said price rises may be peaking, though wage increases might peak first.John Morgan discussed the wider economic environment as the business reported its 2022 results. He said inflation, and in particular labour-cost inflation, may be peaking.“There are early signs that inflation, particularly labour inflation, has plateaued and is starting …
23.02.2023 - 09:11
Business
Sky News
Energy giant Drax earnings soar, raising questions about public subsidies
A British company that burns wood to create electricity is the latest power giant to post soaring annual profits amid the energy crisis of 2022.Gas prices reached record highs as Russia gradually shut down its pipelines to Europe after they were hit with sanctions for its invasion of Ukraine, accelerating the shift away from fossil …
23.02.2023 - 09:08
Business
Business Live
£16m loss for Iceland Seafood in 2022 – but positive cash flow eyed in coming months
Iceland Seafood UK lost £16 million in 2022, accounts just published have revealed. The Grimsby-based business, which remains part of Iceland Seafood International after two aborted sales attempts, was hit by increased input costs, having been unable to pass soaring inflationary pressures on to customers. Earlier this month, chief executive Bjarni Ármannsson told how almost …
23.02.2023 - 09:00
Business
Business Live
Engineering consultancy Rendel secures permanent Birmingham base
An engineering consultancy has moved to a new permanent home in Birmingham after first setting up a base in the city in 2019. Rendel is now housed at Edmund Gardens, in Edmund Street, after previously being based in serviced offices and the relocation follows a number of significant contract wins including with HS2 and Coventry’s …
23.02.2023 - 08:31
Business
Business Live
Mining giant Anglo American takes £1.4bn impairment on North Yorkshire fertiliser project
Global mining firm Anglo American plans to spend millions more on its fertiliser mining project in North Yorkshire after extending the project’s scale. The £29bn ($35bn) revenue company said it now expects to deliver its first fertiliser product from the site near Whitby in 2027. In an update accompanying global results for the firm, Anglo …
23.02.2023 - 08:14
Business
Evening Standard
Heathrow Airport narrows losses after ‘year of recovery’
Heathrow Airport narrowed its losses sharply in 2022 amid a bounce back in travel demand, but said results were weighed on by surging cost pressures and lower passenger numbers.The group reported underlying pre-tax losses of £684 million for last year, against losses of £1.3 billion in 2021.It said no dividends were paid in 2022 and …
23.02.2023 - 08:13
Business
Evening Standard
Rolls-Royce promises more after profits rise as airlines recover
The chief executive of Rolls-Royce said it is “capable of much more” as he launched a strategic review into the company and reported a jump in profit.The engineering giant – known for its plane engines – said the airline industry had continued to recover from Covid, but it does not expect it to return to …
23.02.2023 - 08:03
Business
Evening Standard
BAE predicts further growth as countries increase defence spending
BAE Systems said it expects continued growth in 2023 and beyond as countries across the world up their defence budgets in response to Russia’s invasion of Ukraine.The defence contractor said that most countries in which it operates have either announced increases in their defence budgets or are planning to do so, because of “the elevated …
22.02.2023 - 14:51
Business
Sky News
Tesco and Aldi to ration some vegetables due to supply shortages
Tesco and Aldi are limiting how many peppers, cucumbers and tomatoes customers can buy due to supply shortages.It follows measures introduced by Morrisons and Asda on Tuesday to temporarily limit the purchase of some fruit and vegetables. An Aldi spokesperson said: “We are limiting purchases of peppers, cucumbers and tomatoes to three units per person …
22.02.2023 - 13:46
Business
Sky News
Royal Mail acknowledges policy breaches in monitoring postal worker speed and admits prioritising parcels
The head of Royal Mail has acknowledged policy breaches in monitoring postal workers’ delivery speed.The Royal Mail chief executive, Simon Thompson, reappeared before the Business, Energy and Industrial Strategy (BEIS) committee after being asked to clarify statements. Images shown at the committee on Wednesday showed a bar chart comparing individual postal workers’ stop times while …
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