Chancellor Rachel Reeves has warned petrol retailers have a “shared responsibility” to keep prices low for motorists amid rising prices and war in the Middle East. The Petrol Retailers Association (PRA) had threatened to walk out of a Downing Street meeting with Ms Reeves and Energy Secretary Ed Miliband just hours earlier, citing “inflammatory language”….
Iran’s targeting of Middle East energy has pushed oil prices above the $100 per barrel level. with market experts expressing concern over the potential for long-term damage to the industry. Brent crude prices rose to $101 overnight after it emerged that major infrastructure on both land and sea in the Gulf countries had been damaged…
British fragrance entrepreneur Jo Malone is facing legal action over the use of her name by cosmetics giant Estée Lauder Companies. Ms Malone established her own eponymous Jo Malone perfume brand before selling the firm in 1999. In 2011, she launched a new fragrance label called Jo Loves. High Court records show an intellectual property…
John Lewis Partnership (JLP) has announced its first annual bonus since 2022 following further progress in its post-pandemic transformation. The employee-owned retailer, which includes not only the department store chain but also Waitrose supermarkets, revealed that its staff, known as partners, will receive an award of 2% of pay for their last financial year until…
The International Energy Agency (IEA), a developed nation body established in the 1970s to deal with the oil crisis like the one we are facing now, has announced something extraordinary. Its members, i.e., most of the world’s rich countries, will release unprecedented amounts of oil from their national stockpiles to the global market in the coming…
According to Forbes, the number of billionaires has reached a record-breaking 3,428, with Elon Musk retaining the title of the world’s richest person. of the magazine’s latest ranking The boss of Tesla and SpaceX, who dominates the tech sector, came out on top with a net worth of $839bn (£623bn), followed in second place. Google…
Iran’s move to close the Strait of Hormuz has brought navigation in the 24-mile stretch of water to a near halt. Only a few ships have transited in recent days, many of them having turned off their tracking systems or joined “shadow fleets.” “They can’t physically close a waterway of that size, but the threat…
