Business news

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JLR at risk of battery supply delays after Somerset factory turmoil

Jaguar Land Rover (JLR) faces potential delays in electric car battery supply from a £5.2 billion factory in Somerset after Agratas sacked its main contractor due to budget issues. Agratas's new contractor, Tonroe Group Ltd, must quickly adapt to the project's demanding requirements amid rising costs and internal turmoil, jeopardizing JLR's electric vehicle production schedule.

The Guardian Australia – Business · 1 hour ago

London nightlife suffers under strict licensing rules, Mayor Khan responds

London's strict licensing rules are stifling its nightlife, with the earliest council-mandated closing time set at 11pm on weeknights. In contrast, cities like Birmingham and Manchester enjoy booming after-hours scenes with more relaxed regulations. Mayor Sadiq Khan recently addressed concerns as a residents' group opposes new late-night venues.

The Guardian Australia – Business · 3 hours ago

European Commission revises water law to boost critical minerals mining

The European Commission plans to revise its water protection law to expedite critical minerals mining in drought-affected regions, despite concerns from environmentalists. Over half of the 33 designated strategic projects are in water-stressed areas, including six in drought-stricken Spain. This move aims to increase the EU's mineral supply amid rising global demand.

The Guardian Australia – Business · 4 hours ago

Beetlejuice the Musical's Australian run ends early

Beetlejuice the Musical will end its Australian tour early, cancelling performances in Sydney, Perth, and Adelaide. The last show will take place at QPAC in Brisbane on July 5, with producers citing rising costs and logistical challenges as reasons for the decision.

ABC News – Business · 4 hours ago

Heathrow third runway GDP yield may be 90% less than original estimate

Heathrow Airport's proposed third runway may boost GDP by only 0.05%, a staggering 90% less than earlier estimates, according to the Department for Transport. The negative economic impact could reach £62.5 billion, prompting skepticism about the expansion's viability. Critics argue the findings undermine government claims of economic benefits from the project.

The Guardian Australia – Business · 18 hours ago

Kidney cancer rates near Lancashire PFAS factory raise significant health concerns

Kidney cancer rates near a PFAS factory in Lancashire have raised concerns, according to experts reviewing a government study. The study noted higher-than-expected kidney cancer cases in two areas close to the AGC Chemicals Europe plant, which emitted PFOA from the 1950s to 2012. Critics argue the findings require further investigation despite the report suggesting no significant cancer cluster exists.

The Guardian Australia – Business · 19 hours ago

Datacenters driving US clean energy growth while still threatening climate

Datacenters are driving unprecedented growth in the U.S. clean energy sector, particularly amid rising demand from artificial intelligence. However, their energy consumption is prompting new fossil fuel plant construction, complicating transitions to renewable sources. Experts highlight this paradox, noting the booming clean energy market has benefited some firms like Nextpower and Google, yet many other segments remain unhelped.

The Guardian Australia – Business · 23 hours ago

Hot weather behind rise in UK retail sales in May

Retail sales in Great Britain rose 1.2% in May, driven by demand for fans and paddling pools amid record hot weather. The Office for National Statistics reported this as the strongest growth since January, reversing a 1% decline in April. Analysts caution that consumer confidence remains low despite the rebound in sales.

The Guardian Australia – Business · 1 day ago

Shipping in Strait of Hormuz remains halted until 80 mines cleared

Normal shipping in the Strait of Hormuz won't resume until 80 mines are cleared, according to the independent tanker owner trade body. The closure of the strait poses significant risks, with over 20,000 seafarers stranded and increased chances of collisions. The shipping industry foresees no return to normalcy this year amid ongoing challenges and navigation risks.

The Guardian Australia – Business · 1 day ago

UK government borrows £23.3 billion in May, highest since 2020

The UK government borrowed £23.3 billion in May 2023, exceeding forecasts by £5.6 billion according to the Office for Budget Responsibility. This marks the highest borrowing for May since 2020 and pushes national debt to 95.1% of GDP. Increased spending on public services and benefits outweighed growth in tax receipts during the month.

The Guardian Australia – Business · 1 day ago

UK borrows more than expected as impact of Iran war takes toll

The UK borrowed £23.3bn in May, exceeding forecasts amid economic fallout from the Iran war. This figure highlights challenges for Labour leadership contender Andy Burnham, who recently won the Makerfield byelection. Borrowing for the first two months of the fiscal year reached £46.3bn, considerably higher than expectations set by the Office for Budget Responsibility.

The Guardian Australia – Business · 1 day ago

MPs urge Fujitsu to make ‘immediate’ payment to Post Office Horizon victims

UK MPs have urged Fujitsu to make an immediate payment to victims of the Post Office Horizon scandal. Liam Byrne, chair of the Commons business committee, highlighted that many operators are still awaiting justice, calling the situation unacceptable. Fujitsu has yet to contribute to the £1.5 billion compensation fund despite acknowledging flaws in its software since the 1990s.

The Guardian Australia – Business · 1 day ago

Waterloo demolition to commence after activist camp cleared out

Police cleared a protest camp at Waterloo public housing estate on June 19, 2026, arresting one activist for trespassing. The demolition of 150 homes will soon begin, as part of a project to replace them with 3,300 new units, including private, social, and affordable housing. Activists argue the existing homes should be refurbished instead.

