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Sky News
‘Major shock to the market’ as insurer Direct Line scraps dividend following flood of claims
Direct Line has seen its shares fall by a quarter after it scrapped its final dividend, blaming a flood of claims related to bad weather in the UK last month.The home and motor insurance firm said severe weather in December, which included a cold snap, had pushed it to an underwriting loss for 2022. The …
Business
Sky News
Sainsbury’s achieves ‘record’ Christmas as cost of living crisis rages
Sainsbury’s has become the latest retailer to post strong Christmas sales figures, saying it achieved a “record” festive season.The UK’s second largest supermarket group, which also includes Argos, said it now expected annual profits for the year to March towards the upper end of its previously guided range between £630m and £690m. Underlying pre-tax profits, …
Business
Sky News
UK workers await their fate as more than 3,000 jobs to go at Goldman Sachs
Up to 3,200 jobs are to go at Goldman Sachs as part of the biggest restructuring efforts at the company since the global financial crash. The US-based multinational financial services company and investment bank is embarking on a series of cost-saving measures after the deal making and market boom of the COVID-19 pandemic dried up …
Business
Sky News
‘Stop buying it at these prices’: YouTube star KSI urges fans not to pay over the odds for Prime drinks
YouTube star KSI has urged people to stop buying his popular energy drink at hugely-inflated prices after claims it was being sold for hundreds of pounds.Chaos broke out in supermarkets last month following the release of the Prime sports drinks, which some people are thought to have bought in bulk due to high demand and …
Business
Sky News
Burger chain Byron to halve in size in latest flip into insolvency
Nearly half of Byron’s restaurants are to close in the burger chain’s latest brush with insolvency.Sky News has learnt that close to ten of its 21 remaining sites will shut their doors permanently as part of a pre-pack administration engineered by Calveton, its owner. A deal could be struck with administrators at Interpath Advisory as …
Business
Sky News
Virgin Orbit shares set to crash after failure of first UK space launch
Shares in Virgin Orbit, the company behind the failed first UK space launch, are on course to fall by more than a fifth at the market open in the US.The eagerly anticipated mission, which planned to place nine satellites in orbit via the company’s LauncherOne rocket, was scuppered on Monday night when a secondary engine …
Business
Sky News
Virgin Orbit shares crash after failure of first UK space launch
Shares in Virgin Orbit, the company behind the failed first UK space launch have fallen by more than a quarter at the market open in the US, greater than the 20% drop seen in pre-market trading. Stocks fell in value from $2.01 (£1.65) at the close of trading on Monday night, to $1.50 (£1.23) when …
Business
Sky News
After rocket launch ends in heartache, where does the UK space industry go now?
It was supposed to be the night that the UK strapped rocket boosters to its attempt to make a dent in the new global space race.Yet no amount of awe or excitement on the ground at Spaceport Cornwall could will the LauncherOne rocket into completing its mission, one that would have made the seaside town …
Business
Sky News
Amazon to shut three UK warehouses putting 1,200 jobs at risk
Amazon has revealed plans to shut three UK warehouses, a decision that will affect 1,200 jobs, but open two new major fulfilment centres.Sites in Hemel Hempstead, Doncaster and Gourock, in the west of Scotland, have been proposed for closure. A spokesman said all the workers would be offered roles at other existing Amazon locations.Cost of …
Business
Business Live
South Devon College launches fishing apprenticeship
A Devon college is hoping to reel in commercial fishers of the future with its new apprenticeship scheme. South Devon College, in Paignton, has recently launched its fisher apprenticeship. Working alongside regional employers, apprentices on the scheme will learn how to sustainably harvest fish and shellfish as well as learn about fishing methods. Laurence Gilson, …
Business
Evening Standard
Teaching unions and Scottish Government still ‘some distance apart’ on pay deal
Teaching unions and the Scottish Government “remain some distance apart” from agreeing on the affordability of an improved pay offer, Scotland’s Education Secretary has said.Primary schools around the country have closed after last-ditch talks failed to prevent strike action, with secondary school staff set to walk out on Wednesday.Unions have demanded a 10% pay increase …
Business
Evening Standard
Hornby shares slump as sales ‘behind budget’ amid cost-of-living pressure
Model train maker Hornby has warned that sales are “behind budget” due to pressure on consumer finances amid rocketing living costs.Shares in the company slid in early trading on Tuesday as a result.The London-listed firm blamed “the challenging consumer economic climate” as it said that the performance over the three months to December 31 will …

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