Business news headlines in under two minutes - April 23 - video Dailymotion

From Rachel Reeves in Washington to Elon Musk’s Tesla troubles and a surprise dividend at Heathrow - here’s your midweek business roundup.

Transcript

00:00Hello and welcome to the latest Business Bulletin on Wednesday, the 23rd of April.

00:05Chancellor Rachel Reeves is in Washington for IMF talks.

00:09She says she'll defend Britain's interests and push for a US trade deal.

00:13The visit comes as global uncertainty grows,

00:15with the IMF warning Trump's tariffs will hit world growth.

00:19Meanwhile, the UK government borrowed more than expected last year.

00:23Public sector borrowing hit £151.9 billion in the year to March.

00:28That's £14.6 billion above forecast.

00:32Elon Musk says he'll focus more on Tesla from May.

00:35This follows a sharp fall in profits and criticism over his role in Trump's government.

00:40Tesla's Q1 profits dropped 71% down to $409 million.

00:46Heathrow's passenger numbers held steady in early 2025.

00:50The airport welcomed 18.2 million travellers in Q1, just below last year's 18.5 million.

00:56Revenue rose 2.1% to £825 million,

01:00thanks to more long-haul flights and stronger retail and property income.

01:04Reading FC have agreed terms with a buyer,

01:07and the EFL has extended the deadline to complete the deal.

01:10They now have until May 5th to finalise the sale.

01:13The buyer's identity is still officially under wraps.

01:16Hobbycraft will close at least nine UK stores.

01:19126 jobs are at risk under a new restructuring plan.

01:24Medela Capital, who bought the firm last August, is leading the changes.

01:28And finally, online retailer THG has turned down a major offer.

01:32A £600 million bid for its MyProtein brand was rejected.

01:37The approach came from Selkirk, led by THG's former chair.

01:40The company called it unsolicited, unfunded and non-binding.

01:44That's all for today. Thanks for listening.