ABC News – Business · 1 day ago

Burnham brings in top economists before possible leadership run

Andy Burnham appointed top economists as advisors ahead of his potential leadership bid in Labour and the Makerfield byelection. The team includes former Bank of England chief economist Andy Haldane and former Treasury minister Jim O’Neill. Burnham aims to enhance his economic credibility and encourage calm in the markets ahead of Friday's.

The Guardian Australia – Business · 1 day ago

The 'mental toughness' that created an Aussie World Cup 'superstar'

Socceroo goalkeeper Patrick Beach, at just 22, made a stunning World Cup debut against Türkiye last weekend, securing a 2-0 victory for Australia in Vancouver. He blocked eight goal attempts, showcasing exceptional skill with a fingertip save. Beach, formerly of Glenmore Park Football Club, exemplifies resilience and dedication, earning praise from teammates and coaches alike.

ABC News – Business · 1 day ago

Intertek acquired by EQT-led consortium for £10 billion in takeover

Intertek was acquired by a private equity consortium led by EQT for approximately £10 billion. This marks the third FTSE 100 firm taken over this year, raising concerns about the lack of new listings in London’s market. Meanwhile, UK firm Doncasters is opting for a US listing to pursue a higher valuation.

The Guardian Australia – Business · 1 day ago

City & Guilds scraps mass redundancies and offshoring UK jobs to Greece

City & Guilds has canceled plans to cut 400 UK jobs and offshore positions to Greece following negotiations with the union Unite. The agreement included a financial settlement for redundant workers and measures to support affected colleagues. The decision comes amid ongoing scrutiny of executives' bonus payments after last year's acquisition by PeopleCert.

The Guardian Australia – Business · 1 day ago

Heathrow runway construction threatens health of 3 million residents, report warns

Construction of a third runway at Heathrow is projected to adversely impact the health of up to 3 million nearby residents, an official report revealed. The study indicated that expansion could deteriorate noise and air quality, as well as access to essential services. Transport Secretary Heidi Alexander called the consultation a positive move towards addressing community concerns.

The Guardian Australia – Business · 1 day ago

Lisa Cook incurs $1.3 million in legal fees amid dismissal battle

Federal Reserve governor Lisa Cook incurred $1.3 million in legal and security fees after Donald Trump's attempt to fire her. The legal battle centers on whether her dismissal was lawful, with the Supreme Court set to decide on the case before June's end. Cook’s appointment marked a historic moment as the first Black woman.

The Guardian Australia – Business · 1 day ago

‘Mega-consumers’ of food and energy cost environment $5.7tn a year, study finds

A study found that the top 10% of consumers are responsible for $5.7 trillion in annual environmental damage, surpassing the economies of all countries except the US and China. This group, primarily in the global north, drives significant climate and biodiversity costs, underscoring the need for targeted policies such as taxes on luxury goods and carbon emissions.

The Guardian Australia – Business · 1 day ago

Australia's net overseas migration declines to 301,000 amid housing pressures

Australia's net overseas migration fell to 301,000 in the past year, the lowest since mid-2022, but still exceeds pre-pandemic levels. Shadow Immigration Minister Jonno Duniam criticized the figure as too high amid housing and infrastructure pressures. The decline follows significant increases during the pandemic recovery, with some states experiencing notable growth.

The Guardian Australia – Business · 1 day ago

Majority of Great Britain's rail operators are now publicly owned

Most of Great Britain’s major rail operators are now publicly owned, with eleven nationalised as of May 31, 2026. The Labour government aims to complete the takeover of all operators by 2027, but experts warn that nationalisation alone might not solve financial challenges facing the rail system. The upcoming Great British Railways is expected to unify management of rail services.

The Guardian Australia – Business · 1 day ago

Bank of England holds interest rates at 3.75% amid Iran conflict

The Bank of England maintained interest rates at 3.75% amid concerns over the Iran conflict's impact on the UK economy. Higher energy costs due to the closure of the Strait of Hormuz are expected to drive inflation and hinder growth. The decision reflects a cautious stance compared to the European Central Bank's recent.

The Guardian Australia – Business · 1 day ago

Nigel Farage opposes Bank of England's 'Britcoin' plan, threatens prison

Nigel Farage has opposed Bank of England's 'Britcoin' plan during a private meeting with Governor Andrew Bailey, expressing concern it could harm billionaire donor Christopher Harborne. Farage threatened to go to prison to prevent the digital currency's implementation, stating he fears a reliance on digital ID systems. Harborne's donations account for about two-thirds of Reform UK’s funding.

The Guardian Australia – Business · 1 day ago

FCA closes investigation into Drax over biomass sourcing

The Financial Conduct Authority closed its investigation into Drax on Thursday, finding no evidence of misleading statements regarding biomass sourcing. Shares of Drax rose 1.2% following the decision, which followed an almost 10-month review. The FCA determined that Drax's annual reports did not contain misleading information that would justify further action.

The Guardian Australia – Business · 2 days ago