EasyJet profits climb as package holidays sell well despite price rises

EasyJet has reported a rise in annual profits as strong demand for its package holidays to destinations including Tenerife and Lanzarote offset more difficult trading for its airline.The owner of Europe’s second-biggest budget airline upgraded its outlook for its holidays division, where it raised prices by an average of 5% to £698 for each break.EasyJet said it had invested in longer leisure and city routes, to Cape Verde, Marrakech, Turkey and Egypt. Its most popular package holiday destinations were Mallorca, Tenerife, Costa Blanca, Dalaman and Lanzarote. Top city breaks included Amsterdam, Paris, Prague, Krakow and Barcelona

FCA makes inquiries into WH Smith accounting error that wiped almost £600m off value

The City watchdog has contacted WH Smith to find out more about its accounting error that wiped almost £600m off the company’s stock market value overnight and led to the departure of its chief executive.The Financial Conduct Authority (FCA) said it had started making inquiries to assess whether the company had breached UK disclosure rules for listed companies, but was yet to launch a formal investigation.“We are aware of the reports and we are engaging with the firm,” a spokesperson said.The newspaper, books and stationery chain cut financial forecasts in August and launched an independent review led by Deloitte after it discovered an accounting blunder at its North American arm.The revelation came just a few months after the chain sold its high street business, which has since been rebranded as TGJones by its new owners

UK bank shares rise after reports of budget tax reprieve

UK bank shares have jumped as investors grow increasingly confident that the industry will be shielded from tax rises in Rachel Reeves’s budget this week.Shares in some of the UK’s largest high street lenders rose more than 2% on Tuesday, after reports that the Treasury had asked the sector to issue supportive statements about the following day’s budget, raising expectations they would be spared a further levy.Lloyds rose by 3.8%, NatWest went up 3.7% and Barclays added 2

Australia is bringing in ‘world first’ minimum pay for food delivery drivers – here’s how it will work

Food delivery companies in Australia have teamed up with the Transport Workers’ Union to set new minimum standards for delivery drivers, including a minimum hourly wage and accident insurance for injuries sustained on the job.In a deal described as a “world first”, the country’s two largest food delivery services, DoorDash and Uber Eats, have submitted a joint application with the Transport Workers’ Union to the Fair Work Commission.The deal still requires approval from the industrial umpire, but here’s what we know so far.The application to the FWC comes after a wide range of workplace reforms was introduced by the Albanese government, which included empowering the industrial umpire to set minimum standards for gig workers.DoorDash, Uber Eats and the TWU have agreed on new protections for delivery drivers after years of talks

‘Replacing the old, stuffy department store’: John Lewis boss on its revamp

You may think the department store has had its day. Debenhams and Beales have left the high street, House of Fraser has closed almost two-thirds of its stores and Fenwick exited its prime London site.Peter Ruis, the managing director of John Lewis, has a different view. After closing 16 stores during the pandemic and shedding thousands of jobs as it fought for survival, he says expansion is now “definitely something we are looking at”. The 161-year-old retailer is spending £800m by 2029 on giving its 36 remaining outlets a reboot

Black Friday discounts fail to offer cheapest prices, Which? research finds

Shoppers holding out for a Black Friday bargain on 28 November may not get the best prices, according to Which? research that found none of the offers on the day were at their lowest level over a 12-month stretch.The consumer group compared prices for 175 home, tech and health appliances across eight retailers, ranging from Amazon to John Lewis. Prices were tracked over a full year, from May 2024 to May 2025, including the 2024 Black Friday period.It found that on the day of Black Friday 2024 none of the items it looked at were at the cheapest price they had been over the surrounding year.Britons are expected to spend £9