St Austell residents in Cornwall are becoming increasingly worried about the future of the town, as businesses continue to close and shoppers steer clear. The latest blow is the closure of New Look in a month's time, as more retail chains pull out of the high street. With more than 360 of its UK shops …
Shein, the internet fast-fashion behemoth, recorded its net profit slide by as much as 40% in 2024, posing a new challenge before its much-awaited listing on the London Stock Exchange. The net earnings of the company dropped to around $1 billion, sources familiar with the situation told the Financial Times. Even as the profit fell, …
A tiny Northumberland village has fought off a bid to bring in more holiday lets, the second time that a similar plan has been rejected. Residents of Dunstan, a village near the coast, are rejoicing after the local council refused an application for two new holiday cottages. The plan, by hotelier Janet Stansfield, was for …
BMW Group has placed a temporary hold on its ambitious £600m investment in the Mini factory outside Oxford because of declining consumer demand for electric cars. The German carmaker, which acquired Mini in 2000, first announced the upgrade in 2023, to convert the Cowley plant into an electric Mini production center. The investment, supported by …
Aldi, the popular discount supermarket chain, has fallen to third position in the most recent lists of the UK's top supermarkets. Even though it was declared the cheapest supermarket earlier this year, it was beaten by two of its biggest rivals in a survey by consumer group Which?. The research collected data from more than …
St Pancras is looking to expand its international rail services, with potential new direct routes connecting London to major cities in Germany, Switzerland, and France. These plans aim to significantly boost passenger capacity and offer travelers more alternatives to short-haul flights. London St Pancras Highspeed, the company that owns and operates the railway infrastructure between …
The UK saw a steeper-than-projected rise in inflation at the start of the year, adding more strain to domestic budgets and making an early interest rate cut less likely. This hike has prompted concern among policymakers and the general public, with rising living expenses still testing economic stability. The Consumer Prices Index (CPI) rose to …
The decline in Europe's natural gas consumption has raised questions about the rush to construct new LNG import terminals. However, there is still room to increase LNG imports from the United States, a demand that has been strongly pushed by President Donald Trump. With gas demand in Europe at its lowest in over a decade, …
Rachel Reeves is ramping up efforts to spur Britain's economy by meeting with some of the globe's most powerful investment bankers and asset managers this week. In an effort to bring forth new industry-driven ideas, the chancellor has set meetings with executives from top finance houses, the latest move in her drive to bring in …
A union is calling on the University of Liverpool to be more transparent after it revealed a voluntary redundancy scheme without details of the level of financial savings needed. Employees have complained about the lack of transparency from the institution about its future intentions. Mark O'Brien, head of the University and College Union (UCU), expressed …
The European Union is preparing to bolster its manufacturing industry while pursuing its climate targets with fresh policies aimed at backing domestic producers. A leaked draft of the Clean Industrial Deal, seen before its formal launch, shows intentions to introduce "Made in the EU" quotas and carbon marking on goods. These initiatives are intended to …
The long-awaited proposals for a new electric arc furnace at Tata Steel's Port Talbot plant have been given the go-ahead by the local planning authority. The announcement on Tuesday is a significant step towards the company's shift towards cleaner steel production. At a planning committee meeting of Neath Port Talbot Council, the scheme was given …
Thames Water has been able to win a much-needed £3bn injection of capital following a decisive High Court victory that will see the debt-ridden firm escape state control. It would have fallen into nationalisation on a temporary basis otherwise had it not had the capital infusion, using up all its finances by March end. The …
Thames Water is about to learn whether its proposal to restructure will be endorsed by a High Court judge on Tuesday. The water company, which serves much of England, is in dire financial straits and risks being out of cash by March. Without endorsement of its restructuring plan, it will be put into special administration. …
