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Sky News
Profits triple to record levels at British Gas owners
Centrica, the company that owns British Gas, has reported record profits for the 2022 financial year.Operating profits of £3.3bn were recorded at the company, up from £948m in 2021, and surpassing the firm’s previous highest ever yearly profit of £2.7bn, posted in 2012. The oil and gas producer has been helped by high energy prices. …
Business
Sky News
FTSE 100 hits 8,000 points mark for first time
The UK’s top flight share index, the FTSE 100, has crossed the 8,000 points barrier for the first time.It was less than a fortnight ago that the collective market value of its 100 constituents exceeded the previous record high – seen all the way back in May 2018. The intraday record of 8,003 was achieved …
Business
Sky News
End to forced installation of energy prepayment meters is temporary, Ofgem reveals
Ofgem has revealed that the end of forced installation of controversial energy prepayment meters only extends until the end of March.The watchdog said the date, that household energy suppliers had agreed to, also included a temporary halt to remote transfers for customers currently on smart meters. The government had suggested last week that the practice …
Business
Sky News
Flybe faces permanent grounding after rescue talks with bidders stall
Flybe, the regional airline which collapsed into administration last month, is to be wound down after attempts to find a rescuer for the business were abandoned.Sky News has learnt that Interpath Advisory, the insolvency practitioner, has terminated talks with potential buyers, which were reported to have included Air France-KLM and the German carrier Lufthansa. Flybe’s …
Business
Sky News
Some cause for optimism despite fastest price rises since 1970s
The scourge of inflation has not yet been defeated but there are reasons to be hopeful.After peaking at 11.1% in October, the headline rate has dropped to 10.1%. It means that inflation has fallen for three consecutive months now. Falling wholesale energy prices and cheaper air fares have helped to bring the consumer prices index …
Business
Business Live
Profits down at Dunelm as inflation continues to bite
Profits at homewares giant Dunelm dropped by a sixth in the second half of last year, partly due to inflationary pressures. The business reported pre-tax profits of £117.4 million for the half year – down from £140.8 million a year before. That came despite its sales rising 5 per cent to £835 for the same …
Business
Evening Standard
Former Barclays boss Jes Staley gets £2.3m pay-off, fight with FCA over Epstein continues
Jes Staley, the Barclays CEO forced to stand down in the wake of investigations into his relationship with Jeffrey Epstein, got nearly £2.3m from the bank last year.Over his 12 month notice period he got £2 million in salary. There were also other benefits, such as pension and repatriation costs for moving back to the …
Business
Evening Standard
Heineken cheers 20% sales rise as Birra Moretti fuels UK surge
Heineken toasted the end of covid-19 lockdowns in 2022 as revenue grew by 21.2% to €28.7 billion (£25.4 billion), while price increases and the rise of its Birra Moretti brand also helped drive UK sales up.In the UK, net revenue was up by almost 20%, thanks to “the partial recovery of the on-trade, premiumisation and …
Business
Business Live
The three bids competing to become Wales’ first freeport
The location of Wales’ first freeport is expected to be revealed this spring. The Welsh and UK governments are currently jointly assessing the three bids put forward. The winner will benefit from £26m in seed funding from the Westminster administration, the similar funding deal secured by freeports in England and Scotland. Currently England has eight …
Business
Evening Standard
Hargreaves boss shrugs off row with founder: “I’m proud of the business”
DEPARTING Hargreaves Lansdown boss Chris Hill today served up a strong set of results that might calm the ire of co-founder Peter Hargreaves.The outspoken Brexit tycoon made a scorching attack on the strategy of HL under Hill, saying the board “indulged in completely unnecessary irrelevant programmes” that just served as a distraction.“It’s hardly surprising the …
Business
Evening Standard
Dunelm sees profits drop amid surging cost pressures
Dunelm has cheered higher sales, boosted by cost-conscious customers looking for products to help lower energy costs, but the homeware chain’s boss warned the outlook remains unpredictable.The FTSE 250 retailer, which has 179 stores, recorded 5% sales growth to £835 million in the first half to December 31.Pre-tax profit declined 16.6% to £117.4 million, due …
Business
Business Live
‘Dr Death’ life insurance ad banned for causing ‘serious and widespread offence’
An online ad featuring British serial killer Harold Shipman has been banned by the Advertising Standards Authority (ASA). The Facebook and Instagram advert for Leicester-based DeadHappy showed the former GP, dubbed ‘Dr Death’, alongside the words “Life insurance. Because you never know who your doctor might be.” Shipman killed himself in Wakefield Prison in 2004, …

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