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Evening Standard
Saga in talks to sell insurance underwriting arm
Over-50s group Saga has confirmed talks to sell the underwriting arm of its insurance division to help pay down its debts.The holiday and financial services firm said it was in discussions over a possible sale of Acromas Insurance Company, which underwrites around 25% to 30% of its insurance business.Reports at the weekend suggested Saga was …
Business
Business Live
South West firms entering administration leap by half
The number of South West companies collapsing into administration in 2022 jumped by more than half as rising inflation, weaker trade and geopolitical uncertainty continued to put businesses under pressure. A total of 100 companies in the region fell into administration last year – up from 64 companies in 2021 – analysis of notices in …
Business
Evening Standard
Funeral firm Dignity swept up by investors in £281m takeover deal
Funeral firm Dignity has been swept up by a group of investors linked to its former chief executive in a takeover move worth around £281 million, as it cautioned investors over tumbling profits.A bidding consortium consisting of SPWOne V Ltd and Castelnau Group, whose investment manager is Phoenix Asset Management Partners, made a final offer …
Business
Evening Standard
Fuller’s issues warning over earnings after train strike hit
Pub group Fuller’s has warned over annual earnings after train strikes left it nursing a sales hit of around £4 million and impacted its festive trading.The group said sales in the four weeks over Christmas and new year fell 5% compared with the same period in 2019 before the pandemic struck.It blamed the drop on …
Business
Sky News
Pub chain blames train strikes for £4m sales hit
A leading pubs and hotels operator has warned investors it is expecting annual earnings to come in below market expectations, claiming that train strikes have taken the gloss off its performance.Fuller, Smith & Turner (FS&T) estimated it had lost £4m in sales due to the strike action since last autumn – denting its momentum despite …
Business
Sky News
Business chief urges green growth to boost economy as forecast warns of deeper recession
Britain’s biggest employers’ group is urging the government to take “big decisions” on boosting growth as a prominent forecaster warns that the country may be facing a deeper recession than it had expected.Chief executive of the Confederation of British Industry (CBI) will use a speech on Monday afternoon to demand the chancellor reverses “the UK’s …
Business
Sky News
Tonight people will be paid to turn off their appliances – here’s why
Some households with smart meters could be eligible for discounts if they cut their use of electricity between 5 and 6pm today.The National Grid ESO (electricity system operator) is, for the first time, activating the “demand flexibility service (DFS)” – which allows it to access additional flexibility when national demand is at its highest during …
Business
Sky News
People will be paid to turn off their appliances today and tomorrow – here’s why
Plans for energy companies to offer people discounts for cutting their electricity usage have been extended into tomorrow. Some households with smart meters could be eligible for the reductions if they save energy between 5pm and 6pm on Monday, and between 4.30pm and 6pm on Tuesday. For the first time, the National Grid ESO (electricity …
Business
Sky News
People will be paid to turn off their appliances today – here’s why
Plans for energy companies to offer people discounts for cutting their electricity usage have been extended. Some households with smart meters were eligible for the reductions if they saved energy between 5pm and 6pm yesterday – and this will also apply between 4.30pm and 6pm today. For the first time, the National Grid ESO (electricity …
Business
Sky News
Former Virgin Money chief Gadhia lands new role as Moneyfarm chair
The bank executive who helped to transform Virgin Money into one of Britain’s biggest high street lenders has landed a role at the helm of a British-based digital wealth manager.Sky News understands that Dame Jayne-Anne Gadhia will on Monday be unveiled as chair of Moneyfarm. Dame Jayne-Anne’s appointment will ignite speculation that Moneyfarm, which is …
Business
Sky News
Pet food retailer hits out at Royal Canin’s ‘excessive’ price rises – and offers customers 10% off rivals
An online pet food retailer has hit out at one brand’s “excessive” price increases, and instead offered customers 10% off its competitors.Customers have been reporting steep price increases across a number of items from Royal Canin – with one saying her food had increased by £15 for a 10kg bag in less than a year. …
Business
Evening Standard
Shapps demands energy firms halt forced fitting of prepayment meters
The Business Secretary has demanded that energy suppliers stop forcing financially stretched households to switch to prepayment meters.Grant Shapps has also vowed to “name and shame” the worst offenders.He has written to companies demanding they voluntarily end the practice of forcibly moving households on to more expensive pre-paid energy tariffs, the Department for Business, Energy …

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