12 h. ago Ocado shares tumble again after online grocer posts £375m losses as it plans to cut R&D jobs

Ocado, which runs robotic warehouses for other firms alongside its Ocado Retail venture with M&S, has spent more than £800m on R&D over the past four years.

Economics

23 h. ago Ocado shares crash amid further job cut plans and disappointing outlook for 2025

Shares were down as much as 18 per cent in morning trading after their announcement

Events

44 h. ago BP to ramp up oil and gas output in major shift away from green goals

Fossil fuel firm will cut more than $5bn from low-carbon investment plan in ‘fundamental reset’Business live – latest updatesBP is dropping green goals, ramping up oil and gas production and slashing spending on low-carbon energy as part of a fundamental reset of the troubled company.The FTSE 100 fossil fuel company has promised shareholders it will increase its target for oil and gas production by 2030 to the equivalent of about 2.4m barrels a day – about 60% higher than the figure in its net zero plan set out five years ago. Continue reading...

Politics

47 h. ago BP to raise oil and gas spending to $10bn a year in pivot away from green goals

Firm confirms plans to scale back green energy efforts and ‘fundamentally reset’ strategyBusiness live – latest updatesBP will abandon its green ambitions by increasing its oil and gas investment to $10bn a year as part of a fundamental reset of the troubled company’s strategy.The company has confirmed that it will scrap its plan to cut its fossil fuel production and will instead grow production to 2.3m–2.5m barrels of oil a day by the end of the decade. Continue reading...

Economics

47 h. ago BP ramps up oil and gas investment to $10bn a year in ‘fundamental reset’ – business live

Oil and gas giant abandons green ambitions, as boss says it will be ‘very selective’ about investing in fossil fuel alternativesBP will abandon its green ambitions, including plans to cut its oil and gas production by the end of the decade, as part of a “fundamental reset” of the troubled company’s strategy.Instead, it is ramping up its oil and gas investment to $10bn a year.Today we have fundamentally reset BP’s strategy. We are reducing and reallocating capital expenditure to our highest-returning businesses to drive growth, and relentlessly pursuing performance improvements and cost efficiency. This is all in service of sustainably growing cash flow and returns.This strategy will see BP grow its upstream oil and gas business, focus its downstream business, and invest with increasing discipline into the transition.Connecting offshore wind farms such as Sofia helps harness the power of the North Sea to keep the lights on and deliver homegrown energy to British consumers.OFTO is par...

Economics

4 d. ago The ‘major existential threat’ facing Scotland's universities hit by 'huge' 22% cut

The plea on behalf of Scottish universities comes with Cardiff confirmed plans to cut 400 jobs last month

Events

6 d. ago Stirling ticket office hours given reprieve after public consultation on plans

The Scotrail initiative planned to cut manned ticket office hours across Scotland's station in response to changing customer habits in buying tickets.

Politics

7 d. ago A third of small firms will cut jobs over new employment bill and rising labour costs

A third of small firms are planning to cut jobs ahead of the new employment bill and rising labour costs, according to a recent poll by the Federation of Small Business.

Economics

8 d. ago Martin Lewis warns of ‘loophole’ in new Ofgem plans to cut energy standing charges for all households

Standing charges currently cost households around £300 each year.

Events

8 d. ago UK seaside town's £16m protection plans and fears major castle will be cut off

The Environment Agency has responded to growing concerns that a castle built by Henry VIII could become separated from the shore amid '£16 million' rewilding proposals

Economics

8 d. ago Third of small firms plan to cut jobs over rising costs and new worker rights

A poll of nearly 1,400 firms in the final quarter of last year found that 33% expect to reduce their workforces

Economics

8 d. ago Third of small businesses plan to cut staff amid fears that Angela Rayner's overhaul of workers' rights will 'wreak havoc' on 'a fragile' UK economy, industry leaders warn

The Deputy Prime Minister's plan includes expanding the grounds for unfair dismissal and could hit businesses with higher sick pay costs.

Events

8 d. ago Trump defense chief reportedly orders Pentagon to plan for sweeping budget cuts – US politics live

Pete Hegseth orders leaders to develop plans to cut 8% of budget in each of next five years, Washington Post reportsAs Donald Trump’s administration continues to fire thousands of federal workers and radically slash federal spending, some Republicans are growing unnerved, Axios reports.As the cuts start to hit GOP lawmakers’ districts and states, some have told Axios there is a larger conflict brewing over the constitutional issue of whether the president can bypass Congress on such decisions.I think you’re going to see a clash when they start abolishing [agencies]. Say like USAid, right? We authorized that. That’s a creature of Congress. If they try to do something like that, then you’re going to get into a constitutional argument or crisis.Before making cuts rashly, the administration should be studying and staffing to see what the consequences are. Measure twice before cutting. They have had to backtrack multiple times.We all want efficiencies, there is a way to do it, and the wa...

Politics

8 d. ago Ofgem reveals ‘low or no standing charge’ energy tariff plan to help cut bills

Standing charges are applied daily, regardless of how much energy the customer uses, and many campaigners say they affect vulnerable customers more.

Economics

8 d. ago Trump administration reportedly orders Pentagon to plan for sweeping defense budget cuts – live

Hegseth orders senior leaders at the Pentagon to develop plans to cut 8% of the defense budget in each of the next five years, the Washington Post reportsAs Donald Trump’s administration continues to fire thousands of federal workers and radically slash federal spending, some Republicans are growing unnerved, Axios reports.As the cuts start to hit GOP lawmakers’ districts and states, some have told Axios there is a larger conflict brewing over the constitutional issue of whether the president can bypass Congress on such decisions.I think you’re going to see a clash when they start abolishing [agencies]. Say like USAid, right? We authorized that. That’s a creature of Congress. If they try to do something like that, then you’re going to get into a constitutional argument or crisis.Before making cuts rashly, the administration should be studying and staffing to see what the consequences are. Measure twice before cutting. They have had to backtrack multiple times.We all want efficiencie...

Politics

9 d. ago HSBC reveals plans to cut jobs amid bid to slash costs by £1.2bn

The banking group said it will reduce its global staff costs by around 8% under the overhaul.

Economics

9 d. ago Elon Musk weighs $5k ‘dividends’ for Americans with DOGE savings he has yet to prove

Musk is already hinting at sharing Doge savings while nation is still massively in debt with Republicans planning a huge tax cut

Economics

9 d. ago Elon Musk weighs $5,000 DOGE ‘dividend’ for Americans with savings he has yet to prove

Musk is already hinting at sharing Doge savings while nation is still massively in debt with Republicans planning a huge tax cut

Economics

1 week ago Shein under pressure to cut valuation of planned London float – reports

The fast fashion retailer has been in talks over an initial public offering on the London Stock Exchange over the past 12 months.

Events

1 week ago Firms planning to cut recruitment and increase redundancies – report

Many businesses are planning to reduce headcount, raise prices and cut investment in workforce training, survey suggests.

Politics