Business

Britain’s poorest still face ‘summer of hardship’, charities warn, despite first energy price cap cut in a year – business live
Posted on Friday May 23, 2025

Typical household energy bill to fall by £129 per year this summer, Ofgem saysTypical energy bill in Great Britain to fall 7% to £1,720 a year from JulyAs well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net exports and private consumption drove economic activity in the first quarter, while government consumption and inventories dragged on growth. Continue reading...

Consortium led by RedBird Capital agrees to buy Telegraph for £500m
Posted on Friday May 23, 2025

Deal with US private equity company will end two years of uncertainty over future of titlesA consortium led by the US private equity company RedBird Capital has agreed to buy the Telegraph for £500m, ending two years of uncertainty over the future ownership of the titles.The company’s founder, Gerry Cardinale, has signed a deal in principle that will take the Daily Telegraph and Sunday Telegraph under the ownership of a consortium that includes British investors. Continue reading...

‘Ludicrous and unfair’: older workers react to pressure to delay retirement
Posted on Friday May 23, 2025

IMF is urging countries globally to act to ease stress on public finances, sparking mainly outrage but also supportAs French workers stage yet another public show of discontent about president Emmanuel Macron’s raising of the state pension age from 62 to 64, the International Monetary Fund has urged governments to encourage fit, older workers to delay retirement.Its recommendation is that people of the baby boomer generation should stay in work for longer to help balance public finances amid fiscal pressures caused by an ageing global population. Continue reading...

Sunny spring drives biggest jump in retail sales in Great Britain in four years
Posted on Friday May 23, 2025

Sales volumes up 1.2% in April, well ahead of forecasts, as people flock to food and drink outletsSunny spring weather sent shoppers flocking to supermarkets and specialists such as butchers, bakers and alcohol outlets last month, fuelling the strongest quarterly increase in retail sales in Great Britain in almost four years.Retail sales volumes rose by 1.2% in April, well ahead of City economists’ forecasts of an increase of between 0.2% and 0.4%, marking the fourth straight month of sales growth. Continue reading...

World’s seven wealthiest countries agree to counter China’s trade practices
Posted on Friday May 23, 2025

G7 finance ministers and central bank governors pledge to address ‘economic imbalances’, without naming ChinaTop finance officials from the world’s seven wealthiest democracies have set aside stark differences on US tariffs and agreed to counter global “economic imbalances”, a swipe at China’s trade practices.Ahead of the meeting of G7 finance ministers and central bank governors there had been doubt about whether there would be a final communique, given divisions over US tariffs and Washington’s reluctance to refer to Russia’s war on Ukraine as illegal. Continue reading...

UK travellers face road and rail disruption over bank holiday weekend
Posted on Friday May 23, 2025

Motoring organisations warn of heavy traffic, and delays and cancellations will hit two rail routes out of LondonThe bank holiday getaway is likely to be a tricky one, with transport analysts predicting congested roads and the year’s busiest day so far for departing airports, while long-distance rail passengers dodge the start of more engineering work.Motoring organisations forecast traffic to be at its worst on Friday, with many drivers surveyed apparently taking an extra day off before the long weekend and half-term break for most schools in England and Wales. Continue reading...

Gloucester ranked best motorway service station in Great Britain
Posted on Thursday May 22, 2025

Popular stop on M5 tops Which? survey with Tebay second, while Bridgwater is judged the worst with one-star ratingThere are less than 80 miles between them, but the gulf in quality is massive, according to a Which? survey that ranked Gloucester services top of the stops, and Bridgwater bottom.For many people motorway service stations are a place to take a break, grab a snack and use the toilet, but the rankings from the consumer recommendation group, which surveyed users of nearly 100 service stations across Great Britain, highlight the best and worst. Continue reading...