Graphcore acquired by Japan’s SoftBank
UK-based artificial intelligence (AI) chip maker Graphcore has been acquired by Japanese holding company SoftBank Group Corp. It comes after Graphcore warned last year that there was uncertainty over its…
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Good growth for UK economy in May
The UK economy expanded by more than expected in May, following zero growth in April, according to the latest official data. Gross domestic product (GDP) grew by 0.4%, above economists'…
Barratt expects slowdown in housebuilding
UK housebuilder Barratt Developments is planning to build fewer homes during the coming year, as high mortgage costs continue to impact demand. In trading update on Wednesday, the company said…
Cold weather in June hits card spending
There was a drop in consumer spending on credit and debit cards last month, for the first time in more than three years. Data from Barclays shows that card spending…
Carlsberg agrees Britvic acquisition
Danish brewer Carlsberg has agreed a deal to acquire UK-based soft drinks maker Britvic. It comes after Britvic's board of directors rejected a previous offer from Carlsberg last month. Under…
New car sales pass 1 million at half year
Sales of new cars in the UK have exceeded one million for the first six months of the year, for the first time since before the pandemic. From January to…
Fuel prices down but ‘still too expensive’
Average pump prices for petrol and diesel fell in June but are still higher than they should be, according to the RAC. The motoring organisation found that at the end…
Shop price inflation continues to fall
Discounts on big-screen TVs ahead of Euro 2024 helped to slow price rises in UK shops in June, new figures show. Shop prices increased by just 0.2% in the year…
Strike at Port Talbot steelworks called off
A planned strike at the Port Talbot steelworks in Wales has been suspended after progress was made in talks between Indian owner Tata and unions. Trade union Unite said on…
Q1 growth revised higher
Revised figures show that the UK's exit from recession was stronger than first estimated. Gross domestic product (GDP) grew by 0.7% between January and March, up from the previous estimate…
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