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07.10.2022 - 11:26
Business
Sky News
BoE rate-setter’s vow on inflation fails to help stricken pound for long
The pound’s value ebbed and flowed on Friday – supported by a Bank of England deputy governor’s vow to persist in the fight against inflation but later hammered as stronger than expected US jobs data lifted the dollar.Remarks by Sir Dave Ramsden, a member of the monetary policy committee (MPC) which sets Bank rate, helped …
07.10.2022 - 10:35
Business
Business Live
Redundancies to be made at Port of Liverpool as owner blames ‘economic backdrop’
Redundancies are to be made at the Port of Liverpool after its owner said the “marked deterioration” in the volume of containers it handles had made the move “extremely regrettable but now unavoidable, given the economic backdrop”. Peel Ports said the redundancy consultation process will start next week as it restructures its containers division. The …
07.10.2022 - 10:28
Business
Business Live
The story of Wales’ own oil company and plans to go green
It’s the biggest independent oil firm in Wales with annual revenues of £115m and a nationwide network of forecourts and depots. Now founder of Oil 4 Wales, Colin Owens, says the company is looking to transition away from fossil fuels as it seeks a greener future in light of climate change. Colin, 71, first set …
07.10.2022 - 10:20
Business
Business Live
Newcastle “rage” and escape rooms business up for sale with £30k price tag
A “rage room” business where punters can relieve the stresses of day-to-day life by smashing items such as TVs, laptops and glass bottles is on the market just months after it was set up. Smash Space UK, on Newcastle’s Scotswood Road, launched last year after 23-year-old Andy Reynolds saw the opportunity to bring the concept …
07.10.2022 - 10:02
Business
Business Live
CPMG Architects helping design the vast ‘Dragon Valley’ resort near Shanghai
Nottingham-based CPMG Architects is working on the latest phase of a big leisure resort west of Shanghai. The practice‘s international base in Hangzhou, China has been working on the Inlong Narada resort since the masterplan stage in April, after being brought in by the site’s hotel operator Narada. The 530 acre site, two hours from …
07.10.2022 - 09:57
Business
Business Live
Direct US and Middle East flights to Northern Ireland targeted under proposed airline funding scheme
Direct long haul flights from Northern Ireland to the US and Middle East are the target of an “unprecedented” government funding scheme designed to encourage airlines to trial long haul routes from the province. Economy minister Gordon Lyons said officials in his department are working on developing a new Northern Ireland Route Development Scheme (NIRDS) …
07.10.2022 - 09:26
Business
Evening Standard
Minister suggests the King can decide to attend Cop27 if he wishes
A minister has suggested the King can make his own decision on whether to attend an international climate conference in Egypt, amid reports that the Prime Minister advised the monarch not to attend.Liz Truss reportedly objected to King Charles III attending Cop27, due to take place in Sharm el-Sheikh next month.Speaking during a series of …
07.10.2022 - 09:20
Business
Evening Standard
Superdry back in profit as shoppers return to the high street
London needs more tourists – but Superdry is back in the black.So says CEO Julian Dunkerton, who hails today’s success as one of the best post-Covid turnaround stories going.“All territories are really positive. We are feeling good about life,” he said. Crossrail will soon open a station near his flagship Bond Street store, something promised …
07.10.2022 - 09:14
Business
Sky News
Company insolvencies at highest level since 2009 as energy bills bite
The number of company insolvencies in England and Wales hit its highest level for 13 years in the second quarter of the year, according to official figures.The Office for National Statistics (ONS) recorded a total of 5,629 business failures between April and June. It was the highest quarterly number since the third quarter of 2009.Construction, …
07.10.2022 - 08:44
Business
Evening Standard
Government not advising people to reduce energy use, says minister
The Government is not telling people to reduce overall energy consumption, a minister has said, but he refused to rule out rationing.Climate minister Graham Stuart said rather than looking at reducing overall use, the Government is supporting the energy regulator to devise solutions to provide incentives for businesses and consumers to potentially cut peak-time energy …
07.10.2022 - 08:40
Business
Evening Standard
How did gilts take us so close to catastrophe?
“Here is something you don’t really understand. It will increase your returns while reducing the risk”. This, in a nutshell, is the cause of last week’s near-catastrophe in the gilts market. As a piece of financial prestigidation, Liability Driven Investing (LDI) is right up there with the raft of other initials which somehow offer this …
07.10.2022 - 08:28
Business
Evening Standard
Avanti West Coast given short-term contract renewal by Government
Troubled rail firm Avanti has been given a six months’ stay of execution and ordered to “drastically” improve services on the West Coast Main Line.The Department for Transport had come under pressure to strip Avanti of the UK’s flagship franchise – which links London with Birmingham, Manchester, Liverpool and Glasgow – after it cut services …
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