BUSINESS

Bank of England Deputy Governor Ben Broadbent told investors on Thursday that the big increases in interest rates they had priced in on the back of Prime Minister Liz Truss's fiscal plans would deliver a "pretty material" hit to the economy.

Marlboro maker Philip Morris International Inc on Thursday raised its buyout offer for Swedish Match AB in a last-ditch effort to get shareholder support for its $16 billion move into the fast-growing market for alternatives to cigarettes.

The pot on Saturday will be an estimated £7.1 million since no one scooped the top prize on Wednesday's draw.

There were 130,782 winners who shared the prize fund of £692,801.

Setting a date to phase out gas-powered vehicles could remove "cheap cars" from the market, putting ownership out of reach for many, and be politically dangerous, the board chair of German automaker BMW Oliver Zipse said on Wednesday.

Tesla Inc Chief Executive Elon Musk on Wednesday said he expected the company would miss its vehicle delivery targets this year, but downplayed concerns about softening demand after the company's revenue missed Wall Street estimates.

Amazon.com Inc is launching a home insurance portal in Britain and has signed up three big-name insurers as it pushes further into financial services across the globe.

Musk added that he believes Twitter has potential to be worth "an order of magnitude" more than it is now.

British banks are bracing for a potential tax hit to their profits as the government scrambles to plug an estimated 40 billion pound ($45 billion) hole in its finances.

This Friday's jackpot is £89 million.

Three winners were able to successfully bag the runner-up prize of £5,000 each.

The European Central Bank is set to warn of the adverse impact on Spanish banks' solvency of a proposed tax on the sector and of a higher cost of credit in an upcoming non-binding opinion, two sources with direct knowledge of the matter said.

United Airlines Holdings on Tuesday forecast a profit for the current quarter well above Wall Street estimates after reporting higher-than-expected third-quarter earnings due to a robust rebound in travel demand.

Germany's interior ministry fired the country's cybersecurity chief on Tuesday and launched an investigation into his conduct after media allegations that he may have come into contact with Russian security circles through a consultancy he co-founded.

British company owners are pulling investments as a crisis triggered in Westminster pushes up borrowing costs and hits confidence in an economy once seen by businesses as a haven of stability.

A growing number of funds are betting on the long-term appeal of bitcoin and ether, a gritty gambit in the depths of a crypto winter.

There were 166,639 players who won smaller prizes ranging from £5-250.

BP will pay $3.3 billion in cash plus around $800 million in debt, while the purchase remains subject to regulatory and Archaea shareholder approvals.

The screeching about-turn on tax cuts by finance minister Jeremy Hunt on Monday will not spare Britain from painful spending cuts and new tax hikes to fix the country's public finances.

One player became a millionaire overnight and won the runner-up prize of €1,000,000.

There were 176,859 winners who shared the prize fund of £1,485,499.

Royal Mail could cut up to 10,000 jobs and warned of more layoffs if planned strikes go ahead, as the former British postal monopoly that is locked in a dispute with its largest union on Friday flagged even deeper losses this year, sending its shares as much as 17% lower.

One lucky player was able to bag the second jackpot of £10,000 per month for 1 year.

According to World Bank estimates, 8 out of every 10 people pushed into extreme poverty as a result of the coronavirus pandemic were Indians.

International Monetary Fund Managing Director Kristalina Georgieva on Thursday rebuked the British government over its planned tax cuts, telling its finance minister and central bank chief that their policies should not be contradictory.

There were 106,906 winners who shared the prize fund of £644,107.

One lucky winner bagged the €2,000,000 jackpot.

Qantas Airways Ltd will return to a profit in the first half for the first time since the pandemic began as demand rebounds and it focuses on ensuring reliable operations and sweetens its wages offer to employees, its chief executive said.

British house prices rose last month at their slowest pace since early in the coronavirus crisis and they look on course to fall as a surge in mortgage costs adds to uncertainty about the economy for home-buyers, a survey showed on Thursday.