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Reeves confirms backing for Heathrow expansion but refuses to rule out new business taxes

January 28, 2025

Rachel Reeves has confirmed the government’s backing for a third runway at Heathrow in a major speech on economic growth. The Chancellor addressed journalists, business leaders and cabinet ministers at Siemens Healthineers in Oxfordshire on Wednesday morning. She said: “Heathrow is at the heart of the UK’s openness as a country, it connects us to [...]

Next CEO backs Lords battle against National Insurance tax rise

January 28, 2025

The chief executive of retail giant Next has backed an attempt in the House of Lords to change the planned change to employer’s National Insurance Contributions (NICs). Lord Wolfson has supported amendments to the bill which have been tabled by Baroness Noakes. In Labour’s Budget last Autumn, Chancellor Rachel Reeves said that the government would [...]

The Famous Grouse sale to billionaire’s empire on the rocks

January 28, 2025

A deal which saw whisky giant The Famous Grouse sold to one of the UK’s richest men is to be investigated by the Competition and Markets Authority (CMA). Drinks business Edrington sold the brand, which been owned by its 1887 Company, to William Grant & Sons in September last year for an undisclosed sum. William Grant & [...]

UK’s last fracking wells to be filled with cement despite dwindling gas stocks

January 28, 2025

The UK’s last fracking wells are set to be closed and filled with cement despite warnings that Britain’s gas stockpiles are dwindling. In an open letter, the North Sea Transition Authority regulator told the energy firm Cuadrilla to plug the two wells at Preston New Road in Lancashire before decommissioning them by 30th June 2025. [...]

Probe launched into £2.1bn takeover of Electricity North West by ScottishPower owner

January 28, 2025

The competition watchdog has launched a probe into a £2.1bn deal to takeover Electricity North West by the owner of ScottishPower. The Competition and Markets Authority (CMA) is looking into the deal which was first announced by Iberdrola in August last year. The watchdog said it was investigating whether the deal may affect competition in [...]

‘Deregulation is essential’: Starmer vows to slash red tape in bid for growth

January 28, 2025

Keir Starmer vowed to deregulate Britain and cut through “thickets of red tape” today as he tried to reboot his government’s handling of the economy following months of anaemic growth and criticism from business. In an article for the Times, the Prime Minister wrote “deregulation is essential” and warned investors were shunning the UK due [...]

Rachel Reeves to unveil £65m investment in EV charging firm

January 28, 2025

Chancellor Rachel Reeves will unveil a £65m investment into an electric car charging company as part of a much-anticipated growth speech on Wednesday. City AM understands the new National Wealth Fund (NWF) will take an equity stake in Connected Kerb alongside Aviva Investors, the global asset management branch of Aviva Group. The NWF will commit [...]

Morrisons sales surge as customer loyalty pays off

January 28, 2025

Eating into the market share of its rivals and growing its loyalty card scheme helped sales surge at supermarket giant Morrisons during its latest financial year. The Yorkshire-headquartered chain has reported a revenue of £15.2bn for the 12 months to 27 October, 2024, up from £14.7bn. Its group like-for-like sales also increased from 1.8 per [...]

Raspberry Pi stock dips after profit forecast at lower end

January 28, 2025

Raspberry Pi’s stock price has dipped by 2.2 per cent after it said adjusted operating profit was expected to come in on the low end of what had been expected by markets. The Cambridge-based tech firm said it expected its full year adjusted operating profit to be above $36m (£28.9m), compared to a range of [...]

Playtech: Gambling giant’s chair steps down after action-packed tenure

January 28, 2025

The chair of Playtech is to step down following an action-packed tenure at the London-listed gambling tech firm. Brian Mattingley will depart after nearly four years at the helm, but will stay in his role for a few months as the search for a successor gets underway. In a statement to markets, Playtech, which was [...]

Wall Street is bullish on Home Depot while concerned about Best Buy

January 28, 2025

Wall street analysts feel good about one of our retail stocks but apprehensive about another. …

Orbex: Rocket-maker secures £20m investment from UK government ahead of take off

January 28, 2025

The UK government has invested £20m in rocket-maker Orbex as it prepares to build and launch from its site in the Shetland Islands. The injection of funding is expected to help back Orbex’s Prime, the first UK-manufactured and UK-launched orbital rocket. Prime is scheduled to take off towards the end of this year at the [...]

WWE announces location of 2025 Elimination Chamber premium live event

January 28, 2025

WWE announced on Friday the 2025 Elimination Chamber premium live event will take place in …

Sky News to shift focus to ‘premium’ content

January 28, 2025

Sky News is planning a seismic overhaul of its newsroom that will see the national broadcaster focus on “premium” paid-for content over its traditional linear news. The channel’s executive chair unveiled the strategy – branded Sky News 2030 – in a speech to staff on Tuesday in an attempt to seek out new streams of [...]

Crypto community reacts to reports of Wall St. lawyer up for SEC chair role

January 28, 2025

Reports of a Wall Street lawyer as a potential SEC chair candidate in Trump’s administration …