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Bargain Booze owner turns to CVA after impasse with landlords
Bestway Group, one of Britain’s biggest privately owned companies, is preparing to launch a formal financial restructuring process for its Bargain Booze and Wine Rack chains of off-licences.Sky News has learnt that the group has informed landlords about plans for a company voluntary arrangement (CVA) for its Bestway Retail arm. Property sources said the conglomerate, …
Business
Business Live
Sertec unveils fruits of £7m investment
A manufacturer has invested £7 million into its West Midlands base. Sertec, which is headquartered in Coleshill, specialises in making steel and aluminium components for vehicle bodies. It has now added a new machine press to its factory which it said would significantly boost production capabilities and create 15 new jobs. It has taken 18 …
Business
Sky News
Bank of England keeps ‘gradual’ cut prospects alive as interest rate held
The Bank of England has maintained its guidance for “gradual” interest rate cuts next year, following surprise support for a reduction this month.Its rate-setting committee, while deciding to keep Bank rate on hold at 4.75%, noted higher than expected wage rises and inflation despite a slowdown in the economy over the second half of the …
Business
Sky News
Full list of what water bills cost now – and how much they’re going up by in your area
The cost of water bills will go up in the next few years, the industry regulator Ofwat confirmed today.The average bill will go up 36% but how much extra billpayers will be charged depends on what part of England or Wales you live in, and which water company supplies you. The sums are below what …
Business
Sky News
Labour’s win was weaker than it seemed and a gobsmacking new migration record – 2024 in charts
What a year 2024 was.A massive election – well, two massive elections on either side of the Atlantic, and more elsewhere around the planet – followed by changes of government and plenty of economic milestones along the way. So let’s remind ourselves of some of the big moments of the year, in chart form. We …
Business
Sky News
Water bills to rise by average of 36% over next five years
Average water bills in England and Wales will increase by 36% over the next five years, the water regulator Ofwat has said. The rise is equivalent to an average extra cost of £31 per year. Water companies had asked for an average rise of 40%.The regulator’s draft determinations issued in July said bills would rise …
Business
Sky News
Tortoise thwarts eco-tycoon Vince with deal to buy The Observer
The Observer is to fall under the ownership of Tortoise Media, a fledgling digital start-up, in a binding deal signed after weeks of controversy about the fate of the world’s oldest Sunday newspaper.Guardian Media Group (GMG) and the Scott Trust announced on Wednesday morning that the title will be acquired by Tortoise, even as the …
Business
Sky News
Rent prices reach record high in England
English rent prices have reached another record high, growing by close to 10% in the past year, official figures show. The typical private rental price in England rose 9.3% in the year up to November, costing £116 more than 12 months earlier, according to the Office for National Statistics (ONS). English renters paid an average …
Business
Sky News
Is Rachel Reeves playing fast and loose with inflation?
Rachel Reeves has repeatedly told us that Labour will not play “fast and loose” with the public finances but is the government playing fast and loose with inflation?At 2.6%, the inflation rate is nowhere near the double-digit highs we saw in 2022 but it is still above target and is likely to stay above target …
Business
Business Live
Angry residents told their objections to controversial office-to-residential plans are ‘not applicable’
Residents living near the Sale Point office block in Sale have been told that their objections to its conversion into 80 apartments ‘are not applicable’. The locals, who live adjacent to the six-storey building on the A56 Washway Road – a key route from Altrincham into Manchester – argue that the development will exacerbate existing …
Business
Sky News
Inflation rises for second month in a row
Inflation has risen for the second month in a row, according to official figures. The overall rate of price rises – as measured by the consumer price index (CPI) – grew by 2.6% in November, a significant rise. It’s a further move away from the Bank of England‘s target 2% inflation rate after the rate …
Business
Sky News
Avanti West Coast staff to strike on New Year’s Eve
Avanti West Coast staff are set to strike after rejecting a deal aimed at resolving a dispute over rest day working. Train managers will strike on New Year’s Eve, 2 January and Sundays between 12 January and 25 May, the Rail, Maritime and Transport union (RMT) said. An RMT spokesperson said: “Our members have resoundingly …

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