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Evening Standard
Elon Musk sells $3.6 billion Tesla shares after wealth drops $109 billion since January
Elon Musk has sold another big tranche of Tesla shares for the fourth time in a row in 2022 as the billionaire has seen his wealth plummet over $109 billion since January,The Tesla boss sold about $3.6 billion in Tesla shares earlier this week, regulatory filings published this morning show, taking the total sold this …
Business
Evening Standard
Chancellor ‘mooting plans to extend energy support for all firms’
Chancellor Jeremy Hunt is reportedly considering plans to keep energy bill support in place for all UK companies after the current scheme closes, in what would mark a U-turn on aims to target only the vulnerable sectors.The Government is looking at extending the support past March, but with capped power prices at a lower level …
Business
Evening Standard
Currys sinks to loss after international rivals slash prices
Technology retailer Currys has sunk to a loss after lower demand left competitors with excess stock, leading to heavy discounting across rival stores.However, profits in the UK and Ireland have bucked the trend as it said it was on track to make £300 million in cost savings across the region.Adjusted earnings reached £25 million in …
Business
Sky News
Currys hurt by overseas discounting as it cuts annual profit outlook
Electricals retailer Currys has cut its annual profit outlook after diving into the red during the first half of its financial year.The UK-based group, which has more than 800 stores alongside its online operation, reported an adjusted pre-tax loss of £17m for the six months to 29 October compared to a profit of £48m a …
Business
Business Live
East Midlands business activity sees solid decline in November
Business activity in the East Midlands continued to fall in November, with new orders down and costs up, according to NatWest. The bank’s monthly survey of industry leaders suggests the region also saw the first recorded decrease in employment since January 2021 – echoing latest Government figures – which was put down to growing redundancies …
Business
Sky News
Interest rate increased by 0.5 percentage point in ninth consecutive rise
The Bank of England has revealed a 0.5 percentage point interest rate increase – its ninth consecutive rise as it maintains its battle against inflation. The decision, by its monetary policy committee (MPC), took the bank rate to 3.5%.- a fresh high not seen since the 2008 financial crisis. The move, however, represented a slowdown …
Business
Sky News
Airport security rules on liquids and laptops to be relaxed
The rules limiting the volume of liquids allowed on planes and requiring electronics to be taken out of hand luggage in security are to change.The government has set a deadline of June 2024 for major UK airports to install new security technology, which will make obsolete the rule to bring no more than 100ml of …
Business
Sky News
US interest rates set by Federal Reserve rise to their highest since 2007
US interest rates are now at their highest since the global financial crisis as the US central bank has again imposed an increase as it seeks to lower inflation. The Federal Reserve, known as the Fed, has imposed a 0.50 percentage points rise in interest rates. The widely-expected rise will mean more expensive borrowing for …
Business
Sky News
Regulator to investigate antibiotics price rise following surge in Strep A cases
An investigation has been launched by the Competition and Markets Authority (CMA) following rocketing prices of antibiotics in the wake of Strep A cases.Drug companies have been accused of hiking prices after some pharmacies said they were being charged up to £19 for a box of drugs that normally costs a few pounds. Pharmacies say …
Business
Sky News
The ‘pricing power’ trend of 2022 at risk from persistent inflation
Among the company results on Wednesday morning there was a very interesting theme running between a number of them, specifically those from the Spanish fashion retailer Inditex, the luxury watch and jewellery retailer Watches of Switzerland and the tour operator TUI.All three appear to have had no difficulty in passing on price increases to customers. …
Business
Business Live
Principality boss on its stadium naming rights deal and commitment to the high street
Principality Building Society’s chief executive Julie-Ann Haines says its multi-million-pound naming rights deal for the Principality Stadium has exceeded expectations while the relevance of the mutual sector has never been as important as banks increasingly retreat from the high street. Addressing a meeting of Cardiff Breakfast Club, Aberdeen-born Ms Haines, also called for co-ordinated action …
Business
Business Live
Over £4.5m owed by inflatable hot tub seller Clever-Company after entering administration
Inflatable hot tub firm Clever-Company owed more than £4.5m to its creditors when it entered administration, it has been revealed. The figure has been included in new documents filed with Companies House after the business appointed Interpath Advisory to oversee the administration process at the end of October. The Halton-based firm supplied inflatable hot tubs …

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