Watch: National business news headlines - May 28 - video Dailymotion

Watch Watch: National business news headlines - May 28 - Insider Media on Dailymotion

Transcript

00:00Hello and welcome to the latest Business Bulletin on Wednesday the 28th of May.

00:05Thames Water has been hit with a record £104.5 million fine for sewage failures,

00:10plus £18.2 million for breaking dividend rules. Regulator Ofwat says the penalty will be paid

00:15by the company and its investors, not customers. It follows Ofwat's biggest ever probe into how

00:21sewage works. Pets at Home has posted flat revenue with retail and vet services pulling

00:26in opposite directions. Retail profit fell 16.6% to £72.9 million, while vet profit surged 23.3%

00:34to £75.9 million, overtaking retail for the first time. Vet revenue now makes up a third of the

00:41business. Retailers across the board are bracing for tough times with plans to raise prices, cut jobs

00:47and slash investment. A CBI survey shows sector confidence has dropped faster than at any point

00:53since the pandemic. Rising costs from tax hikes and a higher minimum wage are squeezing businesses.

01:00Wilmot Dixon is back in profit, reporting £46.8 million before tax after a £14.4 million loss

01:07last year. The turnaround follows recoveries from cladding-related costs and a steady £1.2 billion

01:13turnover. The construction firm says it's entering the new financial year with strong momentum.

01:18The UK's biggest bioethanol plant says it could shut down due to the latest UK-US trade deal.

01:25Hull-based Vivergo Fuels warns the removal of a key tariff on US ethanol is the final blow. It says

01:31British producers can't compete with subsidised US imports. And growth investor BGF has pledged £100

01:38million to support Welsh businesses. It's part of a wider £3 billion UK commitment over the next five

01:44years. BGF has already invested £47 million in Wales since 2011. It's also backing female-led firms

01:51with £300 million earmarked across the UK. That's all for today. Thank you for listening.