The price of a fresh turkey centrepiece for Christmas dinner has increased by as much as 45% because of shortages caused by the bird flu outbreak, which has wiped out 1.6 million of the birds in the UK. Not only are prices up but the choice of fresh turkey is more limited in the major […]
Jeremy Hunt has said the energy bill support scheme will be extended in April, with details to be set out “very shortly”. The chancellor sought to “reassure” businesses feeling the pinch amid the cost of living crisis. The government previously promised to pay a significant part of companies’ energy bills in September, but the support […]
Elon Musk has lost his crown as the world’s richest person, after further falls in the value of shares in his electric car company Tesla. Forbes and Bloomberg, which track the wealth of billionaires, reported that Musk had lost the top spot to France’s Bernard Arnault, the chief executive of the luxury group LVMH. South […]
Shoppers tearing their hair out in the search for Christmas presents online amid strike-hit parcel deliveries have been urged to try a low-tech solution: their local high street. With a quarter of annual toy sales rung up in December, the boss of The Entertainer toy chain told the Guardian it had been forced to extend […]
Rishi Sunak has been warned by a key immigration body to avoid focusing on reducing the numbers of people coming into the UK amid a national staffing shortage in key industries. The independent migration advisory committee has urged the prime minister, who wants an overall cut in net migration, to instead cooperate with the private […]
Kwasi Kwarteng disregarded warnings that his £45bn mini-budget could trigger a backlash on the financial markets, Treasury officials told MPs today. The department’s permanent secretary, James Bowler, said he was “absolutely confident Treasury officials set out the right advice” to the then chancellor. He conceded that they could not persuade Kwarteng to change his view, […]
The American electric vehicle start-up backed by Amazon has halted a joint venture with Mercedes-Benz to produce vans in Europe. Rivian, which has been seeking to reduce its cash burn, said that it wanted to concentrate on its existing commercial deals. Rivian and Mercedes signed a memorandum of understanding in September that involved a jointly […]
UK power prices have hit record levels as an icy cold snap and a fall in supplies of electricity generated by wind power have combined to push up wholesale costs. The day-ahead price for power for delivery on Monday reached a record £675 a megawatt-hour on the Epex Spot SE exchange. The price for power […]
Manufacturing will fall into a deep recession next year as the global economic downturn erodes demand, manufacturers have warned. More contraction is on the way after industrial output shrank by 4.4 per cent over the past year, according to a survey by Make UK, which represents manufacturers, and BDO, the advisory firm. This year’s fall […]
A restaurant has been forced to close after losing £50,000 to scammers who posed as officials after a fraud scare. As an experienced business owner, Natalia Ribbe had never imagined she would be the type of person to fall victim to fraudsters. But now Barletta, the popular restaurant she co-founded in Margate, has closed for […]