headline picture.

Business



All information from this site is pulled from various RSS feeds, if you have any suggestions for information please contact us.

UK homepage

European bond market hit by Italy’s plans for higher borrowing (13 hours old)

Yields reach highest level in a decade as investors’ deficits worries add fuel to sell-off

From black to red zero in Germany? Don’t bank on it (12 hours old)

Berlin has tightened deficit discipline as ‘bond vigilantes’ return

How high, and for how long? (9 hours old)

Are markets finally making their peace with a new interest rate reality?

Will Britons accept burying nuclear waste in their backyard? (13 hours old)

People in Lincolnshire are divided about the case for an underground disposal facility for radioactive material

How Ajay Banga can ‘stretch’ the World Bank’s balance sheet  (12 hours old)

The new president will need private investors to back his wider list of global goals

South Africans’ support for Russia is rooted in misplaced nostalgia  (16 hours old)

Condemning Moscow does not mean unthinking adherence to the west

US stocks rally as oil price retreats from recent high (7 hours old)

Brent crude eases from 10-month peak after surge in previous session

US accuses China of launching global information war (9 hours old)

State department says Beijing is using ‘deceptive’ methods to push authoritarian propaganda

China looks to relax cross-border data security controls (8 hours old)

Draft rules from cyber regulator aim to stem concerns over transfer of foreign business data

© Copyright The Financial Times Ltd 2023. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Business | The Guardian

Average income of Deloitte UK partners tops £1m for third year in a row (6 hours old)

Payouts rose by 5% after operating profits increased to £756m and pension advisory business was soldThe average income of Deloitte’s more than 640 equity partners in the UK rose to £1.1m this year, despite a recent slowdown in spending and company deals.Deloitte UK said revenue grew 14% to £5.6bn in the year to May, as buoyant markets in the first six months of its financial year bolstered demand for audit and advisory work. It helped offset the “increased caution” among more cash-strapped clients and a slowdown in merger and acquisition activity in the months that followed. Continue reading..[...]

Energy bills: don’t break promise on social tariff, Sunak urged (6 hours old)

Martin Lewis and Citizens Advice among those telling PM poorer Britons must get help, as industry source calls idea ‘unworkable’More than 140 organisations and individuals, including the consumer champion Martin Lewis, have told Rishi Sunak to make good on a promise to help Britain’s least well-off households with a social tariff for their gas and electricity.The group has written to the prime minister reiterating calls to fulfil a government pledge to help vulnerable households with a discounted rate for energy bills before the last remaining support schemes come to an end in April. Continue [...]

Most new cars sold in UK will have to be fully electric by 2030, government confirms (13 hours old)

Green campaigners relieved after last week’s decision to delay ban on petrol and diesel carsThe government has confirmed the majority of new cars sold in Britain will have to be electric by 2030 despite Rishi Sunak’s decision last week to delay a ban on petrol and diesel cars by five years.Under the long-awaited zero emissions vehicle (ZEV) mandate, 80% of sales must be fully electric, or another alternative, within seven years. Carmakers would have to pay £15,000 for each petrol or diesel engine above that threshold, the Department for Transport said on Thursday. Continue reading...

John Lewis looks at sale and leaseback of 12 Waitrose supermarkets (13 hours old)

Retail chain hopes to raise £150m to fund store updates and invest in online operationsJohn Lewis is looking into raising £150m from the sale and leaseback of a dozen Waitrose supermarkets to fund investment in updating the business.The staff-owned retailer, which this month announced a half-year loss of £59m, wants cash to update stores, improve prices and invest in online operations, including expanding online grocery deliveries. Continue reading...

Europe’s olive oil supply running out after drought – and the odd hailstorm (14 hours old)

Heatwaves around Mediterranean have damaged harvests and forced producers to import from South AmericaEurope has almost run out of local olive oil supplies and is set for more shortages, after extreme weather damaged harvests for a second year.The world’s largest producer has said it is having to import supplies from South America to keep up with demand. Continue reading...

Evergrande founder ‘being investigated for suspected crimes’ (11 hours old)

Chinese group’s statement about chair Hui Ka Yan piles on the woe for once top-selling property developerThe founder of China’s Evergrande is being investigated over suspected “illegal crimes”, the group has said, as creditors become increasingly concerned about the prospects of the world’s most indebted property developer.Evergrande Group, which has more than $300bn (£245bn) in total liabilities, did not say whether Hui Ka Yan was still in a position to run the company, or what crimes he was being investigated for. Continue reading...

People with HIV offered hope of self-injected drug at home (15 hours old)

GSK-controlled company works on developing patient-administered treatment by end of the decade One of the world’s largest commercial developers of HIV drugs is working on a treatment that can be injected by patients at home every two to three months by the end of the decade, saving them frequent visits to the clinic.ViiV Healthcare, a GlaxoSmithKline-controlled joint venture, makes 17 prescription HIV medicines, including the long-acting treatment cabotegravir, which was first approved in the US in January 2021. Continue reading...

