Business

Overturning the convictions of guilty sub-postmasters to exonerate all those unfairly prosecuted due to the Horizon scandal is a “price worth paying”, according to the government. Under new legislation, the government says it will “quash all convictions which are identified as being in scope”. The Post Office minister says that possibly exonerating people guilty of
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British companies are exporting hundreds of millions of pounds of equipment and machinery which almost certainly ends up in Russia, undermining the official sanctions regime and bolstering Vladimir Putin’s war machine, according to data analysis from Sky News. The items – which include drone equipment, optical supplies and heavy machinery – are being sent to
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Higher interest rates helped HSBC achieve record annual profits last year but the sum was dented by the economic slowdown in its biggest growth market. Europe’s largest lender, which is UK based but largely Asia focused, reported pre-tax profits of $30.3bn (£24bn) for 2023 – a 78% rise on 2022’s sum. While much of that
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Retail sales have grown significantly – far exceeding expectations – as consumer spending bounced back in January. The 3.4% increase in retail sales is more than double the 1.5% rise forecast by analysts – and suggests the economy is recovering. On Thursday, the UK officially entered recession after two consecutive three-month periods of contraction –
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Campaigners are urging the government to double maternity pay amid fears mothers are making “drastic” choices because they cannot afford to live on the current statutory weekly amount. The amount should be increased to £364.70, according to trade union Unison and charity Maternity Action. Both organisations say they are concerned some women are going back
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The UK economy has officially entered recession, figures show. A recession is defined as two consecutive three-month periods where the economy contracts rather than grows. A major measure of economic growth, gross domestic product (GDP) shrank 0.3% between October and December, the latest Office for National Statistics (ONS) data shows. It’s a steeper fall than
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Bitcoin has returned to the $50,000 level for the first time since December 2021, riding on the coat tails of a wider rally for US stocks. The world’s largest cryptocurrency, which hit one-month highs last Friday, maintained its momentum on Monday by rising almost 5%. Rivals, such as ether, saw similar percentage moves. Analysts credited
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