2 w. ago UK grocery watchdog investigating Amazon over alleged supplier payment delays; company insolvencies jump – business live

Groceries Code Adjudicator calls on suppliers to share their experiences of working with AmazonThe number of companies collapsing across England and Wales jumped last month, in a sign of the economic pressures hitting firms.There were 2,238 company insolvences in England and Wales during the month, which is 8% higher than in April and 15% more than in May 2024.“This latest rise in corporate insolvencies reflects the harsh reality many businesses face: fragile demand is not keeping pace with rising costs. Even the increasingly-likely prospect of rate cuts in August won’t do much to fix this – insolvency levels will remain elevated for the foreseeable future.“Sectors like hospitality are having a particularly challenging time in this environment, in no small part due to the impact on labour costs of April’s National Insurance and minimum wage increases. These businesses are now approaching what are some of their peak months and will be hoping for strong trading to bolster their resili...

Economics

2 w. ago Trump claims EU is not yet offering a fair trade deal – business live

Rolling coverage of the latest economic and financial newsTrump says UK is protected from tariffs ‘because I like them’ as trade deal is signed offIran and Israel crisis: what does it mean for the price of oil?Global oil supply is set to increase “far” faster than demand in the coming years, the International Energy Agency has predicted.In a new report, the IEA argues that oil markets are undergoing structural changes as the key drivers of supply and demand growth of the past 15 years start to fade.This growth is set to be dominated by robust gains in natural gas liquids (NGLs) and other non-crude liquids. The strategic shift towards higher non-crude capacity is driven by strong global demand for petrochemical feedstocks and the development of liquid‑rich gas resources.UK’s FTSE 100: -46 points or -0.5% at 8828 pointsGerman DAX: down 267 points or -1.1% at 23,430 pointsFrench CAC: down 61 points or -0.8% at 7,680 pointsAfter rallying on Monday on hopes that the Israel and Iran confl...

Economics

2 w. ago Fuel tanker rates surge as Middle East crisis worries markets – business live

Rolling coverage of the latest economic and financial newsTrump says UK is protected from tariffs ‘because I like them’ as trade deal is signed offIran and Israel crisis: what does it mean for the price of oil?Over in Tokyo, Japan’s central bank chief has warned that the jump in the oil price, if maintained, could push up inflation.Speaking after the BoJ left interest rates on hold today, governor Kazuo Ueda told reporters:“Coupled with already rising food prices, such moves in oil prices caused by tensions in Iran and Israel, if persist, could risk affecting inflation expectations and underlying inflation. So we must scrutinise developments carefully.”“Even if developments surrounding U.S. trade policy stabilise toward a certain direction, there’s very high uncertainty on how that could affect the economy .For the time being, there is extremely high uncertainty over each country’s trade policy. As such, there is bigger downside risk for both Japan’s economy and prices.” Continue re...

Events

3 w. ago Business news live: Oil prices surge at highest rate in years amid Israel

Stock market reaction and business news for Friday

Politics

3 w. ago Oil surges after Israel’s attack on Iran, risking ‘stagflationary shock’ – business live

Rolling coverage of the latest economic and financial newsIsrael launches strikes on ‘dozens’ of targets in Iran, targeting nuclear programmeBudget airline Wizz, whose shares are down almost 5% today, says it has suspended flights to Tel Aviv and re-routed flights affected by closed airspace in the region for the next 72 hours.The jump in the oil price today, following Israel’s attack on Iran, is a “bad shock for the global economy at a bad time”.For the average consumer, they will be looking at more income uncertainty. They will be looking at higher petrol prices, and in the UK, they’re probably looking now at higher risk of taxation in October.So whatever way you look at it, it’s negative short term, it’s negative longer term. Continue reading...

Events

3 w. ago Business news live: Oil prices surge after Israel attacks Iran, FTSE 100 falls after all time high

Stock market reaction and business news for Friday

Politics

3 w. ago Business news live: Oil prices surge after Israel attacks Iran, FTSE 100 drops after all time high

Stock market reaction and business news for Friday

Politics

3 w. ago Oil surges after Israel’s attack on Iran, as markets slide – business live

Rolling coverage of the latest economic and financial newsIsrael launches strikes on ‘dozens’ of targets in Iran, targeting nuclear programmeEuropean stock markets have joined the global selloff, as the overnight escalation in the Middle East has triggered a wave of risk-off sentiment.Here’s now the main indices have fallen:Germany’s DAX: -1.35%France’s CAC: -1.2%Italy’s FTSE MIB: -1.45%Spain’s IBEX: -1.55%This alarming escalation in the Middle East has likely caught many investors off guard. Those who have been looking for an opportunity to sell stocks and take profits are now becoming active. It seems the DAX has seen its yearly high from just over a week ago for the time being.Oil prices are skyrocketing as fears grow not only regarding the disruption of Iran’s recent strengthened oil exports but also the potential targeting of other oil production facilities in the region, should this conflict escalate further. Additionally, the transportation of oil through the Strait of Hormuz...

Politics

3 w. ago Asian shares slide while oil prices surge after Israel's strike on Iran

Asia shares have opened lower while oil prices surged after Israel attacked Iran’s capital early Friday amid tensions over Tehran’s rapidly advancing nuclear program

Politics