Ørsted has announced it will discontinue its Hornsea 4 offshore windfarm project in its current form, citing rising supply chain costs, higher interest rates, and increased execution risks.
The 2,400 MW project, located about 69 kilometers off the Yorkshire coast and previously awarded a government Contract for Difference, will no longer proceed under the current plan.
Ørsted’s CEO Rasmus Errboe emphasized the company’s commitment to the UK’s offshore wind ambitions but stressed the need for strict capital allocation amid deteriorating project economics.
In retail, Card Factory reported a solid 6.2% revenue increase to £542.5 million, driven by new product lines such as sweets and soft toys. Notably, half of all purchases now include non-card items, reflecting the company’s successful diversification strategy.
This growth comes despite a challenging market, with the company continuing to expand its store network and product offerings.
Trainline delivered record financial results, with net ticket sales rising 12% to nearly £6 billion and revenue up 11% to £442 million for the year ending February 28, 2025. Profit surged 54%, supported by strong digital sales in the UK, where over half of tickets are now sold online, and significant international growth, particularly in Spain.
Meanwhile, concerns are growing among UK employers about the impact of artificial intelligence on recruitment. A recent survey by the Institute of Student Employers found that around half of UK companies fear AI is distorting student applications, with candidates potentially misrepresenting their skills through AI-generated content.
This has sparked debate over whether AI use signals dishonesty or reflects evolving digital literacy. As AI becomes increasingly embedded in hiring processes, employers face the challenge of adapting recruitment methods to maintain fairness and accuracy.
Elsewhere, JD Wetherspoon reported a 5.6% rise in like-for-like sales, opening two new pubs and selling seven during the period, now operating 795 sites across the UK. BAE Systems also made a strong start to 2025, expecting up to 9% sales growth and a 10% rise in earnings this year.
These developments highlight a dynamic UK business landscape marked by innovation, growth, and the need to navigate emerging challenges such as rising costs and technological disruption.