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May 16, 2024
05/24
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here's our business editor, simonjack. for centuries, the area around st paul's has brought together companies that need money to grow and those who have money to invest. it's home to the london stock exchange, where our pensions and savings buy shares in companies so we can share in their future success. but firms are leaving the london market and looking elsewhere, like ali's biotech business, which is looking at higher prices in new york and is bad news for london. it's more than a crisis to me. it's an existential crisis. what i'm saying is i don't see any world where the united kingdom should not be actively engaged and practising artificial intelligence, technology and biotechnology. the amount of companies leaving the exchange in that field in those sectors is extremely alarming. some big companies have either already left, they're about to leave or thinking of leaving. cambridge—based tech giant arm holdings is now listed in new york. paddy power's owner flutter is leaving injune. so is travel company tui. many o
here's our business editor, simonjack. for centuries, the area around st paul's has brought together companies that need money to grow and those who have money to invest. it's home to the london stock exchange, where our pensions and savings buy shares in companies so we can share in their future success. but firms are leaving the london market and looking elsewhere, like ali's biotech business, which is looking at higher prices in new york and is bad news for london. it's more than a crisis to...
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May 15, 2024
05/24
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simonjack, bbc news, in the city. premier league clubs will vote on whether to scrap video assistant referees from next season. the vote will take place at the league's annual general meeting next month. var has been at the centre of a number of controversial incidents this season. how has it come to this? the vote has been triggered _ how has it come to this? the vote has been triggered by _ how has it come to this? the vote has been triggered by a _ how has it come to this? the vote has been triggered by a resolution from one club, wolves. but the objections may resonate with a lot of football fans. we know that var slows the game down as we all wait for the replay is to be analysed. for example, that instinctive joy at celebrating a goal, that can often be lost. and wolves would say that even when a decision is reached, it can lead to more dispute and frustration. wolves will need the backing of another 13 premier league clubs to get var scrapped, they might struggle with that. the premier league itself is definite
simonjack, bbc news, in the city. premier league clubs will vote on whether to scrap video assistant referees from next season. the vote will take place at the league's annual general meeting next month. var has been at the centre of a number of controversial incidents this season. how has it come to this? the vote has been triggered _ how has it come to this? the vote has been triggered by _ how has it come to this? the vote has been triggered by a _ how has it come to this? the vote has been...
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May 31, 2024
05/24
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simonjack there. and chrisjoins me now. end of first full week of campaigning, chris — how's it gone? i think ithink in i think in the last couple of days we have got on the ritualistic gush of announcements, new or otherwise, they are still going on but there have been events and stuff happening, not least the noise in the labour party so they managed another defection from the conservatives but a very public row over diane abbott. 0nly seemingly resolved today. conservatives delighting in suggesting it looks like keir starmer is weak and has been bossed around by his deputy. the labour campaign had been looking pretty focused and polished, that's not how it has looked in the last couple of days. keir starmer trying to move on from it, he had an interview in the times tomorrow in which he says his number—one mission is wealth creation and he wants to, "win from the centre ground." conservative strategy continues to be eye—catching announcements, new policy announcements, trying to shore up their vote and tempt people
simonjack there. and chrisjoins me now. end of first full week of campaigning, chris — how's it gone? i think ithink in i think in the last couple of days we have got on the ritualistic gush of announcements, new or otherwise, they are still going on but there have been events and stuff happening, not least the noise in the labour party so they managed another defection from the conservatives but a very public row over diane abbott. 0nly seemingly resolved today. conservatives delighting in...
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May 7, 2024
05/24
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but as our business editor simonjack explains, arch uk rival shell is doing much better than bp — raising questions for some shareholders about the company's strategy. we are coming out of the back end of the energy crisis that was sparked by russia's invasion of ukraine which saw russian oil and gas supplies either shut off or shunned by many markets which sent prices rocketing. so we're coming down from there. it's very unlikely that the likes of bp will ever make as much money as they did during that 2022 to 2023 period. but what is interesting about the bp numbers, down 45% on lower oil and gas profits, they slightly missed the estimates that people said they were expecting them to make in profits. whereas shell, a similar company profile, actually exceeded their estimates. this is down to the fact that shell has been unapologetically going hell for leather for more oil and gas production. bp has been less aggressive in that way, saying it's trying to stick to its transition plans. both have weakened them a little bit, but there is some tension between bp and shell shareholders saying
but as our business editor simonjack explains, arch uk rival shell is doing much better than bp — raising questions for some shareholders about the company's strategy. we are coming out of the back end of the energy crisis that was sparked by russia's invasion of ukraine which saw russian oil and gas supplies either shut off or shunned by many markets which sent prices rocketing. so we're coming down from there. it's very unlikely that the likes of bp will ever make as much money as they did...
