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Sky News
Biggest US tech sell-off for over a decade reflects impatience over AI profits
The Nasdaq and S&P 500 have suffered their worst single-day decline since 2022 – led by underwhelming financial results from Tesla and Alphabet, the owner of Google.The sell-off points to wider concerns surrounding the high valuations of a handful of tech giants, and how vulnerable the wider US market is to their fate. The so-called …
Business
Evening Standard
British Gas owner’s profits fall from record highs amid more ‘normalised’ market
British Gas owner Centrica’s profits have fallen back after they hit record highs during the energy crisis, as it said the UK was moving to a “more normalised” gas and electricity market.Centrica said underlying earnings in its British Gas household supply arm slumped to £159 million in the six months to June 30, from £969 …
Business
Evening Standard
Car production down 7.6% in first half of year as manufacturers switch to EVs
UK car production fell by 7.6% in the first six months of the year, new figures suggest.Industry body the Society of Motor Manufacturers and Traders (SMMT), which released the data, said the decline was “expected” due to car makers overhauling lines to make electrified models.Factories turned out 416,074 new cars between January and June, 34,094 …
Business
Sky News
Cineworld to axe hundreds of jobs in blockbuster restructuring plan
Cineworld will this week unveil a sweeping overhaul that will cost hundreds of jobs and reduce its British footprint by at least a quarter.Sky News has learnt that the cinema operator will publish details of a restructuring plan on Friday that will result in the closure of around 25 sites across the UK. City sources …
Business
Sky News
PM says bills will come down with GB Energy – as he hails ‘game changer’ Crown Estate deal
Sir Keir Starmer has said he is confident household bills will come down as part of the government’s drive to deliver the publicly owned energy firm GB Energy.Speaking at an event in Runcorn, Cheshire, the prime minister hailed the government’s “historic” partnership with the Crown Estate to roll out new offshore wind farm developments as …
Business
Sky News
Now even harder for UK’s biggest water company to function as debt downgraded to ‘junk’
It is now even harder and more expensive for the UK’s biggest water provider to borrow money as leading credit ratings agency Moody’s has downgraded its debt to “junk” status. Thames Water’s parent company had already defaulted on some loan payments that make up its £16.5bn debt pile. More pressure will be put on its …
Business
Sky News
Firm behind worst global IT crash gives update on cause
CrowdStrike, the cybersecurity firm behind last week’s major global IT crash, has blamed a bug in its quality control mechanism for the carnage.In an update on its investigation into the crisis, which is still being felt, CrowdStrike said a code fault had slipped past its own safety procedures, forcing computers running Microsoft’s Windows operating system …
Business
Sky News
Reeves to woo Canadian pension funds amid ‘Big Bang’ push
Rachel Reeves is to hold talks with a group of Canadian retirement funds which have invested tens of billions of pounds into the British economy in a bid to convince them to back her “big bang” pension reforms.Sky News has learnt the chancellor will meet funds including the Canada Pension Plan Investment Board (CPPIB), Ontario …
Business
Euro News
Italian police seize €121 million of Amazon stock for alleged tax fraud
Business
Business Live
Harworth hails progress on ambitious targets amid strong half year sales
Development company Harworth Group says it is on track to meet two key targets, including growing its investment portfolio to £900m in the next five years. Half year results for the Yorkshire-based land and regeneration specialist include the expectation it will reach £1bn EPRA net disposal value – a key industry measure of performance – …
Business
Evening Standard
Aston Martin sales stall as company sets aside £2bn for electric cars
Aston Martin’s losses deepened in the first half of 2024, as the luxury car-maker ringfenced more than £2 billion to help it switch to electric cars and said its incoming chief executive will join earlier than planned.The British company delivered just 1,998 cars in the first half of 2024, nearly one-third fewer than the same …
Business
Evening Standard
Wind farms more than double Crown Estate profit to £1.1bn
Profit from the royal family’s land and property holdings more than doubled to a record £1.1 billion last year, driven by a short-term boost from offshore wind farms.The Crown Estate said earnings surged by more than £658 million during the year ending March 31, from £443 million the previous year.Profits are paid directly to the …

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