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Sky News
Financial market pressures ease as mini-budget giveaways culled
Financial markets have reacted positively to the new chancellor’s cull of more costly measures in his predecessor’s disastrous mini-budget.Jeremy Hunt revealed in a televised statement that he would no longer be proceeding with almost all the controversial package, including the reduction in the basic rate of income tax from 20% to 19% from next April. …
Business
Sky News
Warning ‘up to a million’ workers could go on strike this winter
Unions are close to organising co-ordinated strike action “very soon” following the “horror story” of the past few weeks, a union boss has told Sky News.Sharon Graham, general secretary of Unite, accused the government of “aiding and abetting” employers earning millions in profits but not handing that to workers. She confirmed Unite, the UK’s second …
Business
Sky News
Trade unions vow to fight government over strike legislation to ‘keep Britain moving’ during strikes
The government is pressing ahead to introduce legislation which will require transport workers to run a minimum service when strikes are taking place. It comes after commuters have been plagued by months of travel chaos caused by industrial action by railway workers, who are calling for better pay, working conditions and job security. But trade …
Business
Evening Standard
Government presses on with legislation to ‘keep Britain moving’ during strikes
The Government is pressing ahead with legal moves to introduce minimum service levels during strikes by transport workers.The announcement follows months of industrial action by railway workers in bitter disputes over pay, jobs and conditions which has caused travel chaos across the country.Unions criticised the move, with many believing it would be unworkable.Legislation will be …
Business
Evening Standard
Mini-budget went ‘too far, too fast’, says new Chancellor
Jeremy Hunt said that Liz Truss’s mini-budget went “too far, too fast” as the new Chancellor effectively signalled the demise of the Prime Minister’s economic vision.Political and economic circles spent Saturday sizing up Mr Hunt after he used a series of broadcast interviews in the morning to suggest Ms Truss’s immediate economic plan is now …
Business
Evening Standard
Asos seeks £350 million credit boost to avoid financial buffers
Troubled fast fashion retailer Asos is to take urgent action to avoid the financial buffers confirming it is in talks about its £350 million credit facility with financial backers and in the “final stages” of agreeing its “future financial covenant”.The retailer that insisted it had a “strong liquidity position” issues its full year results on …
Business
Evening Standard
Speculation builds over Hunt’s plans amid reports of delay to 1p income tax cut
Speculation is growing about the direction that new Chancellor Jeremy Hunt will take the nation’s finances, amid reports that he could seek to delay plans for a 1p cut in income tax.The new Chancellor, who spoke to broadcasters on Saturday in his first full day in office, declined to be drawn into specifics of what …
Business
Sky News
Interest rate rise will be higher than expected next month, Bank of England chief suggests
Interest rates will have to be raised higher than initially hoped in the face of inflationary pressures, the Bank of England (BoE) governor has suggested.Speaking at an International Monetary Fund event in Washington, Andrew Bailey also said there had been “a very clear and immediate meeting of minds” with new Chancellor Jeremy Hunt on the …
Business
Sky News
Asos troubles deepen as lenders fashion balance sheet talks
Asos, the online fashion retailer, is facing deepening troubles after its biggest lenders hired advisers in a move that could pave the way for a formal financial restructuring.Sky News has learnt that the London-listed company, which is due to report its full-year results to the City on Wednesday, recently approached the banks behind its £350m …
Business
Evening Standard
Hunt: Tax rises and spending cuts on cards with ‘difficult’ decisions ahead
Liz Truss’s new Chancellor signalled on Saturday his plan to up-end the Prime Minister’s entire economic strategy, in an extraordinary rebuke of the pledges that brought her into office.Jeremy Hunt, widely seen now as the most powerful figure in Government, used a series of broadcast interviews on Saturday morning to signal that Ms Truss’s immediate …
Business
Business Live
People on the move: key North East appointments and promotions of the week
Karen Wheatley has joined Barratt Developments North East’s board as the region’s new commercial director, becoming the first ever female on the board of directors. Her role will cover the growth and development of the business, while helping to identify new commercial opportunities. Ms Wheatley began her career in construction in 1987 as a surveyor …
Press Release
Pressat
Kwarteng’s out – but are the problems of the mini budget over?
Kwasi Kwarteng has been sacked as Chancellor of the Exchequer. While he, and Downing Street, insist it was an amicable departure, that this is the fourth Chancellor this year leaves much up in the air. Kwarteng’s tenure as Chancellor was in fact the second shortest in modern British history. Right on the heels of Kwarteng’s …

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