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Sky News
CBI members warn of new exodus amid manufacturing tie-up talks
Some of the CBI’s remaining members are warning that they will terminate their association with the crisis-hit lobbying group if it cements a full merger with Make UK, the manufacturers’ trade body.Sky News has learnt that a number of individual company members and trade associations are discussing ending their memberships if the tie-up goes ahead. …
Business
Sky News
Eurozone increases interest rate for 10th time in a row – hitting a record high
The European Central Bank’s main interest rate has hit its highest level since the creation of the euro in 1999 amid the continuing battle against inflation.The Bank’s deposit rate was raised by 0.25 percentage points to 4% at the latest meeting of the governing council, which manages monetary policy for the 20 countries that use …
Business
Sky News
Wilko brand to live on – and some jobs saved – as rival retailer strikes deal
The brand of collapsed value retailer Wilko is to live on, it has been confirmed, and some job losses have been prevented through a deal struck by administrators.Rival discount chain The Range has bought the Wilko brand, its website and retained the company’s digital trading team which comprises 36 members of staff. The sum was …
Business
Sky News
John Lewis transformation to take two more years
The John Lewis Partnership (JLP) has revealed its transformation plan will take two more years to complete than expected, while revealing a drop in losses over the first half of its financial year.The employee-owned company, in which staff are known as partners, said that a combination of higher costs due to inflation and a need …
Business
Sky News
Shares in UK-based Arm Holdings soar on Nasdaq debut
Shares in UK-based chip designer Arm Holdings have soared after the firm made its Nasdaq debut on Thursday.The firm’s stock opened at $56.1 (£45.2) per share – 10% above the initial public offering (IPO) price of $51 (£41). Arm, which is still 90.6% owned by Japan’s SoftBank Group, had earlier secured a valuation of $54.5bn …
Business
Euro News
Shoplifting surges in UK as retail workers face rise in violence and abuse
Business
Euro News
Sandal maker Birkenstock next European company to file for Wall Street listing
Business
Euro News
ECB criticises Italy’s bank windfall tax plan
Business
Sky News
The Range strikes £5m deal to buy collapsed Wilko’s brand
The Range, the value retail chain, has struck a deal to buy the Wilko brand from its collapsed rival’s administrators.Sky News has learnt that The Range, founded and owned by Chris Dawson, has agreed to pay in the region of £5m for the Wilko name. The deal is expected to be announced later on Wednesday.It …
Business
Sky News
Four people face fraud charges over collapse of Patisserie Valerie
Four people have been charged in connection with the collapse of Patisserie Valerie – a bakery chain that once had almost 200 stores.The Serious Fraud Office (SFO) said it related to an investigation that began in October 2018 – just two days after the company abruptly suspended trading, with more than 900 jobs and 70 …
Business
Euro News
African Union to create own credit rating agency
Business
Business Live
Bristol-based complete construction partner Stepnell sees profits hit £1m
Bristol-based complete construction partner Stepnell has seen its profits reach over £1m. In its 2022/23 financial results the firm said it had secured 80% of its 2023/24 planned revenue budget, citing frameworks and repeat work as the main sources of procurement, including the SCAPE Regional Construction framework and Southern Construction Framework (SCF). Despite a “universal …

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