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Evening Standard
Businesses welcome ‘short-term fix’ as Government slashes energy bills in half
Thousands of companies might avoid collapse this winter after the Government announced a new package of energy bill support, but business groups warned it is just a “short-term fix”.Ministers said the new scheme could roughly halve the price paid for wholesale gas and electricity by non-domestic customers, which include schools and charities.The Government will foot …
Business
Evening Standard
Link faces additional £50m fine from FCA over Woodford probe
Neil Woodford’s fund administrator is facing a potential £50 million additional fine, the UK financial regulator has confirmed.The Financial Conduct Authority (FCA) said on Wednesday that Australia’s Link Administration could face the penalty in addition to £306.1 million in redress payments over its management of a now shut-down fund.Link’s UK-based operation Link Fund Solutions (LFS) …
Business
Business Live
Former Anglesey Aluminium site sold to Stena Line
Port and ferry operator Stena Line UK has bought the former Anglesey Aluminium site as part of plans to expand the Port of Holyhead. A former “eco park”, Anglesey Aluminium was taken over in 2016 by Orthios after smelting came to an end in 2009. However, it collapsed in March this year with loss of …
Business
Evening Standard
JD Sports to pay ousted chairman £7m as it praises “incredible” success story
JD Sports today agreed a near £7 million pay-off deal with ousted executive chairman Peter Cowgill, who turned the sports shoe business from an also-ran into a FTSE 100 giant.He will get £3.5 million over two years for a non-compete clause that prevents him from working for JD’s competitors or poaching its staff.There is also …
Business
Business Live
Mark Stott-owned Stockport County eye Championship return with stadium expansion plans
Stockport County Football Club have unveiled plans to expand their historic Edgeley Park stadium as part of a bid to return to the Championship. The League Two club, who are owned by local businessman Mark Stott, are aiming to increase capacity to around 20,000 seats by constructing a new East (Railway) Stand and South (Together) …
Business
Business Live
Deadline extended for BristolLive Business Awards 2022
Businesses in Bristol still have time to enter the BristolLive Business Awards 2022. The deadline for entries has been extended to Friday, September 23. The annual awards ceremony, run in association with BusinessLive and newspaper Bristol Post, recognises the city’s best and brightest companies, bringing together senior leaders from wide-ranging industries, from large corporates to …
Business
Evening Standard
Betway fined for advertising on children’s pages of West Ham website
Gambling giant Betway has been fined more than £400,000 for advertising on a children’s colouring page on West Ham United’s website.It displayed its logo on two pages of the Premier League club’s site designed for children, breaking the Gambling Commission’s rules on social responsibility, between 2020 and 2021.One breach lasted for three weeks, but the …
Business
Evening Standard
Price freeze helps sales surge at bowling group Ten Entertainment
A freeze in admission prices has helped bowling business Ten Entertainment sail past pre-pandemic performance with a more than doubling of profits.The Bedford-based firm posted sales of £63.2 million in the first half of 2022, up 53% on 2019 levels, while pre-tax profits rose 121% to £15.7 million. The company was boosted by its earlier …
Business
Evening Standard
Economic strife to last until 2024 warns Sage of Soho Martin Sorrell
ADVERTISING guru Sir Martin Sorrell today likened the energy crisis to the financial crash of 2008 and warned there may be no signs of economic recovery until 2024.He was talking as he revealed an £82 million loss at his tech start-up S4 Capital for the first half of the year. That follows a spectacular profit …
Business
Sky News
Truss picks former EDF Energy lobbyist to head No 10 business relations
Liz Truss has picked a former EDF Energy executive to spearhead Downing Street’s business engagement strategy as she seeks to position her administration on a pro-enterprise footing.Sky News has learnt that Michael Stott, who has also worked as a Conservative Party press officer, has been recruited by the new prime minister as the head of …
Business
Sky News
Germany’s biggest gas importer Uniper is nationalised after huge losses
The German government has said it will nationalise the country’s biggest gas importer, Uniper, as it battles massive losses amid Europe’s energy crunch.The Finnish company Fortum that had controlled Uniper said Russia’s squeeze on supplies since the invasion of Ukraine meant that the unit had lost €8.5bn (£7.4bn) to date. The latest state intervention followed …
Business
Sky News
Pound falls to 37-year low as cost of servicing government debt hits August record
The pound has fallen to a 37-year low against the dollar after figures showed that the cost of servicing UK government debt last month hit a record high for August – before Liz Truss came to power with promises to splash the cash.The Office for National Statistics said that interest payments were £8.2bn last month. …

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