Category: <span>Business</span>

High energy prices leave oil giants untroubled by Russia exit or tax hints
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High energy prices leave oil giants untroubled by Russia exit or tax hints

“May you live in interesting times,” runs the saying, supposedly an English translation of an ancient Chinese curse. For BP and Shell, the British companies that account for two of the world’s seven oil “supermajors”, the first quarter of 2022 has been painfully fascinating. Both were heavily enmeshed in Russia and now face having to write...

UK economy slows more than expected as car production slumps
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UK economy slows more than expected as car production slumps

UK economic growth slowed by more than expected in February as a slump in car manufacturing undermined a sharp recovery in holiday bookings after the easing of Covid travel restrictions. The Office for National Statistics said gross domestic product rose by only 0.1% in February, down from a monthly growth rate of 0.8% in January when the...

UK’s biggest housebuilders hand top bosses bumper bonuses
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UK’s biggest housebuilders hand top bosses bumper bonuses

Persimmon and Taylor Wimpey, Britain’s two biggest housebuilders, handed their chief executives bumper bonuses last year, when building bounced back amid a house price boom. Persimmon boss Dean Finch received a total pay and bonus package of £2.6m last year, the York-based builder’s annual report showed. That compared with £218,326 in 2020, although he only took over as...

Sberbank withdraws from most European markets
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Sberbank withdraws from most European markets

Russian Sberbank announced on Wednesday it was withdrawing from most European markets. The bank stressed that it decided to withdraw due to large outflows and threats to its property and staff, according to Reuters reporting on Wednesday. The Russian state-controlled bank posted record-high annual profit in 2021, but stressed that it is no longer able to secure...

UK house sales to first-time buyers reach highest for 19 years
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UK house sales to first-time buyers reach highest for 19 years

The number of UK first-time homebuyers has hit its highest level since 2002, according to a new estimate. Despite the uncertainty generated by the pandemic and strong house price growth, the number of first-time buyer transactions in 2021 is estimated to be 408,300, according to Yorkshire Building Society. That would be a 35% increase on...

Aldi’s £14 champagne becomes UK bestseller after Moët & Chandon
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Aldi’s £14 champagne becomes UK bestseller after Moët & Chandon

A £14 own-label champagne from Aldi has become a hit in the UK and is second only to Moët & Chandon in sales as shoppers seek luxury but without the hefty price tag. Veuve Monsigny, available only at the discounter, has overtaken Lanson, one of France’s most storied names, according to figures from the data firm IRI....

Staff shortages: small restaurants forced to offer £1,000 sign-on bonuses
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Staff shortages: small restaurants forced to offer £1,000 sign-on bonuses

Independent restaurants are being forced to offer hefty sign-on bonuses of £1,000 or more for chefs and other kitchen staff as the shortage of skilled workers tightens in the busy festive season. Small businesses such as Angie’s and D Grande, both restaurants in Chiswick, west London, the Coniston Hotel in Skipton, and Galeta, a bakery...