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‘Unreasonable and unacceptable’: Furious airline refuses to cut flights from Heathrow
Emirates airline has rejected an order from Heathrow that it must cancel flights to and from the west London airport to comply with a cap on passenger numbers.The Dubai-based carrier said that on Wednesday it had been given 36 hours to comply with Heathrow’s order, as the airport attempts to ensure it can operate without …
Business
Business Live
Housing market remains ‘robust’ says Barratt boss despite slowdown in economy
The British housing market remains ‘robust’ despite fears over the slowing economy, according to the boss of the country’s biggest housebuilder. Barratt chief executive David Thomas said he expects new home completions to grow at a rate of 3 to 5 per cent in the medium term, despite uncertainty over inflation, rising interest rates, consumer …
Business
Evening Standard
Celsius Network files for bankruptcy amid continued crypto woes
Crypto lender Celsius Network has filed for bankruptcy as it becomes the latest victim of the Bitcoin price crash.The New Jersey-based business said the move was part of a financial restructuring that would “stabilize the business.”Celsius is the third major crypto firm to enter bankruptcy in three weeks following the collapse of hedge fund Three …
Business
Sky News
Upper Crust owner boosted by airport disruption but rues rail strike hit
The owner of the Upper Crust sandwich chain and Ritazza coffee shops has revealed a boost to its revenue from chaos facing passengers at airports globally but admitted sales damage from UK rail strikes.SSP, which also has the Cabin and Camden Food co-brands in its stable of offerings, told investors it expected annual sales and …
Business
Evening Standard
Brits tighten their belts as inflation erodes household budgets
Brits are cutting back their spending as soaring inflation takes its toll on household budgets.Almost half of consumers are buying less clothing and shoes, while over two fifths are buying less electronics, according to a survey by accountancy firm EY.Over a third (37%) of low and middle-income consumers are now only buying essential items, the …
Business
Sky News
Housing market cooling off but rents likely to keep rising, surveyors say
Surveyors say they are seeing evidence that the housing market is starting to cool.In its monthly survey, the Royal Institution of Chartered Surveyors (RICS) found that 27% of professionals reported a fall in interest from potential house buyers. It was the third consecutive month that interest from new buyers slipped.Despite this, 65% of professionals said …
Business
Evening Standard
US inflation hits 40-year high
US inflation data soared past analyst expectations to hit 9.1% in June according to figures released by the US department of Labor Statistics.Gasoline, shelter and food were among the largest contributers to the rise, which marked the highest annual gain since November 1981, and the highest monthly gain since 2005.Nasdaq 100 futures dropped 2.3% on …
Business
Sky News
New rail strike planned for later this month amid row over ‘paltry’ pay offer
Workers at rail operators and Network Rail will strike for 24 hours on 27 July in a dispute over pay, the RMT union has announced.The news comes after the union rejected a pay offer from Network Rail, which it described as “paltry”, and after three rail strikes last month which crippled services across the country. …
Business
Sky News
Why the Bank of England’s governor will be closely watching South Korea, Australia, and New Zealand
The rush around the world to raise interest rates shows no signs of abating as central banks scramble to get inflation back under control.July has already seen interest rate rises in Israel, Poland, Pakistan, Peru, Uruguay and Serbia, among others, and overnight there were two more major moves in the Asia Pacific region. The Bank …
Business
Sky News
More than eight million households get £326 in their account from today to help with cost of living
More than eight million households will start receiving the first of two payments intended to help with the cost of living from today. Almost one in four low-income households in England, Wales, Scotland and Northern Ireland will get £326, with the second instalment of £324 sent this autumn as part of the government’s £37bn support …
Business
Sky News
US inflation reached 9.1% in June – a 40-year high
The rising cost of fuel, food and rent pushed US inflation to a 40-year high of 9.1% in June, according to the latest figures. Advertisement
Business
Sky News
Euro drops below parity with dollar after US inflation hits 9.1%
The euro has dropped below parity against the dollar the first time in almost two decades after news that US inflation reached 9.1% in June.The figures will place further pressure on the Federal Reserve to hike interest rates by 75 basis points later this month, as raising interest rates is one of the tools used …

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