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All-share proposal had potential to be one of biggest deals in sector for decade but deemed ‘opportunistic’Business live – latest updatesThe board of Anglo American, the London-listed mining company, has rejected a £31bn takeover approach from the Australian rival BHP.BHP’s all-share proposed offer for Anglo American had the potential to be one of the biggest deals in the global mining sector for a decade...

Exclusive: Action by organisation supporting migrants argues new rules are discriminatoryAn organisation that supports migrant workers has launched a legal challenge against the government’s new policy to bar care workers from bringing children and partners to the UK, warning that it is “tearing families apart”.According to Migrants at Work, care workers have to choose between family life with their children and partners or getting...

Pre-tax profits drop to £2.3bn between January and March, down from £2.6bn last year• Business live – latest updatesProfits at Barclays tumbled by 12% in the first quarter, as higher UK interest rates weighed on demand for mortgages and loans while a backdrop of economic uncertainty affected its investment bank.The UK bank said pre-tax profits fell to £2.3bn in the first quarter, down from...

UK’s blue-chip index reaches 8,076, surpassing previous high of 8,047 in February 2023Business live – latest updatesThe UK stock market hit a record high on Tuesday, as shares were lifted by hopes of interest rate cuts and an easing of geopolitical tensions.The FTSE 100 index of blue-chip stocks listed in London hit 8,076 points on Tuesday, surpassing a previous high of 8,047 in February...

Shoppers spend more on promotions as Easter lifts sales of chocolate eggs and hot-cross bunsBusiness live – latest updatesGrocery price inflation in Great Britain has slowed to 3.2%, the lowest since November 2021, as the cost of toilet rolls, butter and milk fell and people spent more on store promotions.The decline in the four weeks to 14 April marked the 14th monthly drop in...

Government borrowed £120.7bn in the last financial year, with just under £12bn in MarchBusiness live – latest updatesJeremy Hunt’s scope for a substantial pre-election tax giveaway has been hit after the latest set of official figures showed the UK’s public finances in worse shape than thought at last month’s budget.Figures from the Office for National Statistics (ONS) showed the government borrowed £120.7bn in the...

International Energy Agency says 17m vehicles will be sold this year, up more than 20% compared with 2023Electric and plug-in hybrid car sales will jump to a new global record in 2024 despite slowing growth in some markets, according to forecasts from the influential International Energy Agency (IEA).The Paris-based forecaster said that 17m battery electric vehicles and plug-in hybrid electric vehicles will be sold...

Embattled water supplier promises to invest up to £3bn more over the next five yearsBusiness live – latest updatesThames Water could raise bills to as much as £627 a year to pay to fix its leaky network, after promising to invest up to £3bn more over the next five years.The embattled water supplier said on Monday that it had updated its spending plans for...

Independent shopkeepers say prices they pay at supermarket’s cash-and-carry arm Booker are often higher than in Tesco storesVillage shopkeepers say Tesco is consistently undercutting them by selling products for less in its stores than via its wholesale business Booker, stoking concerns about the power of the UK’s biggest supermarket chain.Tesco, which has 27% of the UK grocery market, bought the cash-and-carry group in 2017...

High court action will claim US owner allowed access to app users’ private information in breach of UK lawGrindr faces the prospect of legal action by hundreds of users who will allege that the dating app shared highly sensitive personal information, including in some cases their HIV status, with advertising companies.The law firm Austen Hays is to file a claim on Monday in London’s...

Shoppers cut back in March, with data likely to increase pressure on Bank of England over interest ratesBusiness live – latest updatesRetail sales in Great Britain unexpectedly stalled in March as consumers cut back on spending because of the cost of living, according to new data.British retail sales volumes stagnated at 0% in March after an increase of 0.1% in February, according to the...

Company, which also makes Quality Street, says reducing sugar, salt and fats could harm ‘strategic freedom’Business live – latest updatesNestlé faces a resolution at its AGM on Thursday that could force the world’s largest consumer goods company to cut back on high levels of salt, sugar and fats in its food and drinks.The Swiss-headquartered multinational is urging investors to reject the proposal, arguing a...

