Dreams of ‘future drinking’ bolsters wine merchant Berry Bros November 7, 2022 THE UK’s oldest fine wine merchant Berry Bros & Rudd said profitability soared this year, as wealthy collectors keep their eyes on “future drinking” through hard economic times. The family-owned business said turnover climbed 7.2 per cent to £220.2m in the year to March 2022, whilst EDITDA rocketed 107 per cent. Berry Bros, which also [...]
More trouble for Black Friday as DS Smith workers vote to strike November 7, 2022 Workers at packaging giant DS Smith voted in favour of strike action this afternoon, adding further pressure on the likes of Amazon in the run up to Christmas. The GMB union said that almost 1000 staff voted for action, adding that the move could have “serious implications” on household names like Amazon who rely on [...]
Britishvolt: We did not enter the EV battery market ‘in a race to the bottom’ November 7, 2022 Beleaguered battery darling Britishvolt has said that comparing the price points for Chinese and British electric vehicle (EV) batteries is like “comparing apples with pears and not a fair reflection”. The firm responded to claims made by an unnamed potential customer, quoted in The Telegraph yesterday, that its lithium-ion batteries were up to a third [...]
British households have been worst affected by economic downturn within OECD November 7, 2022 British households have been worst affected by the global economic downturn amongst richer nations according to new figures released today. The United Kingdom GDP’s since the fourth quarter of 2019 dropped to -1.2, the lowest out of the seven nations, while its real income fell by -3.5, also the lowest. The figures were published by [...]
Lenders need to ‘step up’ to support customers, says FCA chief November 7, 2022 The City watchdog said that lenders need to “step up” to support their customers today as they are battered by soaring mortgage rates and rising prices this year.
Lithium group backs Britain’s green energy transition with new refinery November 7, 2022 A battery-materials start up has chosen Teeside, to build its new lithium refinery in a post-Brexit vote of confidence for the UK.
Threat of ‘catastrophic’ cyber attack requires new approach from insurers, new report says November 7, 2022 The potential for a state-backed cyberattack to have a “catastrophic” impact on society requires a new approach to cyber insurance, reinsurance giant Swiss Re has said. The digitalization of critical infrastructure has created a situation in which a large scale cyberattack could have a “devastating” effect on society in having the potential to interrupt the [...]
North Sea industry set to be dominated by major oil and gas players November 7, 2022 The North Sea will become dominated by oil and gas majors, revealed forecasting specialist Welligence Energy Analytics.
This Week’s Financial Markets November 7, 2022 | City Talk Looking back to last week, we had a busy week on the calendar. Kicking off the Central Banks was the RBA on Tuesday morning who hiked rates for the 7th consecutive meeting, by 25bps, but sparked some speculation that they could in fact end their hiking cycle earlier than expected. However, with the YoY Trimmed [...]
Government must investigate energy pricing for businesses, urges hospitality body November 7, 2022 The boss of one of the country's leading hospitality bodies has urged the Government to look into energy pricing for commercial businesses.