Introduction: Sky owner agrees to buy ITV’s broadcasting business in £1.6bn deal Happy Monday and good morning to those of you who had a late night celebrating England’s win in Mexico. And to kick off the week: ITV has agreed to sell its broadcasting and streaming business to Sky in a £1.6bn deal, in a … Read more
The 250th anniversary of the Declaration of Independence has arrived at a moment of some embarrassment for the Republic. The United States of America, established to overthrow a mad king, has elected, 250 years later, a mad king of its very own. America is setting itself on fire at its birthday party. It always had … Read more
The boss of Currys has warned that supplies of air conditioning and fans are “tight” ahead of an expected fresh UK heatwave next week, after a recent boom in sales left retailers scrambling to source new stock. Alex Baldock, chief executive of the electrical goods retailer, said cooling kit had been “flying off the shelves” … Read more
Grocery inflation in the UK has not been as bad as feared so far, the boss of Sainsbury’s has said, but “pressure in the system” remains as the industry hopes for a swift resolution to the Middle East conflict. Simon Roberts, the chief executive of the UK’s second largest supermarket, said it was still early … Read more
The boss of Ocado has collected nearly £100m since the online grocery company floated on the stock market in 2010, despite its share price now languishing below its flotation level, analysis has shown. Tim Steiner, a former Goldman Sachs trader who co-founded the British technology company in 2000, is thought to be in discussions over … Read more
As Keir Starmer bid a brief and emotional farewell at that pillory of a lectern, there was a moment for some to ask: what have we done, and why? He’s not a bad man, not a Boris Johnson or Liz Truss rogue prime minister. How decadent, if lack of charisma has become a sacking offence. … Read more
Introduction: SpaceX share price fall hits Musk’s wealth Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Elon Musk could soon be down to his last thousand billion dollars, after the share price of his recently floated SpaceX came under pressure this week. Musk became the world’s … Read more
Key events UK gilt yields are also broadly unchanged, signalling investors have long expected this change at the top of UK government. The yield on the benchmark 10-year UK gilt is up 1 basis point on the day at 4.85%, unchanged from where they were prior to the announcement. Share Pound holds lower after Starmer … Read more
Jaguar Land Rover faces the risk of delays to the first deliveries of electric car batteries from a £5.2bn government-backed factory in Somerset after construction problems. The British carmaker is planning to rely on the Agratas factory in Bridgwater, Somerset, to supply the batteries for its new electric models. Agratas and JLR are owned by … Read more
Introduction: Bank of England interest rate decision today Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. UK households and businesses could be spared a rise in borrowing costs today, as the British economy creaks under the strain from the Iran war. The Bank of England is … Read more