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Evening Standard
Chancellor cuts red tape and axes EU rules in UK banking overhaul
The Government has launched a raft of major reforms to the financial sector to replace EU regulation and cut red tape.Chancellor Jeremy Hunt said the so-called “Edinburgh Reforms” will seize on “Brexit freedoms” to overhaul banking rules, with changes including a review of accountability rules for bankers and easing capital requirements for smaller lenders.The package …
Business
Evening Standard
10-year-old wins Big Issue Christmas cover design contest
A 10-year-old boy has won this year’s competition to design the Christmas cover of the Big Issue with his colourful picture of a snowman dressed as one of the magazine’s vendors.Judges praised Fergus Rutherford-Moyler from Glasgow for his collage of a snowman dressed in the famous red Big Issue tabard and cap, with a Big …
Business
Sky News
Watchdog warning over passport delays as demand set to be high again next year
About 360,000 UK citizens were waiting more than 10 weeks for a passport this year – despite a record number of applications being processed – as staffing problems and system difficulties caused delays.A report from the National Audit Office (NAO) into the delays at His Majesty’s Passport Office (HMPO) found they were caused by recruitment …
Business
Sky News
Chancellor to announce major reforms for UK’s financial sector in quest to ‘turbocharge’ growth
Chancellor Jeremy Hunt will launch a major reform of the UK’s financial sector, with plans to rip up red tape and replace a number of EU regulations.Mr Hunt said the changes, to be announced in Edinburgh later, will “turbocharge” growth as the country struggles with a sluggish economy and a cost of living crisis. He …
Business
Sky News
Former employees sue Twitter, claiming more women have been laid off than men
Two women who lost their jobs at Twitter after Elon Musk took over are suing the company, claiming recent lay-offs disproportionately affected female employees.About half the social media network’s workforce were let go early last month after Mr Musk bought the company for $44bn. He subsequently told those remaining that they would need to work …
Business
Sky News
Royal Mail worker fears thousands face sack after Christmas as first of six days of strikes begins
A striking Royal Mail worker has voiced fears up to 25,000 staff could be sacked and new working conditions imposed on those left after the core Christmas season has finished.The man, who usually delivers letters and parcels in the London area and is being identified as ‘Derek’ because he wished to remain anonymous, was speaking …
Business
Sky News
Six water companies ‘falling short’ in key areas including sewage
The water regulator has identified six water companies which it says are “falling short” in “too many areas” including sewage discharge.Ofwat said it was “deeply concerned” that Northumbrian Water, Southern Water, South West Water, Thames Water, Welsh Water and Yorkshire Water were lagging behind expectations. Its annual assessment of company operational performance and financial resilience …
Business
Sky News
Frasers boss Murray takes Mike Ashley’s business in more aspirational direction
Ever since he became chief executive of Frasers Group – the retail combine controlled by Mike Ashley that owns names like Sports Direct, Evans Cycles, Flannels, Game and House of Fraser – Michael Murray has had to put up with suggestions that he is not his own man and that Mr Ashley is really pulling …
Business
Sky News
Rents up as house prices fall, profits for Sports Direct owner and how Uber’s helping veterans into work
A look at house prices as they see their most widespread fall since May 2020, while rents are likely to continue to go up.Plus, Ian King talks to the chief executive of Frasers Group after the Sports Direct owner saw a jump in profits, bucking the downturn in retail sales.And the head of Uber UK …
Business
Business Live
Plans unveiled for over 400 new homes to be built at old quarry site
Plans for more than 400 new homes to be built at an old quarry site in Rhondda Cynon Taf have been unveiled. The housing is part of plans by Newport housing association Pobl Group to build a mixed-used low-carbon development at the disused Hendy Quarry near Pontyclun. The mixed tenure development at the 22 hectare …
Business
Business Live
Tax and pensions specialist Westbridge Group buys out competitor which has almost 100 staff
A Leicestershire tax and pensions specialist has bought out a competitor which has almost 100 staff. WestBridge Group has acquired the staff, clients, and assets of Rowanmoor Executive Pensions Ltd (REPL) and its book of 3,500 small self-administered schemes (SSAS). The deal was done for an undisclosed sum. It is the second big acquisition by …
Business
Sky News
Elizabeth Holmes’s former partner to join her in jail over Theranos scandal
The ex-partner of disgraced Theranos founder Elizabeth Holmes has joined his accomplice in being sentenced to more than a decade in prison.Ramesh “Sunny” Balwani was jailed for almost 13 years for his role in the company’s blood-testing hoax, which saw investors conned and patients put at risk as the pair enjoyed a life of fame …

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