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Sailing yachts like Mike Lynch’s are ‘unsinkable’, CEO of boat firm says
Vessels like Mike Lynch’s stricken superyacht are “unsinkable”, according to the chief executive of the firm which makes and sells them.Giovanni Costantino, CEO of The Italian Sea Group, told Sky News there are no flaws with the design and construction of the Bayesian superyacht which capsized in a storm off the coast of Porticello, Sicily, …
Business
Evening Standard
Tax rise fears grow after unexpected borrowing surge
Fears that Rachel Reeves will be forced to raises taxes in her first Budget this Autumn rose on Wednesday when official figures showed the Government borrowed billions of pounds more than forecast last month.The Office for National Statistics (ONS) said the Treasury had to borrow £3.1 billion in July to keep the wheels of Government …
Business
Business Live
Waitrose to open 100 new stores in ‘biggest period of expansion’
Waitrose, the premium grocer, has announced plans to increase its store portfolio by approximately a third over the next three years. This move is part of one of its “biggest periods of expansion”, with a particular focus on ‘Little Waitrose’ convenience shops. The company, headquartered in Berkshire, will invest more than £1bn in a project …
Business
Evening Standard
Costain cheers water contract boost as it ups shareholder returns
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.Construction group Costain has unveiled a £10 million share buy-back as it saw half-year profits leap higher and cheered a boost from …
Business
Evening Standard
FTSE 100 falls after blue-chips including BT, Shell and BP slide
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 FTSE 100 lost ground on Tuesday, pushed down by sharp falls across constituents including BT, plus energy giants Shell and BP.The …
Business
Evening Standard
Higher bus fares help lift earnings for National Express owner Mobico
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.National Express owner Mobico has said an increase in passengers and a jump in bus fares helped drive higher sales in the …
Business
Evening Standard
Waitrose plans 100 new convenience shops as it invests £1bn in chain revamp
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.Waitrose has revealed plans to open up to 100 convenience shops over the next five years as part of a £1 billion …
Business
Sky News
Government borrowing highest since pandemic
Government borrowing rose to the highest amount since the pandemic in July, official figures show, as public sector pay increased.Not since 2021 has there been a July with such high borrowing, according to data from the Office for National Statistics (ONS). It means there was a £3.1bn difference between what the government took in from …
Business
Sky News
Peak train fares to return as pilot scheme scrapped over passenger numbers
A pilot scheme scrapping peak-time ScotRail fares will end next month following a “limited degree of success”.Transport Scotland said the trial – subsidised by the Scottish government – cost £40m but “did not achieve its aims” of encouraging more people to swap their cars for rail travel. The scheme began in October last year and …
Business
Business Live
Britishvolt administrators chase money owed from its defunct buyer
Administrators of the collapsed battery start-up Britishvolt say they have lodged claims for money owed by its now wound-up buyer, Recharge Production UK. EY says that former employees of the once vaunted electric vehicle battery firm have been paid £236,000 owed in wages and the tax office is due to be paid £3.03m it is …
Business
Evening Standard
Co-op spearheading scheme investing in 600 apprenticeships in early years sector
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 Co-op is spearheading an initiative to invest in more than 600 apprenticeships in the early years sector.The retail giant, along with …
Business
Sky News
Hobbycraft on brink of sale to retail investor Modella Capital
One of Britain’s leading arts and crafts retailers is on the brink of being sold to a specialist investor whose executives have backed chains including Paperchase and Tie Rack.Sky News has learnt that Modella Capital is in advanced talks to buy Hobbycraft from the private equity firm Bridgepoint. City sources said a deal could be …

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