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Mining firm Tungsten West boosts ore and mineral reserves at Plymouth mine
Mining company Tungsten West has boosted ore and mineral reserves at its Hemerdon mine near Plymouth, it has announced. The AIM-listed firm, which is looking to restart production at the site next year, provided the update to investors on Monday (December 19) as part of a feasibility study. The business said it had seen a …
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Business Live
Blackburn Rovers owner makes first profit in 10 years
The owner of Blackburn Rovers made its first pre-tax profit in 10 years after the Championship club sold its training ground, it has been revealed. Venkys London Ltd has reported a pre-tax profit of £2.6m for the 12 months to March 31, 2022, up from a loss of £21.4m in the prior year. Venky’s London …
Business
Business Live
North East tech innovator Kromek seals new deal with US giant Smiths Detection
North East tech innovator Kromek has sealed a new deal with a US supplier of security screening equipment. The NET Park based business, which develops and manufactures radiation and bio-detection technology solutions, announced a new distribution agreement with Smiths Detection, a global leader in threat detection and security screening technologies. Under the terms of the …
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Business Live
Former Ladbrokes and Greene King finance chief to step down as Lookers chairman
The former finance chief of Ladbrokes and Greene King is to step down as chairman of car retail giant Lookers for personal reasons. Ian Bull will leave his role on December 31, 2022, having held the position since October last year. During his career he has also served as chief financial officer at Parkdean Holidays …
Business
Evening Standard
‘UK recession to last until end of next year’
The UK economy is on track to shrink by 1.3% in 2023 amid a recession which is set to last until the end of next year, according to a new economic forecast.Economists at KPMG have predicted that the UK has already entered a “shallow but protracted” recession amid continued inflation and higher interest rates.Yael Selfin, …
Business
Sky News
Elon Musk to quit as Twitter boss – if he abides by poll he launched himself
Elon Musk will step down as Twitter boss – if he stands by his pledge to abide by the results of a poll asking users for their verdict on his tenure.The owner of Tesla and SpaceX set his poll in motion just after 11pm UK time, writing: “Should I step down as head of Twitter? …
Business
Sky News
UK power stations owner Uniper eyes ‘possible insolvency’ without £44bn state bailout
Uniper, the crisis-hit German gas trader that owns seven UK power stations, has warned shareholders it faces “possible insolvency” unless they back an additional state bailout worth more than €50bn (£44.6bn).Chief executive Klaus-Dieter Maubach told investors ahead of a crucial vote on Monday that they risked losing their entire investments in the company if they …
Business
Evening Standard
Retailers braced for ‘subdued’ build-up to Christmas
Retailers are braced for a subdued last few days of build-up to Christmas as households bear the brunt of energy and economic shocks.Analysts Springboard said the declines from month to month from September to November and then just a modest predicted rise this month would eradicate the gains made over much of this year.Diane Wehrle, …
Business
Evening Standard
Union accuses Co-op of ‘Scrooge-like attitude’ as coffinmaker dispute continues
A dispute at the only coffinmakers for one of the country’s biggest funeral directors is set to stretch into the new year.Unite members at the Co-operative Funeralcare factory in Govan have been in a long-running dispute over pay, with a four-day walkout due to start on Monday.The union’s industrial officer, Willie Thomson, accused the company …
Business
Evening Standard
Sales jump at Ikea as customers return to shops despite price increases
Ikea has revealed that sales jumped over the past year due to customers returning to its shops and price increases in the face of cost inflation.The Swedish furniture retailer revealed that total sales grew by 13% to £2.2 billion over the year to August 31, compared with the same period last year.Peter Jelkeby, country retail …
Business
Sky News
Building firms going bust at fastest rate since financial crisis
Construction businesses are going bust at their fastest rate in a decade, driving the number of company insolvencies to its highest level since the financial crisis.Rising material costs, staff shortages and plummeting consumer demand are weighing on businesses, forcing them to squeeze their margins to unsustainable levels. Official figures show that in the second quarter …
Business
Business Live
Cascade to cash in on growth with £150,000 investment from NEL Fund Managers
A North East cash management firm set up by the founders of start-up bank GB Bank has secured a six-figure deal to fuel the next stage of its development. Cascade Cash Management is the UK’s first cloud-based savings platform and provides savers with direct access to all accounts and all providers on the market. The …

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