Rio Tinto rocked by weaker commodity prices as it reports steep downturn in profits February 22, 2023 Higher energy costs, inflation, and downward pressure on commodity prices has weighed on profits at multinational miner Rio Tinto.
Bentley to end production of 12-cylinder petrol engine as luxury car maker is latest in shift to EV February 22, 2023 Bentley will end production of its famed 12-cylinder petrol engine in April next year, the luxury car maker has announced. More than 100,000 examples of the W12 engine have been built at the company’s factory in Crewe, Cheshire over the past 20 years. The decision to halt production is part of the business’s move to [...]
Lloyds Bank: Shares fall after bumping up ‘bad loan’ recession provisions February 22, 2023 Lloyds Bank reported that higher interest rates offset the money set aside to cope with loan defaults during the final quarter of 2022, but disappointed the market with yet more conservative guidance on net interest margin for 2023. Lloyds recorded a pretax profit of £1.8bn during the quarter, in line with company-compiled consensus and over [...]
UK risks falling behind US and EU in green energy race, warn MPs February 22, 2023 MPs are piling pressure on the government to compete with rival markets for green energy investment, such as the US and EU.
Wizz Air named worst short-haul airline by UK passengers February 22, 2023 Wizz Air has been named the worst short-haul airline by UK passengers. Passengers surveyed by consumer group Which? gave the Hungary-based carrier one star out of five for boarding experience, cabin environment and seat comfort. The budget airline’s seat pitch – the difference between two rows in standard economy – is 28 inches, some two inches smaller [...]
Growing ‘valley of death’ funding gap could scupper UK tech ambitions, industry bosses warn February 22, 2023 A growing ‘valley of death’ funding gap facing the UK’s tech sector could scupper the government’s Silicon Valley ambitions as firms struggle to raise cash and fuel growth, tech investors have warned. Venture capital funding into the UK faltered last year amid a global slowdown as soaring inflation and market volatility caused investors to pull [...]
Britain’s out-of-touch police need an information system that wasn’t alive in the 1970s February 22, 2023 The police are doing the best they can - but it won't be enough as long as they're obliged to operate with an information system that's completely outdated, writes Rosie Beacon
Yoga for the many? Offering prices at a sliding scale relies on trust for profits February 22, 2023 Big pharma, hardly a stalwart of social equity, has been offering sliding scale payment for years and now purpose-driven businesses are trying to prove goodwill can pay the bills, writes Sascha O’Sullivan
Sports clubs defy the normal rules of markets and won’t bend to a football watchdog February 22, 2023 Popularity of sports club is driven by their performance on the field, not by their financials. The very best efforts of a football regulator wouldn’t be able to change the way cultural markets work, writes Paul Ormerod.
Record 150,000 new firms founded by women last year, Natwest report reveals February 22, 2023 A record 150,000 new firms were founded by women last year, according to a major review by Natwest chief executive Dame Alison Rose. New figures outlined in the Rose Review Progress Report for 2022 show female entrepreneurs started twice as many companies last year as they did in 2018, despite the challenging economic environment. There [...]
