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How an Icelandic firm became a global food giant

November 23, 2017

Hundreds of freshly caught cod are moving at pace down a conveyor belt, before automated paddles pop out to send the fish splashing, one by one, into storage tanks below. From there the cod, pulled from the cold water of the North Atlantic just a few hours earlier, enter a machine where the two sides […]

British Gas owner Centrica warns about poor trading

British Gas has lost 823,000 domestic customer accounts, nearly 6%, since the end of June. Owner Centrica said 150,000 of those accounts had switched to other providers, some of them because it raised prices in September. The news, unveiled in a warning about poor trading, sent Centrica shares tumbling by 17%. Centrica said operating profits would be […]

UK car production rises in October

The number of cars built in the UK last month rose by 3.5% compared with a year earlier, driven by higher exports. Just over 157,000 vehicles were made in UK factories in October, according to the Society of Motor Manufacturers and Traders (SMMT). Production for export increased by 5%. But output for the domestic market […]

Budget 2017: Stagnant earnings forecast ‘astonishing’

It is “astonishing” that by 2022 average UK earnings could still be less than in 2008, according to an independent economic think tank. Paul Johnson, director of the Institute for Fiscal Studies, made the observation in his review of the 2017 Budget and official economic forecasts. The forecasts for productivity, earnings and economic growth made […]

Budget 2017: Philip Hammond hopes to prove grim forecasts wrong

Philip Hammond says he hopes to prove the bleak economic forecasts released in his Budget wrong. The chancellor said clarity around Brexit would increase consumer confidence and lead to higher growth in the economy. But a new report has warned of the longest fall in people’s living standards since records began over 60 years ago. Labour said […]

Tencent chief ‘richer than Google founders’

November 21, 2017

The value of China’s biggest social network company – Tencent Holdings – has overtaken that of Facebook. The company owns WeChat, an enormously popular messaging app in China, and hit gaming franchises such as League of Legends and Honour of Kings. It is the first Asian firm to surpass a market value of $500bn (£377bn). […]

Jungle explorer Benedict Allen tells of malaria and tribal wars

Explorer Benedict Allen encountered a tribal war, was caught in electrical storms and fell ill with malaria and dengue fever on an ill-fated jungle trek in Papua New Guinea, he has said. A search was mounted last week after Mr Allen missed planned flights. He was rescued by helicopter a few days later. Speaking to […]

Ineos expands into North Sea oil and gas exploration

Chemicals giant Ineos is making a move into deep water oil and gas exploration in the North Sea. Ineos has bought a majority stake in two exploration licences in areas far to the north of Shetland, thought to have strong prospects for gas reserves. It is the latest deal for the privately-owned group which recently […]

EasyJet profits fall after ‘difficult year’ for aviation

EasyJet’s profits have fallen during what the airline called a “difficult year for the aviation industry”. Pre-tax profits in the year to 30 September fell 17.3% to £408m, in line with guidance given last month. Passenger numbers rose 9.7%. These are the last results overseen by chief executive Carolyn McCall, who is moving to become […]

UK government borrowing grows in October

UK public sector borrowing rose to £8bn in October, official figures show, up £500m from a year earlier. The figure comes a day before the Budget, and the monthly deficit was bigger than economists had predicted. Increased debt costs, linked to the UK’s higher inflation since the Brexit vote, were a factor in the shortfall. […]

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