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EU plans cap on Russian gas in retaliation for Ukraine war
The European Union appears set for a new showdown with Russia over gas supplies.The bloc has revealed plans for a price cap on Russian gas imports in retaliation for the war in Ukraine and measures to help member states cope with the energy squeeze. Ursula von der Leyen, the president of the European Commission, laid …
Business
Business Live
Bruntwood SciTech submits plans to create 1,600 jobs at Alderley Park
Plans have been submitted for a major development at Alderley Park in Cheshire that have space for 1,600 jobs. Bruntwood SciTech, a 50:50 joint venture between Bruntwood and Legal & General, is behind the proposals to deliver two new buildings for lab and office space, totalling around 200,000 sq ft. Subject to permission being granted, …
Business
Evening Standard
Barratt scores £1 billion profit as house prices set new records
Barratt Developments has reported annual profit of over £1 billion for the first time in results published on the day average house prices reached fresh records in London and the UK.The landmark profits came at a time when the industry is bracing for the impact of sustained increases in interest rates and the higher mortgage …
Business
Business Live
Digital payments start-up that works with hotels giant IHG and Grosvenor Casinos secures £3m investment
A Manchester-headquartered digital payments start-up that works with hotels giant IHG and Grosvenor Casinos has secured a £3m investment. wi-Q, which also has offices in London and the Middle East, has receiving the backing of investor Praetura Ventures to ‘enhance its product offering and expand its international footprint’. Founded in 2014, wi-Q provides mobile ordering …
Business
Business Live
Port Talbot trucking firm opens new office space and creates 50 jobs following £2.7m investment
Trucking company Runtech has opened new offices in Swansea and created jobs as part of ambitious growth plans. The Port Talbot firm invested £2.7m to acquire the 17,000 sq ft offices at Dyfrig Court at Riverside Business Park. The funding, supported by Barclays, is part of Runtech’s ambitious growth plans and has already created 50 …
Business
Evening Standard
International travel bounceback helps lift WH Smith sales
WH Smith’s transition to an international travel retailer appears to be paying off after the firm posted revenues which soared past pre-pandemic levels.Sales at the firm’s ‘travel’ stores – which include train stations, service stations and airports – were almost 30% ahead of pre-pandemic levels in the six months to August, led by strong results …
Business
Business Live
What does appointment for the Jacob Rees Mogg mean for the climate agenda?
Jacob Rees-Mogg took to Twitter soon after his appointment to say: “I look forward to serving the Prime Minister and the country during the challenging times ahead.” But what does that mean for attempts to replace a reliance on fossil fuels with renewable sources of energy including nuclear, offshore wind and solar energy? Optimism was …
Business
Business Live
Jobs at risk as last orders called for historic Jennings Brewery
Jobs have been put at risk after plans were revealed to close the historic Jennings Brewery in Cumbria. Carlsberg Marston’s Brewing Company (CMBC) said it aims to close the Cockermouth site in early October. CMBC added its logistics based at the site will continue to operate as normal while options are explored, including a potential …
Business
Evening Standard
M&C Saatchi profits slip as it books £8.4m costs fighting takeover
Advertising and marketing giant M&C Saatchi said it has spent £8.4 million fighting off two takeover moves over the past six months as it reported shrinking profits.Shares in the company slipped on Wednesday morning after it said statutory pre-tax profits tumbled to £0.3 million for the six months to June 30, from £4.8 million over …
Business
Evening Standard
Barratt posts record profits but adds to signs of cooling housing market
Housebuilder Barratt Developments has posted record annual figures but added to signs that Britain’s property market may be cooling as it said weekly buyer reservations have fallen below pre-pandemic levels.The UK’s biggest housebuilder reported underlying pre-tax profits at an all-time high of £1.05 billion for the year to June 30, up 14.7% on the previous …
Business
Sky News
Bank of England governor hails prospect of ‘important’ energy bill clarity in inflation fight
The governor of the Bank of England has told MPs he welcomes the prospect of a “clear policy stance” on tackling the surge in the energy bills, as markets fret over the country’s economy.Andrew Bailey said it was “important” that a clear way forward emerged following the end of the Tory leadership race, which coincided …
Business
Evening Standard
Crypto investors hold their breath as $200 billion at risk in Ethereum ‘merge’
Crypto investors across the world are holding their breath as one of the biggest digital currencies, Ethereum, begins its weeks-long transition to a proof-of-stake coin.The transformation of the $200 billion-market-cap cryptocurrency promises to deliver huge energy efficiencies, making Ethereum much more cost-effective to use compared to the market’s most popular coin, Bitcoin. But the scale …

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