UK unemployment rises while regular wage growth slows; bitcoin breaks $89,000 – business live

UK unemployment rises while regular wage growth slows; bitcoin breaks $89,000 – business live

Jobless rate rises to 4.3% while wage growth excluding bonuses is at a two-year low

Shares in the Irish support services firm DCC jumped after the company laid out plans for a break-up of the business to focus on its energy division.

DCC, which is headquartered in Dublin but listed on the FTSE 100 in London, hopes to capitalise on opportunities in energy transition such as biofuels, and announced plans to sell its healthcare division by 2025 and evaluate strategic options for its technology arm over the next two years.

We are announcing decisive actions today to simplify our group, pursue our largest growth and returns opportunity and unlock substantial shareholder value, from positions of strength. This aligns with our philosophy of disciplined capital allocation.

In the energy sector we are building a unique, multi-energy, sustainable business focused on supporting our customers with their energy transition. Our strategy will deliver strong profit growth, high returns and a significant reduction in our customers carbon emissions.

The merger is pro-competitive because we create a third scale operator that can compete with the big two (BT/EE and Virgin Media O2) already in the market.

Going forward, there will be more competition because there will be a third scale network capable of competing with these two.

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