Browsing: Business

The Independent says the UK economy shrank in March, as soaring living costs and the war in Ukraine hindered recovery from the pandemic.

BBC Business says Apple has lost its position as the world’s most valuable company amid a broad sell-off of technology stocks.

The Guardian says more than 250,000 households will “slide into destitution” next year, taking the total number in extreme poverty to around 1.2m, unless the government acts now.

The Guardian says Channel 4 is to make available 1,000 hours of hit shows on YouTube in the widest-ranging commercial deal the Silicon Valley giant has struck with a UK broadcaster.

Sky News says the soaring cost of living has seen consumers “put the brakes” on their shopping habits, new figures show.

BBC Business says the boss of Scottish Power has warned that millions of customers face an horrific winter unless there is a major government intervention in energy firms.

Daily Mirror says Oil giant BP’s profits have more than doubled in the past year as oil and gas prices soared for households.

The Metro says BP has revealed record underlying profits – as the living cost crisis continues across the UK.

The Guardian says the cost of household goods such as toys, furniture and clothing is rising by the fastest rate in more than 15 years as the impact of the war in Ukraine combines with Covid lockdowns in China.

BBC News says Business and government users on Twitter may need to pay a “slight” fee to stay on the social media platform, Tesla boss Elon Musk has said.

The Independent says BP has recorded its highest underlying profits for more than a decade after oil and gas prices soared.

TRT World says investors speculating over whether Elon Musk will complete his $44 billion acquisition of Twitter Inc have sent company shares to their lowest level.

The Guardian says the war in Ukraine will result in expensive food and energy for the next three years, the World Bank has warned.

The Guardian says Investors have wiped $126bn (£100bn) off Tesla’s value amid concern that Elon Musk may have to sell shares in the electric carmaker to fund his personal contribution to his $44bn acquisition of Twitter.

Euronews says Twitter will have to “adapt completely to European rules” whatever Elon Musk’s intentions regarding freedom of speech, the European Commission warned on Tuesday.

The Guardian says cabinet ministers have been ordered to come up with new “non-fiscal” ways to combat the cost of living.

BBC News says Business leaders have urged the prime minister to make this year’s extra bank holiday marking the Queen’s Platinum Jubilee permanent.

The Guardian says Elon Musk has reached a $44bn deal to buy Twitter in a takeover that will give the world’s richest man control of a social network with more than 200 million users.

The Metro says a billionaire investor has dramatically pulled his cash out of Netflix following a plunge in the streaming service’s share price.

The Metro says Elon Musk has weighed in on the current debate around Netflix’s reversal of fortunes.

The Sun says NATIONWIDE customers have been plunged into chaos as a major outage means their debit card payments are being DECLINED in shops and online.

TRT World says Netflix has said inflation, the Russian offensive in Ukraine, and fierce competition contributed to a loss of subscribers for the first time in more than a decade.

The Independent says the average rental asking price in the UK has jumped to a new record as demand continues to outstrip properties on the market, according to a report.

The Metro says Brits face a further squeeze on their household incomes after the rate of inflation rose to another 30-year high.

The Independent says household saving is expected to fall by 71% on last year to an average of £26 a week as inflationary pressures drastically reduce families’ ability to put money away, figures suggest.