Big European insurers ‘underwrite 30% of US coal despite net zero pledges’ (17 hours old)

Lloyd’s of London, Zurich and Swiss Re among top 10 insurers of largest US coalmines, study findsLloyd’s of London and other big European insurers are underwriting almost a third of US coal production despite their net zero pledges, according to research, with the Lloyd’s insurance market emerging as the second-biggest player.A report from the Insure Our Future campaign group found that Lloyd’s, Zurich and Swiss Re are among the top 10 insurers of the 25 biggest US coalmines, which produced more than 60% of the country’s output last year. They underwrite 13 mines producing 30.7% of US coal. Co[...]

Sunak skirts more than a dozen questions over future of HS2 (18 hours old)

PM remains tight-lipped about rail project’s Manchester leg and says his focus is on potholes and local busesUK politics live – latest updatesRishi Sunak has refused more than a dozen times to provide clarity over HS2’s future, but denied that scrapping the Birmingham to Manchester leg would be a betrayal of the north of England.Despite two weeks of uncertainty over the remainder of the project, the prime minister remained tight-lipped on whether HS2 would be pared back in a series of BBC local radio interviews spanning stations from Shropshire to Teesside. Continue reading...

Average five-year fixed mortgage rate in UK falls back below 6% (17 hours old)

First time since early July that average rate has been below 6%, with some deals now under 5%The average new five-year fixed mortgage rate has fallen back below 6% for the first time since early July, according to the sector’s leading data provider.Across all deposit sizes, the typical five-year fixed residential mortgage rate on sale is now priced at 5.99%, Moneyfacts said, down from 6.03% on Wednesday. Continue reading...

Guardian News and Media Limited or its affiliated companies. All rights reserved. 2023

Telecoms

Sky suffers mobile outages in push to strip Huawei from UK 5G networks (1 hour 41 minutes old)

Industry executives have warned for years about disruption for consumers

BT/Drahi: financially feasible does not mean politically advisable (1 day old)

The French telecoms tycoon’s motives remain as opaque as ever

Altice looks to borrow for first time since co-founder’s arrest (1 day old)

Empire built by Franco-Israeli billionaire Patrick Drahi is seeking €500mn from investors

Telefónica/STC: Spanish deal spreads risks and builds soft power (22 days old [06/09/23])

Saudi telecoms group follows in footsteps of Gulf rivals as it seeks to spread its wings internationally

Spain to defend ‘strategic interests’ after Saudi telecoms group buys Telefónica stake (22 days old [06/09/23])

STC’s move on Spanish company marks latest foray by state-owned Gulf groups into Europe

Virgin Media O2 buys Russian-backed broadband provider (22 days old [06/09/23])

Investment company LetterOne was forced to sell the business on national security grounds

India’s communications ‘backdoor’ attracts surveillance companies  (30 days old [30/08/23])

Little-known Israeli groups emerge as key providers of tracking equipment installed at subsea cable stations

UK telecoms groups under fire for adding inflation ‘premium’ to bills (32 days old [28/08/23])

Industry defend price rises as Britons face highest tariff hikes in Europe

Safaricom’s mobile money rollout in Ethiopia marks moment for ‘last frontier’  (33 days old [27/08/23])

Privatisation wave makes country of 120mn people a tempting target for digital services

Huawei agrees long-term patent deal with Ericsson despite western curbs  (34 days old [25/08/23])

Agreement gives Chinese group a boost after being subject to bans in Europe and the US

© Copyright The Financial Times Ltd 2023. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Technology sector

Sky suffers mobile outages in push to strip Huawei from UK 5G networks (1 hour 41 minutes old)

Industry executives have warned for years about disruption for consumers

UK pushes for greater access to AI’s inner workings to assess risks (1 hour 41 minutes old)

Government officials keen to understand fast-evolving technology ahead of a global summit

Linda Yaccarino set to present new plan to long-suffering X bankers (8 hours old)

Social media CEO will meet seven lenders on October 5

How high, and for how long? (9 hours old)

Are markets finally making their peace with a new interest rate reality?

The AI rush for the iPhone moment (13 hours old)

Companies are throwing whatever new ideas they can think of at the wall to see what sticks for the new technology

Thousands of Apple customers complain latest iPhone models are overheating (15 hours old)

Complaints come a week after iPhone 15 debuted with ‘game-changing’ chips

The promise — and peril — of generative AI  (17 hours old)

This technology is readily accessible and usable at extraordinary speed and scale

Sony: with game over for Ryan, PlayStation needs new ringmaster (18 hours old)

Turning around the group’s financial unit will be a full-time job for interim chief Hiroki Totoki

OpenAI and Jony Ive in talks to raise $1bn from SoftBank for AI device venture (23 hours old)

ChatGPT creator in early discussions to create the ‘iPhone of artificial intelligence’

The small-cap blues (1 day old)

Plus, growth stocks, rates and pricing power

© Copyright The Financial Times Ltd 2023. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

BBC News - Business

Train drivers strikes could continue in to Christmas, as fresh disruption begins (6 hours old)

The leader of the train drivers' union has not ruled out strike action continuing in to Christmas.

