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Evening Standard
Deliveroo skids £147m into red as customers back-pedal on order size
Pre-tax losses at takeaway app Deliveroo have shot up to £147 million as hard pressed customers start to feel the impact of inflationary pressures.Revenue in the first half of 2022 climbed 12% to top £1 billion for the first time, but swelling order numbers were partially offset by a drop in order sizes.Deliveroo boss Will …
Business
Evening Standard
Hostelworld revenues spike on travel market ‘strong recovery’
Losses at travel accommodation provider Hostelworld have halved in the first half of the year due to a “strong recovery” in travel bookings.The business reported an adjusted loss of €5.2 million (£4.4 million) compared to €9.7 million in the first six months of 2021.Net revenue came in at €28 million, an increase of 866% driven …
Business
Evening Standard
Elon Musk sells $7 billion’s worth of Tesla shares ahead of court clash over $44 billion Twitter deal
Elon Musk has offloaded almost $7 billion (£5.8 billion) Tesla shares ahead of his multi-billion dollar court clash with Twitter after he bailed out of his $44 billion bid for the social media site.Twitter is suing Musk in a dispute that could end with him being forced to make good on his offer, or pay …
Business
Sky News
Royal Mail says union strike move is an ‘abdication of responsibility’
Royal Mail has accused a union of abdicating its responsibility after announcing four days of industrial action.Members of the Communication Workers Union are planning to strike on 26 August, 31 August, 8 September, and 9 September in a dispute over pay. Royal Mail said workers have been offered a 5.5% rise, but the union said …
Business
Evening Standard
FTSE 100 insurers eye simpler, more affordable policies as inflation sets in
There was fresh insight into the impact of soaring inflation in the UK from two FTSE 100 insurance companies alongside their latest financial results on Wednesday.Aviva’s chief executive, Amanda Blanc, called the cost-of-living crisis “the worst in decades”, and said as well as launching more “affordable products”, the FTSE 100 company would “extend premium deferrals” …
Business
Evening Standard
National Express finance head steps down
Coach operator National Express is set to lose Chris Davies its chief finance officer to technical products business Diploma.Davies joined National Express in May 2017. He is subject to a six month notice period and the group is already on the hunt for his successor. He departs after an abortive attempt by the business to create a …
Business
Sky News
Energy bosses ‘hauled in’ for talks with government as household bills soar
Energy bosses have been “hauled in” before government to discuss what they are going to do with their rising profits as household bills soar, the education secretary has told Sky News.James Cleverly said Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng are to meet with leaders of energy companies as calls grow for more to …
Business
Sky News
Energy bosses to hold crisis talks with ministers over soaring bills
Crisis talks will take place between energy sector bosses and the government tomorrow after the price cap was forecast to hit more than £4,200 in January.Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng will ask gas and electricity company executives to submit a breakdown of expected profits and payouts as well as investment plans for …
Business
Sky News
Domino’s exits Italy after failing to win over ancestral home of pizza
Domino’s has closed the last of its 29 stores in Italy, marking the end of an ambitious plan to launch American pizza in the culinary dish’s ancestral home.Domino’s arrived in Italy in 2015, when it already had more than 12,000 stores worldwide. It opened stores in Milan before expanding to other centres, including Rome, Bologna, …
Business
Sky News
Royal Mail workers to stage strikes over four days in call for ‘dignified, proper pay rise’
Royal Mail workers are set to stage four days of strikes in the coming weeks in a dispute over pay.The Communication Workers Union (CWU) said over 115,000 staff will form the biggest strike of the summer so far to demand a “dignified, proper pay rise”. Walkouts will take place on Friday 26 and Wednesday 31 …
Business
Sky News
Felixstowe port strike to go ahead after talks break down
An eight-day strike at the UK’s biggest container port will go ahead after talks between bosses and unions broke down.More than 1,900 members of Unite will strike from Sunday 21 August until Monday 29 August, unhappy with the 7% pay rise offered by Felixstowe Dock and Railway Company following a 1.4% increase last year. A …
Business
Sky News
‘Nobody expected to be hit with this crisis’: Hospitality businesses call for urgent VAT cut
Business leaders are calling on the government to urgently cut VAT, as they struggle with increasing costs.Many businesses are being hit by the same increases in bills as households, on top of other costs such as business rates. But they also face the challenge of trying to sell their products or services to customers who …

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