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Hilton Metropole owner to end long-term stay with £500m sale
The owner of one of London’s biggest hotels is ending a six-year stay by putting it up for sale with a price tag expected to reach more than £500m.Sky News has learnt that Henderson Park, a real estate investor, is close to hiring advisers for the sale of the Hilton London Metropole hotel near Paddington. …
Business
Sky News
Food shortages could last a month, says minister, insisting system ‘remains resilient’
The food system “remains resilient” the environment secretary has said, as she conceded fruit and vegetable shortages will likely continue for another two to four weeks.Responding to an urgent question in the Commons as the crisis leaves supermarket shelves bare, Therese Coffey said: “I am led to believe by my officials after discussion with industry …
Business
Business Live
Over 150 workers at Jaguar Land Rover’s Halewood factory to strike over job cuts and pay dispute
Over 150 workers at Jaguar Land Rover’s Halewood factory are to strike in a dispute over job cuts and pay. The Unite members are employed by IAC and make dashboards at the JLR site. IAC is planning to cut 87 roles, remove shift premiums and reduce working hours for remaining staff. READ MORE: Click here …
Business
Business Live
Devon defence jobs secured after British Army vehicle contract win
Devon-based engineering firm Supacat has landed a major contract to manufacture potentially hundreds of combat vehicles for the British Army. The company will collaborate with defence giant Babcock on the project to deliver at least 70 light armoured, high mobility transporters from its HMT 400 series, known by The Army as ‘The Jackal’. Supacat said …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …

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