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29.06.2022 - 13:45
Business
Sky News
US reports drop in GDP after consumer spending fails to reach expected levels
The US has reported its first drop in economic output since the second quarter of 2020.The US economy shrank at 1.6% annual pace in the first three months of the year, according to the latest figures from the country’s commerce department. It follows a strong 6.9% expansion in the last financial quarter of 2021.The commerce …
29.06.2022 - 13:28
Business
Sky News
Will I get £400 energy rebate if bills are included in my rent?
Tenants fear they could miss out on a £400 energy discount after Chancellor Rishi Sunak announced a rebate for homes.In May, Mr Sunak said he was doubling his planned energy bills rebate for Britons amid the cost of living crisis and offering a discount to homes that have a electricity supply contract. But how do …
29.06.2022 - 12:32
Business
Sky News
Morrisons sees fall in sales amid ‘very fragile and difficult consumer environment’
Morrisons has warned of a “very fragile and difficult consumer environment” as it reported a fall in sales over the past three months.The supermarket group said like-for-like sales, excluding fuel and VAT, fell 6.4% in the 13 weeks to 1 May, blaming inflation and “increasingly subdued consumer confidence”. Total revenues for the company were up …
29.06.2022 - 12:02
Business
Evening Standard
Fuel retailers are riding for a fall by raising prices
You would think fuel retailers would be showing restraint ahead of the Competition and Markets Authority’s “swift high-level” review of the sector due to be published next Thursday.But far from it.The price of a barrel of Brent Crude dropped $10 last week on fears of global recession and is still below the $120 levels it …
29.06.2022 - 10:25
Business
Business Live
300 new jobs created at Nissan’s North East plant ahead of production of new electric vehicles
NIssan’s is recruiting for 300 new roles at its North East plant as it accelerates plans for its electric vehicle revolution. The Sunderland plant is currently making preparation for the production of two new eco-friendly versions of its popular crossover vehicles – the Juke and the new electrified version of the Qashqai. In moves to …
29.06.2022 - 10:08
Business
Business Live
Agricultural supplies group Wynnstay reports record half year results
Powys-based agricultural supplies group Wynnstay has reported record half year results. For the six months to the end of April this year, the Alternative Investment Market firm posted pre-tax profit of £9.56m – up 78% from £5.36m on the previous year. Revenue also rose by 34% to £335.66m, from 2021 figures of £249.71m, however Wynnstay …
29.06.2022 - 09:59
Business
Sky News
Two-year extension of steel tariffs despite plea for imports from manufacturers
A two-year extension of tariffs on some foreign steel has been revealed by the government in a bid to protect domestic producers, despite pleas from manufacturers for help to grow imports because of a domestic steel shortage.International Trade Secretary told MPs “safeguards” would remain on 15 major categories of imported steel in total, because of …
29.06.2022 - 09:46
Business
Business Live
RWE and Tata Steel partnership could see offshore wind power made with Port Talbot steel
A new partnership between RWE and Tata Steel could see high-tech floating wind turbines in the Celtic Sea made with Port Talbot steel. Wales’ largest renewable energy operator and the UK’s largest steelmaker will work together to explore the production of steel components for foundations and structures used in the commercial-scale floating offshore wind farm …
29.06.2022 - 09:45
Business
Sky News
Crypto hedge fund Three Arrows Capital plunges into liquidation
Three Arrows Capital, a cryptocurrency-focused hedge fund, has plunged into liquidation, deepening the crisis engulfing the global digital assets sector.Sky News has learnt that partners from Teneo in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm, which was set up in 2012 by Su Zhu and Kyle …
29.06.2022 - 09:17
Business
Evening Standard
End of tax-free shopping is hurting London, warns Mulberry boss
THE boss of Mulberry today called for the return of tax-free shopping, saying its demise is hurting London and the wider retail sector.Thierry Andretta, the CEO of the luxury brand, said stores in France and Italy are enjoying a comeback post Covid as tourists flock to spend money on high-end bags and clothes.But his stores …
29.06.2022 - 09:09
Business
Business Live
REVEALED: Peter Cowgill had been in line for pay rise ahead of sudden resignation as JD Sports finance chief gets £100,000 boost
Peter Cowgill had been in line for his JD Sports salary to swell to more than £900,000 before his sudden resignation in May, it has been revealed. Mr Cowgill stepped down from his role as executive chairman of the Greater Manchester-headquartered giant after 18 years. In a statement issued at the time, JD Sports said …
29.06.2022 - 08:39
Business
Sky News
Car insurance premiums for most popular models ‘rise by £100’
The average cost of insuring the ten most popular models of car has leapt by £100, according to analysis from a price comparison site.Comparethemarket.com said drivers typically paid a premium of £675 for their annual insurance between March and May this year – up from £575 in the same three months in 2021. It blamed …
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