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Evening Standard
Why The Hut Group is wrong about the short-sellers
There is a long, ignoble and quite funny history to big company bosses moaning about short-selling.Back in 2006 Enron chairman Ken Lay blamed the collapse of the now notorious energy trader on those evil investors who dared to bet his shares would drop.In 2008 HBOS said the shorts were undermining the bank by claiming it …
Business
Sky News
Lidl claims to be fastest-growing bricks and mortar retailer after Xmas sales growth
Lidl has claimed to be the fastest-growing bricks and mortar retailer in the UK following bumper Christmas sales.The British arm of German discount supermarket chain said sales rose 2.6% in the four weeks ending 26 December. Like rival Aldi on Monday, it said it had benefited from shoppers switching from other grocers.However, also like Aldi, …
Business
Sky News
Heathrow demands all COVID testing is dropped after 600,000 passengers cancelled Christmas flights
Heathrow Airport has called for all coronavirus testing to be dropped for fully-vaccinated people while revealing that “at least” 600,000 passengers cancelled flights during the key holiday month of December.The UK’s largest airport said “swiftly imposed” action during the month to tackle the Omicron variant in the run-up to the festive season prompted uncertainty among …
Business
Sky News
Anger as energy company advises star jumps and cuddling a pet to keep warm this winter
One of Britain’s largest energy companies has had to apologise after it advised customers to do star jumps, cuddle pets and eat porridge to stay warm in a blog post.OVO Energy-owned SSE Energy Services said it was “embarrassed” by the blog, which was sent to customers “containing energy-saving tips”. The post has been removed by …
Business
Business Weekly
Germany calling with $790m deal for Crescendo
Crescendo Biologics in Cambridge is set to earn mega-dollars from a multi-target drug discovery collaboration with German influencer BioNTech. The partners are to develop novel immunotherapies, including mRNA-based antibodies and engineered cell therapies, for the treatment of patients with cancer and other diseases, leveraging Crescendo’s proprietary Humabody® VH platform. Crescendo will receive $40 million upfront, …
Business
Sky News
Retail and restaurants held back as Omicron dampened appetite for Christmas shopping and parties
Christmas retail and restaurant spending was held back last month as the spread of Omicron and restrictions to tackle it took their toll on shopping and partying, new industry data shows. Figures from the British Retail Consortium (BRC) and a separate monthly report from Barclaycard revealed how the COVID variant – and measures to tackle …
Business
Euro News
Bitcoin drops below $40,000 for first time since September after Fed spooks investors
Business
Sky News
Bitcoin slides to five-month low amid wider sell-off
Bitcoin has fallen below $40,000 (£29,480) to hit its lowest level since August amid a wider sell off in risk assets – including some of the tech sector’s top names.The world’s biggest cryptocurrency briefly dipped to as low as $39,558 (£29,154) as it fell by more than 5% on Monday, adding to a slide seen …
Business
Evening Standard
Tread carefully: recycling firm pushes ahead with £100m tyre plant
London-based Wastefront has signed a deal with French engineer Techip Energies to design and build a £100 million tyre recycling plant in the North-East.The facility in Sunderland will create 160 jobs when it opens in 2024 and is intended to become a blueprint for similar plants around the world to tackle a significant, but relatively …
Business
Sky News
Energy bills: Windfall taxes have been tried before – but could such a move backfire?
Windfall taxes are in the spotlight after Labour’s call for one on North Sea oil and gas producers to support relief for hard-pressed households with their energy bills.The proposal has been treated with scepticism because, with North Sea oil production already in decline, it would risk deterring investment in the sector. Oil and Gas UK, …
Business
Sky News
Hundreds of jobs at risk as Wilko plans to shut stores with expensive leases
Retailer Wilko has revealed plans to close 15 stores this year, placing hundreds of jobs at risk.The firm said the stores affected will close as leases end and favourable terms cannot be agreed, adding it will not affect its new openings or stores relocation programme. The GMB union, which warned that the decision threatened more …
Business
Sky News
Rolls-Royce Motor Cars immune from global chip shortage after record year for sales
The chief executive of Rolls-Royce Motor Cars (RRMC) has told Sky News the company expects to continue to be immune from the global shortage of semiconductors holding back the wider car industry.Torsten Müller-Ötvös was speaking after the BMW-owned but Goodwood-based luxury marque revealed a record set of annual sales figures for 2021 – the best …

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