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Evening Standard
Shell chief executive Ben van Beurden to step down
The chief executive of Shell, Ben van Beurden, is stepping down from the top job at the UK’s most valuable company.He will be replaced at the end of the year by a fellow company insider, Wael Sawan, who steps up from its gas and renewables division.The 64-year old van Beurden has run the oil company since January …
Business
Evening Standard
Homeware and fine china business Portmeirion plates up revenue boost
Homeware and fine china company Portmeirion has been boosted by the return of consumers to lifestyle purchases posting a hike in profit and revenues for the first half the year.The Stoke-on-Trent based business that owns Royal Worcester fine China and the Wax Lyrical scented candle brand posted revenues of £45.4 million for the six months …
Business
Evening Standard
Kwasi Kwarteng considering removing cap on bankers’ bonuses as part of City shake-up
Chancellor Kwasi Kwarteng is considering removing the cap on bankers’ bonuses in a bid to stop a brain drain of top City executives to other international financial centres including Paris.The cap, introduced by the EU in 2014 in response the 2008 financial crash, restricts bankers’ bonuses to twice their salary.Although removing it will be seen …
Business
Business Live
Engineering firm Renishaw reports record results
Engineering giant Renishaw has reported record results as revenue rocketed to more than £670m. The FTSE 250 firm, which is based at Wotton-under-Edge in Gloucestershire, said the almost 20% rise from £565m in its previous financial year was driven by unprecedented levels of demand for its manufacturing technologies, analytical instruments and medical devices. Bosses said …
Business
Business Live
Steven Bartlett’s The Diary Of A CEO podcast hits 10 million monthly downloads
Steven Bartlett’s The Diary Of A CEO podcast has exceeded 10 million downloads in a single month for the first time, it has been revealed. During August, the podcast was downloaded 10.4 million times across the likes of Apple, Spotify, Amazon and Google as well as YouTube. The podcast also has distribution deals with British …
Business
Sky News
Shell boss leaves two major legacies as successor is named
Ben van Beurden, whose departure as Shell chief executive at the end of the year was confirmed on Thursday morning, leaves at least two major legacies.The first is the blockbuster £47bn takeover, announced in April 2015, of BG Group. The deal attracted no end of criticism at the time. There was a lot of unease, …
Business
Sky News
John Lewis Partnership ‘forgoing profit’ to help customers and partners
The John Lewis Partnership says it is “forgoing profit” to help customers, partners and suppliers navigate the challenges of the cost of living crisis.The employee-owned company, comprising the eponymous department store chain and Waitrose supermarkets, reported a loss of £99m for the half-year to 30 July compared to a red figure of £29m a year …
Business
Sky News
Chancellor may scrap cap on bankers’ bonuses to boost City’s competitiveness
Chancellor Kwasi Kwarteng is considering a plan to scrap caps on bankers’ bonuses as part of a post-Brexit bid to boost the City’s competitiveness and the UK economy, Sky News understands.He argues the cap, which was introduced under EU rules in 2014 following the 2008 financial crisis and subsequent eurozone debt crisis, would make London …
Business
Sky News
Why new path for inflation could mean UK avoids a deep recession
It may still be as near as you can get to double figures.It may yet be heading higher still. It may be squeezing households across the country, but squint a little bit and there’s some good news in Wednesday’s inflation data. For the first time in a long time, not only did the rate at …
Business
Sky News
McDonald’s and Greggs to close for Queen’s funeral
McDonald’s has announced it is to close for the Queen’s funeral to allow staff to “pay their respects”.The fast food chain tweeted that on Monday, its UK restaurants will be shut from midnight until 5pm.It has taken the action “in honour” of Her Majesty and to “enable everyone at McDonald’s to pay their respects”.The Queen …
Business
Business Live
Tommee Tippee baby products owner sees profits jump amid global growth
The North East owner of baby brand Tommee Tippee has seen its profits jump 77% on the back of global growth and new product development. Mayborn Group, which has more than 1,100 staff around the world, has it head office in Balliol Business Park in Newcastle, overseeing the group’s popular brands including Tommee Tippee baby …
Business
Business Live
Acquisitions boost bottom line for Gateley
A trio of acquisitions has boosted a positive year at legal services group Gateley. The listed group said revenue had climbed year on year from £121.4 million to £137.2 million for the 12 months to April 30, 2022. Pre-tax profit for the period also rose, from £16.3 million to £18 million. Chief executive Rod Waldie …

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