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More than 90,000 VW drivers in England and Wales will get payouts over ‘dieselgate’
Volkswagen has reached a £193m settlement with UK drivers involved in a class action lawsuit over the so-called dieselgate scandal in 2015.The German carmaker, which had refused to compensate the owners of diesel models affected in the UK, citing EU law, faced claims brought on behalf of more than 100,000 people by several legal firms. …
Business
Evening Standard
De La Rue expects profits to level for the coming year
De La Rue the UK-based bank note manufacturer has been hit by ongoing fallout from the loss of its passport division, supply chain inflation and the impacts of the pandemic as its annual profits stagnated with a similar outcome expected for the next year. The company reported operating profits of £36.4 million for the full year …
Business
Sky News
British software company Access worth £9bn as Singapore takes stake
A Loughborough-based software company is close to becoming more valuable than Sage Group, the FTSE-100 technology champion, as it finalises a deal to sell a stake to a Singaporean state investment fund.Sky News has learnt that The Access Group, which was founded in 1991, is in advanced talks about a transaction that will value it …
Business
Evening Standard
SSE reports increased profits on £24 billion renewable energy pledge
Energy giant SSE today pledged to invest £24 billion in green power over the next decade as it fought off the threat of a windfall tax on bumper profits.Those profits for the year to March jumped 15% to £1.5 billion, a figure likely to anger customers facing power bills this year of perhaps £2,800.On the …
Business
Evening Standard
Brits won’t ditch pets despite cost of living, says Pets at Home boss
PETS at Home rejected suggestions that hard-up Brits will ditch lockdown pets as it reported record results.The Pet business has been a clear pandemic winner, with sales for the year up 15% to £1.3 billion, and profits jumping 40% to £149 million.The RSPCA has warned that cats and dogs will be abandoned as the cost …
Business
Business Live
Offtake plans progressing for Pensana as ‘robust economics’ behind magnet metals investment outlined
Customers for the magnet metals to be refined on the Humber are starting to emerge. Pensana has completed its front end engineering design work ahead of the building of a rare earth separation plant at Saltend. The starting point for the supply chain that feeds into wind turbines and electric turbines is set to be …
Business
Business Live
Revenue more than doubles at Steven Bartlett-founded Social Chain
Social Chain, the company founded in Manchester by Steven Bartlett and Dominic McGregor, more than doubled its revenue during the first three months of 2022, it has been confirmed. The business has reported a revenue of €124.8m for the quarter, up from the €60.7m it posted for the same period in 2020. Social Chain’s EBITDA …
Business
Sky News
Energy boss dismisses calls for windfall tax as he defends rise in profits
The chief executive of SSE has defended the energy company’s 23% rise in annual profits, which were bolstered by higher energy prices. SSE’s chief executive, Alistair Phillips-Davies, dismissed calls for a windfall tax on the profits of energy companies, pointing to the company’s plans to invest £24bn in British energy infrastructure during this decade, including …
Business
Evening Standard
The (Saturday) boy done good: Steve Rowe bows out at M&S
WHEN Steve Rowe became boss of Marks & Spencer in 2016 many in the City, and many former customers, thought it was finished.The gap between the glamorous adverts and the reality of most stores was getting wider.And successive CEOs had failed to grasp this, milking what they could before they moved on.Appointing Rowe, a former …
Business
Business Live
Dyson gives glimpse of secret work on cleaning robot prototypes
Dyson has given a behind the scenes glimpse of top secret work it is doing at its Wiltshire campus on autonomous robots capable of performing household chores. The company – known for its vacuum cleaners and fans – has said it is looking to create the UK’s largest and most advanced robotics centre at Hullavington …
Business
Sky News
‘Unfortunate landmark’ as petrol and diesel prices hit another record high
Average petrol prices have reached a new record high of 170.4p a litre, new figures show.The average price for diesel was 181.4p a litre on Tuesday, according to data firm Experian Catalist. A year ago today, petrol was 129.0p a litre, with diesel at 131.3p a litre.UK ‘heading into unprecedented territory’ as energy price cap …
Business
Business Live
Bank of England chief economist Huw Pill on inflation, interest rates and the labour market
Chief economist of the Bank of England, Huw Pill, said the question of whether those who left the workforce during the pandemic will return is one of the biggest unknowns facing the UK economy as he indicated that interest rate rises still have some way to go in efforts to bring soaring inflation back to …

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