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Evening Standard
Labour pledges to use state-owned investment fund to ‘build British industry’
A Labour government would set up a state-owned investment fund so the British state could invest directly in productive projects and create a return for taxpayers, the shadow chancellor has said.Ahead of her speech at the Labour conference, Rachel Reeves set out the party’s mission to “build British industry”, investing in national projects from battery …
Business
Evening Standard
Labour should be bold on energy policy, union boss says
A senior union leader has urged Labour to be more bold to press home the “clear blue water” that now exists between the party and the Government.Unite general secretary Sharon Graham spoke to union members in Scotland while Labour’s annual conference was being held in Liverpool.She said “trickle down” economics will fail, pointing to the …
Business
Sky News
Labour pledge to ‘build British industry’ through state-owned investment fund
Labour will pledge to “build British industry” through the use of a state-owned investment fund during the second day of the party’s conference in Liverpool.In her speech later today, Rachel Reeves, the shadow chancellor, will set out the party’s industrial strategy, which includes promises to invest in national projects from battery factories to clean steel …
Business
Sky News
Car dealer Pendragon gears up for £400m bid from top investor
Pendragon, the London-listed car dealer behind brands including Evans Halshaw and Stratstone, has received a fresh £400m takeover approach from its largest shareholder.Sky News has learnt that Hedin Group, which owns roughly 26% of Pendragon, has tabled a 29p-a-share offer for the company. The approach is expected to be confirmed in a stock exchange announcement …
Business
Evening Standard
SNP calls on Truss to match £500m Just Transition Fund
The SNP has urged Prime Minister Liz Truss to match Scotland’s Just Transition Fund in order to secure thousands of jobs in the North East.The party says it is time for the UK Government to “step up to the mark” amid the ongoing cost-of-living crisis, suggesting that a failure to do so is “extremely reckless”.The …
Business
Sky News
GSK poaches Burberry’s Brown to create all-female top team
GSK, the FTSE-100 pharmaceuticals giant, has poached Burberry Group’s finance chief to create a rare all-female executive leadership team in London’s blue-chip share index.Sky News has learnt that GSK could announce as soon as Monday morning that it has recruited Julie Brown to replace Iain Mackay, who has served as its chief financial officer since …
Business
Business Live
People on the Move: new appointments in the North East
Newcastle law firm Muckle LLP has appointed six new trainee solicitors, taking its total number of trainees to 13. The new intake of trainees will complete two years of training at Muckle, splitting their time into six-month stints across practice areas including corporate finance, commercial, property, employment, dispute resolution, banking, and construction. The new cohort …
Business
Business Live
New top team takes place at Newcastle tech accelerator Ignite
A business accelerator in the North East has appointed one of its former cohort members as its new CEO. Newcastle-based Ignite Accelerator – which was started by Tristan Watson and Paul Smith in 2011 – has announced that Jo York will be new CEO. Mr Watson will become chairman to support Ignite’s strategic direction. Ms …
Business
Business Live
Profits and turnover surge at Northumberland firm Simpsons Malt
A Northumberland malting company has reported big increases in turnover and profit after an acquisition boosted its earnings. Berwick firm Simpsons Malt has reported turnover of £214.2m in 2021, a big increase on the £123.5m reported a year earlier. For the same period, profit before tax went up from £4.7m to £7.1m. The financial year …
Business
Evening Standard
Government dismisses criticism of tax cuts as ‘politics of envy’
The Government is not concerned about the “politics of envy”, a Treasury minister said as its raft of tax cuts came under fire for disproportionately benefiting the rich.Labour accused Prime Minister Liz Truss and Chancellor Kwasi Kwarteng of gambling with people’s finances in “casino economics” and said their “trickle-down” approach will leave the next generation …
Business
Sky News
Hoseasons owner Awaze picks banks to oversee £2bn sale
The owner of Hoseasons and some of Europe’s biggest holiday rental operations has hired banks to oversee a sale that could value it at up to £2bn.Sky News has learnt that Platinum Equity, a US-based private equity firm, has appointed Goldman Sachs and Morgan Stanley to oversee a strategic review of Awaze, which it bought …
Business
Evening Standard
‘Only the very richest’ in Britain will see incomes grow, tax cut analysis says
The Chancellor’s huge package of personal tax cuts amid a cost-of-living crisis will do nothing to stop more than two million people falling below the poverty line, according to a think tank.Analysis of Kwasi Kwarteng’s fiscal statement by Resolution Foundation said “only the very richest households in Britain” will see their incomes grow as a …

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