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Sky News
Bank of England resists pressure to raise interest rates as inflation spike looms
The Bank of England has surprised investors and economists by leaving interest rates on hold at 0.1% for at least another month.However, the Bank used its quarterly Monetary Policy Report to signal that it was likely to increase borrowing costs in the “coming months”. The decision pushed the pound lower by more than a cent …
Business
Sky News
Pound plunges as Bank of England resists pressure to raise interest rates
The Bank of England has surprised investors and economists by leaving interest rates on hold at 0.1% for at least another month.However, the Bank used its quarterly Monetary Policy Report to signal that it was likely to increase borrowing costs in the “coming months”. The decision pushed the pound lower by two cents against the …
Business
Business Live
Movers and shakers: A bumper round-up of appointments from across Staffordshire
Mortgage expert My Simple Mortgage has expanded its service offering with the recruitment of experienced financial services manager Tony Currie. The Basford business has added a protection department to its portfolio after recruiting Tony to its now 11-strong team in a new business development manager role. Tony, who lives in Nantwich, has been working in …
Business
Business Live
COP26: Bristol needs £9bn to become net zero and businesses
Businesses in the West will benefit from the investment and business opportunities associated with achieving the net-zero targets being discussed at COP26 in Glasgow this week. Working with the other major cities in the UK we have formed the UK Climate Change Investment Commission to quantify and promote investment in UK city decarbonisation. Yesterday I …
Business
Business Live
Fast fashion giant Boohoo ‘close to agreeing’ settlement in US class action
Fast fashion giant Boohoo has announced it is close to agreeing a settlement regarding a class action about misleading customers on pricing. The Manchester-headquartered listed group has responded after a case filed in California alleged that Boohoo had offered large discounts to US customers based on inflated original prices. The case file also alleged Boohoo …
Business
Evening Standard
BT leads Britain’s ultra-fast internet drive and brings back dividend
BT said today it is powering through the laying of ultra-fast wi-fi cables hitting six million premises in total after a record six months.That leaves it on track to have a full-fibre network spanning 25 million premises by 2026, something chief executive Philip Jansen insists will be a result for shareholders and for the nation.It …
Business
Evening Standard
Bank of England preview: MPC could start raising interest rates today
Is the Bank of England poised to move interest rates up for the first time since August 2018?The market betting on whether it will do so today is split nearly exactly 50:50.A few weeks back is seemed nailed on that rates would go from 0.1% to 0.25%.Banks had already pulled their cheapest fixed rate mortgage …
Business
Sky News
JD Sports fury as regulators order chain to sell Footasylum
JD Sports has reacted angrily after a final ruling from the competition watchdog that it must sell the Footasylum chain bought for £90m in 2019.The Competition and Markets Authority (CMA) revealed its decision following a protracted investigation that saw JD appeal an original finding that it must offload the sportswear brand over fears it could …
Business
Sky News
Sainsbury’s warns of price pressures as Argos suffers supply chain woes
Sainsbury’s has declared it is in a “good position” for Christmas despite supply chain disruption across the UK that, it admitted, had contributed to lower sales at its Argos operation.The UK’s second-largest supermarket chain also warned that price pressures were building as a result of the challenges while reporting bottom line pre-tax profits of £541m …
Business
Sky News
Sainsbury’s warns of price pressures and consumer electronics shortages ahead of Christmas
Sainsbury’s has declared it is in a “good position” for Christmas but admitted its Argos operation is bearing the brunt of global supply chain disruption, with consumer electronics facing a festive squeeze.The UK’s second-largest supermarket chain also warned that price pressures were building as a result of the supply challenges while reporting bottom line pre-tax …
Business
Sky News
Why a modest rate hike still looks likely – but is not a foregone conclusion
The last time the Bank of England raised interest rates, Theresa May was prime minister, Jeremy Corbyn was leader of the opposition, Britain was still in the EU and coronavirus was a term known only to virologists.This week, however, the bank’s monetary policy committee (MPC) may raise – albeit very fractionally – its key policy …
Business
Evening Standard
Next on track for £800m profits but warns on Christmas slowdown
NEXT reinforced its status as the King of the High Street today, with booming sales that leave it on track for year-end profits of £800 million.But it had some words of caution on supply chains and Christmas demand that sent retail shares wobbling.The pent-up demand that has seen retailers bounce back post lockdown is “likely …

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