Business news

Construction begins on ‘carbon neutral’ Sutherland Spaceport

Sutherland Spaceport will be home to the rocket company Orbex.

European Central Bank announces quarter-point rise in interest rates

The decision comes a day after the US Federal Reserve also approved a quarter-point increase.

Scottish college lecturers start boycott as part of industrial actio...

EIS-Fela members will not enter students’ marks into college systems as part a dispute over pay.

European Central Bank set to raise interest rates after inflation ed...

The inflation rate in the eurozone rose to 7% in April.

Europe’s economy barely grows as inflation pinches consumers

The 20 countries that use the euro currency picked up speed in the first quarter after zero growth in the last three months of 2022.

20% of people ‘less confident than six months ago about paying rent...

HSBC UK and housing charity Shelter have announced a new partnership to support the financial health of people and communities.

Credit Suisse investors sue after facing billions in losses

The investors are contesting an order by the Swiss Financial Market Supervisory Authority that wiped out billions in higher-risk bonds.

Nokia warns over economic situation as it reports lower profits than...

The wireless and fixed-network equipment maker reported net profit of 342 million euros (£300 million) for the January-March period.

Credit Suisse accused of hindering probe into Nazi-linked accounts

US senators said some accounts linked to Nazi Germany were open until just a few years ago.

Not-for-profit lettings agency will help ease ‘chronic lack’ of affo...

Lloyds Banking Group said fundraising will support Crisis to develop and launch a new not-for-profit lettings agency.

Wood Group to ‘engage’ with private equity suitor over £1.7bn propos...

Apollo Management made a fifth takeover approach for Wood Group earlier this month worth 240p a share in cash.

Industrial action helped workers secure extra £2bn in pay, figures s...

The STUC released data covering workers in health, education, local government, the fire service, transport, and telecoms.

Head of Slovakia’s central bank convicted of bribery

The country’s Special Criminal Court handed National Bank of Slovakia governor Peter Kazimir a fine and a two-year suspended sentence.

List of 15 Barclays branches set to close

It brings the total of Barclays branches closing this year to 73.

Barclays closing another 15 bank branches

The high street brand has plans to shut 73 locations in total this year.

Barclays names 15 more branches to close

The high street brand has plans to shut 73 locations in total this year.

Pakistanis living abroad sent £2 billion home in March

The response to the government’s appeal for more hard currency remittances offers some hope for improving the ailing economy, officials said.

Global economic growth set to fall below 3% this year, IMF chief war...

Kristalina Georgieva warned poverty and hunger could increase further during 2023.

Regulator defends rescue of Credit Suisse via UBS takeover as ‘best...

Urban Angehrn, chief executive of the Swiss Financial Market Supervisory Authority, or FINMA. defended the move.

UBS boss admits ‘huge’ risks in merging with Credit Suisse

However, Colm Kelleher voiced confidence that the Swiss bank will benefit from the government-engineered takeover.