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May 31, 2024
05/24
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simonjack, our simon jack, our business simonjack, our business editor. the time is 18:17. our top story this evening... donald trump vows to appeal his criminal conviction, venting against the judicial system, as american politics enters uncharted territory. and the spelling bee champ, who spelt out 29 words, in 90 seconds. coming up on bbc news... there will be an englishman lifting the champions league trophy tomorrow. jude bellingham's real madrid are looking to win it for a 15th time. they are up againstjadon sancho's borussia dortmund at wembley. ahead of the election, we're hearing from our political reporters right across the uk, finding out what the most pressing issues are in their local areas. tonight, we're in leicester in the east midlands with tom parker, but first, from selby in yorkshire, let'sjoin richard edwards, outside selby abbey. richard. yes, welcome to itself in north yorkshire, a county where traditionally on election night, the conservative vote was way rather than county, such was the tory dominance here. but it appears some cracks have started to
simonjack, our simon jack, our business simonjack, our business editor. the time is 18:17. our top story this evening... donald trump vows to appeal his criminal conviction, venting against the judicial system, as american politics enters uncharted territory. and the spelling bee champ, who spelt out 29 words, in 90 seconds. coming up on bbc news... there will be an englishman lifting the champions league trophy tomorrow. jude bellingham's real madrid are looking to win it for a 15th time. they...
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May 7, 2024
05/24
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let's speak now to our business editor simonjack. it tells us we are coming out of the back end of the energy crisis sparked by the invasion of ukraine by russia oil and gas supplies short of or shunned by many markets which sent prices rocketing. we are coming down from there. i think it's very unlikely that the likes of bp will ever make as much money during the dead during that 2022, 2023 period. what is interesting about the bp numbers, down 45%, this likely miss the estimates that people said they were expecting them to make profit. where as shell, similar company profile, exceeded their efforts. they have been unapologetically going hell for leather for more oil and gas production. bp has been less aggressive in that way, trying to trick to its transition plans, both as we condemn a little bet but there is tension between bp and shell shareholder saying they would like the bp strategy to be more like shell. ,., ., the bp strategy to be more like shell. ., ., ~ ., ., shell. good to talk to you, our business editor. _ in the uk,
let's speak now to our business editor simonjack. it tells us we are coming out of the back end of the energy crisis sparked by the invasion of ukraine by russia oil and gas supplies short of or shunned by many markets which sent prices rocketing. we are coming down from there. i think it's very unlikely that the likes of bp will ever make as much money during the dead during that 2022, 2023 period. what is interesting about the bp numbers, down 45%, this likely miss the estimates that people...
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May 21, 2024
05/24
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our business editor, simonjack, is here with more. there is a huge range in the increases to annual average bills that the different companies are asking the regulator to approve — these numbers include inflation of 2% per year. at the top, southern water with a rise from £479 a year now to £915 a year in 2030 — an eye—watering 91% rise. south staffs water, asking for a rise from £178 a year to £221 — a rise of only 24%. often the companies with the biggest problems like southern and thames need the most investment, so the angriest customers may see the biggest rises, which won't sit well. i don't think people are prepared for the magnitude of what we're seeing proposed here. people do want to see improvements. they do understand that that takes investment. but i think the scale of what's being proposed here is going to come as a real shock. and this is why water companies have to double down their efforts to explain what people are getting for their money. water companies say the regulator's focus for years has been on ke
our business editor, simonjack, is here with more. there is a huge range in the increases to annual average bills that the different companies are asking the regulator to approve — these numbers include inflation of 2% per year. at the top, southern water with a rise from £479 a year now to £915 a year in 2030 — an eye—watering 91% rise. south staffs water, asking for a rise from £178 a year to £221 — a rise of only 24%. often the companies with the biggest problems like southern...
