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New £150m funding package to protect jobs at Grangemouth
David HendersonScotland news correspondent PA Media The UK government and Ineos are to invest a combined £150m in the plant The UK government is to invest £120m in a support package for the Grangemouth industrial complex. Owners Ineos will contribute £30m to the joint investment deal. The site, the UK’s last ethylene plant, employs about…
Octopus Energy to spin off $8.65bn tech arm Kraken
Archie MitchellBusiness reporter Getty Images Octopus Energy is set to spin off its Kraken Technologies arm as a standalone company after a deal to sell a stake in the platform valued it at $8.65bn (£6.4bn). The energy giant, Britain’s biggest gas and electricity supplier, has sold a $1bn stake in the AI-based division to a…
Rachel Reeves plans ‘targeted action’ on bills in Budget
Faisal IslamEconomics editor Watch: Government will be taking targeted action on cost of living, says Reeves Chancellor Rachel Reeves has said she is planning “targeted action to deal with cost of living challenges” in next month’s Budget. Speaking to the BBC, she said it was the job of both the government and the Bank of…
Why Croatias capital wants to hold the best Christmas market
Guy Delauney Balkans correspondent AFP via Getty Images Zagreb’s Christmas market was voted the best in Europe three years in a row Christmas markets are not just tradition across Europe, they are big businesses that give cities a huge economic boost every December. For Zagreb, the capital of Croatia, it is an effective way of…
HMRC phone lines stay open as self-assessment tax deadline looms
“Making Tax Digital is the biggest tax change since self assessment and, with just over two months to go, time is running out to get ready,” said Victoria Todd, of the Low Incomes Tax Reform Group, which has produced a guide for those unsure of the changes.
M&S profits almost wiped out after cyber hack left shelves empty
M&S’s profits were almost wiped out after it was hit by a cyber-attack which left shoppers unable to buy online from the company for months. The hack was “an extraordinary moment in time,” it said, as it revealed statutory profit before tax – a figure that reflects all costs for a period – slumped 99%…
