Business news from the City desk of the London Evening Standard

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Next targets more takeovers as it defies economic turmoil

By Simon English

Sparkling wine sales fizz for Chapel Down amid price rises

The Kent-based business said sales of traditional-method sparkling wine surged by more than 50% over 2022.

Next sees price hikes easing over the year ahead

By Holly Williams

Bupa Dental Care to cut 85 practices in a move affecting 1,200 staff

Unsafe electricals flooding UK market, charity warns

Four in 10 households with children ‘have skipped meals in recent months’

Big broadband firms ‘mediocre at best’ ahead of inflation-busting price rises

Work-related stress costs UK economy £28bn a year, research shows

Smelling the opportunities for coffee in Silicon Roundabout

Coffee once made him sick - but now Grind founder David Abrahamovitch sells more than a million cups of coffee each year

By Lucy Tobin

Junior doctors urged to back strike action in battle for higher pay

By Dan Barker

Forecourt price disparity between petrol and diesel is shocking, says RAC

Safety warning as lighthouse workers balloted on strike action

By Lucinda Cameron

Next to buy Cath Kidston out of administration – but jobs will be cut

Some of Cath Kidston’s 125 staff will be made redundant because of the closures

FTSE positive as commodities gain and banking firms steady

London’s top index moved 0.17%, or 12.48 points, higher to finish at 7,484.25.

The answer to London’s listing woes? Founders always follow the money

City Voices: A grand genture is needed from the Chancellor in the Autumn Statement

By James Ashton

William Hill to pay record £19m penalty for safer gambling failings

The Gambling Commission said it considered suspending the bookmaker’s licence, but decided against it

Asda set to appease competition concerns over £600m takeover of petrol stations

The Competition and Markets Authority said it ‘might’ accept Asda’s proposals to offload 13 sites.

By Holly Williams

Gambling White Paper ‘desperately’ needed, says former Tory leader

Sir Iain Duncan Smith, the vice-chair of a parliamentary body on gambling reform, said he believed the Government was listening.

By Dominic McGrath

Strong demand for Christmas beauty products drives Boots sales higher

The pharmacy and retail business revealed that overall sales rose by around 11% in the UK over the three months to February 28.

New female boss for Guinness giant Diageo

By Simon English

Debbie Bestwick net worth | Evening Standard Tech Rich List

By Daniel O'Boyle Simon Hunt

ES MoneyMore

Cryptocurrency

Ethereum’s price down 1.56% on yesterday

By Kevin Pratt

Cryptocurrency

Bitcoin’s price down 3.06% on yesterday

By Mark Hooson

Cryptocurrency

How to buy cryptocurrency

By Andrew Michael

Broadband

Best broadband deals for London 2023

By Candiece Cyrus

Environment

Five ways to make your business more environmentally friendly

By Jonty Sutton

Investing

Top 5 artificial intelligence (AI) cryptocurrencies

By Mark Hooson

More Business news

Surge in supermarket food prices fuels big squeeze

Record rise in cost of shopping sends annual bill for food and drink staples up £837

By Jonathan Prynn

William Hill failings ‘widespread and alarming’ – regulator

One customer was allowed to open a new account and spend £23,000 in 20 minutes without any checks.

Ocado sees shoppers continue cutting back as food inflation yet to peak

The group’s retail arm – run as a joint venture with Marks & Spencer – delivered a 3.4% rise in revenues to £583.7 million in its first quarter.

By Holly Williams

Bank of England chief: HSBC was only reasonable bidder for SVB UK

Water firms urged to be more ‘creative’ in how they charge customers

Bellway sees signs of recovery as buyers adjust to new mortgage rates

Diageo’s Ivan Menezes to step down as chief executive

Shoppers turn to multiple supermarkets as grocery inflation reaches record high

Binance CEO Changpeng Zhao sued over alleged trading rules breach

By Simon Hunt

Around 500 children had at least £100,000 in Junior Isa savings by 2021

Around 40 children had Junior Isa pots worth £200,000 or more, according to HM Revenue and Customs figures obtained by St James’s Place.

Opportunity for prosperous offshore energy sector ‘hangs in balance’ – report

Offshore Energies UK has published its Business Outlook report.

By Lucinda Cameron

Missed payments at alarmingly high levels, says Which?

Many households are struggling to get their finances back on track after the post-festive crunch, according to the consumer group.

