Business

Hundreds of flights have been cancelled by Ryanair and easyJet ahead of a planned French air traffic control (ATC) strike, which is set to cause widespread disruption across European airspace this weekend. Ryanair, Europe’s largest airline by passenger numbers, confirmed it had cancelled 170 flights, while easyJet announced 274 cancellations as France braces for another round of industrial action by air traffic controllers. The disruption will affect both direct flights to and from France and...

UK government bond markets steadied on Thursday morning after Keir Starmer publicly reaffirmed his support for Chancellor Rachel Reeves, easing investor concerns over fiscal stability in the wake of rising borrowing costs. The rally comes after a sharp sell-off in UK gilts earlier this week, which saw yields on long-dated bonds surge amid speculation that a change in chancellor might lead to looser fiscal policy and higher government borrowing. In early trading, the yield on...

The government has pledged to monitor the outcome of a major legal case against Vodafone closely, following a powerful adjournment debate in Parliament that saw MPs from across the political spectrum rally behind franchisees alleging mistreatment by the telecoms giant. Led by Conservative MP Sir John Hayes, the debate on Wednesday 2 July raised serious concerns over Vodafone’s conduct towards its former and current franchisees, who are now suing the company for more than £120...

All 17 companies that took part in the latest UK trial of a four-day working week have opted to continue with the model or a variation of it, after seeing benefits in staff wellbeing, mental health and productivity. The six-month trial, organised by the 4 Day Week Foundation and monitored by researchers at Boston College in the US, involved nearly 1,000 employees across a diverse range of organisations — from housing associations and professional bodies...

UK-based custom furniture brand Roomix has secured £850,000 in fresh investment to accelerate its growth and reimagine how families furnish their homes. The funding round brings the startup’s total raised to over £1 million since its 2022 launch. Founded by Shona Chalmers and Mark Apter, Roomix aims to make bespoke furniture more accessible to modern families. The company connects customers with a nationwide network of artisan joinery workshops, producing made-to-order, customisable pieces designed to adapt...

Frasers Group, the retail empire controlled by Mike Ashley, has secured a new financing package worth up to £3.5 billion, significantly strengthening its financial firepower for future acquisitions and growth initiatives. The group announced today that it has replaced its existing £1.65 billion loan facilities with a £3 billion term loan and revolving credit facility, provided by a syndicate of banks. The new facility runs for an initial three-year term and includes two one-year extension...

Across the globe, countries are waking up to the potential of advanced technology. From the EU’s pioneering AI Act to various tech conferences – such as the Global AI Summit, set to be held in Canada later this year – nations are coming together under the commitment to reap the benefits of digital transformation, while seeking to mitigate risks. But how do you integrate emerging technology, such as AI, into the business of government? And...

Neutronic, the nootropics drink brand founded by Chris Williamson and James Smith, has raised $3.7 million in its first external funding round, valuing the company at $20 million just 18 months after its launch. The round attracted a high-profile group of investors, including fitness entrepreneur Kayla Itsines and Grenade founder Alan Barratt, as Neutonic looks to capitalise on booming demand for mindful alternatives to traditional energy drinks and coffee. Launched in November 2023 by podcast...

Amazon’s use of warehouse robots has surged to more than one million, putting them on par with the number of human workers and signalling a pivotal shift in the ecommerce giant’s operations towards AI-driven automation. The milestone, first reported by the Wall Street Journal, marks a turning point in Amazon’s warehouse operations, where automation now supports roughly three-quarters of all deliveries. The company has long emphasised that its robots work “alongside humans”, helping to reduce...

The World Players Super League (WPSL), a pioneering golf league that brings together amateur golfers from around the world to compete in a single, global competition, has generated significant interest from investors. With a current valuation of £50 billion, the global golf market is expected to continue growing, driven by increasing demand for golf-related experiences and merchandise. The WPSL, an extension of the European Players Super League (EPSL), has already attracted a substantial following, with...