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Evening Standard
Workers £11,000 worse off a year due to stagnant wages – Resolution Foundation
Workers are £11,000 worse off per year due to 15 years of wage stagnation, according to the Resolution Foundation.In new figures shared with BBC Panorama, the think tank calculated that, had wages continued to grow at the pace seen before the 2008 financial crash, the average worker would make £11,000 more per year than they …
Business
Business Live
CBI Wales appoints a new associate director
Business body CBI Wales has appointed Russell Greenslade as associate director. Mr Greenslade, who has been chief executive of Swansea Business Improvement District (BID) since 2009, will take up the role in June and support the work of CBI Wales director Ian Price. Mr Price said: I” am very excited to be working with Russell …
Business
Evening Standard
TUC: Tories have presided over longest and deepest squeeze of family budgets
Unions are accusing the Conservatives of presiding over the worst period for living standards in modern history.An analysis by the TUC suggested that by the end of this Parliament, household disposable incomes will have fallen for nearly half of the time the Conservatives have been in office.By the date of the next general election, household …
Business
Sky News
Virgin Orbit plans for insolvency amid rescue talks with investors
Virgin Orbit has begun drawing up detailed contingency plans for its insolvency days after halting its operations and furloughing its workforce.Sky News has learnt that the commercial space satellite venture founded by Sir Richard Branson‘s Virgin Group is working with Alvarez & Marsal (A&M) and Ducera, two restructuring firms, on fallback plans in the event …
Business
Sky News
Stocks sink further despite global central bank action to bolster lenders after forced takeover of Credit Suisse
Bank stocks have fallen sharply again across Asia and Europe despite a series of measures to ease the crisis of confidence gripping the sector.It was announced overnight, following the forced takeover of struggling Credit Suisse by Swiss rival UBS, that six major central banks, including the Bank of England, would take coordinated action to boost …
Business
Sky News
Stocks attempt fightback as frenzy over forced takeover of Credit Suisse subsides
Bank stocks are staging a fightback following sharp early falls across Asia and Europe in the wake of measures to ease the crisis of confidence gripping the sector.It was announced overnight, following the forced takeover of struggling Credit Suisse by Swiss rival UBS, that six major central banks, including the Bank of England, would take …
Business
Sky News
Swiss government to hold news conference on Credit Suisse after UBS takeover offer
The Swiss government will hold a news conference later after UBS made a takeover offer for embattled Credit Suisse, local media reports.The possible emergency rescue comes after the authorities raced over the weekend to secure the future of the 167-year-old bank, which is among the world’s largest wealth managers, in a move hoped to contain …
Business
Sky News
John Lewis may end 100% staff ownership to raise investment
The retail giant John Lewis may dilute its 100% employee ownership to raise fresh investment.The change to the partnership model would signal a major departure for the company, which runs the department store chain and Waitrose supermarkets. The firm warned of job cuts and told staff it will not hand out a bonus for only …
Business
Sky News
UK regulators back merger of banking giants Credit Suisse and UBS
British banking watchdogs have given their blessing to a takeover of Credit Suisse by its Swiss peer UBS, as financial regulators around the world race to contain the industry’s biggest crisis since 2008.Sky News understands that the Bank of England has indicated to international counterparts and to UBS that it will support the emergency transaction, …
Business
Evening Standard
John Lewis ‘may end 100% staff ownership’ after 70 years
The John Lewis Partnership is exploring a plan to change its staff-owned model as a way of attracting investment, it has been reported.The retail giant – which runs the department store chain and the Waitrose supermarket arm – last week cautioned over potential job cuts as it told staff it will not hand out a …
Business
Business Live
Major Swansea zip wire and cable car attraction to get £4m from Welsh Government
A major tourism project in Swansea, which is expected to create up to 100 full-time jobs, is set to receive a £4m investment from the Welsh Government. The Skyline tourism attraction, a zip wire and cable car attraction at the city’s Kilvey Hill, will be given the investment as a £3m grant plus £1m in …
Business
Business Live
Company behind The Naked Deli liquidated amid ‘restructure’ that will keep three cafes open
A founder of Newcastle healthy eating chain The Naked Deli has said the firm is undergoing a “restructure” in an attempt to recover from the pandemic. Three of the brand’s cafes will remain open, including its sites in Gosforth Shopping Centre, on Chillingham Road in Heaton and on Newcastle’s Grey Street. But a recently opened …

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