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Evening Standard
Thameslink operator Go-Ahead bought for £670 million
Transport company Go-Ahead has been bought out for £670 million by Australia’s Kinetic Holding and Spanish operator Globalvia Inversiones after the company agreed to an increased takeover offer.The Newcastle-based company that runs nearly a quarter of London’s buses agreed in June to be bought by the consortium for £647.7 million.Go-Ahead also runs Govia Thameslink Railway consisting …
Business
Evening Standard
Rolls-Royce expects return to pre-pandemic flying hours in 2024
Rolls-Royce has said it expects the amount of flying time for its engines to return to pre-pandemic levels in 2024 as revenues continue to recover but warned of problems recruiting engineers in the UK’s tight labour market. The company is paid by customers based on the number of hours its world-famous engines are used and …
Business
Sky News
‘Very challenging winter ahead’ Ofgem says as it confirms quarterly update of energy price cap
Ofgem has confirmed that the energy price cap will be updated quarterly, rather than every six months, also warning that households face a “very challenging winter”.The energy regulator said that being able to update the energy price cap more often would provide stability in the energy market and reduce the risk of energy companies going …
Business
Sky News
UK economy to be in recession for more than a year, Bank of England warns as it hikes rates
The UK economy will be plunged into recession for more than a year this autumn as rising energy prices push inflation above 13%, the Bank of England has warned.In a bleak outlook for consumers and business, the bank forecast five quarters of economic contraction and a 5% fall in real-terms living standards, and increased interest …
Business
Sky News
Next says warm weather and demand for formal clothing helped boost sales
Next says warm weather and demand for formal clothing have helped boost its sales in recent months.The British retailer said that full price sales were 4.7% stronger than expected in the second financial quarter, saying this was likely the result of “unusually warm and dry weather”. The return to formal dressing “perhaps driven by pent-up …
Business
Sky News
M&S to stop sale of disposable barbecues in all UK stores
Marks & Spencer is to stop selling disposable barbecues in all of its UK stores.Amid a summer that has seen record-breaking temperatures and exceptionally dry conditions, the retailer said it wanted to “help protect open spaces and reduce the risk of fires”. M&S tweeted: “We’d already stopped selling disposable barbecues near national parks and in …
Business
Sky News
Hope of oil price falls are dashed as OPEC+ agrees token production increase
Hope of a meaningful drop in global oil prices have been dashed after a major group of oil-producing nations, including Russia, agreed to increase volumes by a much lower rate than requested.The United States had called on the OPEC+ cartel to raise output by at least 300,000 barrels per day (bpd) to help ease prices. …
Business
Sky News
Inflation could hit 15% early next year, fuelled by rapidly-rising energy prices
Inflation could hit 15% early next year due to rapidly-rising energy prices, according to the Resolution Foundation.In its latest analysis – In The Dread Of Winter – the thinktank said that prices for some commodities have fallen globally in recent months – sterling oil prices are 7% below their 2022 peak, and lumber prices are …
Business
Evening Standard
Taylor Wimpey confident on UK housing market as it reports 16% profit rise
Taylor Wimpey has reported bumper profits and said it expects the number of sales to rise in the rest of the year, even as signs of slowing sales in the wider industry co-incide with rising interest rates and a deepening cost-of-living crisis. The developer filed half-year profit before tax of £335 million, up over 16%. Its average …
Business
Evening Standard
Taylor Wimpey confident on UK housing market as it reports 16% profit rise
Taylor Wimpey has reported bumper profits and said it expects the number of sales to rise in the rest of the year, even as signs of slowing sales in the wider industry co-incide with rising interest rates and a deepening cost-of-living crisis. The developer filed half-year profit before tax of £335 million, up over 16%. Its average …
Business
Business Live
Major Bridgwater manufacturer marks 50 years in business
A family-run air filter manufacturing and services company in Somerset is celebrating 50 years in business. Jasun Envirocare, which was established in 1972 and expanded into Bridgwater in 1987, now has four major sites in the town and employs more than 200 people. Bridgwater’s mayor, councillor Liz Leavy, visited the company, which is based on …
Business
Sky News
Twitter sends dozens of subpoenas to Elon Musk’s associates
Twitter is sending dozens of subpoenas to Elon Musk’s associates and financial partners as part of its lawsuit against the billionaire for backing out of his deal to acquire the company.A US judge has granted Twitter a fast-track five-day trial set to start on 17 October after the billionaire said he was rescinding his $44bn …

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