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May 29, 2024
05/24
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our business editor simonjack is with me. if this goes through, what difference will it make to people who use royal mail? first boss of the royal mail henry viii 500 years ago, potential future boss this man, daniel kretinsky, he owns some of sainsbury�*s and west ham and owned 27% of the royal mail which was privatised over a decade ago, today the board of the owners recommended that other shareholders sell him the rest, as you say, this is clearly sensitive, so it comes with assurance, retaining the name and brand, no compulsory redundancies until 2025, but with the possibility of extending that, and maintaining the one price goes anywhere universal service obligation, the government can block this deal, jeremy hunt said scrutiny would be brought to bear but they don't object in principle. the shadow business secretary says the assurances are welcome, but even the unions don't seem that violently opposed. what will users notice? well in the short—term hopefully nothing because it's a regulated service but expect focus
our business editor simonjack is with me. if this goes through, what difference will it make to people who use royal mail? first boss of the royal mail henry viii 500 years ago, potential future boss this man, daniel kretinsky, he owns some of sainsbury�*s and west ham and owned 27% of the royal mail which was privatised over a decade ago, today the board of the owners recommended that other shareholders sell him the rest, as you say, this is clearly sensitive, so it comes with assurance,...
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May 29, 2024
05/24
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simonjack�*s here to tell us more. the first owner of royal mail was henry viii, 500 years ago. 12 years ago it was split from the post office and privatised. this man wants to be the next owner. daniel kretinsky, a reclusive czech billionaire with stakes in sainsbury�*s, west ham football club and already owns 27% of royal mail's parent company. clearly a very sensitive case, so he is offering some assurances to allay concerns from unions and politicians. and they are to keep the brand, the uk headquarters and keep paying tax in the uk. maintain the one price goes anywhere "universal service". and promise no compulsory redundancies till 2025 — in line with the current deal between royal mail and the unions — which may be extended with negotiation. but royal mail is not in the rudest of health. it made a loss last year of £3118 million. and has consistently missed delivery targets with 74% of first class letters delivered next day — against a target of 93%. it's been hit with fines and strikes over the last fe
simonjack�*s here to tell us more. the first owner of royal mail was henry viii, 500 years ago. 12 years ago it was split from the post office and privatised. this man wants to be the next owner. daniel kretinsky, a reclusive czech billionaire with stakes in sainsbury�*s, west ham football club and already owns 27% of royal mail's parent company. clearly a very sensitive case, so he is offering some assurances to allay concerns from unions and politicians. and they are to keep the brand,...
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May 16, 2024
05/24
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here's our business editor simonjack. for centuries the area around saint paul's several together companies that need money to grow and those who have money to invest. it is home to the london stock exchange with pensions and savings buy shares in companies so we can share in theirfuture success. in companies so we can share in their future success. but firms are leaving the london market and looking elsewhere. like this biotech is looking at higher prices in stop it is bad news for london. it’s higher prices in stop it is bad news for london.— higher prices in stop it is bad news for london. it's more than a crisis it's _ news for london. it's more than a crisis it's next _ news for london. it's more than a crisis it's next -- _ news for london. it's more than a crisis it's next -- it's - news for london. it's more than a crisis it's next -- it's an - a crisis it's next —— it's an existential crisis, i don't see any world with united kingdom should not be actively engaged and practising artificial intelligence te
here's our business editor simonjack. for centuries the area around saint paul's several together companies that need money to grow and those who have money to invest. it is home to the london stock exchange with pensions and savings buy shares in companies so we can share in theirfuture success. in companies so we can share in their future success. but firms are leaving the london market and looking elsewhere. like this biotech is looking at higher prices in stop it is bad news for london....
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May 31, 2024
05/24
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here's bbc business editor simonjack. over the last 30 years, renewable energy has been a big success story. last year, 40% of our electricity was generated by renewables. labour are targeting 100% by 2030. now, to help it hit that target, labour wants to create something called great british energy. so what would that be? well, a government—owned energy company, headquartered in scotland, funded with £8.3 billion. how is that paid for? well, labour say by further raising taxes on oil and gas companies, something the lib dems also back. and those companies will not be granted any new licences to develop fossilfuels in uk waters, although existing grants will be honoured. labour claim it will help the uk decarbonise electricity production by 2030, make the uk less reliant on energy imports and price shocks, while driving down household bills by £300 by the end of the next parliament. now, many experts feel the 2030 target may be unrealistic, and billions will need to be spent and recouped through bills which could offs
here's bbc business editor simonjack. over the last 30 years, renewable energy has been a big success story. last year, 40% of our electricity was generated by renewables. labour are targeting 100% by 2030. now, to help it hit that target, labour wants to create something called great british energy. so what would that be? well, a government—owned energy company, headquartered in scotland, funded with £8.3 billion. how is that paid for? well, labour say by further raising taxes on oil and...
