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Microsoft loses title of world‘s most valuable listed company

Microsoft loses title of world‘s most valuable listed company

The change happened on Monday as shares in the online retail giant rose 3%, lifting its market value to $797bn (£624bn). Microsoft also rose, but by less than 1%, leaving its value at $784bn (£614bn). It is the first time that Amazon – founded by Jeff Bezos in 1994 – has held the top spot and ends Microsoft‘s brief return […]

BP backs Gulf of Mexico with billion dollar investments

BP backs Gulf of Mexico with billion dollar investments

On 20 April 2010, the Deepwater Horizon oil platform being operated in the Macondo prospect by Transocean, on behalf of the oil major, exploded, killing 11 workers. The spill took almost three months to plug, but not before more than 200 million gallons of oil had leaked into the sea, making it the worst oil spill in American history. Meeting […]

Digital lender Monzo banks on Hoffman as chair

Digital lender Monzo banks on Hoffman as chair

Sky News has learnt that Monzo will name Gary Hoffman as its non-executive chairman on Wednesday, just months after a fundraising that valued the fledgling company at more than £1bn. The appointment of Mr Hoffman will bring one of Britain‘s most experienced bankers into the fold at one of the industry‘s newest entrants. Loss-making Monzo was founded just under four […]

Britons ditched whole turkeys to avoid endless leftovers over Christmas

Britons ditched whole turkeys to avoid endless leftovers over Christmas

Sales of the birds in the 12 weeks to 30 December fell 7%, according to Kantar Worldpanel, which also revealed growth for non-alcoholic beer and Christmas puddings. Across the grocery sector, spending rose by £450m to £29.3bn, though the 1.6% increase was the lowest rise since March 2017 – a slowdown partly blamed on lower inflation. Discounters and Lidl were […]

Sharp slowdown in sales growth at Morrisons as shoppers change habits

Sharp slowdown in sales growth at Morrisons as shoppers change habits

Britain‘s fourth-biggest supermarket group said like-for-like retail sales rose 0.6% in the nine weeks to 6 January compared with the same period last year amid a “change in consumer behaviour”. That compared to growth of 1.3% in the preceding quarter and 2.1% over the Christmas period to January 2018, though it was better than some analysts expected. Shares ended the […]

Retail giant Sears considers takeover bid after liquidation threat

Retail giant Sears considers takeover bid after liquidation threat

The 126-year-old company, which also owns the Kmart discount store brand, was initially preparing to enter into liquidation on Tuesday after failing to reach an agreement over a $4.4bn (£3.5bn) bid. But at a New York bankruptcy court, Sears‘ lawyers told a judge that the company was prepared to consider a revised offer from Sears‘ chairman Eddie Lampert‘s ESL hedge […]

Ex-Nissan boss led into court on rope as he claims he is innocent

Ex-Nissan boss led into court on rope as he claims he is innocent

The former titan of the global industry, who was led into the hearing in handcuffs and with a rope around his waist, firmly declared his innocence over the charges. In a point-by-point rebuttal of the allegations, Ghosn told the court that he had could have left Nissan at one stage but that his “moral commitment” to the company would not […]