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02.02.2023 - 09:40
Business
Sky News
Base interest rates up to 4% but Bank of England’s language on economy shifts
The Bank of England has raised UK interest rates by a further half percentage point to 4%, but gave its clearest signal yet that borrowing costs may now be nearing their peak.This was the Bank’s tenth successive interest rate increase, but in the accompanying documentation, it hinted that there is a chance it might be …
02.02.2023 - 09:36
Business
Business Live
Queens Arcade in the centre of Cardiff in property receivership
The Queens Arcade in the centre of Cardiff has been put into property receivership. The previous owner of the freehold interest in the two level retail scheme, Isle of Man based company Sapphire, is understood to have breached its banking covenant. The undisclosed bank has maintained Addington Capital as asset manager for the scheme, while …
02.02.2023 - 09:32
Business
Evening Standard
Heathrow boss John Holland-Kaye to stand down this year
Heathrow Airport boss John Holland-Kaye is to leave his role this year.The UK’s busiest airport announced that Mr Holland-Kaye, who has been chief executive for nine years, will remain in post until a successor is appointed.Mr Holland-Kaye played a key role in Heathrow securing parliamentary approval for its third runway scheme, and has been a …
02.02.2023 - 09:30
Business
Business Live
Studio Retail chief executive stands down almost a year after rescue by Mike Ashley’s Frasers Group
The chief executive of Studio Retail has stepped down almost a year after it was rescued by Mike Ashley’s Frasers Group. Paul Kendrick has left his position at the Lancashire-headquartered company, according to newly-filed documents with Companies House. Mr Kendrick took on the role permanently in March 2021, having served as CEO designate since July …
02.02.2023 - 09:28
Business
Evening Standard
Heathrow Airport boss to step down
Heathrow Airport CEO John Holland-Kaye has informed the company’s board that he will step down this year.Holland-Kaye became the boss of Britain’s largest airport in 2014 and led the airport through the Covid-19 crisis, as well as helping to develop expansion plans that included a controversial third runway. He joined Heathrow in 2009 from construction …
02.02.2023 - 09:11
Business
Business Live
Superdry chief executive ‘no plans’ to take company private – for now
The boss of fashion chain Superdry says he has no plans to take the company private “at the moment”. Julian Dunkerton, who is the founder of the Cheltenham-headquartered retail group, confirmed the news to the London Stock Exchange on Thursday (February 2). He was responding to recent reports in the press. It means under UK …
02.02.2023 - 09:06
Business
Business Live
Cranswick builds on half year momentum with ‘paticularly robust’ Christmas trading as pork performs
Pork proved a Christmas winner for Cranswick as the FTSE-listed food giant posted a “particularly robust” trading update on the vital festive run-in. The Hull-headquartered firm saw revenues accelerate in the 13 weeks to Christmas Eve, and while all four product categories were “strongly ahead of the corresponding period” it was underpinned by “strong demand …
02.02.2023 - 08:58
Business
Evening Standard
Shell profits fuel calls for increase in oil and gas windfall tax
The record profits announced by Shell have heaped pressure on Prime Minister Rishi Sunak to increase the windfall tax on oil and gas giants.Labour said Mr Sunak was “too weak” to stand up to energy firms, and the Liberal Democrats said the companies must pay more tax at a time when people were struggling to …
02.02.2023 - 08:24
Business
Evening Standard
Shell announces record profits on back of surging gas prices
Energy giant Shell made one of the biggest ever profits by a UK company last year as soaring oil and gas prices, after the Russian invasion of Ukraine, doubled its earnings to a record $39.9 billion dollars (£32.2 billion).The vast scale of the profit at the multinational, which supplies energy to 1.4 million UK households …
02.02.2023 - 06:20
Business
Sky News
Shell announces record annual profits of £32.2bn after energy price surge
Shell has announced annual profits of $39.9bn (£32.2bn), doubling from a year earlier and far exceeding the previous record of $31bn in 2008.The London-listed company also posted record fourth-quarter earnings of $9.8bn (£7.9bn). The profits – which were even higher than the $38.17bn (£30.8bn) analysts had expected – came thanks to bumper gas prices as …
02.02.2023 - 01:23
Business
Sky News
Boss of British Gas owner says there is ‘no excuse’ after prepay meters forced on vulnerable people
The boss of British Gas’s owner, Centrica, said “there is no excuse” after an investigation found the company sent debt collectors who broke into vulnerable customers’ homes to install prepayment meters.A Times investigation showed a company used by British Gas to pursue debts, Arvato Financial Solutions, forcing their way into homes to fit the devices, …
01.02.2023 - 16:47
Business
Sky News
Households cutting energy usage to avoid blackouts ‘likely how we’ll all operate in future’
The head of markets at the National Grid Electricity System Operator has told Sky News that its new energy saving scheme “is likely how we’re all going to operate in the future.”The new Demand Flexibility Service, which allows consumers to volunteer to use less electricity at times of peak demand to help avoid blackouts, has …
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