22 h. ago Kingsmill owner agrees to buy Hovis in £70m deal paving the way for Britain's biggest bread brand

Britain's biggest bread brand is on the brink of being created after Kingsmill's owner agreed to buy rival Hovis Group.

Economics

24 h. ago Chinese economy slows as Trump tariffs bite; FTSE 100 on track to hit new record

Rolling coverage of the latest economic and financial newsThe owner of Kingsmill has agreed to buy its rival bakery business Hovis, in a deal that could make the biggest bread brand in the country if it gets the green light from regulators.Associated British Foods, a FTSE 100 company which also owns the retailer Primark, has agreed to buy Hovis from the private equity firm Endless.This transaction will create a UK bakeries business that is both profitable and sustainable over the long term. Supporting the Hovis and Kingsmill brands with well-invested and efficient operations will also enable innovation and growth. This solution will create value for shareholders, provide greater choice for consumers and increase efficiencies for customers.Firms may be running on existing capacity rather than building new plants The July industrial value-add breakdown tells a more nuanced story than the weak fixed asset investment headline. Continue reading...

Politics

40 h. ago British Gas owner buys £1.5bn gas terminal in big bet on fossil fuel reliance

Deal for Europe’s biggest facility for LNG imports comes as overall UK gas demand fell sharply last yearThe owner of British Gas has placed a £1.5bn bet on the UK’s future reliance on fossil fuel imports after striking a deal to buy Europe’s biggest gas import terminal.Centrica plans to partner with a US private equity firm to acquire the Isle of Grain terminal in Kent, which can import 15m tonnes of liquefied natural gas a year, even after Britain’s gas demand fell last year to its lowest level since the early 1990s. Continue reading...

Economics

47 h. ago British Gas owner takes stake in Europe’s biggest LNG terminal in £1.5bn deal

Centrica and Energy Capital Partners have agreed to acquire the Isle of Grain terminal from current owner National Grid.

Economics

61 h. ago Hurricanes owner Tom Dundon strikes tentative deal to buy the Portland Trail Blazers

Paul Allen’s estate has agreed to a tentative agreement to sell the Portland Trail Blazers to a group led by Carolina Hurricanes owner Tom Dundon, a person with knowledge of the negotiations tells The Associated Press

Economics

4 d. ago Elon Musk's Tesla wants a slice of UK energy market and could supply homes in months

The billionaire tycoon has applied for a licence from Ofgem in a bid to take on the leading energy supply giants like British Gas owner Centrica and Octopus Energy to supply homes across the UK

Politics

4 d. ago British Gas, Octopus Energy, EDF and more could soon face competition from Elon Musk's Tesla

It has applied for an energy licence from regulator Ofgem

Politics

6 d. ago Truckers at war: British HGV drivers in a fight for survival as violent gangs hit them with targeted 'gas attacks' at UK service stations

Britain's truckers are fighting for survival in a war with dangerous criminals who beat them up on the roadside, gas them in their cabs and steal fuel and cargo on a daily basis.

Events

9 d. ago Former Crystal Palace owner John Textor ‘interested’ in buying Sheffield Wednesday

Textor sold his 43 per cent stake in Crystal Palace in July

Politics

1 week ago British Airways owner IAG's shares have soared 130% in the past year

Since the beginning of the year, the British Airways owner's shares have gained more than 25%, having recovered swiftly from a Trump-tariff related downturn.

Politics

1 week ago Octopus Energy, British Gas, EDF, EON and Ovo bills can be slashed by £100 with one move

Energy bills have been rising in recent years and the trend is expected to continue. However, homeowners could save £100 on their annual bill with this easy fix

Economics

4 w. ago People are just realising what Noel Gallagher's job was before Oasis

Noel Gallagher used to work for British Gas and now they don't want anyone called Sally to wait after embracing his old role

Politics

4 w. ago Noel Gallagher lookalike offers VIP engineering support in British Gas 'Sally Can't Wait' campaign

Oasis superstar Noel Gallagher, currently on a sold-out comeback tour with brother Liam, composed some of the band’s early hits, including Live Forever, in a British Gas storeroom

Politics