Here are some of the top business stories making the national headlines this morning.
Royal Mail owner puts cost of strikes at £200m
Royal Mail’s parent firm has raised its estimate for the cost of industrial action so far to £200m and claimed that up to 12,500 union members have worked on strike days, reports Sky News.
UK car production collapses to lowest for 66 years
The number of new cars made in the UK fell sharply again last year, sinking to its lowest level since 1956.
The drop marks a 10% fall from 2021, which itself was a historic low, reports the BBC this morning.
EasyJet reports record bookings despite cost of living crisis
EasyJet has lauded a record surge in bookings in January as passengers prioritised travel for the coming year amid signs airlines are finally recovering from the pandemic downturn, report The Guardian.
Back up coal plants fired up for third time this week as blackout threats loom
National Grid has begun warming up its back-up coal-fired power stations for the third time this week as it battles with an energy squeeze brought on by the cold weather, report The Telegraph.
The Collapse of the UK’s Electric Vehicle Champion
Britishvolt promised investors it would be the cornerstone of the country’s battery industry. Now it faces bankruptcy, reports WIRED.
M&S chair says UK Government’s ‘baffling’ post-Brexit plans will wreck trade
Marks & Spencer’s chairman has become the latest business leader to criticise the Government’s economic policy, with Archie Norman calling plans to ease post-Brexit trade “overbearing” and “baffling”, report the Evening Standard.