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06.02.2023 - 10:49
Business
Sky News
Meal-kit delivery unicorn Gousto cuts valuation in latest funding
Gousto, the meal-kit delivery service, has cut its valuation after raising tens of millions of pounds in additional funding to steer it through a volatile economic period.Sky News has learnt that Gousto, which is backed by the celebrity fitness trainer Joe Wicks, tapped existing investors in recent weeks for $50m in the form of a …
06.02.2023 - 10:37
Business
Sky News
Bank of England rate-setter urges more hikes to avoid ‘policy boogie’
A member of the Bank of England committee that sets Bank rate has urged her colleagues to stay the course in the battle against inflation, warning against the prospect of a “policy boogie” ahead.Economist Catherine Mann, an external member of the nine-member monetary policy committee (MPC), used a speech in Hungary to make her case …
06.02.2023 - 10:27
Business
Business Live
Dragons’ Den reject Trunki sold off for more than £12m
Trunki, the children’s ride-on suitcase company famously rejected on Dragons Den, is being sold after 16 years in a deal expected to be worth more than £12m. The Bristol-based business was established by Rob Law, who pitched for £100,000 on the BBC panel show in 2006 but was turned down. In the years since, his …
06.02.2023 - 10:19
Business
Business Live
Practice becomes first vets in Wales to be employee-owned
A veterinary practice in Monmouthshire has become the first vets in Wales to go into employee ownership. Archway Veterinary Centre, which operates practices in Chepstow and Caldicot, is now owned by 26 of its staff after buying the business for an undisclosed amount. Andrea Reynolds, who has been one of the directors since 2011 and …
06.02.2023 - 10:03
Business
Evening Standard
Interest rates likely to need to rise again, warns Bank policymaker
Interest rates will likely need to rise further despite early signs of a “turning point” in the battle against sky-high inflation, according to a Bank of England policymaker.Catherine Mann, one of the nine interest rate setters at the Bank, said it was too soon to pause hikes in the Bank Rate, warning that there are …
06.02.2023 - 10:01
Business
Evening Standard
BoE rate-setter Mann: further interest rate hikes still more likely than not
A Bank of England Monetary Policy Committee member has said today that further interest rate increases are still more likely than not, after the bank raised rates to 4 per cent last week.Speaking at the Lámfalussy Lectures Conference in Budapest, Catherine L. Mann – one of the nine committee members who set UK interest rates …
06.02.2023 - 09:59
Business
Evening Standard
Dell to slash over 6,000 jobs amid slump in demand for PCs
Computer company Dell is to slash thousands of jobs as it wrestles with a downturn in demand for PCs.The Austin, Texas-based business is planning to reduce its workforce by 5%, according to reports by Bloomberg, representing a cut of over 6,500 jobs. The action makes Dell the latest IT business to shrink its workforce in 2023 following a spate of …
06.02.2023 - 09:53
Business
Evening Standard
Aussie firm lands Britishvolt after nod from Ian Botham
AN Australian start-up company today emerged as the preferred bidder for what is left of the collapsed electric vehicle firm Britshvolt.Britishvolt came with high hopes attached – it was supposed to be central to the UK’s electric car revolution with plans to employ 3000 in a gigafactory in Blyth.Amid funding problems, it failed last month, …
06.02.2023 - 09:53
Business
Evening Standard
Aussie firm lands Britishvolt after nod from Ian Botham
AN Australian start-up company today emerged as the preferred bidder for what is left of the collapsed electric vehicle firm Britshvolt.Britishvolt came with high hopes attached – it was supposed to be central to the UK’s electric car revolution with plans to employ 3000 in a gigafactory in Blyth.Amid funding problems, it failed last month, …
06.02.2023 - 09:49
Business
Sky News
BP’s annual profits hit record £23bn but firm scales back climate goals
BP has revealed it is to miss a key climate goal while announcing record annual profits.The London-based firm said its main earnings measure, underlying replacement cost profit, came in at $27.7bn (£23bn) for 2022. That is more than double the previous year’s sum despite weaker oil and gas costs knocking its performance in the final …
06.02.2023 - 09:42
Business
Evening Standard
City jobs boom defies talk of Brexit exodus
The City is defying predictions of a post Brexit jobs cull with last year seeing a record-breaking year for financial services jobs in England and Wales.While big banks have been cutting back on staff numbers due to a dearth of deal making and new stock market floats, demand for IT staff is booming.A review of …
06.02.2023 - 09:42
Business
Evening Standard
City jobs boom defies talk of Brexit exodus
The City is defying predictions of a post Brexit jobs cull with last year seeing a record-breaking year for financial services jobs in England and Wales.While big banks have been cutting back on staff numbers due to a dearth of deal making and new stock market floats, demand for IT staff is booming.A review of …
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