Rolling coverage of the latest economic and financial newsEnvironment secretary urges Britons to ‘cherish’ turnips amid food shortagesIn the City, British Airways’s parent company has returned to profitability, as Covid-19 restrictions were eased last year.IAG tells shareholders that it saw “a strong recovery” in its core markets in 2022, which boosted revenues and cash flows, and helped it post a profit“2022 was a year of strong recovery, driven by sustained leisure demand and markets reopening.At this point of the year we continue to see robust forward-bookings, while also...

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A design engineer and TV presenter, skilled in creating space-saving architectural innovations for the home, is feeling flush after securing financial backing for his latest invention – a frame that allows toilets to be folded away in a cupboard when not in use.Read more: TV inventor’s space saving fold-away toilet frame secures £160,000 investment

Almost a million households can now apply for winter energy payments, but it could still take weeks.

The TSSA union says its 3,000 members have accepted an offer including a two-year 9% pay deal.

A firm that fixes smartphones is calling for an official device repair apprenticeship to be introduced.Read more: Calls for UK phone repair apprenticeship to be introduced after specialists struggle to find staff

The UK’s largest retailers are urging the government to scrap its waste strategy policy, or risk forcing prices up for consumers who are already facing a cost of living crisis. Read more: Retailers demand scrapping of ‘£2bn’ waste strategy policy fearing it will increase costs

Another brighter than expected set of economic numbers out today indicate the UK has a chance of avoiding a much-tipped recession this year.Read more: UK edges further away from recession as families’ economy and inflation outlook brightens

Buy-now pay-later giant Klarna will begin penalising customers for late payments in the UK next month in a bid to curb loan defaults, as shoppers pour onto the platform amid a cost of living squeeze.Read more: Klarna to roll out UK late fees and ‘customer recovery programme’ in bid to curb defaults

Interest rates will need to rise again to prevent inflation becoming a persistent problem in the UK, a Bank of England policymaker has warned.Read more: Interest rates will need to rise again, warns Bank of England rate-setter

The shift to electric cars has continued with combined battery-electric, plug-in hybrid and hybrid electric vehicle production in January rising by almost 50 per cent compared with a year ago.Read more: Electric car production nears record for January

While overall price rises in the UK slow, food inflation may not have peaked yet, research suggests.

UK growers delay planting crops due to high energy prices, producers say.

Data source by the private pension provider, Penfold, has revealed that the average cost to put your child into a nursery full-time could hit £59.82 per day or £1,195.04 per month by April 2023.Read more: London nursery fees could hit 80% of the average monthly wage in April

The first 260 job cuts have been announced by British Steel in what is feared will be the first of many more redundancies at the Scunthorpe-based steelmaker.Read more: British Steel announce first 260 jobs to go at Scunthorpe plant with many feared to follow

New research from American Express shows that the UK’s small business leaders recognise the importance of frequent breaks and downtime to the success of their business and a healthy work-life balance – but day-to-day pressures mean many are struggling to carve out the time.Read more: Entrepreneurs see regular breaks as vital to success, but pressures mean many miss out 

Vodafone has unveiled a prototype 5G network built on a credit card sized Raspberry Pi personal computer and an equally small, advanced silicon chipset.Read more: Vodafone credit card size 5G network could eventually expand private wireless markets

Employee theft has jumped by a fifth as the rising cost of living triggers a wave of workplace crime, new data suggests.Read more: Employee theft jumps by a fifth as cost of living pressures mount

London Underground drivers are to strike on 15 March – budget day – in a dispute over pensions and working arrangements.Read more: London Underground drivers to strike on 15 March

Kai Hunter, Executive Director at Conister Finance & Leasing explains that research her company undertook recently revealed that over a fifth of UK SMEs that required external finance over the last two yearsRead more: Why SMEs won’t ditch Green intentions despite ongoing financial uncertainty

Supply issues have led the grocers Asda, Aldi and Morrisons to limit sales of fresh produce.

US Supreme Court justices sounded wary on Tuesday of tinkering with a legal shield for social media firms in a case that could reshape the internet.Read more: US Supreme Court wary of removing tech firms’ legal shield

Over 160,000 small businesses in the UK with between one and nine employees, will not have employer’s liability insurance by the end of the year, according to new research.Read more: 160,000 SMEs without mandatory employers’ liability insurance risk fines and prosecution

Unions have warned on the future of UK steelmaking after British Steel announced it will shut its coking ovens in Scunthorpe and cut up to 260 jobs.Read more: Warning over future of British Steel as it cuts jobs

Mexican beef could hit UK supermarket shelves as the farming minister confirmed that the high-carbon meat could be imported under a new trade deal.Read more: UK farmers voice concern as UK minister confirms beef could be imported from Mexico