Tata demands £500m from UK to build battery factory March 1, 2023 The government will have to cough up £500m in taxpayer funds if it wants Jaguar Land Rover owner Tata Motors to build a UK battery factory.
FTSE 100 close: Anglo American and Antofagasta receive China boost but Barratt drops after house price slide March 1, 2023 London’s FTSE 100 sprung higher today, propelled by investors piling into commodity giants after a batch of better than expected data indicated the Chinese economy is on the mend. The capital’s premier index flung 0.49 per cent higher to back above the 7,900 point mark, while the domestically-focused mid-cap FTSE 250 index, which is more [...]
Manchester beats London, as capital’s hotels struggle to return to pre-pandemic occupancy levels February 27, 2023 Manchester has trumped London in hotels occupancy levels for January, as the capital struggles to return to pre-pandemic levels. According to data by STR, a division of CoStar Group, occupancy rates in London were down six per cent in January to 65.1 per cent compared to 71.1 per cent by 6.0 per cent during the [...]
British Steel confirms 260 jobs at risk amid coke oven closures February 22, 2023 British Steel announced 260 jobs are at risk amid proposals to close its coke ovens at its plant in Scunthorpe. The firm said the UK remains “uncompetitive” compared to rival markets with energy and carbon costs “some of the highest” globally. It said it had seen a £190m rise last year and the facilities were [...]
BHP profits dive £2.6bn as world’s largest miner falls victim to China’s pandemic restrictions February 21, 2023 BHP has suffered a heavy decline in profits, following pandemic restrictions in China and reduced demand for iron ore.
Let the payouts commence: As HSBC profits top £4.3bn, banking giant looks likely to appease Asian shareholders February 21, 2023 HSBC promised large payouts in 2023 to appease activist shareholder Ping An after comfortably beating market expectations in the final quarter of 2022. HSBC’s pretax profit for the final quarter nearly doubled to $5.2bn (4.3bn), beating market expectations of $5bn. This brought the bank’s total profit for 2022 to $17.5bn, seven per cent lower than [...]
Punk IPA will be sold in ‘every corner of China’ following BrewDog Budweiser partnership February 20, 2023 The joint venture will see the Scottish craft beer company sell its most popular brands such as Punk IPA and Elvis Juice across the country from March 2023.
OPEC+ decisions not politicised, Saudi energy minister insists February 20, 2023 Decisions by OPEC+ are not politicised, argued Saudi Arabian energy minister Prince Abdulaziz bin Salman.
Week ahead: UK January borrowing bill to hit £5bn to pay for cost of living support, experts predict February 19, 2023 Britain is expected to have borrowed around £5bn last month, largely to pay for household energy support, new figures out from the Office for National Statistics (ONS) this week are poised to show. The difference between what the government spends and takes in tax revenue – the deficit – is likely to have been kept [...]
Oil prices to stay high this year on China reopening and OPEC output snags, experts predict February 19, 2023 Oil prices will be propped up this year by rebounding demand from China alongside tightening supplies into Europe and OPEC's capacity issues.