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£4m funding boost for East Yorkshire alternative lender to aid SMEs
An East Yorkshire-based alternative lender has significantly increased its financing capability, allowing it to provide further support to SMEs. One Stop Business Finance has secured a £4 million addition to its funding line with retail and commercial bank Shawbrook. The 66 per cent uplift from the £6 million existing cap will allow the growing team …
Business
Business Live
Established Llandudno hotel acquired by The Inn Collection Group
Newcastle-based pubs with rooms operator The Inn Collection Group has expanded with a third site in Wales following the acquisition of a well-established hotel in north Wales’ largest resort. The company, which also owns Swallow Falls Hotel in Betws-y-Coed and The Bull in Beaumaris in Wales, has bought St Kilda Hotel in Llandudno for an …
Business
Business Live
Bristol City chief executive to move to England and Wales Cricket Board
The chief executive of Bristol City Football Club is stepping down from his role to take up the top job at the England and Wales Cricket Board (ECB). Richard Gould, 52, will remain with the Robins until the end of the January transfer window. He was selected ahead of Durham’s Tim Bostock to one of …
Business
Sky News
UK service sector records fastest decline in activity since January 2021
The downturn in the economy has worsened this month as the service sector recorded the fastest decline in activity since January 2021, according to the closely-watched S&P Global / CIPS Flash UK Purchasing Managers Index (PMI).The survey of 650 manufacturers and 650 service providers showed that growth was lower than expected and was at a …
Business
Business Live
£3.4bn turnover car dealership suffers ransonware attack
Pendragon – the car dealership group which owns Evans Halshaw and Stratstone – has taken out a high court injunction after being subjected to a ransomware attack. The £3.4 billion turnover business said its IT systems had been hacked but it was still able to operate as normal. It said it had rejected the hackers’ …
Business
Evening Standard
Philips to cut 4,000 jobs after millions of devices recalled over safety concerns
The boss of Philips has said he will cut as many as 4,000 jobs, just nine days after stepping into the role as he seeks to chart a new course to restore the reputation of the beleaguered health technology firm.CEO Roy Jakobs, who become CEO on the 15th of October, said the move was part of …
Business
Evening Standard
Markets eye “chink of light” as Rishi gets ready to be PM
THE pound railed, government borrowing costs fell and a turbulent stock market regained some sense of calm as markets welcomed signs of stability from central government.With former chancellor Rishi Sunak on track to be the new Prime Minister, leading economic indicators at least stopped pricing in Armageddon after several weeks of turbulence.While the latest economic …
Business
Business Live
Wiltshire healthcare firm acquires hearing specialist’s UK division
Wiltshire healthcare company OutsideClinic has acquired the UK division of a global hearing care specialist for an undisclosed sum. The Swindon-headquartered firm has agreed a deal with Danish hearing aid manufacturer WS Audiology (WSA) for the British assets of its brand Bloom. Bloom has its UK head office in Saltash, in Cornwall, while it operates …
Business
Evening Standard
Market optimism short-lived as pound and FTSE 100 gains pared back
Initial optimism on London’s markets was short-lived as both the pound and the FTSE 100 pared back some of their earlier gains after Boris Johnson ruled himself out as prime minister.The FTSE 100 started the day with a 0.5% rise, pushing it above the 7,000-point mark for the first time in a week, but it …
Business
Evening Standard
Pearson sees sales boosted by English language learning rebound
Education publisher Pearson has seen its sales grow 7% as it confirmed it is on track to shave off £100 million in costs by 2023.The FTSE 100-listed firm said sales growth was driven by a post-pandemic resurgence in English language learning and normalisation of exam timetables.It hailed a “robust” financial position and held firm on …
Business
Sky News
Interest rate rise could be lower than expected as markets rally
The financial markets have enjoyed a rebound as Boris Johnson dropped out of the leadership race, leaving Rishi Sunak as the favourite to become prime minister. On Monday morning, the FTSE 100 started the day with a 0.5% rise, pushing it above the 7,000-point mark for the first time in a week. And the pound …
Business
Evening Standard
Pound’s plunge ‘biggest shock’ of past year, says Avon boss
The boss of global beauty giant Avon has said the pound’s plunge in the wake of the mini-budget market turmoil was the group’s biggest shock of the past year as she likened the sterling sell-off to the Turkish lira crisis.Angela Cretu, global chief executive of Avon International, told the PA news agency that sterling’s dramatic …

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