Business

Rolling coverage of the latest economic and financial news Energy companies BP and Shell are unsurprisingly the worst performers across the FTSE 100 this morning, with their shares down by 3.8% and 2% respectively thanks to the weaker oil price. Overall the energy sector is down by about 2.6%. JD Sports is the best performer, with shares in the fashion retailer up 3.6%. Vodafone is second, with its shares up 3% after an upbeat quarterly update this morning. Continue reading...

The Guardian Business • 6 hours ago

No strikes have been reported from either side since Friday, leaving oil investors optimistic about a resolution to the conflict.

NYT Business • 6 hours ago

Fire Point makes 100 long-range missiles and thousands of drones a month and is vital to Kyiv’s deep strike capability, says CEO Iryna Terekh Ukraine’s leading arms company is manufacturing about 100 long-range Flamingo cruise missiles a month, a rate able to support an enduring campaign of deep strike against targets hundreds of miles inside Russia. Fire Point is also making FP-1 and FP-2 fixed-wing drones at a rate of “hundreds per day”, according to chief executive Iryna Terekh. Manufacturing at scale is restarting after a pause caused by the delay in signing off €90bn of EU lending to Ukraine . Continue reading...

The Guardian Business • 7 hours ago

The meteoric rise on its first day of trading catapulted CXMT, China’s leading memory chip maker, to being the most valuable company on the Shanghai stock exchange.

NYT Business • 7 hours ago

I’m a self-employed driving instructor and I’m running out of cash to hire a replacement dual-control vehicle My livelihood as a self-employed driving instructor is under threat owing to Nissan’s failure to repair my leased dual-control car. It has been off the road awaiting a spare part for three months, and I’ve now been told it will take at least a further month to arrive. Continue reading...

The Guardian Business • 7 hours ago

London store also plans bigger haberdashery area, where it will hold autumn workshops for crafters Liberty has more than doubled the size of its fabrics department as it prepares to embrace the social media interest in sewing by hosting crafting classes this autumn. Fabric sales rose 11% last year at the central London department store, which opened near Oxford Circus in 1924, and Liberty is expecting a similar pace of growth this year as crafters are joined by wealthy overseas shoppers who stock up on luxury fabrics to be tailored into bespoke outfits in their home countries. Continue reading...

The Guardian Business • 7 hours ago