Britain’s uncompetitive fiscal policies have led AstraZeneca to shift plans for a $360 million investment in a new manufacturing facility from Britain to Ireland, the group’s chief executive has revealed. Sir Pascal Soriot said the pharmaceutical group had wanted to build the new “state-of-the-art” plant close to its existing UK sites in the northwest of […]
This section is Presented This section was produced by the editorial department. The client was not given the opportunity to put restrictions on the content or review it prior to publication. by HSBC Breadcrumb Trail Links News Economy Strong jobs market and economic growth led central bank to hike rates, minutes reveal The Bank of […]
The FTSE 100 reached a fresh record high in early trade this morning as the blue-chip index’s export-heavy members were buoyed by sharp overnight gains on Wall Street. The index — more than two-thirds of whose constituents earn the majority of their revenues in overseas markets — rose 0.8 per cent to an all-time intra-day […]
Rishi Sunak has announced a shake-up of his top team — splitting up the business department and merging it into four new departments. In a bid to focus on his priorities, Sunak has created a new Department of Science, Innovation and Technology that will be led by Michelle Donelan, the culture secretary. Grant Shapps, the […]
British energy company has BP reported record annual earnings amid growing calls for the U.K. government to boost taxes on companies profiting from the high price of oil and natural gas after Russia’s invasion of Ukraine. The London-based company said underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, […]
Bank to business lending is forecast to contract sharply in 2023 while mortgage lending will grow at its slowest pace since 2011 as fears of recession intensify, economists have predicted. According to the latest forecast from EY Item Club, an economic forecasting group, bank to business lending is expected to contract 3.8 per cent this […]
Tesla co-founder Elon Musk has been cleared of wrongdoing for a tweet in which he said he had “funding secured” to take the electric carmaker back into private ownership. Shareholders argued he misled them with his posts in August 2018, and they had lost billions of dollars because of them. The proposed $72bn (£60bn) buyout […]
An emerging Australian company yet to construct a major project will be responsible for delivering on UK hopes to electrify its automotive industry after outbidding rivals to take over collapsed battery maker Britishvolt. In a whirlwind fortnight, Recharge Industries put together an aggressive package that also revives plans to build a £3.8bn (A$6.7bn) “gigafactory” in […]
The government risks endangering the UK’s semiconductor industry unless it urgently publishes a strategy for the sector, a leading Westminster body has warned. MPs on the Business, Energy and Industrial Strategy (BEIS) Committee have expressed disappointment over the government’s failure to publish a strategy to help support the sector. BEIS Committee Chair Darren Jones said: […]
The Government is being urged to help firms recruit workers after research showed employers are facing huge problems attracting staff. The majority of the businesses surveyed by the British Chambers of Commerce (BCC) said they had problems recruiting workers in recent months. Hospitality firms were most likely to face challenges when recruiting, followed by manufacturers […]