Watch: National business news headlines in under two minutes - May 2 - video Dailymotion

Watch Watch: National business news headlines in under two minutes - May 2 - Insider Media on Dailymotion

Transcript

00:00Hello and welcome to the latest Business Brief on Friday the 2nd of May.

00:04Reform UK has beaten Labour by just six votes in Runcorn and Helsby.

00:09It's Sir Keir Starmer's first by-election defeat as Prime Minister.

00:12The seat had a Labour majority of nearly 15,000 less than a year ago.

00:17Nigel Farage called it a big moment as reform gained ground in local elections nationwide.

00:23Nat West has posted stronger than expected profits, hitting £1.8 billion in Q1.

00:28Boss Paul Thwaites says customers stayed resilient despite global uncertainty.

00:33Lending, deposits and trading income all rose in the quarter.

00:36The government's stake in the bank recently dropped below 2%.

00:39Shell has reported a dip in profits as it presses ahead with investment and shareholder payouts.

00:45Adjusted earnings fell 27.9% to £4.19 billion in the first quarter.

00:51It comes amid falling oil prices and tighter market conditions.

00:55Harrods was hit by a cyber attack yesterday, joining a growing list of UK retailers being targeted.

01:02The luxury store cut internet access to protect its systems.

01:05Harrods says it's investigating and working to protect customer data.

01:10UK factories have seen the steepest drop in export orders since the pandemic.

01:15Demand from the US, Europe and China is falling amid fears over Trump's tariffs.

01:19April's manufacturing index rose slightly but still shows seven straight months of decline.

01:25And Microsoft is hiking Xbox prices in the UK and elsewhere, citing rising costs and market pressures.

01:32In Britain, the Series S goes up by £50 to £300 and the Series X hits £500.

01:38Controller and headset prices are rising too, as are game prices.

01:42That's all for today. Thank you for listening.

01:45I'll see you next time.

01:46I'll see you next time.