About 115,000 postal workers at Royal Mail are to stage a 24-hour strike on 16 February in their continuing dispute with management over pay and conditions. The strike will affect all shifts for 24 hours from 12.30pm that day, the Communication Workers Union (CWU) said. The union said it had called the strike after Royal […]
Amazon yesterday beat sales expectations for the last quarter of 2022 after a marketing blitz during the holiday period helped attract shoppers. The world’s largest retailer lowered Wall Street’s expectations for the current quarter, however, and shares in the group dropped 4.8 per cent, or $5.21, lower at $112.91 in after-hours trading. Net sales rose […]
Jeremy Hunt has pledged to resist calls to cut taxes as interest rates hit a 15-year high of 4 per cent. In a move that will add nearly £50 a month to the average borrower’s mortgage payment, the Bank of England increased the rate of interest for the tenth consecutive time as part of efforts […]
Breadcrumb Trail Links Oil & Gas News Energy Commodities Latest of the Big Oil companies to report bumper profits Author of the article: The Associated Press Kelvin Chan Published Feb 02, 2023 • 3 minute read Join the conversation Global energy giant Shell reported on Feb. 2 that its annual profits doubled to a record […]
Breadcrumb Trail Links Retail & Marketing News Economy Revenue down in third quarter Canada Goose Holdings Inc. sales were hit by COVID-19 disruptions in China. Photo by Galit Rodan/Bloomberg Article content Canada Goose Holdings Inc. reported a drop in third-quarter sales amid disruption from China lifting its zero-COVID-19 policy and a tougher macro environment in […]
Oil and gas giant Shell has reported record annual profits after energy prices surged last year following Russia’s invasion of Ukraine. The company reported adjusted earnings of $39.9bn (£32.2bn) for 2022, the highest in its 115-year history. Energy firms have been making record profits after oil and gas prices jumped following Russia’s invasion of Ukraine. […]
Senior retail figures have backed Sadiq Khan’s call to re-introduce VAT free shopping for tourists, claiming the move would make a “huge difference” to the sector. Kay Buxton, chief executive of Marble Arch London BID, said that the Chancellor Jeremy Hunt “missed a trick” at the last Budget by not reintroducing tax-free shopping and claimed […]
The private equity investor Greybull Capital is considering a bid for the collapsed battery startup Britishvolt, as administrators at EY try to push through a sale of the gigafactory project. The investment firm was approached by EY because of its history in investing in distressed industrial companies, according to a person with knowledge of the […]
British Steel, the Chinese-owned operator of the giant Scunthorpe steelworks, is planning to lay off 800 workers, about a quarter of the workforce. The news comes in the middle of negotiations between ministers and Jingye, the Chinese steel company that was gifted British Steel by the Official Receiver just before the economy locked down in […]
Meta Platforms, owner of Facebook and Instagram, reassured Wall Street that its sales were holding up better than feared last night after its profits more than halved in the past quarter. The world’s largest social media business said revenues may return to growth this quarter, allaying worries over its prospects as advertisers batten down the […]