4 d. ago Liz Truss warns there is ‘a reckoning coming’ for central banks, and backs Trump in Fed battle; US growth revised higher amid AI boom – business live

Rolling coverage of the latest economic and financial news, as former PM criticises Bank of England and claims UK faces ‘economic doom loop’People in the UK: how have you been affected by the rise in food prices?The FCA’s investigation into Drax comes five months after the company’s former top lobbyist accused it of “misleading the public, government and its regulator” over its sourcing of wood for biomass pellets.In a claim for unfair dismissal, Rowaa Ahmar, Drax’s former head of public affairs, said evidence suggested Drax was “unable to prove that it only sourced sustainable wood for its biomass, and that it was in fact using unsustainable wood”. Continue reading...

Events

4 d. ago Tesla sales in Europe slump 40% as BYD new car registrations more than triple

Electric car business run by Elon Musk continues to lose ground to Chinese rival despite recent revamp of Model YBusiness live – latest updatesTesla sales slumped 40% across Europe in July compared with a year earlier, as the electric car company run by Elon Musk faces increasingly tough competition from its Chinese rival BYD.There were 8,837 sales of Tesla cars last month across the EU, the European Free Trade Association and the UK, according to figures from the European Automobile Manufacturers’ Association (ACEA). That compared with 14,769 at the same point last year. Continue reading...

Politics

4 d. ago Best Nintendo Switch Black Friday deals: Get £70 off consoles in the early 2025 sales

I’m expecting to see Nintendo Switch 2 bundle deals appear this year

Economics

4 d. ago Liz Truss warns there is ‘a reckoning coming’ for central banks, and backs Trump in battle with Fed – business live

Rolling coverage of the latest economic and financial news, as former PM criticises Bank of England and claims UK faces ‘economic doom loop’People in the UK: how have you been affected by the rise in food prices?The FCA’s investigation into Drax comes five months after the company’s former top lobbyist accused it of “misleading the public, government and its regulator” over its sourcing of wood for biomass pellets.In a claim for unfair dismissal, Rowaa Ahmar, Drax’s former head of public affairs, said evidence suggested Drax was “unable to prove that it only sourced sustainable wood for its biomass, and that it was in fact using unsustainable wood”. Continue reading...

Events

5 d. ago Tesla sales fell 40% across Europe in July; Drax shares tumble 10% after FCA launches investigation – business live

Rolling coverage of the latest economic and financial newsShares in power generator Drax have tumbled by 10% after it revealed this morning it is being investigated by the City watchdog.Traders drove Drax’s share price down to 630p in early London trading, down from 703.5p last night, following the news that the FCA is probing whether its recent annual reports comply with UK Listing Rules.Meanwhile, possible electricity rate adjustments and higher rice tariffs could raise inflationary pressures over the policy horizon. The Monetary Board observed that domestic demand has held firm. However, the impact of US policies on global trade and investment continue to weigh on global economic activity. This could temper the outlook for the Philippine economy. Continue reading...

Economics

5 d. ago Lego sales rise as parents steer children to activities away from smartphones

Record lift for Danish firm comes as sales for UK-based Yoto, creator of screen-free speakers for children, almost doubleLego said it could be benefiting from parents’ desire to keep children – and themselves – away from smartphones as sales rose 12%, helped by strong sales of its Botanicals and Formula One grand prix-themed sets.The Danish toy company said sales increased to a record 34.6bn Danish kroner (£4bn) in the first half of the year, rising well ahead of the recovering global toy market in which sales rose 7%. Continue reading...

Society

5 d. ago Lego builds record sales of £4bn as parents steer children away from smartphones

Danish toymaker’s first-half profits also rise, and sales almost double at UK-based Yoto, creator of screen-free speakers for childrenLego said it could be benefiting from parents’ desire to keep children – and themselves – away from smartphones as sales rose 12%, helped by strong sales of its Botanicals and Formula One grand prix-themed sets.The Danish toy company said sales increased to a record 34.6bn Danish kroner (£4bn) in the first half of the year, rising well ahead of the recovering global toy market in which sales rose 7%. Continue reading...

Economics

9 d. ago Vinted, eBay and Etsy users urged to beware of crucial HMRC alert

From 2025, HMRC began receiving a wealth of online data concerning sales and those who make more than 30 transactions per year

Events

1 week ago OnlyFans owner paid $701m in dividends as platform readies for potential sale

Streaming platform known for subscription-based adult content reports $1.4bn revenue and rising usageThe owner of OnlyFans was paid $701m (£523m) in dividends last year as the streaming platform best known for offering adult content readies for a potential multibillion-dollar sale.The UK-based company, which offers a range of subscription-based content from sex workers and celebrities, reported revenue of $1.4bn in its 2024 financial year, up 9% compared with the year before, accounts filed at Companies House on Friday show. Pre-tax profit rose 4% to $683.6m. Continue reading...

