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Evening Standard
Government borrowing hits higher-than-forecast £17.4bn in October
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.UK Government borrowing has surpassed forecasts on the back of soaring debt interest and recent public sector pay rises.Borrowing rose to £17.4 …
Business
Business Live
HMRC doubles amount it pays out in tax fraud tip-offs – but accountants say it needs to do more
HMRC has nearly doubled the amount it pays to informants, reaching a seven-year high. Freedom of Information data obtained by accountancy firm Price Bailey reveals that HMRC paid out almost £1m for tip-offs in 2023/24, a 92% increase from the £508,500 disbursed in 2022/23. The tax agency is actively working to reduce its £39.8bn tax …
Business
Sky News
Public sector pay rises help drive up government borrowing
Government borrowing rose to £17.4bn last month – the second highest October figure since monthly records began, official figures show.Economists had predicted £13.3bn of borrowing. The Office for National Statistics (ONS) said public sector net borrowing was £1.6bn higher than the same month last year.Figures also showed that central government debt interest rose to £9.1bn …
Business
Sky News
Water companies blocked from using customer cash for ‘undeserved’ bonuses
Nine water companies have been blocked from using customer money to fund “undeserved” bonuses by the industry’s regulator.Ofwat said it had stepped in to use its new powers over water firms that cannot show that bonuses are sufficiently linked to performance. The blocked payouts amount to 73% of the total executive awards proposed across the …
Business
Sky News
Google could be forced to sell its Chrome browser
Google must sell its Chrome browser to restore competition in the online search market, US prosecutors have argued.The proposed breakup has been floated in a 23-page document filed by the US Justice Department. It also calls for lawmakers to impose restrictions designed to prevent its Android smartphone software from favouring its own search engine.If the …
Business
Sky News
Ford plans to cut 4,000 jobs – including hundreds in UK
Ford has announced plans to cut 4,000 jobs across Europe – including 800 in the UK. The car manufacturer said the cuts were needed as part of plans to bolster its competitiveness amid the stuttering drive to an all-electric vehicle (EV) future that has hit sales. Ford said the cuts would take place over the …
Business
Sky News
Ford to cut thousands of jobs as industry frets over weak EV sales
Ford has announced plans to cut 4,000 jobs across Europe – including 800 in the UK – as the car industry frets over weak electric vehicle (EV) sales that could see firms fined more missing government targets.Nissan warned that the so-called mandates covering the sale of non-zero-emission cars risked “undermining the business case for manufacturing …
Business
Sky News
Another water company seeking to increase cost of bills announces profits worth millions
Another water company seeking to increase the cost of customer bills has reported increased profit and shareholder payouts.Severn Trent, the supplier to eight million people in Wales and the Midlands, booked £297.8m in pre-tax profit, £42.7m more than a year earlier. It wants to pay its shareholders 4.2% more than last year – 48.68 pence …
Business
Sky News
Tesco recalls popular dip due to salmonella
Tesco is recalling its own-brand tzatziki dip because salmonella has been found in the product. The supermarket giant has issued a warning to customers who have purchased the Tesco Tzatziki Dip 200g dipping pots with a use-by date of 24 November 2024. It said the presence of salmonella was found in the product during routine testing. …
Business
Business Live
Inflation hits 2.3% in October, driven by higher energy bills and housing costs
Inflation has once again surpassed the Bank of England’s two per cent target, according to the most recent data released today. The Office for National Statistics (ONS) reports that consumer price inflation (CPI) reached 2.3 per cent in October, exceeding economists’ predictions. Experts had anticipated a CPI of 2.2 per cent, a rise from September’s …
Business
Evening Standard
Lidl boss: Retailers are ‘reeling’ amid hit from Budget tax hikes
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.The boss of Lidl has said retailers are “reeling” from autumn Budget tax increases, which he said will add to inflationary pressures …
Business
Sky News
Latest inflation data will be cause for concern for rate-setters
Inflation is rising faster than expected, with the headline rate hitting 2.3% in October, higher than the 2.2% forecast by economists and above the Bank of England’s 2% target.How worried should we be? These figures are a world away from the double-digit levels of inflation we experienced in 2022, when the index peaked at 11.1%.Money …

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