Here are the top business stories making the headlines in the morning newspapers.
High Street not dead
The new boss of Sports Direct has insisted the High Street isn't dead, with plans to open up to 10 new flagship stores across the UK.
Michael Murray has taken over from Mike Ashley - his future father-in-law - as chief executive of Frasers Group.
But in his first interview in the job, he told the BBC Mr Ashley was "not pulling the strings".
He also warned costs were "going through the roof", so the firm would probably have to put up prices.
US interest rate on way up
Jerome Powell has announced the biggest interest rate rise in 22 years and warned of further punishing increases to come as the US Federal Reserve battles to control rampant inflation in the world's largest economy.
The central bank raised the rate in America from 0.5% to 1% in its first increase of more than 0.25% since 2000.
Mr Powell, the Fed chairman, admitted that inflation is "much too high" and said that further 0.5% increases are likely to be needed within weeks.
The Telegraph says Wall Street surged as markets cheered Mr Powell's calming of nerves over a possible 0.75% rise, with the S&P 500 closing 3% higher in the biggest one-day jump since May 2020.
It comes as the Bank of England is expected to raise its own interest rate from 0.75% to 1% today.
Uber loses £4.7billion
Ride-hailing and delivery group Uber made a £4.7billion loss in the first quarter, mostly due to its stakes in other companies.
The US firm said almost all of the loss was a result of the fall in the value of investments in businesses including two Asian ride-hailing giants - China's Didi and south-east Asia's Grab.
Shares in Didi and Grab have plunged since listing in New York last year.
Despite the loss, Uber highlighted its progress in recovering from the impact of the pandemic.
World's most famous football shirt goes for more than £7million
Diego Maradona's "Hand of God" shirt has been sold for a record-breaking £7,142,500 after a two-week auction that saw the price almost double in the final nine minutes.
Despite the late Argentina icon's own daughter having disputed its authenticity, the jersey fetched more than £3million over the £4million reserve price, making it the most expensive item of sports memorabilia ever sold.
The Number 10 shirt, worn when Maradona scored twice in his country's famous 1986 World Cup quarter-final win over England, was auctioned by Sotheby's and attracted only one bid until 3.51pm on Wednesday.
The Telegraph says an Argentinian delegation consisting of Maradona's family, a memorabilia firm and the country's football association travelled to London in a bid to buy the shirt themselves amid anger it was being sold without their consent, but it was not known last night whether they had been successful.
Maradona's controversial "Hand of God" goal in the 51st minute was followed by a second four minutes later which is widely considered to be the greatest ever in which he dribbled past several England players before slotting the ball past Peter Shilton.
Lender says sorry after interest-rate blunder
Halifax has said sorry after it sent e-mails to customers incorrectly saying that the Bank of England had raised the interest rate.
The BBC says some mortgage customers received a message on Tuesday saying "the Bank of England base rate has changed today".
But the decision by the central bank on whether to raise interest rates is not due until today.
The lender followed up with a second e-mail later, apologising to customers for "any confusion" caused.
It added that the e-mail had been prepared in advance of today's decision by the Bank of England's monetary policy committee "so that in the event of a rise we could quickly advise customers and help them understand how that might affect their mortgage".