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May 28, 2024
05/24
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with me is our business editor — simonjack. you were listening to rachel reeves earlier in the day, give me your analysis in terms of what you heard. they have been on immediate charm offensive to its business in the last couple of years and their main pitch has been they can provide the stability that businesses enjoy, and they say that stability in itself is changed, in a period where we have had five prime ministers, seven chancellors and the taxes have yo—yo to quite a bit. they have pledged to keep corporation tax where it is, at 25% over the next parliament, and if we have any big permanent policy changes, we will get the ob art to have a look at it and cost it. contrast it with the mini budget we saw, this was rachel reeves talking today. saw, this was rachel reeves talking toda . ,, ,. , saw, this was rachel reeves talking toda. ,, ,. , ., saw, this was rachel reeves talking toda. ,, ,. , today. she described labour as the -a of today. she described labour as the party of business. _ today. she described labour as the
with me is our business editor — simonjack. you were listening to rachel reeves earlier in the day, give me your analysis in terms of what you heard. they have been on immediate charm offensive to its business in the last couple of years and their main pitch has been they can provide the stability that businesses enjoy, and they say that stability in itself is changed, in a period where we have had five prime ministers, seven chancellors and the taxes have yo—yo to quite a bit. they have...
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May 29, 2024
05/24
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here's our business editor simonjack. founded in the time of henry viii, royal mail still carries the monarch's insignia. it was split off from the post office and privatised over a decade ago, allowing anyone to buy shares. czech billionaire daniel kretinsky has already snapped up 27% of them, and royal mail's owners are recommending other shareholders accept his offer to buy the rest. but unions, the current government, and opposition politicians want assurances which include retaining the name and brand, its uk headquarters, paying taxes in the uk, and no compulsory redundancies. this offer is expected to accept those, but unions are still uneasy. look, we feel it's a failure of privatisation. it's almost 12 years since royal mail were privatised and, you know, it's been mismanaged for years. and now it looks like we're going to be owned by a foreign equity company, which we're really concerned with because quality is down, morale is down. and whilst there's been some assurances, we've been told, we are really concerne
here's our business editor simonjack. founded in the time of henry viii, royal mail still carries the monarch's insignia. it was split off from the post office and privatised over a decade ago, allowing anyone to buy shares. czech billionaire daniel kretinsky has already snapped up 27% of them, and royal mail's owners are recommending other shareholders accept his offer to buy the rest. but unions, the current government, and opposition politicians want assurances which include retaining the...
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May 29, 2024
05/24
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simonjack, bbc news. let's turn to ukraine because since russia launched its full—scale invasion of ukraine, almost 2,000 children have been injured or killed. and the suffering is not only physical. child psychologists report a "catastrophic" surge in young people across the country struggling with symptoms, including panic attacks and depression. our eastern europe correspondent, sarah rainsford, reports. angelina lives in the ruins of a war that's transformed her childhood. her kindergarten was destroyed in russian shelling and the eight—year—old's head is full of memories from when russian forces first tried to take kharkiv. translation: it was very scary when i was in the basement. i i thought, "when will it all end?" there were rockets flying. it was frightening. and there was a plane that flew over us. angelina's family fled then through all this, desperate for safety. but they came back last year because this is home, despite everything. her mum shows me the shrapnel marks in the kitchen. an
simonjack, bbc news. let's turn to ukraine because since russia launched its full—scale invasion of ukraine, almost 2,000 children have been injured or killed. and the suffering is not only physical. child psychologists report a "catastrophic" surge in young people across the country struggling with symptoms, including panic attacks and depression. our eastern europe correspondent, sarah rainsford, reports. angelina lives in the ruins of a war that's transformed her childhood. her...