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West London airport reports 7.86 million passengers in July, compared with 8.15 million for IstanbulBusiness live – latest updatesHeathrow airport has argued “the case for expansion has never been clearer” after it lost its position as Europe’s busiest airport to Istanbul.Figures published on Tuesday showed 7.86 million passengers passed through Heathrow’s four terminals in July,whereas its Turkish counterpart recorded 8.15 million passengers over the same period. Continue reading...

Barclays says survey shows people feel more secure in jobs and have more leeway to spend on non-essentialsBusiness live – latest updatesConsumer confidence hit its highest level in almost two years in July, according to research that indicated the closing stages of the men’s football World Cup and more people holidaying in the UK lifted summer spending.A truce in the Middle East conflict in June and the arrival of a new prime minister in No 10 also gave a lift to consumers after a long

Justice department says it decided to abandon fraud and bribery case in which Adani Group has denied wrongdoingA US judge on ⁠Monday dismissed criminal charges against the Indian ⁠billionaire Gautam Adani, after ​the justice department said it had decided to abandon the fraud and bribery case.The Brooklyn-based district judge Nicholas Garaufis’s decision to grant federal prosecutors’ rare attempt to ⁠toss the case came after he inquired into their reasons for doing so, including by ask

UN index says weather is affecting wheat yields while conflicts in Ukraine and Iran hit exports and drive up pricesBusiness live – latest updatesGlobal food prices have hit their highest level in three and a half years, as summer heatwaves and conflict in Ukraine and the Middle East push up crop costs.The UN Food and Agriculture Organization (FAO) index of food commodity prices rose last month to its highest level since January 2023, after a jump in prices for cereals, sugar and vegeta

Property prices in ‘suspended animation’ owing to higher mortgage rates and uncertainty in Middle EastBusiness live – latest updatesUK house prices were broadly stagnant in July as prospective buyers were squeezed by higher mortgage rates, uncertainty around the Middle East and stretched affordability, according to the lender Lloyds.The average property cost £299,253 in July, down by £143 compared with June, the bank’s monthly index found. Continue reading...

Culture secretary Lisa Nandy says she will not intervene in £85bn deal after securing guarantees on Channel 5The UK culture secretary, Lisa Nandy, has said she will not intervene in Paramount’s proposed acquisition of Warner Bros Discovery, removing one of the remaining obstacles

Airline says it has accepted offer from Apollo Global Management after rival bidder Castlelake walks awayEasyJet has formally agreed to a £5.7bn takeover from US private equity firm Apollo Global Management.The airline announced it had accepted a firm offer on Thursday after a ri

GMB says that as a top-rated ethical company, UK’s largest energy firm should welcome involvement of unionsWorkers are pushing for union recognition at the UK’s largest energy company, Octopus Energy, known as a progressive organisation with a focus on renewable energy.The GMB un

Louise Haigh says taxpayer money must benefit local communities amid backlash from environmental groupsMinisters will scrap the requirement for companies to prove their green and progressive values before they are awarded government contracts, and instead ask firms to prove they will help young people back into work.As part of a government push to reduce the number of people not in education, employment or training (Neets) in the UK and boost regional growth, public sector buyers will

Ben Cohen says his ice cream company has been silenced by corporate ownership – and a boycott of Magnum brands could force a saleBen & Jerry’s ice cream in the tub is still great, but the brand’s newest chocolate-covered ice cream bar on a stick?“It ain’t the same,” Ben Cohen, th

CEO’s pay packet surges to £791,000 as union says public ‘sick of obscene pay’ and bosses ‘feathering own nests’Wessex Water awarded its chief executive an above-inflation pay increase even as the company was banned from paying bonuses because of sewage spills, it has emerged.Ruth Jefferson received a 14% base salary increase in October, from £590,000 to £670,000, before other benefits, according to accounts published this month. It was far above the 3.5% given to workers, and put her

One UK man whose bill is usually less than £1 says he ‘almost had a heart attack’ when he saw £5.8bn invoicePeople always suspected big tech was greedy, but not quite like this. Patrons of Amazon Web Services have been landed with panic-inducing monthly bills running as high as $1.5tn for subscriptions that usually cost less than the price of a cup of coffee.From Bangalore to Bolsover, the bills have been causing alarm after a computer glitch resulted in the astronomical invoices being