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15.03.2023 - 14:11
Business
Sky News
Silicon Valley Bank UK chief abandons exit plan after £1 HSBC rescue deal
The chief executive of Silicon Valley Bank’s UK (SVB UK) arm has abandoned plans to leave the role following its £1 rescue takeover by HSBC.Sky News understands that Erin Platts, who has worked in the lender’s British operations since 2007, is to stay in her job following talks in the last 48 hours with Ian …
15.03.2023 - 14:06
Business
Sky News
Lifetime tax-free pensions allowance scrapped and free childcare boost in ‘back to work’ budget
Jeremy Hunt has abolished the lifetime tax-free pensions allowance and introduced free childcare for youngsters under three in a budget aimed at getting people back to work.The chancellor announced his plans on Wednesday to get older people back in work and to help parents, mainly women, who cannot afford to go back to work due …
15.03.2023 - 11:00
Business
Sky News
Stocks plunge again over Credit Suisse and rate rise worries putting focus back on health of European banks
Banking stocks are enduring fresh, steep losses on Wednesday as concern over the health of US banks crosses the Atlantic.Credit Suisse shares plunged to new record lows following comments by its largest investor that it could not provide the Swiss bank with more financial assistance. Switzerland’s second-largest bank, no stranger to crisis over the past …
15.03.2023 - 11:00
Business
Sky News
Bank stocks plunge further with Credit Suisse and rate rises in sharp focus
Banking stocks are enduring fresh, steep losses on Wednesday as concern over the health of US banks crosses the Atlantic.Credit Suisse shares plunged to new record lows – dropping by almost a third at one stage – following comments by its largest investor that it could not provide the Swiss bank with more financial assistance. …
15.03.2023 - 10:28
Business
Business Live
A low cost investment zone earmarked for Wales
The Welsh Government said it is progressing talks with the UK Government over creating a new low tax investment zone in Wales. In his Budget Chancellor Jeremy Hunt will confirm that 12 investment zones – each receiving funding of £80m over five years and nearly £1bn in total – will be established aimed at boosting …
15.03.2023 - 10:19
Business
Business Live
Work starts on £1.5m locomotive maintenance facility
Construction work has started on a £1.5 million locomotive maintenance facility in Leicester city centre which will eventually lead to new jobs on the site. Rail vehicle engineering and maintenance provider UK Rail Leasing Ltd (UKRL), is building the depot at its base alongside the mainline track off Beal Street, near St George’s Retail Park …
15.03.2023 - 10:05
Business
Sky News
Jeremy Hunt says economy will avoid recession in 2023 – with inflation set to plummet
Jeremy Hunt said the British economy is “proving the doubters wrong” and will avoid recession, as he delivered his first full budget speech to Parliament. The chancellor said the government’s plan for the economy was “working” as he announced what he called a “budget for growth”. Despite continuing global instability, the Office for Budget Responsibility …
15.03.2023 - 10:05
Business
Sky News
Economy to avoid recession and inflation set to plummet, says chancellor – but living standards will fall
Jeremy Hunt said the British economy is “proving the doubters wrong” and will avoid recession, as he delivered his first full budget speech to Parliament. The chancellor said the government’s plan for the economy was “working” as he announced what he called a “budget for growth”. He said forecasts from the Office for Budget Responsibility …
15.03.2023 - 10:03
Business
Business Live
Zero VAT call for solar-fed EV chargers from pioneering ecotech leader
One of Britain’s fastest growing companies is calling on the Government to “right a recent wrong” when it comes to helping the journey to Net Zero. Ecotech pioneer Myenergi wants to see a VAT exemption for solar-fed electric vehicle chargers in the Spring Budget. The Grimsby firm is behind the market-leading Zappi device, as well …
15.03.2023 - 09:57
Business
Business Live
Nissan ‘disappointed’ as credit rating downgraded by S&P
Automotive giant Nissan’s credit rating has been downgraded by global agency S&P amid concerns the manufacturer’s profitability will be weaker than previously thought. S&P moved the Japanese firm’s rating to BB+/Stable from BBB-/Negative for the first time in 21 years, saying Ebitda margin and sales volumes had both been weak over the past two to …
15.03.2023 - 09:55
Business
Evening Standard
‘This can’t go on’, says civil service union as staff walk out
A senior figure in the union representing civil servants has said “this can’t go on”, as staff walked out in their campaign for a pay rise.More than 130,000 members of the Public and Commercial Services (PCS) union are on strike across the UK on Wednesday, with thousands expected to take part in a rally in …
15.03.2023 - 09:32
Business
Evening Standard
Prudential backs London in boost to City
PRUDENTIAL, the mighty insurer founded in 1848, today insisted it would keep its stock market listing in London, in a boost to the City.With businesses large and small complaining that other stock markets, notably New York, offer higher valuations and more fluid access to capital, the Pru said it has “no plans” to leave London.That’s …
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