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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 …
Business
Business Live
One of the oldest construction firms in Wales, Jehu, to enter administration
One of Wales’ oldest construction and property development firms, Jehu, is set to collapse into administration . It has blamed the move on inflationary pressures decimating its cash reserves. The Bridgend-based firm, which operates across South Wales and the south-west of England, has made 104 employees redundant with immediate effect. Jehu Group, Jehu Project Services …
Business
Business Live
Fenwick sees sales rebound and losses narrow despite Covid omicron woes
Department store chain Fenwick narrowed losses considerably and recovered sales in its most recent financial year, newly published accounts show. The Newcastle-based retailer, which runs nine stores in England, said it considered the results a strong performance given significantly reduced footfall as a result of store closures in 11 weeks during the year to January …
Business
Evening Standard
Families paying more than £530 extra on mortgage due to Liz Truss, says Labour
Families are paying more than £530 extra for their mortgage than at this time last year, analysis by the Labour Party shows.Laying the blame with Liz Truss’s “disastrous premiership”, Labour said a family with a mortgage on the average property are paying £537 a month more than they would have 12 months ago.Lisa Nandy MP, …
Business
Business Live
Software school opens for applications
A free training camp which teaches people how to write software code is open for its next cohort of students. Birmingham-based School of Code is currently accepting applications for its next 16-week camp which will commence in February. The intensive course is held remotely and teaches people to write software code. It is open to …
Business
Business Live
Tickets on sale for Christmas charity lunch
Tickets are now on sale for a Christmas charity lunch. Trade body Birmingham Publicity Association is hosting the event which is raising funds for its charity partner Winston’s Wish which supports children and young people after the death of someone close to them. It takes place on December 2 at the Park Regis Hotel in …
Business
Sky News
‘Significantly reduced timetable’ as train workers stage 24-hour walk out
Train passengers have been warned to expect disruption on rail networks as a strike hits services on some of Britain’s busiest routes today.Members of the Rail, Maritime and Transport (RMT) union working for Avanti West Coast are staging a 24-hour walk-out in a dispute over rosters. Commuters have been warned to expect a “significantly reduced” …
Business
Evening Standard
Dockers to stage new strike with pay dispute unresolved
A fresh strike by dock workers at one of the UK’s biggest ports will go ahead from next week after talks failed to resolve a pay dispute.Members of Unite in Liverpool will walk out on Monday after the union said negotiations ended talks in “chaos”.Unite accused the board of operators Peel Ports of intervening to …
Business
Evening Standard
Political instability sees UK economic outlook downgraded by ratings agency
The UK’s economic outlook has been downgraded from “stable” to “negative” by the ratings agency Moody’s due to political instability and high inflation.In a report published on Friday night, Moody’s said the change in outlook was driven by “heightened unpredictability in policymaking amid weaker growth prospects and high inflation” and “risks to the UK’s debt …
Business
Evening Standard
Court staff begin nine-day walkout over case management system
Sixty-eight courts across England and Wales will be affected by staff launching a strike in a dispute over a controversial case management system.The Public and Commercial Services union (PCS) said its members working as legal advisers and court associates will stage a nine-day walkout starting on Saturday.The workers, who postponed last month’s planned strike after …
Business
Sky News
UK financial outlook downgraded to negative by rating agency Moody’s
Moody’s rating agency has cut its UK’s financial outlook to negative but maintained its sovereign rating at Aa3.On Friday, the agency lowered the UK’s outlook to negative from stable, citing policy uncertainty amid high inflation and weaker growth prospects. Moody’s said the government’s “ability to engender confidence in its commitment to fiscal prudence” will be …

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