Events

1 week ago Pandora’s Black Friday 2025 sale is your chance to save on jewellery staples

Previous years have seen up to 30 per cent off rings, bangles, earrings and more

Politics

1 week ago The Zara Black Friday deals I’m looking forward to – plus savings to shop now

Previous years have seen site-wide discounts and up to 50 per cent off

Economics

1 week ago OpenAI eyes world’s largest valuation for private company in stock sale talks

Maker of ChatGPT reported to be considering $6bn share sale that would boost valuation to $500bn – above SpaceXThe maker of ChatGPT is on the cusp of becoming the world’s most valuable private company. OpenAI is in talks to sell $6bn in shares, which would boost its valuation to $500bn, according to multiple reports. The artificial intelligence startup’s stock would be sold to investors by current and former employees.OpenAI has seen exponential growth over the past year. Investors, including Microsoft and SoftBank, have poured at least $40bn into the startup, giving it a valuation of $300bn as of March. Last October, it was valued at $157bn. Continue reading...

Economics

2 w. ago London Theatre Week: London’s biggest West End theatre sale is back for summer 2025

London Theatre Week: London’s biggest West End theatre sale is back for summer 2025  Time Out Worldwide

Politics

2 w. ago Downton Abbey costumes and memorabilia for sale in charity auction

Lady Mary Crawley’s wedding dress and the Granthams’ family car, a 1925 Sunbeam Saloon, are among the lotsDownton Abbey fans will be able to secure a souvenir from the period drama as costumes worn by the characters, furniture used to adorn the stately home, and even the family car used in the popular ITV series and subsequent films are to be sold at auction for charity.A dress worn by the late Dame Maggie Smith, who starred as Violet Crawley, Dowager Countess of Grantham, is one of the star lots. Continue reading...

Economics

2 w. ago Homes for sale in England and Scotland near a golf course – in pictures

From a flat that gives owners direct access to the club, to a detached home with only a hedge separating it from the course Continue reading...

Politics

3 w. ago Nvidia and AMD agree to pay 15% of China chip export revenues to US

Unprecedented deal, an apparent reversal of security restrictions, is in return for licences to sell to ChinaThe chipmakers Nvidia and AMD have agreed to give the US government 15% of their revenue from advanced chips sold to China in return for export licences to the key market.The unprecedented move, an apparent reversal of US national security restrictions on the chip sales, signalled an easing in the US-China trade war. Continue reading...

Politics

3 w. ago Arnprior pumpkin patch unveils 2025 dates and when tickets go on sale

One of Scotland’s pick your own pumpkin farms is gearing up for their busiest time of the year.

Politics

3 w. ago OpenAI in talks on share sale that would price it at more than Musk’s SpaceX

If transaction goes ahead value of ChatGPT developer would rise to $500bnBusiness live – latest updatesOpenAI is reportedly in early talks about a sale of shares held by current and former employees that would price the ChatGPT developer at half a trillion dollars, overtaking Elon Musk’s SpaceX in valuation.If the transaction goes ahead, the value of the San Francisco-based company would rise by about two-thirds, from $300bn (£225bn). The valuation would exceed that of Musk’s rocket company, which is currently worth $350bn and is reportedly circling a $400bn price tag in a new fundraising. Continue reading...

Technology

3 w. ago Sales of Novo Nordisk’s diabetes drugs including Ozempic slow sharply

Fierce competition and threat of Trump tariffs lead to Danish company cutting costsSales of Novo Nordisk’s injectable diabetes drugs including Ozempic have slowed sharply amid fierce competition and the threat of US tariffs, prompting it to cut costs and sharpen its commercial focus.The Danish drugmaker, whose booming sales of GLP-1 diabetes and obesity drugs in recent years had turned it into Europe’s most valuable company, has lost $95bn (£71.5bn) in market value since cutting its full-year sales forecast last week. Continue reading...

Events

3 w. ago Tesla’s UK sales fall almost 60% in July as BYD surges; Neil Woodford fined and banned over fund collapse – business live

Rolling coverage of the latest economic and financial newsBritain’s service sector companies were hit by a drop in orders last month, as demand at home and abroad remained sluggish.Service sector growth slowed last month amid a decline in new work, according to the latest survey of purchasing managers from data firm S&P Global.“UK service providers recorded a third consecutive monthly rise in business activity, but they were unable to maintain the growth rate achieved in June.Moreover, new business intakes swung back into contraction during July, with the downturn in order books the fastest for just over two-and-a-half years. Risk aversion and low confidence among clients were the main reasons provided for sluggish sales pipelines, alongside an unfavourable global economic backdrop. Continue reading...

Economics