Oil prices remain firm as China considers easing Covid-19 restrictions October 20, 2022 Oil prices have risen slightly on both major benchmarks, amid reports China is considering easing Covid-19 quarantine measures.
UK borrowing costs cool after Truss quits as shortest serving PM ever October 20, 2022 UK borrowing costs scaled lower today after Liz Truss exited as the shortest serving prime minister on record at 44 days. Yields on the 10-year gilt dropped around 27 basis points to 3.8 per cent after Truss resigned in the early afternoon. They had been trending higher during early trading. Rates on the 30-year gilt, [...]
Booming oil and gas prices power Woodside Energy to record revenues October 20, 2022 Woodside is revelling in record revenues, powered by firmer energy prices and its merger with BHP Group's petroleum assets.
Absolut vodka maker Pernod Ricard cashes in on hospitality return October 20, 2022 Spirits giant Pernod Ricard posted fizzing sales for the first quarter after the return of international holidays has spurred spending in pubs and bars. Sales grew 22 per cent, as the Absolut vodka maker raked in €3.3bn in revenue, surpassing its forecasts. Tourists spending cash at bars and restaurants had boosted trade in Europe, following [...]
Three quid from the Grid? Households encouraged to use more off-peak power October 20, 2022 The National Grid will offer households a hefty £3 per kwh to shift their electricity usage to off-peak times.
AT&T’s pivot away from media and towards telcos starts paying off October 20, 2022 Shares soared for AT&T this afternoon as the firm’s enhanced focus towards telecoms appears to be paying off. The telcos giant posted an adjusted profit of 68 cents per share on revenue of $30bn in its third quarter, topping to the 61 cents and $29.86bn analysts had predicted. The third largest provider of mobile phone services in the US [...]
Doubts cast over 31 October fiscal statement after Truss resignation October 20, 2022 There are growing doubts over whether the fiscal statement will be delivered on 31 October following Liz Truss’s resignation as prime minister today after just 44 days in office, City A.M. understands. Truss’s exit has triggered a second Tory leadership race this year that is expected to yield a new prime minister on 28 October, [...]
Ovo Energy makes eleventh hour bid to snatch Bulb from rival Octopus October 20, 2022 Ovo Energy has launched a last gasp bid to snatch Bulb Energy (Bulb) from the tentacles of rival supplier Octopus Energy.
IT industry is ‘recession-proof’ as businesses look to cut costs October 20, 2022 The IT industry is “recession-proof”, according to a top analyst at market research giant Gartner, despite economic downturns pushing businesses to trim costs. Global spending on IT, which includes software, devices, communications services and data centres, is forecast to total $4.6 trillion in 2023 – a jump of more than five per cent in comparison [...]
Boris Johnson expected to run in the Tory leadership contest October 20, 2022 Boris Johnson is expected to stand in the Tory leadership contest next week, with sources close to him saying he thinks it’s in the “national interest” for him to run. The Times is reporting that Johnson’s allies are taking soundings within the Tory parliamentary party and that he will likely put himself forward as a [...]