Increasing cost of sugar drives shop prices to record in March

Shop prices are now 8.9% higher than they were a year ago, according to the BRC-NielsenIQ Shop Price Index.

‘Stop moaning’ and show ambition on green energy, Miliband to tell Government

The shadow climate secretary will use a speech on Tuesday to stress Labour’s ambition on green investment.

By Dominic McGrath

Flights cancelled during Easter getaway as airport security guards strike

Members of the Unite union at Heathrow will walk out for 10 days on Friday after talks to avert the action failed last week.

By Pa Reporter

Spike in economic inactivity was unexpected after the pandemic – Bailey

The Bank of England governor said experts had tipped a jump in unemployment as furlough ended in September 2021.

By August Graham

Civil servants to strike throughout April in build-up to huge walkout

The PCS said the major walkout will take place on April 28 in an escalation of the long-running dispute over pay, jobs, pensions and conditions.

By Alan Jones

London closes higher as global markets calm after banking woes

The FTSE 100 moved 0.9%, or 66.32 points, higher to finish at 7,471.77.

Barclays announces 14 more branch closures, bringing total to 58 this year

Banks have been closing branches for years as more and more people choose to do their banking online, reducing the need for physical banks.

By August Graham

Steel firm Aartee Bright Bar bought in rescue deal but Dudley site to close

Barrett is set to acquire assets of the collapsed firm by not its hot rolled business in Dudley, resulting in 45 job losses.

Matalan looks to supermarket sector with CEO and chair appointments

Former Lidl CEO Karl-Heinz Holland has been appointed chairman, while former Co-op Food boss Jo Whitfield will be CEO

Business rates revaluation could hit small firms in some London areas

By Joanna Hodgson

Podcast: What’s the next big thing? Rob Kniaz reveals all

By David Marsland Rachelle Abbott

A brighter day — but we’re still close to the edge of panic

City Comment: We’re never more than a day away from a fresh bout of panic

By Jonathan Prynn

Tortilla swings to loss after ‘unprecedented’ food and energy inflation

But the Mexican food chain insisted sales were doing well as more people opt for value-for-money meals over dining out.

Family run US bank rescues tech lender Silicon Valley Bank

By Simon English

More than 94,000 prepayment meters forcibly installed in homes last year

Energy Security Secretary Grant Shapps said the figures give a ‘clear and horrifying’ picture of the extent of the issue.

Government ‘moving too slowly’ to meet economic targets and climate goals

The National Infrastructure Commission warned that the Government is ‘off track to meet its targets and ambitions’ in a ‘range of areas’.

By Alana Calvert

Peers to vote on law that could see people forced on to hydrogen boilers

The Energy Bill proposes extending the same powers of entry to gas networks that allowed the forced instalment of prepayment meters.

By Danny Halpin

Almost half of households ‘concerned over meeting rent or mortgage bills’

Airports set for bumper business rates amid £1.4bn tax rise

Businesses ‘face £300m-per-year bill under new Government proposals’

By August Graham

Dates for new cost-of-living payment coming this spring announced by Government

The payment will be the first of three totalling up to £900 for means-tested benefits claimants, as part of the Government’s cost-of-living support.

Ovo launches energy deal below Government price cap

The company is offering a deal to existing customers that is cheaper than the Energy Price Guarantee.

By Lucas Cumiskey

‘Tragedy’ if John Lewis ownership model changes , says ex boss

Reports last week suggested the company is considering ending its 100% staff-owned structure

By Ted Hennessey

‘Economy 4% lower than if UK had remained in European Union’

OBR chairman Richard Hughes said the effect of Brexit on the economy is on the ‘magnitude’ of the coronavirus pandemic and rising energy prices.

By Ted Hennessey

Next to unveil higher sales and profits despite consumer spending pressure

Next will reveal on Wednesday how it performed over the year to January.

MP calls for law change to help John Lewis remain employee-owned

Labour former minister Gareth Thomas said his reforms would act as ‘rocket fuel’ for staff-owned businesses like retail giant John Lewis.

By David Lynch

Deal sees Post Office workers offered 9% pay rise and up to £3,000 lump sums

The deal, endorsed by the Communication Workers Union’s postal executive, will be put to a ballot of members.

By Alan Jones

Mary Portas warns John Lewis has ‘let go of its soul’

The company is considering ending its employee-owned business structure in order to attract investment.

By Lauren Shirreff