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Russian oligarchs with links to Kremlin face UK ban under new sanctions
Russian oligarchs with links to the Kremlin can now be banned from the UK, the government has announced as part of a fresh sanctions package on the third anniversary of Vladimir Putin’s invasion of Ukraine.The Home Office said “elites” linked to the Russian state can now be prevented from entering the UK under the new …
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Coca-Cola and Fifa reach agreement in time for Club World Cup
Coca-Cola, alongside German sportswear titan Adidas, had initiated legal proceedings against football’s governing body over sponsorship rights for the expanded Club World Cup. The bone of contention centred on renegotiating new contracts pursuant to the increase in participating teams to 32, as reported by City AM. However, the discord seems to have been mitigated, with …
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Sky News
Payments watchdog could be abolished in PM’s purge of regulators
Britain’s payments watchdog is expected to be abolished as part of a purge of regulators being thrashed out in Whitehall.Sky News has learnt that ministers and officials are examining whether to scrap the Payment Systems Regulator (PSR) and fold it into the Financial Conduct Authority (FCA). A decision is expected to be taken in principle …
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NIC proposes electricity bill hikes for UK households to boost network investment
The National Infrastructure Commission (NIC) has urged for increased billing and a revamp of the UK’s electricity network regulation to cater to the surging power demand. The current regulatory framework overseen by Ofgem is deemed “too complex” and deters network operators from making the necessary “proactive investments” to enhance capacity, according to the government’s independent …
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Standard Chartered shares jump as bank unveils profit, dividend hike and overhaul
Shares in Standard Chartered surged over four per cent on Friday morning following the release of its full-year results. The multinational bank announced a revamp of executive pay after missing analysts’ profit predictions for the final quarter. Pre-tax profit dropped 30 per cent to $800m (£631m) for the fourth quarter, falling short of the estimated …
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Sky News
Surprise boost for retail as food sales see biggest jump since start of pandemic
Shops were given a surprisingly big boost in January as retail sales rose by 1.7% – much more than the 0.3% rise forecast by economists.It’s the first growth since August and follows a fall of 0.6% in the key shopping month of December, according to Office for National Statistics (ONS) figures. There has not been …
Business
Sky News
Farage relinquishes majority control of Reform UK
Nigel Farage has given up sole control of Reform UK, with the party’s members now being “handed over ownership” following a vote last year, according to its chairman.The party, led by Mr Farage, was previously controlled by the Clacton MP as he held a majority of shares in the company. According to the party’s new …
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Centrica shares surge after owner of British Gas beats earnings estimates
Centrica’s shares surged nearly 10 per cent in early trading today after the British Gas owner surpassed earnings estimates and increased its dividend. The FTSE 100 energy company reported earnings before interest, taxation, depreciation and amortisation (EBITDA) of £2.3bn for the year ending 31 December, as reported by City AM. Although this was a decrease …
Business
Sky News
Redundancies, poor results and fan fury: A look at Manchester United’s difficult year
What happens when you put a boyhood fan in charge of their club?They discover it’s not so simple to run after all. And the fans you sat with many years ago are as impatient as ever. Anger reverberates exactly a year since Sir Jim Ratcliffe and his INEOS organisation gained day-to-day control of football operations …
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Sky News
200 jobs lost as Quiz Clothing calls in administrators
Hundreds more high street jobs will be lost this week after Quiz Clothing, the troubled fashion retailer, called in administrators.Sky News understands that the company, which was listed until recently on the London Stock Exchange, will see the closure of 23 of its shops, with about 200 employees expected to be made redundant. Quiz, which …
Business
Sky News
Melrose founders target $2bn bid for US industrial group ECI
The industrial veterans who turned Melrose Industries into one of Britain’s most prominent public companies are targeting a $2bn (£1.59bn) takeover of a US-based manufacturer of wire harnesses.Sky News has learnt that Rosebank Industries, which floated on the London stock market last summer, has identified Electrical Components International (ECI) as its first major acquisition. Talks …
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Business Live
UK inflation rate hits 3% in January, sparking concerns at the Bank of England
The latest official statistics signal a sharper than anticipated uptick in inflation at the commencement of the year, as worries over sustained price pressures mount. The headline inflation figure rose to 3.0 per cent in January, reported the Office for National Statistics (ONS), climbing from December’s 2.5 per cent and surpassing the 2.8 per cent …

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