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Sky News
Toyota says COVID and chip shortage will hit car production in 2021-22
Toyota has revealed a further big hit to its production expectations as it battles COVID absences and chip shortages at factories.The world’s largest carmaker said it now expected to make half a million fewer vehicles in its current financial year to the end of March. The figure of 8.5 million – down from a previously …
Business
Sky News
Costs, paperwork and delays the ‘only detectable impact’ of Brexit for businesses so far, report says
Higher costs, more paperwork and border delays have been “the only detectable impact so far” of Brexit for British businesses, according to a new report by MPs.Trade volumes have been suppressed since the end of the transition period in December 2020 – though the COVID-19 pandemic and wider global issues were also key factors, the …
Business
Evening Standard
Eurotunnel freight traffic bounces back despite increased Brexit red tape
Business
Sky News
No US takeover for UK chip designer Arm – but could it be destined for Wall Street?
After almost 18 months of prevarication, the US chip manufacturer Nvidia has bowed to the inevitable and abandoned its proposed $66bn acquisition of Arm Holdings, the UK-based chip designer.The move is an acceptance that the controversial takeover was never going to get past regulators in the United States, the EU, the UK and China. Nvidia …
Business
Sky News
Pfizer sees revenues double to $81bn thanks to COVID-19 vaccine
Drugs giant Pfizer has doubled annual sales and profits thanks to its COVID-19 vaccine.The US firm said revenues rose from $41.7bn in 2020 to $81.3bn last year, largely thanks to the vaccine, known as Comirnaty – which accounted for $36.8bn of the total. Profits climbed from $9.2bn to $22bn. Image: Pfizer’s antiviral pill aims to …
Business
Sky News
Peloton cuts 2,800 jobs with even the boss told to get on his bike as sales crash
Peloton, the connected exercise bike and treadmill provider, has announced plans to drastically cut costs including 2,800 job losses – with even its chief executive being told to get on his bike following a plunge in performance.The firm – which enjoyed soaring demand for its subscription products during COVID crisis lockdowns – said it was …
Business
Evening Standard
The best way to reform BP: buy more of the shares
Business
Sky News
Energy regulator faces heat over £200m in credit balances ‘missing’ after supplier failures
The energy regulator has told MPs that it estimated around £200m in household credit balances was lost through the failures of energy companies over the past year – with up to £10 set to be added to rocketing bills as a result.Ofgem chief executive Jonathan Brearley made his remarks as the business, energy and industrial …
Business
Sky News
Around £200m in customer credit balances ‘missing’ after energy supplier failures
The energy regulator has told MPs that it estimated around £200m in household credit balances was lost through the failures of energy companies over the past year – with up to £10 set to be added to rocketing bills as a result.Ofgem chief executive Jonathan Brearley made his remarks as the business, energy and industrial …
Business
Business Live
Principality Building Society commits to keeping all its branches open
Principality Building Society has committed to keeping all its branches and agencies open until at least the end of 2025. The Cardiff headquartered mutual has the largest high street brand presence of any bank or building society in Wales. It has 53 branches and 14 agencies – although some are just over the border in …
Business
Business Live
Greggs to launch ‘tasty’ clothing range in link up with Primark
Retail giants Primark and Greggs have announced a unique collaboration which will see the launch of a clothing collection – and the world’s biggest Greggs cafe. The high street favourites have come together to release a new 11-piece clothing range, which will go on sale in 60 Primark stores across the UK later this month. …
Business
Business Live
East Midlands commercial property investment doubles to nearly £2.3bn in 12 months
The amount invested in commercial property across the East Midlands doubled to almost £2.3 billion last year compared to a year earlier. Figures from commercial real estate specialist Innes England suggested the amount spent was also more than 70 per cent above the five year average. The growth has been put partly down to the …

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