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Insider Media
  • 5 days ago
Transcript
00:00Good morning and welcome to the latest Business Bulletin on Tuesday the 17th of June.
00:05A £500m deal between Network Rail and British Steel will help save Scunthorpe Steelworks.
00:10The five-year agreement secures thousands of jobs by supplying over 330,000 tonnes of rail track.
00:16It follows emergency government action to delay the closure of the site's blast furnaces.
00:20Transport Secretary Heidi Alexander says the deal transforms British Steel's future.
00:25Aviva's £3.7bn takeover of direct line is expected to complete next month.
00:31The insurer says talks with the competition watchdog have been constructive.
00:34A final decision from the CMA is due by July 10th and Aviva remains confident.
00:39The deal will create a motor insurance giant covering more than 20% of the UK market.
00:45The world's biggest banks ramped up fossil fuel financing in 2024, pouring in nearly £640bn.
00:51A major report shows Barclays, HSBC, NatWest and Lloyd's among those backing oil, gas and coal firms.
00:58The research tracked lending to over 2,700 fossil fuel companies worldwide.
01:03It's a £120bn increase on last year, despite mounting climate concerns.
01:09A third of UK business owners say they plan to cut more jobs after April's rise in national insurance contributions.
01:15New research shows some have already slashed staff, frozen pay or raised prices to cope.
01:20The hike, alongside a higher minimum wage, hit firms hard this spring.
01:25Gareth Bale is part of a US consortium eyeing a takeover of League One side Plymouth Argyle.
01:30Talks are still in the early stages after a previous deal to sell a club state collapsed.
01:35Bale could follow Luka Modric, who recently invested in Swansea, to boost its global reach.
01:41And finally, a Japanese food giant has announced a £17m expansion in Greater Manchester.
01:46MISCAN, maker of Sarsons Vinegar, will upgrade its Middleton factory and develop new products.
01:52The move comes as the city region begins a trade mission to Tokyo and Osaka.
01:56MISCAN says the investment cements Greater Manchester as its European hub.
02:01That's all for today. Thank you for listening.
02:03I'll see you next time.