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Evening Standard
UK economy unexpectedly grows in November
The UK economy unexpectedly grew in November and reduced the risk of the country entering a recession, according to official figures.The Office for National Statistics (ONS) recorded an increase of 0.1% as the services sector remained in growth despite the soaring cost of living.Experts at the ONS said the slight rise was supported by the …
Business
Sky News
World Cup helps score surprise win for economy, leaving recession in question
The economy grew by 0.1% in November, partly aided by the football World Cup, according to official figures which call into question predictions the UK is already in recession.Data from the Office for National Statistics (ONS) showed pressure on demand from the effects of high inflation, but a boost from people packing pubs and bars …
Business
Sky News
Apple boss Tim Cook asks for 40% pay cut after investor backlash
Apple chief executive Tim Cook is to take a pay cut of more than 40% after shareholders turned on the size of his awards last year.The company said he requested the move after fewer than two-thirds of Apple investors supported his pay package at the tech firm’s annual meeting in 2022. Regulatory filings on Thursday …
Business
Sky News
RMT union working with train operators ‘towards revised offer’ after more talks to end strike action
The RMT union has announced it is working with train operators “towards a revised offer” following more talks to end strike action.Following today’s negotiations with the Rail Delivery Group (RDG), the RMT said: “We have had detailed discussions and we are working jointly towards a revised offer. “Both parties have agreed to continue discussions over …
Business
Sky News
Building the next generation of fighter jets, and why business leaders are downbeat
Ian King’s guests include Arsenal chief executive Vinai Venkatesham, who speaks about celebrating football through art; Herman Claesen, from BAE Systems, has the latest on Tempest – a joint programme to build the next generation of fighter jets; Catherine Pierre, UK head of commercial banking at JP Morgan, who talks about its research into mid-sized …
Business
Sky News
Liberty Steel blames ‘unviable’ market as restructuring threatens hundreds of jobs
Liberty Steel UK has placed 440 jobs under threat through a series of actions to secure its future amid “unviable” market conditions.The company said high energy costs had combined with other uncompetitive factors such as cheap imports and it was vital its operations were “refocused”. Liberty, part of Sanjeev Gupta’s GFG Alliance, said its Newport …
Business
Business Live
Procook on target after Christmas sales boost despite dip in revenues
Business
Evening Standard
M&S hails strong Christmas sales across food and clothing arm
Retail giant Marks & Spencer has cheered strong Christmas trading as it revealed record food sales and its highest clothing and home market share for seven years.The retail bellwether reported a better-than-expected 6.3% rise in like-for-like sales across its food halls in the 13 weeks to December 31, with its largest Christmas sales of more …
Business
Evening Standard
Asos to slash office space and shut storage warehouses after sales fall
Asos plans to cut office space and close down storage warehouses after reporting a drop in UK sales.The beleaguered online retailer said it had embarked on a £300 million package of “cost mitigation measures” as it battles raging inflation and dwindling consumer demand.Office space will be “rationalised” and three storage facilities including one in the …
Business
Evening Standard
Three million ran out of prepayment meter credit last year – Citizens Advice
An estimated 3.2 million people across Britain ran out of credit on their prepayment meter last year, the equivalent of one every 10 seconds, because they could not afford to top it up, Citizens Advice said.The advisory service said it saw more people who were unable to top up their prepayment meter in 2022 than …
Business
Business Live
Green energy firm Exagen plans £350m battery energy compound in heart of the Midlands
A green energy company wants to build a £350 million battery energy storage compound in the heart of the Midlands. Exagen has put in planning for a 19 acre site which it said could hold enough green energy to power 235,000 homes for two solid hours. It said, pending approval, it would be 10 times …
Business
Evening Standard
Tesco cheers bumper Christmas sales as customers face budget squeeze
Tesco has hailed “strong” Christmas trading as it said it was boosted by investment to improve value as it sought to fend off competition from discount rivals Aldi and Lidl.Boss Ken Murphy cheered the retailer’s efforts to support shoppers “dealing with tough times this Christmas” amid the ongoing cost-of-living crisis.The chief executive warned that it …

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