Browsing: Business

The Guardian says Britain’s annual inflation rate rose to 6.2% in February and now stands at its highest level in three decades.

The Guardian says Ferry operator P&O has revealed it is paying £36.5m to cover compensation for the 800 seafarers it sacked without warning.

BBC News says the US has agreed to ease Trump-era tariffs on UK steel and aluminium shipments, resolving an issue that had strained relations between the allies.

BBC News says Indian agency workers hired to replace P&O Ferries crews in Dover are being paid £1.81 an hour, a union claims.

The Metro says another 30 British companies have signed up to a six-month pilot of a four-day working week.

The Guardian says Ministers and trade unions have condemned P&O Ferries’ mass sacking of 800 British seafarers to replace them with agency crew.

The Independent say Cineworld has said a “strong” slate of films at the end of 2021, including James Bond film No Time To Die and Spider-Man: No Way Home, helped audience numbers to rebound sharply.

Arab News says on Tuesday, oil prices fell to a two-week low following continued ceasefire talks between Russia and Ukraine.

The Guardian says the poorest households in the UK could see their cost of living jump by as much as 10% by this autumn if Russia’s invasion leads to a prolonged conflict.

The Guardian says Britain’s economy bounced back from the Omicron variant of coronavirus at a faster pace than expected during January, as consumers returned to eating and drinking out in pubs and restaurants.

TRT World says McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric –– ubiquitous global brands and symbols of US corporate might.

The Metro says Energy giant Shell has announced it will stop buying oil and gas from Russia and shut all of its service stations in the country.

The Independent says the economic fallout from conflict in Ukraine will help trigger the biggest fall in living standards for Brits since the mid-1970s, according to the Resolution Foundation, a leading think tank.

The Independent says Oil prices soared on Sunday to their highest point since mid-2008, as the global market continued to suffer the consequences of Russia’s assault on Ukraine.

The Metro says some 2,000 workers at Sainsbury’s may lose their jobs after the supermarket is set to shut around 200 of its in-store cafes.

The Guardian says MPs will get a £2,200 pay rise from next month, sparking a backlash given the change will coincide with the national insurance hike and a growing “cost of living crisis”.

The Guardian says Rishi Sunak is facing renewed pressure from business leaders to delay a planned £12bn rise in national insurance, amid warnings over soaring costs for companies and households.

The Independent says BP shares dropped sharply as the markets opened lower again in London while oil prices surged.

BBC News says British Airways passengers call airline ‘woeful’ after being caught up in a second weekend of delays and cancellations.

Russia has banned British airlines from landing at Russian airpots and crossing its airspace, says the Russian civil aviation regulator.

The Guardian says The Co-operative Bank has more than tripled its bonus pot for bankers after a “milestone year” that resulted in its first profit in a decade.

Arab News says Oil breached $100 a barrel for the first time since 2014 on Feb. 24 and gold is up, while cyrptocurrencies —Bitcion and Ether — are sinking.

House prices have skyrocketed in just one month as the easing of Covid situation has reignited interest in city living, according to a new report.

The Independent says UK inflation has stayed at a near 30-year high after rising further in January as Britain remains in the grip of a tightening cost-of-living squeeze.

The Independent says Scotland’s business owners are the most confident they have been in six months, a bank’s analysis has said, as the country’s economy continued to rebound from coronavirus.