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Sky News
Chancellor’s ‘Britain needs you’ plea to the retired may be a tall order
Jeremy Hunt became chancellor because he was the most sensible candidate left standing in the wake of Liz Truss’s catastrophic mini-budget.Four months on, he’s earned praise for balancing the books but still had a blank space to fill in when it comes to growth – a crucial plank of economic policy in danger of becoming …
Business
Sky News
One of the world’s richest men loses ground after £39bn stock market slump
Shares in listed companies controlled by one of the world’s richest men have lost $48bn (£39bn) in market value over three days following a report by a short seller that claimed he was behind the “largest con in corporate history”.Shares of Gautam Adani’s flagship Adani Enterprises sank by 20% on Friday alone in the wake …
Business
Sky News
Shapps demands decade-long steel jobs guarantee as part of £600m aid plan
Britain’s two biggest steelmakers would be required to guarantee thousands of jobs for a decade in return for £600m of government support to help decarbonise the industry.Sky News has learnt that Grant Shapps, the business secretary, has told Tata Steel and British Steel that they must safeguard UK-based jobs for ten years if they are …
Business
Business Live
Superdry downgrades profits amid wholesale shipping delays
Superdry has downgraded profit forecasts for this year to break even despite a Christmas sales boost, after the fashion chain suffered a hit from shipping delays. Bosses at the Gloucestershire-headquartered clothing retailer told investors on Friday (January 27) revenues in its wholesale business slumped by more than half in the nine weeks to December 31 …
Business
Business Live
Revealed: the Sunday Times list of biggest UK taxpayers
Some of the biggest names in UK business have been included on the 2023 Sunday Times tax list which is published today. The list of the UKJ’s top 100 taxpayers includes the owners of Betfred, retail giant Frasers Group, Dunelm and Triumph Motorcycles. And as Tory cabinet member Nadhim Zahawi remains embroiled in controversy over …
Business
Business Live
US metal recovery company sets up base in Newry with promise of ‘multiple’ jobs
A US metal trading company has set up a new base in Newry and pledged to bring “multiple” jobs to the County Down town. Techemet has bought two 5,000 square feet units in the Carnbane Industrial Estate for £2.1 million through real estate agency Bradley NI. Based in Pasadena, Texas, Techemet recovers and recycles high …
Business
Business Live
From electric planes to unmanned drones, what does the future hold for air travel?
It’s not been an easy few years for the aviation industry. First the pandemic grounded planes, then there were sweeping cuts to the sector’s global workforce, and now surging inflation and supply chain issues caused by the war in Ukraine are posing new challenges. Despite difficulties facing the industry, there is still plenty going on …
Business
Business Live
Welsh distillery sees sales surge 400% after Hairy Bikers TV appearance
A distillery in west Wales has seen sales surge after appearing on TV chefs the Hairy Bikers new show earlier this month. In the Welsh Wind, based in Ceredigion, said sales of its spirits and Welsh Cask Vinegar has increased 400% after it appeared on the Hairy Bikers Go Local television series. Traffic to the …
Business
Sky News
Warning of ‘significant job losses’ at Asda as it faces potential strikes over ‘efficiency’ plans
Asda is facing the prospect of strike action unless it makes significant concessions on its self-styled “efficiency” plans that have placed thousands of jobs at risk, a union source has told Sky News.GMB representatives met late on Thursday – hours after Asda revealed a set of proposals that mainly involved moving away from some higher-paid …
Business
Evening Standard
Escalation of strikes by civil service union in long-running pay and jobs row
Workers at jobcentres and benefit offices are to take 20 days of strike action in an escalation of the bitter dispute over the pay, jobs and conditions of civil servants.Members of the Public and Commercial Services union (PCS) at four jobcentres in Liverpool, a Department for Work and Pensions contact centre in Stockport and a …
Business
Evening Standard
Superdry cuts profit outlook as wholesale slumps
Fashion chain Superdry has warned investors that it expects to break even for the full year after suffering a hit from shipping delays, despite enjoying a boost in sales over Christmas and Black Friday.The group said revenues in its wholesale business slumped by more than 57% in the nine weeks to December 31 due to …
Business
Evening Standard
Wholesale group Bestway takes 3.45% stake in Sainsbury’s
Costcutter and Well Pharmacy owner Bestway Group has bought a 3.45% stake in Sainsbury’s that could be worth around £193 million.The business, which said it is the seventh largest family-owned firm in the UK with a turnover of about £4.5 billion, announced it had acquired or agreed to acquire more than 80.7 million shares in …

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