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Financial
Coffee machine sales surge as prices of takeaway latte rise
Demand for home espresso machines has increased due to the rising cost of coffee taken away.
Alex Baldock said that shoppers are increasingly making their own coffee at home due to higher prices in chains.
He said: "Many customers say…
Thames Water boss admits that the company doesn’t have sufficient money to repay debt
The boss of Thames Water, a struggling utility company, has admitted that the company does not have the money to repay its debts before a deadline looms.
The UK's biggest water supplier has £1.4bn in external debt due in the next few…
First time in more than a decade, the use of physical money is on the rise
For the first time since at least a decade the use of physical cash is increasing, as households are returning to coins or banknotes for managing their finances during the cost-of living crisis.
According to the British Retail…
The UK Government offers £2.5bn for the stabilisation of Northern Ireland’s finances
The UK government offered Northern Irish political groups a package of financial stabilization measures totaling more than £2.5bn for five years, contingent on the return to Stormont of the Stormont executive.
Party leaders met with…
Jay Powell is under pressure to present a plan for US rate cuts
Federal Reserve Chair Jay Powell is facing a difficult balancing act to maintain flexibility within the US central banks policy plans, despite intense pressure from the US government to reveal the date and amount of interest rate cuts…
Cigna cancels blockbuster insurance deal with Humana
According to sources familiar with the situation, US health insurer Cigna abandoned plans to merge Humana. This would have created an insurance giant worth $140bn.
The merger would have been largest deal of the year. Cigna's decision was…
Thames Water must answer questions from Ofwat regarding dividend payments
Ofwat questioned Thames Water about how it could justify paying a dividend of £37.5 million to its parent company without breaking rules meant to safeguard consumers and the environment.
The water regulator announced that it was…
Bank of England warns of risks associated with private credit and leveraged loans
The Bank of England has warned that private credit and leveraged loan markets are vulnerable to "sharp" revaluations. This is its latest warning about the risks in non-bank financing.
The BOE Financial Policy Committee warned about…
The Issa brothers, who are billionaires, have sold off KFC to reduce their debt.
The billionaire Issa Brothers, who own Asda, agreed to sell more than 200 KFC restaurants as part of their plan to reduce their large debt.
EG Group has announced that it will sell its 218 KFC franchises located in the UK and Ireland, to…
BlackRock: World entering a new era with low growth and high rates of interest
BlackRock, world's biggest asset manager, says that the world has entered a new age of low growth rates and high interest rate.
The report warned that will be more volatile in coming years, and that economies cannot grow as fast as they…
Thames Water investigated for financial stability and dividends
Thames Water faces new scrutiny by lawmakers and regulators regarding its financial state.
Ofwat said on Tuesday that it is investigating the £37.5mn in dividends paid by Britain's largest water company in October. MPs want to talk to…
CBI warns UK retailers to prepare for disappointing Christmas sales
The CBI's Distributive Trades Survey found that British retailers are bracing themselves for a disappointing holiday after they registered a decline in sales of 7.4% year-on-year in November.
In the year up to November, sales volumes…
Lloyds digital shift threatens thousands of jobs
Lloyds Banking Group is preparing to restructure their business in order to focus more on digital services.
A person with knowledge of the situation says that the bank will be reviewing thousands of middle management positions. This…
Shell and BP could need US$ 945 billion in order to achieve net zero energy major
Shell and BP could need US$945 Billion to become net-zero energy major
Investors who are proactive - Shell PLC or BP PLC may need to spend US$35billion every year to stay a'major energy company' until 2050.
In order to achieve net…
B&Q’s owner Kingfisher issues a second profit warning due to falling demand overseas
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…
ONS: For the first time in twelve years, ONS reports that more businesses are closing than opening…
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…
Binance to pay $4bn in settlement for US criminal investigation
The US Department of Justice wants more than $4bn to settle with Binance a criminal probe that has caught the world's largest cryptocurrency exchange, and its cofounder.
A person with knowledge of the deal said that it would end a…
The cost of football injuries to clubs in the Qatar World Cup season was $767 million
After the Winter World Cup in Qatar, injuries to European footballers increased. This led to an annual increase of nearly 30% in the costs to clubs for their players to be sidelined.
A report from City of London-based insurance company …