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Evening Standard
Serco hikes profit outlook once more as boss prepares to hand over the reins
Outsourcing giant Serco has hiked its profit outlook once again as the group said strong growth had helped more than offset a £480 million slump in Covid-19 contract revenues.The firm said it is now on track for full-year underlying trading profit of around £235 million, up £5 million on its previous guidance, with turnover set …
Business
Business Live
New creative industry hub to open in Birmingham
A new workplace hub for the region’s creative industry is set to launch in Birmingham early next year – in the former home of HP Sauce. Called ‘Creative Content Hub’, it will be housed in a warehouse complex in the Digbeth district after a wholesale renovation project completes. Oval Real Estate acquired The Bond Company …
Business
Sky News
Influencers who promoted stock on social media charged with $100m fraud scheme
Eight social media influencers who allegedly used their status to manipulate stock prices have been charged in a $100m (£81m) fraud scheme.The young men had a combined following of 1.5 million people on Twitter, and used it alongside messaging platform Discord to promote themselves as successful traders and encourage their fans to invest in selected …
Business
Business Live
Plymouth Marjon University to build ‘wellbeing community hub’ after being awarded £5.8m
Plymouth Marjon University has announced plans to build an ‘outpatient and wellbeing community hub’ after being awarded millions of pounds of funding from the Office for Students (OfS). The higher education institution was handed £5.8m from the independent regulator to develop the specialist facility on campus following a successful bidding process. The money from the …
Business
Evening Standard
Elon Musk sells $3.6 billion Tesla shares after wealth drops $109 billion since January
Elon Musk has sold another big tranche of Tesla shares for the fourth time in a row in 2022 as the billionaire has seen his wealth plummet over $109 billion since January,The Tesla boss sold about $3.6 billion in Tesla shares earlier this week, regulatory filings published this morning show, taking the total sold this …
Business
Evening Standard
Chancellor ‘mooting plans to extend energy support for all firms’
Chancellor Jeremy Hunt is reportedly considering plans to keep energy bill support in place for all UK companies after the current scheme closes, in what would mark a U-turn on aims to target only the vulnerable sectors.The Government is looking at extending the support past March, but with capped power prices at a lower level …
Business
Evening Standard
Currys sinks to loss after international rivals slash prices
Technology retailer Currys has sunk to a loss after lower demand left competitors with excess stock, leading to heavy discounting across rival stores.However, profits in the UK and Ireland have bucked the trend as it said it was on track to make £300 million in cost savings across the region.Adjusted earnings reached £25 million in …
Business
Sky News
Currys hurt by overseas discounting as it cuts annual profit outlook
Electricals retailer Currys has cut its annual profit outlook after diving into the red during the first half of its financial year.The UK-based group, which has more than 800 stores alongside its online operation, reported an adjusted pre-tax loss of £17m for the six months to 29 October compared to a profit of £48m a …
Business
Business Live
East Midlands business activity sees solid decline in November
Business activity in the East Midlands continued to fall in November, with new orders down and costs up, according to NatWest. The bank’s monthly survey of industry leaders suggests the region also saw the first recorded decrease in employment since January 2021 – echoing latest Government figures – which was put down to growing redundancies …
Business
Sky News
Interest rate increased by 0.5 percentage point in ninth consecutive rise
The Bank of England has revealed a 0.5 percentage point interest rate increase – its ninth consecutive rise as it maintains its battle against inflation. The decision, by its monetary policy committee (MPC), took the bank rate to 3.5%.- a fresh high not seen since the 2008 financial crisis. The move, however, represented a slowdown …
Business
Sky News
Airport security rules on liquids and laptops to be relaxed
The rules limiting the volume of liquids allowed on planes and requiring electronics to be taken out of hand luggage in security are to change.The government has set a deadline of June 2024 for major UK airports to install new security technology, which will make obsolete the rule to bring no more than 100ml of …
Business
Sky News
US interest rates set by Federal Reserve rise to their highest since 2007
US interest rates are now at their highest since the global financial crisis as the US central bank has again imposed an increase as it seeks to lower inflation. The Federal Reserve, known as the Fed, has imposed a 0.50 percentage points rise in interest rates. The widely-expected rise will mean more expensive borrowing for …

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