Business

FTSE 100 share index hits record high as investors shrug off trade war fears – business live
Posted on Thursday July 10, 2025

Rolling coverage of the latest economic and financial news, as Royal Mail’s delivery targets are relaxed.The ‘Footsie’ is continuing to hit new highs this morning!It’s now up almost 1% at 8952 points, up 85 points today. Miners such as Anglo American (+4.6%), Glencore (+3.5%) and Antofagasta (+2.8%) are driving it higher.“Cindy is an outstanding and inspirational business leader with extensive experience at some of the world’s most recognised companies and a track record of growing large-scale businesses. She has led multi-billion-dollar operations across the UK, EMEA and globally, built enduring client relationships and delivered growth in both enterprise and consumer environments.“Cindy has supported the digital transformation of large enterprises around the world - including embracing AI to create new customer experiences, business models and revenue streams. Her expertise in this landscape will be hugely valuable to WPP as the industry navigates fundamental changes and macroeconomic uncertainty. Cindy’s appointment follows a thorough selection process that considered both internal and external candidates. As an existing Board member she understands our business and the needs of our clients, and we look forward to working with her in her new role as CEO. Continue reading...

Royal Mail gets go ahead to axe second-class post on Saturdays
Posted on Thursday July 10, 2025

Deliveries will also alternate on weekdays to reflect changing behaviour of users but critics say regulator has let courier off the hookBusiness live – latest updatesRoyal Mail has been given the green light to drop Saturday deliveries of second-class letters and provide services only on alternating weekdays from Monday to Friday under new rules announced by the regulator.Ofcom said that reforms of the universal services obligation (USO) reflected changing behaviour of postal users, with fewer letters being sent across the country. The regulator said it could end up saving the postal delivery service between £250m and £425m each year. Continue reading...

Last orders: Pubs in Britain will close at rate of one a day in 2025, trade body warns
Posted on Thursday July 10, 2025

The British Beer and Pub Association calls for help to cut pub costs with 378 pubs in England, Scotland and Wales likely to call time this yearBritish pubs will close down at the rate of one a day this year, the industry’s trade body has warned, blaming high business taxes. At the same time, the hospitality sector has called on ministers to tackle “eye-watering” costs.The British Beer and Pub Association (BBPA), which represents more than 20,000 pubs in the UK, said it expects 378 to close this year in England, Scotland and Wales, at a cost of 5,600 jobs. Continue reading...

US shoppers feel the heat of Trump’s trade war: ‘the prices are going up’
Posted on Thursday July 10, 2025

At a sweltering New York mall, customers say they’re paying more as tariffs push up costs on goods such as t-shirtsAs temperatures soared on a sweltering July day in New York City, shoppers at Queens’s largest mall said they were feeling the heat – of rising prices.“T-shirts, basic t-shirts, underwear, the basic necessities – the prices are going up,” said Clarence Johnson, 48, who was visiting the Macy’s at the Queen Center mall to pick up shirts he ordered online. Continue reading...

UK government abandons energy ‘zonal pricing’ plan
Posted on Thursday July 10, 2025

Proposal to vary electricity charges in England, Wales and Scotland based on location dropped in favour of ‘fair and affordable’ single priceBusiness live – latest updatesThe government has abandoned plans for “zonal pricing” that would have charged electricity users in the south of England more than those in Scotland, saying that a single national price would help ensure the system was “fair, affordable, secure and efficient”.The energy secretary, Ed Miliband, had been considering proposals for zonal pricing that would mean different parts of England, Wales and Scotland being charged different rates for their electricity, based on local supply and demand. Continue reading...

The CEO who never was: how Linda Yaccarino was set up to fail at Elon Musk’s X
Posted on Thursday July 10, 2025

Ex-NBC executive was tasked with building an ‘everything app’, but billionaire owner was biggest obstacle in her pathIn May 2023, when Linda Yaccarino, an NBC advertising executive, joined what was then still known as Twitter, she was given a tall order: repair the company’s relationship with advertisers after a chaotic year of being owned by Elon Musk. But just weeks after she became CEO, Musk posted an antisemitic tweet that drove away major brands like Disney, Paramount, NBCUniversal, Comcast, Lionsgate and Warner Bros Discovery to pause their advertising on the platform. Musk delivered an apology for the tweet later at a conference – which he called the worst post he’s ever done – but it came with a message to advertisers, specifically the Disney CEO Bob Iger: “Go fuck yourselves”. Yaccarino was in the audience of the conference.“I don’t want them to advertise,” he said. “If someone is going to blackmail me with advertising or money, go fuck yourself. Go. Fuck. Yourself,” he said. “Is that clear? Hey Bob, if you’re in the audience, that’s how I feel.” Continue reading...

Labour MPs alarmed by rise in sponsored events arranged by party
Posted on Wednesday July 09, 2025

Invitations for receptions sent from parliamentary office include ads for housebuilders and public affairs firmsLabour MPs have privately raised alarm at the number of sponsored corporate receptions for backbenchers that have been arranged by the party, amid concerns about perceived conflicts of interest.MPs have received invitations for networking receptions that include explicit advertisements for property developers or public affairs firms. The invitations are sent to MPs directly from the parliamentary Labour party (PLP) office and forwarded by party whips. Continue reading...