Shares in Beyoncé and Neil Young song fund rise amid hopes uncertainty over its future could be overBusiness live – latest updatesThe embattled British music royalties investment fund Hipgnosis, which owns the rights to songs by artists from Beyoncé to Neil Young, has agreed to a $1.4bn (£1.1bn) takeover by a music and theatrical rights rival after months of turmoil over the company’s structure...

Demand for private treatment booms as NHS waiting lists remain long, while more people also sign up for dental cover Britain’s health cover market has grown by £385m in a year as the NHS crisis prompted more people to seek out private medical treatment and demand for dental insurance increased, according to a report.The total health cover market, including medical and dental insurance and...

Predictions for when Bank of England will start lowering cost of borrowing pushed back Business live – latest updatesThe UK’s annual inflation rate fell by less than expected in March to 3.2%, complicating the timing of a first Bank of England interest rate cut.Figures from the Office for National Statistics (ONS) show inflation continued to fall from 3.4% in February to reach the lowest...

Time taken for Farhad Moshiri to attract new investors may have made a viable solution harder to find Everton fans are used to owner Farhad Moshiri telling them that better times will be arriving soon. He began his reign at the club in 2016 promising to give fans “whatever I have” – the type of soundbite he would continue to deliver during the following...

Julian Dunkerton decided against takeover offer and company will delist from London Stock ExchangeBusiness live – latest updatesSuperdry is to embark on a restructuring plan including rent reductions in stores and a fundraising, backed by its boss and co-founder Julian Dunkerton, and will quit the London Stock Exchange.Trading in the shares was halted on Tuesday morning after they fell 25% to just over 5p,...

International Paper settles all-share deal after tussle with British rival MondiBusiness live – latest updatesThe FTSE 100 UK packaging firm DS Smith is to be taken over by a bigger US rival, International Paper, after the companies agreed a £5.8bn all-share deal.Tennessee-based International Paper, one of the largest paper and pulp companies in the world, moved in late March to gatecrash a £5.14bn all-share...

Pay growth is stronger than expected, underlining dilemma over when to cut interest ratesBusiness live – latest updatesThe number of people out of work rose by more than expected in February, raising concerns that employers are beginning to lay off staff in response to high interest rates.The Office for National Statistics said the unemployment rate increased to 4.2% in February from 3.9%, well above...

February growth of 0.1% comes despite construction and retail being hit by wet start to yearBusiness live – latest updatesBritain’s economy has taken a step closer to exiting recession as official figures showed growth continued in February despite a washout month for construction and retail after one of the wettest starts to a year on record.The Office for National Statistics (ONS) said gross domestic...

Mobile units will be deployed on high streets to identify wanted people – including repeat offendersThe government is investing more than £55m in expanding facial recognition systems – including vans that will scan crowded high streets – as part of a renewed crackdown on shoplifting.The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being...

Controversial investment bank could play important role in fate of Britain’s biggest water firmBusiness live – latest updatesThe Australian investment bank Macquarie, which has been criticised for its role in the privatisation of England’s water industry, is understood be among lenders to Thames Water’s troubled parent company.The former Thames Water shareholder could, along with other lenders, play an important role in determining the fate...

Chain says it has experienced operational disruption after hackers gained access to its IT systemsOne of the UK’s largest vet groups has told regulators about a possible breach of personal information after it was hit by a cyber-attack.CVS Group said hackers had gained unauthorised external access to a limited number of its IT systems. The company continued to have problems with slow-running systems on...

Risk of declining consumption, house price falls and defaults as tighter policy finally has impactBusiness live – latest updatesThe high proportion of UK homeowners on fixed-rate mortgages means the Bank of England should be wary of keeping interest rates too high for too long, the International Monetary Fund has warned.The IMF said many borrowers had been sheltered until now from the impact of higher...