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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 …
Business
Sky News
Pubs, clubs and bars could open for longer to celebrate King’s coronation
Pubs, clubs and bars in England and Wales could be allowed to open for longer to celebrate the King’s coronation.The government has said it will consult on extending licensing hours from 11pm until 1am on 5, 6, and 7 May across the Bank Holiday weekend. The Home Office said the move will provide “an opportunity …
Business
Evening Standard
Disruption warning as services restart after rail strike
Train passengers have been warned to expect “significant disruption” as services restart following 48 hours of strike action by rail workers.ScotRail ran services on only 12 routes in the central belt, Fife, and the Borders on Friday and Saturday after Rail, Maritime and Transport union (RMT) members at Network Rail walked out, following two days …
Business
Evening Standard
Unions claim troops not ‘sufficiently trained’ to cover for striking staff
Unions have lashed out at plans for the armed forces to cover for striking public sector workers in the run up to Christmas, claiming the military are not “sufficiently trained” to plug staffing gaps on the front line.The Government is deploying 1,200 troops from the Army, Navy and RAF to fill in for ambulance drivers …
Business
Evening Standard
Rail passengers hit by disruption on last weekend before Christmas
Train passengers are facing major disruption on the last weekend before Christmas as rail workers continue their 48 hour walkout.ScotRail is running only 12 services in the central belt, Fife, and the Borders after Rail, Maritime and Transport union (RMT) members at Network Rail walked out on Friday, following two days of strike action earlier …
Business
Evening Standard
Sunak scraps Truss taskforce aimed at striking long-term energy deals
Prime Minister Rishi Sunak has scrapped a taskforce launched by his predecessor to shore up the UK’s energy security by striking a series of long-term deals with gas suppliers.The Energy Supply Taskforce, announced by Liz Truss towards the beginning of her short tenure in No 10 as part of a package of measures to reform …
Business
Sky News
Goldman lures ex-Bank of England chief as international chair
The former head of the Bank of England’s governing body is to chair the bulk of Goldman Sachs’ operations outside the US – one of the most influential jobs at the Wall Street titan.Sky News has learnt that Sir Bradley Fried, who stepped down as chair of the Court of the Bank of England only six …
Business
Evening Standard
Chancellor to set out ‘more details’ on business energy support next week
Businesses will get an update next week on what help they can expect with sky-high energy bills once current support ends in the spring, a Cabinet minister has said.Business Secretary Grant Shapps said Chancellor Jeremy Hunt will make an announcement “very shortly”, with “more details” for firms, so they can have “a little bit more …
Business
Sky News
Sunak scraps Truss plan for state to buy energy from foreign producers
Rishi Sunak has abandoned his predecessor’s plan to intervene in global energy markets by spending billions of pounds on foreign gas imports.Sky News has learnt that Liz Truss’s Energy Supply Taskforce (EST), which was launched in September, is being scrapped. Headed by Madelaine McTernan, who was director-general of the government’s COVID-19 Vaccine Taskforce, the energy …
Business
Sky News
Rail workers strikes again as minister issues hope of end to industrial action
Rail workers have entered the second half of their latest 48-hour strike – as the business secretary says he is hopeful that a resolution can be found “sooner rather than later”.Grant Shapps was speaking to Sky News as members of the Rail, Maritime and Transport union prepared for another day of industrial action in their …
Business
Evening Standard
Avanti West Coast handed millions of pounds of taxpayer-funded bonuses – Labour
Avanti West Coast was handed millions of pounds of taxpayer-funded bonuses for a period in which it was Britain’s worst train operator for delays, Labour Party analysis shows.Shadow transport secretary Louise Haigh called the payments a “scandalous waste of taxpayers’ money” and a “symptom of a broken rail system”.Labour analysis of Department for Transport (DfT) …

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