Business

Rishi Sunak has denied that his economic plans will lead to a new round of UK austerity. However, the official fiscal watchdog has warned that his tax-cutting strategies assume a significant squeeze on overstretched public services. The…

There is increasing pressure on the Scottish government to save its only oil refinery Owners of Scotland's only remaining oil refinery Grangemouth have lost more than £1bn over the past 12 years. The looming shutdown, combined with…

The recent collapse of the well-known retailer Wilko has led to a significant development as key figures of the former management team are set to face a parliamentary inquiry. The call for questioning comes from MPs belonging to the…

Elon Musk has branded the escalating Swedish strike against Tesla as "insane", as it threatens to disrupt Tesla's operations across Europe. Last month, about 130 mechanics from Sweden who are members of the IF Metall trade union and work…

Kingfisher, the owner of B&Q, has issued its second profit alert in just six months following a drop in sales in France. The DIY retailer has cut its profit expectations for the year again by £30m , now expecting adjusted earnings of…

Official data shows that for the first 12 years, more businesses are closing than opening. The number of companies closing their doors increased by 5pc on an annual basis to 345,000 in the last year. This is a record high for…

Huel's boss said that he would be open to selling the meal replacement manufacturer, but admitted that the waning initial public offering (IPO) market in the UK has made it less appealing. James McMaster, the chief executive of Huel…

KPMG's UK partnership is now less than half that of PwC, after the firm has lost its top ranking for the fourth consecutive year due to regulatory fines. The number of equity partner at the Big Four company, who own and share the profits…

London Stock Exchange Group Plc announced that it would execute £1 billion ($1.2billion) in buybacks for the next year. The company also increased its guidance, and revealed changes to its report structure. In a announcement accompanying a…

Insiders in the government have confirmed that the Cyprus Police force is investigating an oligarch's attempt to transfer a £1bn share of a public company, on a day when he was under EU sanctions. The news of the involvement by the…

FTSE 100 CEOs have warned that Jeremy Hunt needs to end the "vicious cycle" of Britain’s stock market decline. Julia Hoggett is the chief executive officer of the London Stock Exchange. She, along with the members of the Capital…

Asda paid off £300m in debts, as its billionaire owners raced to reduce borrowing levels throughout their business empire. The supermarket has cleared a £200m debt it took on to purchase 132 convenience stores from The Co-op in the…

After spiraling costs cast doubt on its viability, the UK's largest offshore wind developer has been in discussions with Net Zero Secretary Claire Coutinho regarding the fate of their flagship project off of the coast of Norfolk.…

Sydell Group, according to sources with knowledge of the situation, is considering selling its NoMad Hotels franchise. They asked not to be named because they were discussing internal issues. The people stated that the negotiations are…

Emirates opened the Dubai Airshow by purchasing Boeing aircraft worth £42bn, demonstrating how aviation has recovered after the pandemic of coronavirus, even though Israel's conflict with Hamas has clouded regional security. Sheikh Ahmed…

A cash crunch has hit the main supplier of print to Britain's high-street banks. The future for the paper bank statement could be at risk. Lloyds is leading a rescue effort led by the finance industry to save Leeds' Communisis, but this…

Accounting bodies warned that most of the UK's plans for overhauling the supervision of anti money laundering rules would be counterproductive and harmful to the fight against dirty cash. A group of 13 accounting organizations wrote to…

Walt Disney Co. stocks jumped after it reported a higher-than-expected net profit and pledged to cut another $2 billion in expenses. Disney announced on Wednesday that the fiscal fourth-quarter earnings increased to 82 cents per share,…