profit

Some changes are being phased in over time, it said, while some companies are accepting smaller profit margins for now.

The halt in production had hit profits by about £120m already, and £1.7bn in lost revenue, according to David Bailey, Professor of Business Economics at the University of Birmingham.

He said "large profits" were expected to be made by the gang with the operation running on a "commercial scale".

Big profits haven’t seemed to be the driving force yet in the Ryder Cup, but like everything else in sports, that is likely to change.

She said about £7bn a year could be extracted by the end of the decade by taxing what she described as unexpected profits the banks had made as a result of high interest rates.