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Evening Standard
Criminals defraud taxman of £5 billion from pandemic support schemes
COVID support schemes offered by the government have been defrauded to the tune of £5 billion, official figures show.HMRC says it in its annual report that it estimates that 6.4% of the billions of pounds paid to companies to support furlough employees actually went to fraudsters.The tax authority believes that close to £350 million has …
Business
Evening Standard
British Airways owner IAG says return of US travel will help get it back to profits
British Airways owner IAG is banking on Monday’s “pivotal” USborder reopening to turbocharge its recovery and help fuel a return to profitability next summer after reporting further heavy losses. The group, which also owns airlines including Vueling, Iberia and Aer Lingus, today forecast a €3 billion (£2.6 billion) full-year loss, with passenger capacity expected to be …
Business
Business Live
70 jobs to be created as Euronics takes on new 125,000 sq ft South Yorkshire distribution site
A 125,000 sq ft warehouse unit on the M1 corridor at Barnsley has been bought, with 70 jobs to be created by leading electrical buying organisation Euronics. Bramall Properties brought forward Maple 125, a speculative development at Junction 36, in conjunction with Rula Developments and with the support of Enterprising Barnsley. Combined Independents (Holdings) Ltd, …
Business
Evening Standard
Bank 1, City 0: the ‘experts’ get it wrong on interest rates
Economics is called the dismal science for good reason – there aren’t too many laughs.There was one yesterday when the Bank of England surprised half of the market by keeping interest rates on hold rather than putting them up, as some economists and a whole load of other City commentators, had expected.How dare the Bank …
Business
Business Live
Belfast ecommerce fulfilment firm to quadruple headcount after £20M investment
A Belfast company which stores and delivers stock for online retailers said it is going to quadruple its headcount after securing £20 million investment. Selazar didn’t specify where the latest investment has come from but said earlier funders Foresight Group and Co-Fund NI, managed by local venture capital firm Clarendon Fund Managers, will sell their …
Business
Sky News
Fruit-picking robot-maker Dogtooth harvests backing from prominent investors
A fruit-picking robotics business which has seen growing demand as a result of labour shortages in the agricultural sector will next week unveil a multimillion pound fundraising involving prominent venture capital investors.Sky News understands that Dogtooth Technologies, which was founded in 2015 by Edward Herbert, Dr Duncan Robertson and Matthew Cook, has secured £7m in …
Business
Business Live
SPONSORED: Get your tickets for the 2021 Greater Birmingham Apprenticeship Awards
The 2021 Greater Birmingham Apprenticeship Awards are approaching, and tickets are available now. The awards – run in partnership with the Ladder For Greater Birmingham campaign and with Sandwell College as headline sponsor – will be held on November 11 at Edgbaston Stadium. For more information, or to get tickets, visit the official website – …
Business
Evening Standard
Co-op Bank boss: still on the hunt for merger deals
Co-op Bank today signalled it is still on the hunt for merger deals, a week after it was snubbed by the Spanish owners of TSB.Chief executive Nick Slape concedes the bank needs scale to compete with the high street giants and the new breed of fintech bank apps.“We have an organic plan that works,” he …
Business
Business Live
YMCA Plymouth calls on businesses to Pledge to Paint 1970s building
More than 20 businesses have already pledged to help spruce up Plymouth’s YMCA building – but even more are needed. The charity, thought to be the oldest in Plymouth, is calling for assistance from the business community during its Pledge to Paint weekend in April 2022. The centre, in Honicknowle, is undergoing a £1m renovation, …
Business
Business Live
Mascott Construction to begin refit of Belfast’s iconic Custom House
Work is to begin this month to refurbish and fit-out Custom House, one of Belfast’s most iconic listed buildings. It will be transformed into grade A office accommodation by Mascott Construction, with work set to be completed by June 2022. Custom House was acquired last year by Straidorn Properties, the property investment arm of local …
Business
Sky News
Peloton loses $8bn in value as it back-pedals on growth expectations
Peloton Interactive, the maker of connected fitness equipment including exercise bikes, has endured a bloodbath for its shares after a cut to its growth forecasts as gyms reopen following pandemic disruption.The company, which won big as COVID lockdowns forced fitness fanatics to stay home, slashed its full-year sales expectations by up to $1bn (£743m) on …
Business
Sky News
BA’s owner eyes transatlantic-driven recovery after peak summer season loss
The owner of British Airways has placed its hopes for a return to profitability on strong demand for transatlantic travel after posting a loss for its key summer season.International Airlines Group (IAG) said the gradual lifting of COVID-19 travel restrictions in key markets – culminating in the full reopening of the US travel corridor due …

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