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Sky News
Oil price retreat likely to be short-lived as demand set to outstrip supply
As Boris Johnson jetted off to Saudi Arabia in an attempt to persuade the Kingdom to pump more crude, a reminder arrived that whatever the efforts may yield, it may not be enough to save the world from an oil shock.The International Energy Agency, the multinational body set up in the wake of the 1973 …
Business
Evening Standard
Bank of England poised to shove rates up for third time in a row
Business
Sky News
Chicago Cubs owners and Citadel billionaire Griffin team up for Chelsea FC bid
The owners of the Chicago Cubs and Ken Griffin, the billionaire hedge fund tycoon, have joined forces to table a blockbuster bid for Chelsea Football Club.Sky News can exclusively reveal that the Ricketts family and Mr Griffin have formed an investment group that will lodge a formal offer for last season’s Champions League-winners on Friday. …
Business
Sky News
The Wolseley owner fires new salvoes in battle for control of top restaurants
A battle over the future of some of London’s top restaurants has resumed hostilities after its Thai-based owner prepared legal proceedings against the fund which has just taken over the group’s debt.Sky News has learnt that Minor International has hired Linklaters, the magic circle law firm, to sue Knighthead Capital Management for allegedly inducing Corbin …
Business
Business Live
Peer who was top aid to Prime Minister Gordon Brown to step down from United Utilities board
A prominent business figure, who also served as a top aid to then-Prime Minister Gordon Brown, is to step down from the board of United Utilities. Lord Stephen Carter, who has been an independent non-executive director since 2014, will not seek reappointment at the company’s annual general meeting on July 22. Lord Carter has previously …
Business
Sky News
No let-up for UK motorists as average petrol prices hit new record 165p a litre
Petrol prices have risen to an average of £1.65 a litre as motorists see no let-up in daily increases despite oil prices sliding back from peak levels.Latest figures from data firm Experian Catalist, for Tuesday, also showed average diesel prices had hit £1.76 a litre, both of them records. The cost of petrol has climbed …
Business
Business Live
Sustainable cleaning products maker sold in Booths and Holland & Barrett secures major investment
A sustainable chemical manufacturer, whose products are sold by the likes of Booths and Holland & Barrett, has been backed by Fearless Adventures in its largest investment to date. The Friendly Chemical Co (FCC), which is based in Skipton, Yorkshire, will use the funding to expand its ethical cleaning products brand, Miniml. FCC was established …
Business
Business Live
Bristol Airport expansion plans to be challenged in High Court
A group of campaigners is planning to appeal to the High Court against a decision to allow the expansion of Bristol Airport. The transport hub was given the green light by the Planning Inspectorate in February. But Bristol Airport Action Network (BAAN) has now said it plans to appeal against the latest decision. The airport …
Business
Evening Standard
Small rises in interest rates won’t do anything to bring down price rises
Business
Business Live
Merger of Newcastle’s North P&I and Standard Club to create one of world’s largest maritime insurers
Shipping and marine insurer North P&I is discussing a proposed merger with fellow mutual Standard Club – a move that would create one of the world’s largest maritime insurance groups. Newcastle-based North and London-based Standard Club would join to create NorthStandard with a joint premium income of £612m ($800m) and assets of £1.5bn ($2bn). The …
Business
Business Live
Leekes Group secures new multi-million-pound bank funding facility to support expansion plans
Family-owned Leekes Retail & Leisure Group has secured a a new multi-million-pound bank facility to back its expansion plans. The funding, evenly split between HSBC and Barclays, is earmarked to back the fourth-generation family business’ divisions: Leekes Retail, the Vale Resort, Hensol Castle Distillery, and its property arm. The value of the finance has not …
Business
Sky News
Fevertree makes profit warning after Ukraine war pushes up commodity prices ‘dramatically’
Mixer-maker Fevertree has warned annual profits will be lower than previously expected after the Ukraine war pushed up commodity prices “dramatically”.The company said the surge over recent weeks had created “significant uncertainty in relation to input costs”. That means underlying earnings for the year are expected at £63m-£66m, down from previous guidance of £69m-£72m. Image: …

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