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Evening Standard
End of vaccine boost for AstraZeneca as it looks elsewhere for growth
The boost to Astrazeneca’s growth fuelled by its coronavirus vaccine is coming to an end as the firm looks to new medicines for future streams of income.The Cambridge-based business said it would see double-digit growth excluding Covid-19 medicines in 2023, but more modest single-digit growth when they are factored in.Boss Pascal Soriot said: “We plan …
Business
Sky News
Inflation-busting public sector pay rises risk stoking inflation, Bank of England governor warns
The governor of the Bank of England has told MPs that its forecasts for inflation to more than halve this year are at risk from price and wage-setting as unions continue to demand large public sector settlements.Andrew Bailey was speaking after the Bank raised its base level of interest rates to 4% from 3.5% last …
Business
Evening Standard
Unilever warns on inflation — it is not over yet
THE cost of basic foodstuffs and other kitchen staples will keep rising for at least another six months, consumer goods giant Unilever warned today.In a clear sign that the battle against inflation is not yet won, the maker of everything from Hellman’s mayonnaise to Dove soap and Domestos bleach said price increases that will exacerbate …
Business
Sky News
RMT union rejects latest pay offers
Tens of thousands of rail workers may return to picket lines after their union rejected revised pay offers to avert more walkouts.The RMT union had been deliberating over a 5% pay rise, backdated to January last year, along with a 4% hike for 2023. The offer was made by train operators and Network Rail during …
Business
Sky News
RMT union rejects latest ‘dreadful’ pay offers
Tens of thousands of rail workers may return to picket lines after their union rejected revised pay offers to avert more walkouts.The RMT union had been deliberating over a 5% pay rise, backdated to January last year, along with a 4% hike for 2023. Train operators and Network Rail called it their “best and final” …
Business
Evening Standard
Revenue at Compass heads north as office workers and sports fans return
Canteens and staff restaurants filling up with returning workers from London to Los Angeles have boosted revenue at Compass which also revealed today the benefit of the strong dollar.The world’s biggest contract caterer served up the prospect of an extra £1.3 billion in full-year revenue, helped by “foreign exchange translation”, adding around £94 million to …
Business
Evening Standard
Redrow sees 2023 remaining ‘challenging’, but flags recovery signs
Housebuilder Redrow has posted lower sales and profits for the first half after a slump in homebuyer demand, and warned the market will remain tough in 2023 despite signs of a tentative recovery.The group saw house reservations tumble and a raft of cancellations last autumn after mortgage rates soared in the wake of the mini-budget …
Business
Sky News
Consumer goods giant Unilever expects price growth throughout 2023
The company behind many popular consumer brands including Marmite and Magnum ice creams has said it expects price growth to ease later this year but not find a reverse gear.As the cost of living crisis continues to harm household spending power, Unilever forecast a €1.5bn (£1.3bn) impact from inflation during the first half of its …
Business
Sky News
Disney to axe 7,000 jobs in bid to cut costs
Around 7,000 jobs are to go at Disney – about 3.6% of the workforce – as a multi-billion dollar cost saving restructuring was announced by chief executive Bob Iger in his battle to improve the company’s finances.It was Mr Iger’s first quarterly results announcement since he retook control of the entertainment giant in late November …
Business
Sky News
Tax and benefits system ‘more progressive in Scotland than rest of UK’
The tax and benefits system in Scotland is more progressive than elsewhere in Britain, a report has said.The Institute for Fiscal Studies think tank said that, by April, the poorest 10% of Scottish households are set to have incomes £580 (4.6%) per year higher than they would under the system in England and Wales. Tax …
Business
Sky News
Microsoft’s $69bn takeover of Activision a step closer to being blocked by UK watchdog
The UK’s competition watchdog has moved a step closer to potentially blocking Microsoft’s planned $69bn (£56bn) takeover of Call of Duty gaming firm Activision.In a provisional ruling, the Competition and Markets Authority (CMA) said the proposed tie-up could lead to higher prices, fewer choices and less innovation for UK gamers. The massive deal, first announced …
Business
Sky News
TP Icap shelves Parameta sale talks despite investor pressure
TP Icap Group, the London-listed interdealer broker, has shelved talks about a sale of its data division despite coming under pressure to return more cash to investors.Sky News understands that TP Icap held discussions with a number of potential buyers – including large buyout funds – of Parameta, its high-margin data operation in recent months. …

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