Business news

‘You’re not idiots’: Sunak says audience knows why he cannot cut tax...

The Prime Minister argued the pandemic and the Russian invasion of Ukraine mean he cannot reduce taxes at the moment.

Octopus tops energy customer survey as some firms ‘fall far short’

Which? warned customers will vote with their feet and ‘switch away when this becomes an option’.

Non-essential spending in December increased, Nationwide says

Nationwide Building Society analysed card payments and direct debits made by its members as well as commissioning a survey about people’s finances.

LloydsPharmacy to axe outlets within Sainsbury’s supermarkets

The pharmacy chain said it has cut the services following a strategic review “in response to changing market conditions”.

HSBC rebuked by competition watchdog over open banking breaches

The banking giant provided incorrect data or failed to provide required information on more than 50 different occasions over the past five years.

Energy bills forecast to fall in second half of 2023 after spring sp...

Experts warned against reading too much into the early forecasts, adding that people will still be paying several times more than in the past.

Some calls to HMRC will be answered by text to save time waiting on...

A new service will direct routine helpline calls to online services where certain queries can be resolved quickly.

Lenders expect default rates on loans to households and businesses t...

Banks and building societies expect the availability of mortgages and other credit to households to decrease by the end of February 2023.

Dunelm sales rise as shoppers buy heaters and thick duvets

Total sales increased by 18% to £478 million over the 13 weeks to December 31, compared with the same period last year.

Consumer confidence hits near-historic low amid inflation and energy...

GfK’s long-running Consumer Confidence Index dropped three points in January to minus 45 after a short-lived and weak rally in the last quarter.

Dr Martens shares plummet after it discovers problems at US warehous...

The company has downgraded its outlook for the financial year.

Shares in Dr Martens plummet after it discovers problems at US wareh...

The company has downgraded its outlook for the financial year.

Premier Foods to shut factory in move impacting about 300 jobs

It said the powdered drinks factory in Knighton, Staffordshire, is loss making and does not fit in with its aims to focus on branded sales growth.

Boohoo reports sales drop as US and UK markets weigh

Revenue is set to fall by around 12% over the financial year.

Deliveroo delivers profitability boost despite order decline

The online delivery firm said underlying earnings were around breakeven for the second half, with its margin performance better than feared.

Growth should not be seen as dirty word, Sir James Dyson warns Sunak

He called on the Government to use the spring budget to ‘incentivise private innovation and demonstrate its ambition for growth’.

Dover-Calais ferry services suspended due to French industrial actio...

P&O Ferries said it has produced an ‘optimised’ sailing schedule in light of the 24-hour strike, known as the National Day of Action in France.

London stocks underperform European peers despite inflation dip

The FTSE 100 finished the day down 20.33 points, or 0.26%, at 7,830.7.

Ex-Cabinet minister’s comments over nurses using food banks branded...

Simon Clarke, Liz Truss’s levelling up secretary, said in a radio interview the debate over nurses’ pay has ‘got way out of hand’.

Bankers’ bonuses will drop to reflect performance, JP Morgan chief s...

Viswas Raghavan also admitted that there has been an economic impact of Brexit which needs to be “replenished”.