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From oil giants to banks: The companies making billions from the Iran war
US giants ExxonMobil and Chevron saw their earnings fall compared with the same period last year, due to supply disruption from the Middle East, but both beat analysts’ forecasts and expect their profits to grow further as the year goes on, with the price of oil still significantly higher than when the war broke out.
Energy investment of £28bn approved by regulator Ofgem
Energy regulator Ofgem has approved £28bn in investment to improve the UK’s energy network. Most of the funding in the five-year plan will go towards maintaining gas networks, but £10.3bn will be used to strengthen the electricity transmission network. Households will see an additional £108 added to energy bills by 2031 under the plan. But…
Netflix reportedly closes in on Warner Bros deal
Netflix is closing in on a deal to buy the film and streaming businesses of Warner Bros Discovery, according to multiple reports. The streaming giant has emerged as the top bidder for Warner Bros ahead of rivals Comcast and Paramount Skydance after offering $28 (£21) per share, according to several outlets including Reuters and the…
Energy price cap to change as winter beds in
Kevin PeacheyCost of living correspondent Getty Images Regulator Ofgem will announce the next energy price cap later on Friday, with prices for millions of households expected to fall slightly at the height of winter. Gas and electricity bills remain relatively high, and the sudden drop in temperature has brought the costs to the forefront of…
M&S boss calls for more action on crime and abuse of staff
Keeve said: “In the past week alone we have had gangs forcing open locked cabinets and stripping shelves, two men brazenly emptying the shelves of steak and walking out, a large group of young people ransacking a store before assaulting a security guard, a colleague headbutted trying to defuse a situation and another hospitalised after…
