Business

Admiral to sell Confused.com to Uswitch owner for £500m

ZPG will acquire all of Admiral’s comparison website business with shareholders to receive majority of funds The insurance group Admiral has agreed to sell its comparison website business, which includes Confused.com, to the owner of its rival Uswitch in a deal worth just over £500m. Admiral has agreed to sell the Penguin Portals arm, which […]

Business

Four-day week would be affordable for most UK firms, says thinktank

Autonomy study says with proper planning companies can prosper if staff work fewer hours for same pay A carefully designed four-day week could be introduced in the UK immediately and be affordable for most firms with more than 50 workers, a thinktank has said. A report by Autonomy – which is campaigning for a shorter […]

Business

UK tech firms attract record $15bn in venture capital funding

UK technology companies attracted a record $15bn (£11.2bn) in venture capital funding in 2020, including the creation of seven “unicorn” firms valued at more than $1bn. The firms raised more money from VC investors than the rest of Europe combined, according to research by the data provider Dealroom. The $15bn total compares with the previous […]

Business

Islington records UK’s highest house price growth of 2020 at 13.4%

London boroughs take nine of top 20 places, with Leeds and Wolverhampton second and third Islington in north London has shown the fastest house price growth over 2020, with the average property rising 13.4% to £727,922, according to the estate agent Halifax. At the other end of the table, the price of an average home […]

Business

Storm Bella helps Great Britain set new record for wind power generation

More than half of Great Britain’s daily electricity came from wind turbines for the first time on Boxing Day, as the country headed for its “greenest year on record”, due in part to the coronavirus. As Storm Bella arrived, bringing gusts of up to 100mph, wind provided 50.7% of Great Britain’s electricity according to data […]

Business

Christmas takings in pubs, bars and restaurants fall almost 80%

Takings in pubs, bars and restaurants plunged by almost 80% between Christmas Eve and Boxing Day compared with the same three-day period last year, suggesting the hospitality industry’s dire predictions about their worst Christmas ever have come to pass. Total sales during the period slumped by 79.4% compared with last year, with food sales down […]

Business

UK shares jump as markets react to Brexit deal

In the first day of trading since markets closed on Christmas Eve, the FTSE 100 ended up 1.6% at 6,603 points. It was the Footsie’s best day since 9 November, and only falls in bank shares stopped the index from rising further. US shares hit record highs in early trading although ended slightly lower. Wall […]