Several readers wrote in wondering how mortgage rates could go up at the same time the bank was lowering rates for some of its savers. One of the most commented on stories in the Money blog this week has been Santander announcing a hike to some of its mortgage rates (it lowered others). The company will have to pay £24.9m in redress to its customers, which will lower bills, while a further £15m fine will be absorbed by the water firm, according to Ofwat. Regulator Ofwat said an investigation that started in May last year found evidence of a "significant failure of governance and management oversight".
Welsh Water has been ordered to pay out nearly £40m after the industry watchdog found the firm misled it over its record of tackling leaks and saving water. The sportswear giant said sales in the US were likely to fall again this year as stores deal with a drop in demand and excess stock.Ĭhief executive Bjorn Gulden said the results were "by far not good enough" but the end of 2023 was better than expected.Īdidas was left with Yeezy shoes worth $1.3bn (£1bn) after cutting ties with West over his antisemitic comments in 2022. It said it would not hand a bonus to workers "after careful consideration" (they have given staff a bonus every year bar two since 1953) but would increase overall pay.Īdidas has posted its first annual loss in more than 30 years, as it continues to deal with the impact of the end of its lucrative deal with US rapper Kanye West. The company behind Waitrose grocery shops and the John Lewis department stores recorded a profit of £56m, after a loss of £234m in the previous financial year.
John Lewis has returned to profit for the first time in three years but staff face another year with no bonus.