16 h. ago Danish firm shelves huge UK windfarm project over rising costs

Ørsted cancels fourth stage of Hornsea project off Yorkshire coast, which was expected to include 180 giant turbinesOne of the UK’s largest planned offshore windfarms has been cancelled by its developer, the Danish wind power company Ørsted, as a result of higher costs and greater risk.The fourth phase of the huge Hornsea windfarm development, located off the Yorkshire coast, was expected to include 180 giant turbines, capable of generating the equivalent of enough green electricity to power 1m homes. Continue reading...

Economics

8 d. ago Adidas cautions over higher prices and halts outlook upgrade due to tariff woes

The German sportswear giant said prices will rise in the face of cost increases from Donald Trump’s move to raise trade tariffs on goods into the US.

Economics

9 d. ago Wes Streeting says big NHS change will save patients money 'and there's much more to come'

Health Secretary Wes Streeting tells the Mirror why he's keeping prescription charges below a tenner after a decade of rises under the Tories, to help with the cost of living crisis

Science

1 week ago Nissan warns of £4bn loss as costs rise and Trump tariffs loom

Japanese carmaker blames worsening outlook on ‘competitive environment and deteriorating sales’Nissan says it expects to lose as much as £4bn this year because a turnaround plan will be more costly than expected.The expected loss at Japan’s third-largest carmaker is almost 10 times the figure it had previously guided. Continue reading...

Economics

2 w. ago Could Trump’s tariffs give a green light for corporate profiteering?

Expectations of inflation, and recent waves of price rises, could be self-fulfilling and fuel ‘greedflation’ – and it may not only apply to US consumersOver the past few years consumers have grown used to seeing prices rise at an exorbitant rate. The cost of everything – from used cars to utility bills and the humble loaf of bread – has rocketed in the worst inflation shock across advanced economies since the 1980s.While inflation has cooled in the past year, talk of fast-rising prices is back on the agenda from Donald Trump’s escalating trade war. Continue reading...

Politics

2 w. ago It is risen! Cost of traditional Easter Sunday roast increases by 11% in a year

An own-label whole leg of lamb is now an average of £14.44 per kilogram across the four major supermarkets, up by £1.81 or 14 per cent from £12.63 when compared to the same period last year.

Politics

2 w. ago Major Scottish university plans fresh cuts as costs rise by £4.7m in 'unprecedented times' for sector

Ancient institution said the move was ‘regrettable but necessary’

Economics

3 w. ago Premium Bonds rates could rise as NS&I decision marks 'big shift'

NS&I has raised a raft of the rates on its British Savings Bonds this week

Politics

3 w. ago SNP minister claims her £19,000 pay rise won't cost the taxpayer a single penny

SNP ministers have faced a backlash after they were handed whopping pay rises.

Economics

3 w. ago Asian shares sell off as US curbs on Nvidia chip sales to China fuel trade fears; UK inflation slows to 2.6% – business live

Gold surges nearly 2% to new record high; UK food inflation slows and fuel prices fall while clothes prices riseFinancial markets are betting on an interest rate cut from the Bank of England meeting at its May meeting, estimating an 86% probability.They have fully priced in three quarter-point rate reductions this year.A sharp pickup in inflation from April is all but guaranteed. Ofgem’s 6.4% increase to its price cap, after a large fall last year, means we expect the energy component will add 0.7ppts to CPI inflation in April. A significant increase in water bills means the contribution from the core goods category is also set to rise. In addition, we expect businesses to pass on some of the increase in labour costs caused by the recent rises in employers’ National Insurance Contributions (NICs) and the National Living Wage onto consumers. Inflation is likely to peak in the autumn, before starting to cool as the contribution from the energy category fades.The MPC has lowered Bank R...

Economics

3 w. ago Beat the PS5 price rise: The best deals available before cost increase

Grab Sony’s powerful gaming machine for as low as £329, with a free game, before the price rise kicks in

Economics

3 w. ago Octopus postcode electricity plan could lead to higher bills in key part of UK

The energy giant is urging the government to introduce regional tariffs based on local supply and demand - a move that could see electricity costs rise in the South East

Science

3 w. ago Supermarket's sales boost sees it rise up the rankings, surpassing Asda

The German discounter performed better than some of its rivals, outselling them in food and drink, an achievement Asda has since contested

Economics