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2 weeks ago | 
insider.co.uk | Alex Daniel |Peter A Walker
Britain’s economy grew faster than expected in February, as the services and manufacturing sectors picked up after recent slow activity. The Office for National Statistics (ONS) said gross domestic product (GDP) grew by 0.5% - surprising economists, who had forecast no economic growth. It also marks a significant monthly improvement after no growth in January.
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1 month ago | 
insider.co.uk | Alex Daniel |Peter A Walker
Morrisons is planning to shut 52 in-store cafés, along with some of its convenience stores, florists, meat and fish counters and pharmacies. The supermarket chain said the closures are part of a shake-up which will result in 365 people facing redundancy. Up to 18 market kitchens, 17 convenience stores, 13 florists, 35 meat counters, 35 fish counters and four pharmacies will also be affected.
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1 month ago | 
insider.co.uk | Alex Daniel |Peter A Walker
BP chief executive Murray Auchincloss took a £2.3m pay cut last year amid a slump in profit. He took home £5.4m in 2024, including bonuses and shares, down from £7.7m in 2023, according to BP’s annual report. The nearly one third drop came amid a more than £1.1m cut to his bonus to £734,000, and a £1.6m fall in share payments to about £2.8m of BP stocks.
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1 month ago | 
insider.co.uk | Alex Daniel |Peter A Walker
BP has confirmed it will slash spending on net zero transition businesses by £3.95bn a year and significantly ramp up its oil and gas operations. The fossil fuels giant said it is still targeting net zero operations, but will only spend up to £1.6bn a year on projects transitioning to renewable energy - a significant cut. It will increase oil and gas investment by about 20% to £7.9bn a year, as part of a major strategy update.
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2 months ago | 
insider.co.uk | Alex Daniel |Peter A Walker
Shell has hiked its dividend to shareholders despite profits falling last year, after the energy giant was hit by weaker oil prices and lower demand for the fossil fuel. The London-listed company raised its dividend by 4%, while posting earnings of £19.1bn for the calendar year, down from £22.8bn in 2023. Shell also said it had hit a cost-cutting target of £2.4bn, after setting the goal in 2022.
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Jan 14, 2025 | 
sharesmagazine.co.uk | Alex Daniel
The planned Sizewell C nuclear power station in Suffolk could surge in cost to nearly £40 billion, according to reports. People close to talks over the energy scheme have estimated the rise in costs, the Financial Times newspaper reported, which is double the forecast by developer EDF just five years ago. The government said it did not recognise the figure, while Sizewell C’s managing directors said it is ‘not accurate’.
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Jan 14, 2025 | 
belfasttelegraph.co.uk | Alex Daniel
The planned Sizewell C nuclear power station in Suffolk could surge in cost to nearly £40 billion, according to reports. People close to talks over the energy scheme have estimated the rise in costs, the Financial Times newspaper reported, which is double the forecast by developer EDF just five years ago. Join the Belfast Telegraph WhatsApp channel Stay up to date with some of Northern Ireland's biggest stories
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Jan 13, 2025 | 
in.marketscreener.com | Alex Daniel |George Lithgow
(Alliance News) - The UK chancellor has "bruised" business confidence by expecting companies to help fill the hole in public finances, the chair of the Confederation of British Industry, CBI, has said. Rupert Soames said business leaders are less likely to employ people in the current climate. He was referring to Chancellor Rachel Reeves' decision to raise national insurance contributions, NIC, for employers, among other business cost increases in the October Budget.
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Jan 13, 2025 | 
marketscreener.com | Alex Daniel |George Lithgow
(Alliance News) - The UK chancellor has "bruised" business confidence by expecting companies to help fill the hole in public finances, the chair of the Confederation of British Industry, CBI, has said. Rupert Soames said business leaders are less likely to employ people in the current climate. He was referring to Chancellor Rachel Reeves' decision to raise national insurance contributions, NIC, for employers, among other business cost increases in the October Budget.
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Jan 8, 2025 | 
insider.co.uk | Alex Daniel |Peter A Walker
Shell said it expects to take a £1.04bn cash hit in the final quarter from payments for emissions certificates. The London-listed company energy major said on Wednesday that the charge is “related to timing of payments of emissions certificates” in Germany and the US. It also expects profits in its gas business to be “significantly lower” in the fourth quarter than the previous three months, because of hedging contracts expiring.
