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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 …
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 …
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 …
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 …
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 …
Business
Sky News
Restaurant software firm Vita Mojo gets $30m Battery charge
A developer of restaurant software which counts Gail’s, Nando’s and LEON among its clients has secured a $30m funding boost led by one of the world’s leading early-stage investors.Sky News understands that Vita Mojo, which was founded six years ago, will announce this week that it has raised the new capital in a round led …
Business
Business Live
Mulberry sees profits leap as shoppers return to stores post-Covid
Luxury handbag maker Mulberry has reported a strong post-Covid recovery following a rise in revenue and profits for the last financial year. Group revenue at the Somerset-headquartered retailer was up 32% to £152.4m in the 52 weeks to April 2022, while profit before tax reached £21.3m – up from £4.6m in 2021, though this included …
Business
Sky News
Kwarteng ‘minded to accept’ £6.3bn takeover of Meggitt after national security probe
The £6.3bn takeover of UK defence and aerospace technology firm Meggitt looks set to go ahead after the business secretary said he was “minded to accept” proposed measures to address national security concerns.Kwasi Kwarteng intervened last October when he issued a so-called public interest intervention notice to assess whether the Parker-Hannifin deal could prove harmful …
Business
Evening Standard
National Lottery sales fall as Camelot fights to keep franchise
What did Camelot report today?Players have “tightened their belts” due to the cost of living issue, one not unique to the operator of the National Lottery which it has run since 1994.It did raise £1.91 billion for good causes, up by over 1% on a year ago even though sales were down 3.5% to £8 …
Business
Sky News
WorldRemit becomes latest fintech to slash jobs as outlook darkens
The international money-transfer service WorldRemit has become the latest fintech unicorn to take an axe to its workforce, as tumbling valuations force founders onto a survival footing.Sky News has learnt that Zepz has let go scores of employees in recent months in a move that reduced its global employee numbers to approximately 1,000. News of …
Business
Sky News
Can installing solar panels help me avoid rising energy prices?
With energy bills already soaring and the energy price cap set to rise again in October, some people are wondering if there’s anything more that can be done.One question that seems particularly pertinent this week as temperatures soar is whether it is worth turning to solar energy to avoid rising energy bills – and whether …
Business
Sky News
Boots owner Walgreens abandons £5bn sale of Britain’s biggest chemist
The owner of Boots the Chemist has abandoned the sale of Britain’s biggest high street pharmacy chain amid torrid conditions in global debt-financing markets.Walgreens Boots Alliance confirmed on Tuesday afternoon a Sky News report that it had decided to retain ownership of Boots after an auction process lasting for several months. In a statement, the …

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