Toyota has threatened to stop manufacturing in the UK if the government goes ahead with its plans to ban the sale of hybrid cars from 2030. The marquee told government officials the ban would constrain “manufacturing, retail and other business activities” as well as “future investment.” “If the government adopts an SZEC [significant zero emission […]
The UK government’s Insolvency Service today said it recorded a higher number of insolvencies over the past three months than at any other point in more than a decade, after the numbers of companies declaring voluntary bankruptcies hit their highest levels since records began. The past three months saw a total of 5,629 English and […]
BP has reported massive profits for the three months to June after oil and gas prices soared. The energy giant saw underlying profits hit $8.45bn (£6.9bn) – more than triple the amount it made at the same time last year. The figure is the second highest in the firm’s history and takes its half-year profits […]
Liz Truss has said she wants to save taxpayers’ money by scrapping diversity roles and ending national pay deals. The Tory leadership candidate wants to link civil servants’ pay to living standards where they work, meaning similar jobs could have different salaries depending on location Ms Truss says that the scheme could be rolled out […]
British Airways has suspended ticket sales on short-haul flights from Heathrow until 8 August after the London airport’s decision to cap capacity and tackle widespread disruption and cancellations. The airline said the sales suspension on domestic and European destinations was designed to allow existing customers to rebook flights when needed. Airlines and airports across Britain […]
Credit card borrowing in June grew at the fastest rate in nearly 17 years, Bank of England figures show. Borrowing on credit cards grew at an annual rate of 12.5% – the fastest pace since November 2005. Figures from the Bank also showed that consumers cut how much money they set aside for savings last […]
NatWest is to return £2.1 billion to shareholders and has revealed a surprise increase in profits despite worries about Britain’s inflation-fuelled cost of living crisis. The high street bank said it had been buoyed by rising interest rates during the first six months of the year, which helped its revenues to climb to £6.2 billion […]
The UK’s competition watchdog is investigating Asos, Boohoo and Asda over claims about the sustainability of their fashion products. If the firms are found to have made misleading claims, the Competition and Markets Authority (CMA) said it would not hesitate to take action. Concerns include the use of vague language which may suggest collections are […]
Taxpayers have been left to foot a £421m bill to cover soured Covid debts, after one in 12 businesses defaulted on state-backed emergency loans distributed at the height of the pandemic, official figures reveal. In the first set of figures detailing the performance of government-backed loans offered to struggling firms during the outbreak, the Department […]
The affordability of a home in England has fallen to its lowest since records began in 1999, official figures show. The cost a typical home in England has risen to 8.7 times the average annual disposable household income in the year to March, according to data from the Office for National Statistics. The figure compares […]