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Sky News
Bank of England ceases bond-buying after spending £19.3bn
The Bank of England has purchased £19.3bn of UK government bonds and concluded part of its extraordinary intervention to prevent a collapse in the pensions industry.Just five days after the former chancellor unveiled his mini-budget on 23 September, the Bank took unprecedented action to purchase long-dated UK government bonds, known as gilts, that are effectively …
Business
Sky News
Sunak-backer Jeremy Hunt appointed as new chancellor
Jeremy Hunt has been appointed chancellor after the prime minister sacked Kwasi Kwarteng.Mr Hunt returns to the frontbenches after three years, having served as foreign secretary under Theresa May and, before that, health secretary and culture secretary under David Cameron. His appointment, just an hour after his predecessor was sacked, is a sign that Liz …
Business
Sky News
Who is in the running to be the new chancellor?
Kwasi Kwarteng has been sacked as chancellor after 38 days in the role.He arrived back in London for crisis talks with Liz Truss this morning as speculation of a major U-turn on their mini-budget mounted. But after it emerged the prime minister will address the nation later without her chancellor by her side, there was …
Business
Sky News
Markets react positively to expected government U-turn on mini-budget
The financial markets have responded positively to the government’s expected U-turn on parts of its massive mini-budget programme of unfunded tax cuts and energy price cap spending.Markets have already priced in the government’s policy U-turn as the interest rate payments on long-dated government bonds, effectively state IOUs, sunk on Friday while the pound rose against …
Business
Sky News
Markets react negatively to Truss speech
The financial markets have responded negatively to Truss speech despite a positive response to the government’s U-turn on parts of its massive mini-budget programme of unfunded tax cuts and energy price cap spending.Despite initial positive moves in the market on Friday the response to Liz Truss’s U-turn speech on Friday afternoon has been negative.UK government …
Business
Sky News
Markets react negatively to Truss speech spelling out corporation tax U-turn
The financial markets have responded negatively following Liz Truss’s announcement of a U-turn on corporation tax in a bid to reassure investors.As was widely predicted, the prime minister said she was abandoning the government’s commitment to drop the planned tax increase from 19% to 25% – even though it was a central plank of her …
Business
Business Live
Former Gloucestershire Co-op site bought for retirement scheme
A developer has purchased a former commercial site in Bourton-on-the-Water, Gloucestershire, where it plans to create a new retirement and housing scheme. Housebuilder Lifestory has acquired the 3.39 acre brownfield site on Station Road, near the high street in the Cotswold village, from Midcounties Co-op for an undisclosed sum. Existing buildings on the land include …
Business
Business Live
The Welsh social housing entrepreneur who began his property career aged just 16
Social housing and commercial property developer Dorian Payne, who started his entrepreneurship journey aged 16 while studying accountancy at college, has secured consent for his latest scheme – with a pipeline of developments valued at more than £100m. His current business venture, Swansea-based Castell Group, has secured consent for a social housing and commercial scheme …
Business
Evening Standard
Revolution Beauty top management steps back during investigation
The CEO and executive chairman of Kent-based make up manufacturer Revolution Beauty have both stepped away from “the day-to-day management of the business” to concentrate on an ongoing independent investigation involving the company’s finances. Chair Tom Allsworth and boss Adam Minto will be replaced by Bob Holt as interim chief operating officer during the investigation process …
Press Release
Pressat
STICK ANOTHER STAR ON THE SHIRT, By The 12th Man and In Partnership with The Jeff Astle Foundation
STICK ANOTHER STAR ON THE SHIRT marks the football music debut of The 12th Man, comprised of Richy Hughes, Scott Dean and Luke Bateman, three award-winning songwriters who sing their hearts out from the England Supporters’ Club end at every Wembley home game. This new collaboration, written for the 2022 tournament in Qatar, captures their …
Business
Evening Standard
Inmarsat takeover on hold as CMA launches in-depth investigation
A planned $7.3 billion (£6.5 billion) takeover of satellite firm Inmarsat by American rival Viasat suffered a setback today as the UK’s competition watchdog said it was referring the case for an in-depth investigation.The Competition and Markets authority said it feared the deal would result in a “substantial lessening of competition” in the UK, which …
Business
Evening Standard
Hospitality chain Loungers targets 19 more openings
Cafe bar chain Loungers has revealed plans to open 19 more sites over the rest of the financial year as it continues to push forward with its expansion plans despite pressure on consumer spending.Shares in the company moved higher in early trading on Friday.The hospitality firm, which runs venues under the Lounge and Cosy Club …

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