Business

The UK’s bioethanol industry faces collapse, after a government decision not to offer the sector a rescue package. The country’s two major producers, Hull-based Vivergo Fuels and the Ensus plant in Redcar on Teesside, have both warned that without government support they will be forced to close, after a deal to allow US ethanol to be imported tariff-free. Associated British …

Jennifer Meierhans Business reporter Getty Images Shein’s UK sales soared by a third last year creating a huge profit boost for the Chinese fast fashion giant, its latest accounts reveal. The brand’s sales to UK shoppers hit £2bn, pushing its profits up by 57% compared to 2023, its full year accounts for 2024 show. However, the company said it recognised …

Rice prices in India have jumped by up to 14% in just two days as traders rush to export to Bangladesh following its decision to allow duty-free import of 500,000 tonnes of the staple. The move has caused a temporary disruption in domestic supply, pushing up retail prices across key varieties, reported ET.According to traders from West Bengal, Uttar Pradesh, …

Prime Minister Narendra Modi on Friday outlined an ambitious roadmap to drastically cut India’s reliance on imported oil and gas, announcing rapid expansion in nuclear power, deep-sea oil exploration, and other clean energy initiatives. Speaking from the ramparts of the Red Fort on the country’s 79th Independence Day, he said energy self-reliance is critical for the nation’s future.PM Modi revealed …

The ministry of finance has released details on the proposed GST reforms, saying that a two-slab GST structure is being mulled. (AI image) Big GST relief soon! Prime Minister Narendra Modi in his Independence Day speech announced that the Goods and Services Tax (GST) burden on the common man is set to come down from this Diwali with next-generation reforms …

Asian stock markets showed a mixed performance on Friday, with strong Japanese growth figures offset by weaker Chinese data, while oil prices slipped ahead of a high-stakes US-Russia summit on Ukraine.As per news agency AFP, Japan’s economy expanded by 0.3% in the April-June quarter, surpassing forecasts, while the previous quarter’s output was revised upwards, helping the world’s fourth-largest economy avoid …

Shares in Intel jumped by more than 7% on Thursday, following reports that the Trump administration is in talks to take a stake in the chipmaker. The reported deal would support the technology firm’s plans to build a manufacturing hub in Ohio, according to Bloomberg, which said the size of the potential stake is not clear. White House spokesman Kush …

Japan recorded modest economic growth in the April–June quarter, overcoming the pressure of steep US tariffs, official figures showed on Friday. Preliminary data from the Cabinet Office indicated that gross domestic product (GDP) grew 0.3% from the previous quarter, outpacing market expectations of 0.1%. The January–March reading was also revised up to 0.1% growth from a previous estimate of contraction, …

PM Modi promised a Diwali gift for people in the form of GST reforms and lower tax burden. (AI image) In a big cheer for the middle class and common man, Prime Minister Narendra Modi on Friday announced upcoming Goods and Services Tax (GST) reforms. Speaking from Red Fort on the occasion of the 79th Independence Day, PM Modi promised …

Zoe Kleinman & Krystina Shveda Technology editor & BBC reporter•@zsk Getty Images Data centres, like this one Google is building in Hertfordshire, are becoming a more familiar sight across the UK. The number of data centres in the UK is set to increase by almost a fifth, according to figures shared with BBC News. Data centres are giant warehouses full …