Tata Steel: Plans submitted for new electric arc furnace in Port Talbot November 7, 2024 Tata Steel has submitted a planning application for a new electric arc furnace at its Port Talbot plant. The Indian steel manufacturer wants to build the new state of the art furnace after it closed its blast furnaces in September, cutting 2,000 jobs. Tata says the move would be a “significant step in the company’s [...]
Festive advertising set to reach record high this Christmas November 7, 2024 Corporate spending on advertising is set to reach a record high this Christmas as brands look to cash in on consumers’ appetite for festive storytelling. Companies are set to spend a record £10.5bn in the UK on advertising over the Christmas season, according to industry trade body the Advertising Association and data provider WARC. Many [...]
Sainsbury’s: FTSE 100 retailer warns Reeves’ budget may push up food prices November 7, 2024 Chief executive of Sainsbury’s Simon Roberts has warned that Reeves’ decision to increase employer’s national insurance contributions (NICs) by 1.2 per cent to 15 per cent next April could lead to price inflation. Sainsbury’s has estimated the cost of the change at £140m, according to the Guardian. “This industry operates on very low margins, and there just [...]
Labour must get Trump relationship right to avoid tariff chaos, Stride warns November 7, 2024 Shadow Chancellor Mel Stride has said that it is essential for the Labour government to develop a good relationship with Donald Trump in a bid to avoid the damaging impact of any potential trade tariffs. The incoming US president has said he may put tariffs of 10 to 20 per cent on countries such as [...]
Bank of England cuts interest rates but warns Budget will stoke inflation November 7, 2024 The Bank of England's rate decision comes just a week after the Budget.
Wizz Air profit tumbles as engine issues ground fleets November 7, 2024 The Hungarian budget airline reported a 21.3 per cent dip in net profit to €315.2m (£262.7m) over the six months to 30 September.
Property prices hit record high as analysts warn rise will continue November 7, 2024 House prices have hit a record high as analysts suggest higher demand has come up against a continued shortage in the housing supply. The cost of the average UK home reached £293,999 in October, the highest ever recorded, outstripping the £293,507 reached in June 2022, according to Halifax. The 0.2 per cent rise is the [...]
Thames Water backers table £3bn debt offer in scramble to shore up finances November 7, 2024 A group of Thames Water’s bondholders have tabled a £3bn debt offer to the beleaguered firm today as it scrambles to shore up its finances.
National Grid profit rises by a quarter following £7bn equity raise November 7, 2024 Chief executive John Pettigrew said on Thursday the group's £60bn investment plan was continuing "at pace."
Taylor Wimpey: Higher demand buoys sales as firm preps for planning reform November 7, 2024 After a tough start to the year, Taylor Wimpey has reported signs of improving customer demand as mortgage rates fall and affordability pressures ease. The housebuilder said it remained on track to deliver UK volumes in line with previous guidance of 9,500 to 10,000 homes and operating profit consistent with current market expectations. In the [...]
