The Guardian says Ministers have cancelled a contract with P&O Ferries after it sacked nearly 800 seafarers without notice in March.
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We will bring you the latest Business News from the UK and around the world. Including information pertinent to Small and Medium-sized Businesses (SME) and legal information concerning business and tax law.
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The Daily Mirror says Barclays is closing another 27 bank branches, and will have closed 103 by the end of the year.
The Guardian says the average price of a UK home has topped £250,000 for the first time, but the proportion of sellers reducing their asking price and the time taken to sell a home have both increased, according to Zoopla’s latest market index.
The Guardian says Rishi Sunak will push the button on a controversial windfall tax on energy companies on Thursday, as he lays out measures to ease the pain of rising household bills.
The Independent says Average asking prices for UK properties have jumped £55,000 since the start of the pandemic, with no slowdown in the “frenetic” market despite the cost of living crisis, new figures show.
A handful of millionaires attendees gathered in Davos are calling on world leaders to push tax up higher for wealthy people (like themselves) to tackle the cost of living crisis.
The Guardian says Boris Johnson hopes to blunt calls for urgent action on the cost of living crisis by stressing that work is the best route out of poverty, as an energy firm boss warned that 40% of households could soon be in fuel poverty.
The Guardian says consumer confidence in the UK has fallen to the lowest level since records began in 1974 amid growing concern over the cost of living crisis.
The Independent says the director of a multi-million dollar ad campaign for a bitcoin exchange has said he has “no idea how cryptocurrency works” after being questioned about the recent market crash.
BBC Sport says ministers are facing growing calls to bring forward large increases in benefits and the state pension which will be paid from next April.
The Guardian says UK inflation soared to 9% in April – its highest level for more than 40 years – as the rising cost of gas and electricity pushed household energy bills to record levels.
The Guardian says the Bank of England governor has warned that “apocalyptic” food prices caused by Russia’s invasion could have a disastrous impact on the world’s poor.
The Guardian says Elon Musk has suggested that he could seek to pay a lower price for Twitter, as the social media company’s would-be owner expressed further concerns about the presence of fake accounts on the platform.
BBC News says some of the poorest households in England and Wales are struggling to access council tax rebates to help offset their soaring energy bills, a charity has warned.
Fast food giant McDonald’s has announced it will permanently leave Russia after more than 30 years and has already started selling its restaurants there.
Daily Mirror says Holidaymakers who had booked a P&O Cruises holiday to the Canary Islands were left disappointed when the firm isolated them for hours without enough food, heat or seating
Elon Musk has said his billion dollar deal to but Twitter is currently on hold after he queried the number of fake or spam accounts on the platform.
The Guardian says shockwaves swept through cryptocurrency markets on Thursday as tether, the largest “stablecoin” and a foundational part of the digital asset ecosystem, broke its peg to the dollar in the latest blow to the struggling sector.
The Independent says the price of the Terra (LUNA) cryptocurrency has fallen by more than 99 per cent, wiping out the fortunes of crypto investors.
The Independent says the UK economy shrank in March, as soaring living costs and the war in Ukraine hindered recovery from the pandemic.
BBC Business says Apple has lost its position as the world’s most valuable company amid a broad sell-off of technology stocks.
The Guardian says more than 250,000 households will “slide into destitution” next year, taking the total number in extreme poverty to around 1.2m, unless the government acts now.
The Guardian says Channel 4 is to make available 1,000 hours of hit shows on YouTube in the widest-ranging commercial deal the Silicon Valley giant has struck with a UK broadcaster.
The Guardian says Elon Musk has said he will reverse Twitter’s ban on the former US president Donald Trump if the Tesla boss completes a takeover of the social media platform.
Sky News says the soaring cost of living has seen consumers “put the brakes” on their shopping habits, new figures show.