England's single use plastics ban does not tackle takeaway boxes, warns Greenpeace (6 hours old)

Plastic cutlery is banned under new rules but plastic containers for takeaway and shop bought meals are not.

Campaigners call for more energy support for vulnerable households (3 hours old)

Charities and consumer groups say many people will struggle to pay their energy bills again this winter.

Working part-time at uni risks worsening inequalities, warns thinktank (6 hours old)

As the cost of living rises nearly half of universities now promote part-time jobs on their websites.

Average five-year mortgage drops below 6% (19 hours old)

The typical rate for a five-year mortgage has fallen to 5.99% after interest rates were held.

Households could be paid to turn down heating (16 hours old)

It comes after people were paid to use less electricity last year to prevent supply issues.

Rishi Sunak repeatedly dodges questions over future of HS2 rail (18 hours old)

Speculation is mounting the government could delay or scrap the second leg of the line to Manchester.

China's Evergrande chairman put under police surveillance (12 hours old)

The stricken Chinese property giant said Hui Ka Yan was under suspicion of "illegal crimes".

Fortnite maker Epic Games cutting 16% of workforce (12 hours old)

The company says it is shedding the staff because it's spending "way more" than it earns

The deep rooted problem holding back the UK economy (1 day old)

The UK has an underinvestment crisis - our future prosperity depends on this changing.

Copyright: (C) British Broadcasting Corporation, see http://news.bbc.co.uk/2/hi/help/rss/4498287.stm for terms and conditions of reuse.

UK equities

Investing for income in the ‘new normal’ (1 hour 41 minutes old)

Cash savings rates are attractive, but may not pay off in the long term

Risks but potential rewards remain in private company investing (1 day old)

The easy money era for private equity is over

Royal carpet maker Victoria’s shares tumble on auditor’s fraud risk warning (3 days old [25/09/23])

Grant Thornton raised concerns over one of group’s subsidiaries

Hunt plans Isa overhaul to boost share ownership (6 days old [22/09/23])

Treasury looks to simplify tax-free savings regime and weighs new allowance for investments in UK companies

UK banks: valuations disappoint despite rising profits (7 days old [21/09/23])

Investors tempered optimism about the sector when customers withdrew deposits more quickly than anticipated

Games Workshop: model maker represents the best of Britain (13 days old [15/09/23])

A Warhammer film rights could yield another pleasant surprise

Allied Gold bypasses London for North American listings  (16 days old [12/09/23])

More precious metal miners are turning away from UK capital’s stock exchange

Regulatory sheriffs await Robinhood’s latest UK foray  (20 days old [08/09/23])

Meme stock platform faces hurdles to trading method behind US growth

The Lex Newsletter: using pensions to lift markets has repressive ring (22 days old [06/09/23])

Any switch to compulsory investment in the UK would set klaxons blaring for lawyers and trustees of schemes

The right way to tackle the UK pensions and markets crisis (24 days old [05/09/23])

Reforms are needed to enable the provision of a secure and comfortable retirement for millions of people

© Copyright The Financial Times Ltd 2023. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Opinion

How to make Isas even nicer  (1 hour 41 minutes old)

The chancellor is ‘open to ideas’ about reforming tax-free accounts, so what could investors expect?

Investing for income in the ‘new normal’ (1 hour 41 minutes old)

Cash savings rates are attractive, but may not pay off in the long term

Poll-driven politics does nobody any favours (1 hour 41 minutes old)

One-dimensional survey questions foster one-dimensional debate

What happened to the savings squirrelled away during the pandemic? (1 hour 41 minutes old)

Betting against the American consumer is bold. But there are signs that the source of their spree may be drying up

Sometimes, a random solution is best (1 hour 41 minutes old)

We don’t usually draw lots to allocate duties or privileges, but what if we did?

Sunak’s electricity network plans aim to break the gridlock  (2 hours old)

The current approach to designing, approving and building the UK’s grid is too fragmented

For business, breaking up with China is hard to do (12 hours old)

Companies need more clarity over direction of western policy on Beijing

Accenture: IT consultancy can weather spending slowdown (12 hours old)

Despite a fall in spending by clients, the group looks better placed than many of its rivals

UK ringfencing: circular thinking only pays lip service to deregulation (12 hours old)

Modest easing of requirement is just a nod to pressure to deregulate the UK’s stagnating markets

From black to red zero in Germany? Don’t bank on it (12 hours old)

Berlin has tightened deficit discipline as ‘bond vigilantes’ return

© Copyright The Financial Times Ltd 2023. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Ipswich