TUI open to new majority shareholder following resignation of sanctioned Russian billionaire January 17, 2023 TUI admitted it was looking for a new majority shareholder, 10 months after EU sanctions forced the resignation of Alexei Mordashov. Vladimir Putin ally and Russian billionaire Alexei Mordashov became a target of Europe’s sanctions against Moscow following Russia’s invasion of Ukraine in March 2022. The sanctions meant TUI was left scrambling for a new [...]
British Gas owner facing shareholder showdown over chief’s £4.5m bumper pay June 13, 2023 British Gas owner Centrica has announced that the operating profits for its retail arm will be "significantly higher than in previous years."
Echo Falls, Kumala and Lambrini owner Accolade Wines raises prices and considers selling brands as losses widen April 8, 2024 The UK arm of Accolade Wines, the company behind the likes of Hardys, Echo Falls, Kumala and Lambrini, is to continue raising its prices as it bids to return to profit.
Ericsson pushes back against Russian equipment exports September 25, 2022 Ericsson pushed back against reports that it had continued to export equipment to Russia even after war had erupted in Ukraine. In a statement released over the weekend, the Swedish telecom equipment maker said the initial coverage from media outlet Swedish Radio was “factually incorrect” and disputed claims that it was granted a series of [...]
Ericsson to wrap up remaining Russian operations, says local state media August 29, 2022 Ericsson will wrap up its remaining Russian operations by the end of this year, according to local state media. The Swedish telecom equipment manufacturer announced in February, following Russia’s invasion of Ukraine, that it would suspend deliveries to customers in Russia, in line with Western sanctions. Then in April, the company placed its Russian employees [...]
OPEC+ meeting delay sends oil prices south November 22, 2023 Oil prices dived today following the news that the Organisation of the Petroleum Exporting Countries (OPEC+) has postponed its upcoming meeting.
Shapps pledges to ‘max out’ North Sea’s oil and gas reserves July 23, 2023 The government will “max out” the UK’s remaining reserves of North Sea oil and gas, declared energy security secretary Grant Shapps.
High gas prices are here to stay reveals Investec, as price cap predictions hit £5,000 August 11, 2022 Higher gas prices, including in the summer when demand is supposed to be at its lowest, are a long-term trend argued asset manager Investec.
European inflation up after months of decline casting doubt on ECB interest rate cuts January 5, 2024 Inflation plaguing Europe increased to 2.9 per cent in December, after seven straight monthly declines, figures show. The rise in price levels cast doubt on predictions for swift interest rate cuts from the European Central Bank (ECB). The figure released on Friday was up from the 2.4 per cent annual inflation recorded in November – [...]
Explainer: Rishi Sunak goes further with military support for Ukraine May 15, 2023 The United Kingdom has been holding a leading role in gathering Western support for Ukraine since Russia’s invasion. Ukrainian president Volodymyr Zelenskyy used to call Boris Johnson “a true friend” and praised him even in his last days as prime minister. Johnson was, indeed, the most vocal supporter of Zelenskyy, and took leadership in ensuring [...]