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European Central Bank raises interest rates by unprecedented 75 basis points
The European Central Bank (ECB) has hiked its key interest rates by an unprecedented 75 basis points, signalling that further rises are likely.On Thursday afternoon, the bank – which makes monetary policy for the eurozone and the European Union – lifted the deposit rate from zero to 0.75% and the main refinancing rate was lifted …
Business
Evening Standard
Darktrace shares tumble as talks with private equity buyer fail
Bid talks between Cybersecurity specialist Darktrace and private equity firm Thoma Bravo collapsed, sending its shares tumbling by a third and casting further doubt on the City’s credentials for closing major deals in the tech-sector.The Cambridge-based company is in a red-hot part of the market, using artificial intelligence to prevent web-based attacks. Darktrace’s struggle with …
Business
Business Live
Huge step forward for Leicester City King Power Stadium expansion plans following months of delays
Planning officers at Leicester City Council are recommending that councillors vote through plans for a big expansion of the King Power Stadium. Leicester City FC want to rebuild the East Stand and take the attendance of the ground to more than 40,000. The Thai owners also want to add a 220-room hotel, a 20-storey residential …
Business
Business Live
KCom commits to £100m full fibre future with huge expansion plan unveiling
A £100 million expansion and overhaul of KCom’s network has been unveiled as it launches its full fibre future. Plans to deliver for generations to come have been released a decade on from the first leap of faith in broadband development. The Hull-based provider is investing huge sums into the city, wider Yorkshire and Lincolnshire, …
Business
Business Live
Egger invests £15m into recycling operations at Hexham plant
Manufacturer Egger UK has invested more than £15m into its Hexham site to create a new recycling plant. The North East operation, which is part of a global group, said the move will improve the quality of recycled wood used to make its chipboard panels. Using new technology, the plant segregates, cleans and chips waste …
Business
Business Live
Latest phase of 7,000 new home development in Cardiff underway
The latest phase of the 7,000 home Plasdŵr development on the outskirts of Cardiff has started. Housebuilder Redrow confirmed that construction work is now underway on phase three of the Cwrt Sant Ioan site. Cwrt Sant Ioan will have a range of two, three and four bedroom homes and apartments near Cardiff, close to the …
Business
Evening Standard
Wagamama owner’s profits jump but heatwave weighs on summer dining
The Restaurant Group swung to a profit in the past six months as diners returned but said its Wagamama chain saw demand slow during the summer heatwave.The hospitality giant said like-for-like sales slowed at Wagamama and its leisure brands, which include Frankie & Benny’s, during July and August.However, chief executive Andy Hornby told the PA …
Business
Business Live
North East property firm Bradley Hall to double Leeds headcount with new office
A North East property firm has opened a new office in Yorkshire as it aims to continue its growth. Bradley Hall has relocated its Leeds team to a new 1,600 sq ft head office at Park Place, and hopes to double its headcount in the city over the next 12 months Bradley Hall first launched …
Business
Sky News
‘Moment to be bold’: PM says household energy bills will be capped at £2,500 a year from October
A typical household will pay no more than £2,500 annually for its gas and electricity bills from the start of October, Prime Minister Liz Truss has announced.In the first major policy announcement of her premiership, Ms Truss said the new price guarantee will last for two years and save the average household in England, Wales …
Business
Sky News
How the energy price guarantee will work for you
An unprecedented intervention in the energy market will shield households, businesses and public sector organisations from the worst of the surge in wholesale gas prices.The Truss government’s “energy price guarantee” aims to keep the bill pain facing the public at less than half the amount predicted for the winter ahead, with firms also getting help …
Business
Sky News
How energy price aid will work for households and businesses
State intervention in the energy market will protect households, businesses and public sector organisations from the worst of the rise in wholesale gas prices.The Government’s “energy price guarantee” for households and the “energy bill relief scheme” for everyone else aims to keep bill pain at less than half the amount predicted for the winter ahead. …
Business
Evening Standard
Truss to set out energy plans in first test for her premiership
Liz Truss is expected to lift the ban on fracking as she sets out measures to shield households and businesses from soaring energy bills.In her first major policy intervention as Prime Minister, she is expected to tell MPs on Thursday that domestic energy bills will be frozen at around £2,500 as part of a package …

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