Companies

Elon Musk announced on Tuesday that X and SpaceX would be moving their headquarters to Texas in response to a gender identity law passed by California. This is a major blow to Silicon Valley, as the billionaire has been at odds with…

Ocado's boss said that the company is committed to its London listing, even though it was relegated earlier this year from the FTSE 100. Tim Steiner said that he did not plan to take the online grocery group private or move its listing…

Carpetright is for sale, which could result in hundreds of closures of stores and the loss thousands jobs. PwC has been appointed to launch the formal sale process by the flooring retailer. The company, which has over 3,000 employees and…

Water companies and regulators are at odds over a £16-billion cut in infrastructure spending, while households see their water bills rise by £94. Ofwat is accused of sabotaging efforts to clean waterways, after it trimmed investment…

Shein, an online fast fashion group planning to list in London, has launched a €200mn “circularity fund” that, according to its executive chair, will address fashion waste. This comes amid concerns over the sustainability of the brand.…

Saudi Aramco, the world's biggest oil company, is betting that the internal combustion engines will last for "a very, very long time". The company sees a potential business opportunity in the growth of electric cars. Last month, the…

Ocado Group is planning to build a robotic third warehouse with its Japanese retail partners. The online supermarket group and technology company announced that it would expand its partnership with Aeon - Japan's largest grocery retailer…

Royal Mail is preparing to reduce more freight flights this month. Martin Seidenberg is the CEO of International Distribution Services and plans to "make the biggest network change in twenty years" for Royal Mail deliveries, despite the…

The employee share scheme of Britain's largest supermarket chain is set to pay out more than £30million in total. Tesco announced that over 20,000 employees, who work mainly in its stores and warehouses, will benefit from the growth of…

Marks & Spencer faces shareholder concerns over its annual dividend of just 3p, despite paying millions of pounds to its top executives in bonuses. At the retailer's annual meeting, held on Tuesday evening, several investors…

Boeing has agreed with Spirit AeroSystems to purchase the company in an all-shares deal worth $4.7 billion as it attempts to overcome its production crisis. Spirit, a Boeing spin-off from 2005, manufactured the door plug on a 737 Max 9…

The proposed Japanese takeover by Graphcore of the British artificial-intelligence company is being reviewed for national security reasons amid concerns that foreign investors are targeting UK technology. SoftBank, a Tokyo-based…

Tata Steel is facing a £500-million loss from its shocking decision to close its Port Talbot plant earlier than planned. The bosses are scrambling to reach a last-minute deal. The Indian-owned firm has decided to delay plans to take a…

Nursery and garden centres in Britain and Europe warned that the new border posts after Brexit are not functioning properly, causing delays, damage, and extra costs to importers of plants. The Horticultural Trade Association (HTA), which…

Boots, the struggling US-owned chemist chain, has for the second consecutive time abandoned plans to sell its multi-billion pound assets. This puts the high street chemist in danger of further cuts on investments. Walgreens has abandoned…

In an apparent effort to appease investors unhappy with BP 's green goals, the head of BP imposed a hiring ban and halted all new offshore wind projects. Murray Auchincloss was BP's former Finance Chief and took on the role of in January…

Tata Steel told its workers that it may have to close down the steel plant at Port Talbot earlier than expected due to a strike. The company planned to close one blast furnace by the end June, and the other by September. Tata has told…

Analysts suggest that other bidders may come forward soon. Shares of the UK food delivery service Deliveroo rose after reports that US rival Doordash had held takeover discussions with the company. Reuters reported that Doordash…