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Ibstock slashes dividends as profit tumbles amid ‘subdued market conditions’
Ibstock, the London-listed brickmaker, has cut its annual dividend payout following a drop in profit and revenue due to “subdued market conditions.” The company reported a nearly one-third decrease in pre-tax profit to £21m for the year ending 31 December. Ibstock attributed this figure to a “lower trading performance” and the impact of a one-off …
Business
Sky News
Billions of pounds in spending cuts – including welfare – expected in spring statement
Several billion pounds in spending cuts – including from the welfare budget – are expected in the spring statement later this month.The Treasury will put forward the proposed cuts to the Office of Budget Responsibility (OBR) on Wednesday, ahead of it providing a financial forecast on 26 March, alongside Chancellor Rachel Reeves announcing her spring …
Business
Sky News
The US may now be in recession – and it surely can’t come as too much of a surprise
This is an incredibly fast-moving story, to the extent that by the time you read this, the latest decision or news on tariffs between the US and its North American neighbours (not to mention China) will have shifted on.So perhaps the best thing we can do here is to give you some context on how …
Business
Sky News
Ares and Farallon eye control of builders’ merchant IBMG
Lenders to one of Britain’s biggest networks of builders’ merchants are angling to take control of the company amid talks with its private equity backer over new funding requirements.Sky News has learnt that Ares Management Corporation and Farallon Capital Europe, two major investment firms, could move to take ownership of Independent Builders Merchant Group (IBMG) …
Business
Business Live
Bernard Looney breaks silence since BP exit as he takes on new role with AI start-up
Nearly 18 months after his controversial exit from oil giant BP, former chief executive Bernard Looney has been appointed chairman of ExpertAI, a sustainability-focused AI startup based in London. The company is geared towards helping small and medium-sized businesses (SMBs) lower emissions by facilitating easier access to local green suppliers and subsidies, as reported by …
Business
Sky News
Donald Trump confirms Mexico and Canada tariffs – prompting a stock market sell-off
Donald Trump’s 25% tariffs on goods from Mexico and Canada have come into effect, as has an additional 10% on Chinese products, bringing the total import tax to 20%. The US president confirmed the tariffs in a speech at the White House – and his announcement sent US and European stocks down sharply. The tariffs …
Business
Sky News
Global stocks plunge as Trump trade war expands to Canada and Mexico
Donald Trump’s expansion of tariffs to cover the top three trading partners of the United States has been met with promises of retaliation and a retreat in stock market values globally.It was confirmed overnight that tariffs on goods from Mexico, Canada and China had come into effect. The new tariffs will be felt heavily by …
Business
Sky News
Sick pay boost for 1.3 million lowest-paid workers
Around 1.3 million people on low wages are to secure guaranteed sick pay for the first time in a bid to boost health and living standards, the government has announced.Those earning less than £123 a week on average will be entitled to a sick pay equivalent of 80% of their weekly salary or the new …
Business
Sky News
Arms firms across Europe worth billions more
Weapons companies’ share prices surged across Europe and the UK’s benchmark stock index reached a record high amid talk of increased defence spending.The FTSE 100 index of the most valuable companies on the London Stock Exchange hit a level never seen before as arms maker BAE Systems saw its share price rise as much as …
Business
Business Live
Co-op Live turns around after rocky start, earning millions in its first operational year
After a tumultuous beginning, Co-op Live, the UK’s largest indoor arena, turned its fortunes around to earn millions in its inaugural year. The £365 million venue in Manchester gained significant attention early on in 2024 when delays hindered its grand opening multiple times, as reported by City AM. The resulting turmoil led to the resignation …
Business
Sky News
CVC serves up $1bn bid for IMG-owned tennis tournaments
CVC Capital Partners, the buyout giant, is serving up a $1bn (£790m) bid to buy a portfolio of tennis assets which includes two of the sport’s most prestigious annual tournaments.Sky News has learnt that CVC is among the remaining bidders for the Miami Open and Madrid Open, both of which feature the world’s leading male …
Business
Sky News
Crypto prices rally after Trump names Bitcoin and others for US strategic reserve
Cryptocurrency prices have jumped after Donald Trump revealed he would like Bitcoin and other lesser-traded tokens to be in a new US strategic crypto reserve.He said his January executive order on digital assets would create a stockpile of currencies including Bitcoin, Ethereum, XRP, Solana and Cardano (ADA). The names had not previously been announced.The American …

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