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Automotive supplier Gestamp returns to profit despite ‘difficult’ market conditions
Major Nissan supplier Gestamp has returned to profit despite what it described as a difficult market. Accounts for the Spanish parent company of Gestamp Tallent Limited – which runs a Newton Aycliffe plant employing about 2,000 people – showed net profit was £128m (€155m) in 2021, up from a loss of £58.6m (€71m) the previous …
Business
Sky News
Visa and Mastercard announce suspension of operations in Russia
Visa and Mastercard have announced they are suspending operations in Russia.Credit and debit cards issued by Russian banks will no longer work outside of the country. Russian businesses and cash machines will also be unable to accept cards issued abroad. Please use Chrome browser for a more accessible video player 4:46 Terrified civilians try to …
Business
Business Live
Could opportunities in outer space bring jobs to the North East?
This week saw the possibility of 2,300 jobs being created in the North East as global defence giant Lockheed Martin identified the region as the frontrunner for a £50m manufacturing and research base. The potential plans were unveiled at a conference in Newcastle looking at economic opportunities in the space sector, which attracted more than …
Business
Euro News
Ukraine war: What sanctions have been imposed on Russia and what could come next?
Business
Sky News
Suitors vie to win Abramovich backing for £3bn Chelsea deal
A pack of suitors from international sport, property and finance are this weekend exploring bids to take control of Chelsea Football Club from the Russian-Israeli billionaire Roman Abramovich.Sky News has learnt that the owners of the Chicago Cubs Major League Baseball (MLB) team have begun considering an offer for the West London club, and are …
Business
Sky News
Tankers turned away as UK workers refuse to handle Russian fuel
UK workers are refusing to unload Russian oil from a tanker because of the invasion of Ukraine.The German-flagged Seacod, which set sail before ministers banned Russian vessels docking in the UK, is moored at Birkenhead Docks near the Stanlow oil refinery. But Unite general secretary Sharon Graham has told operators Essar its members “will under …
Business
Business Live
Solihull’s Touchwood crowned business of the year
A shopping centre praised for its performance during the covid-19 pandemic and community-focussed initiatives has been crowned Greater Birmingham business of the year. Touchwood in Solihull impressed judges at the 2022 Greater Birmingham Chambers of Commerce Business Awards who said it had “set the benchmark” for UK shopping centres in terms of sales and footfall …
Business
Business Live
Dame Diana Johnson pleads for the Humber’s chance to level up UK Plc
Dame Diana Johnson quoted two US presidents and pilloried the incumbent Russian one as she forcefully put her case for levelling up forward at the invitation of a fourth. The Hull North MP joined the Lord Mayor of Hull as a guest of honour at a dinner following Hull and Humber Chamber of Commerce’s annual …
Business
Sky News
Gas prices scrape record highs in the UK as market trembles
Gas prices came close to hitting a record high in the UK on Friday, as the market braced itself for the possibility of further disruption to Russian supplies.The British day-ahead gas price rose by 104 pence to 454 pence per therm by the early afternoon, just off of its all-time high of 464 p/therm hit …
Business
Business Live
North Shields manufacturer Isoclad expands into Wales with bank funding
North East manufacturer Isoclad has expanded with a new factory in south east Wales. The North Shields based firm makes insulated composite panels used in the construction of everything from medical cleanrooms to ice cream factories and has now opened a 124,000 sq ft plant in Monmouth. It follows a seven-figure equipment finance package from …
Business
Business Live
Ukraine at the fore as Dame Diana Johnson addresses Hull and Humber Chamber of Commerce
Hull North MP Dame Diana Johnson described Russian President Vladimir Putin as a “mass murdering dictator” as she told business leaders how the region stood in solidarity with Ukraine. The prominent Labour figure sits on the National Security Strategy Joint Committee and chairs the Home Affairs Committee, and was back in the constituency to address …
Business
Euro News
Startup movement: top tech descends on Barcelona for MWC

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