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Sky News
Single fund at asset manager faced ‘knockouts’ without fall in gilt yields
Britain’s financial regulators have identified one remaining fund at an asset manager which would have faced a series of “knockouts” and potential collapse if gilt yields had risen markedly this morning.A half percentage point rise in the interest rates on government bonds would have left this fund, whose identity Sky News is protecting, having to …
Press Release
Pressat
Visible Youth™ launch is a breakthrough in skincare science
October 17 2022, London. Visible Youth™ is a revolutionary new skincare system. Discovered in medical research for skin cancer treatments, it is a remarkable serendipity of science. A pure molecule of medical grade Hyaluronic Acid (HA) delivers powerful skin regenerating biomaterial with technical precision into the deeper dermis. This complete formula of purity, power and …
Business
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 …

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