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Sky News
Credit Suisse has stumbled from one crisis to another – but the panic is possibly overdone
It never rains but only pours at Credit Suisse.Switzerland’s second largest lender has stumbled from one crisis to another in recent years. There was the corporate spying scandal three years ago in which the bank was accused of hiring a private detective after one of its former executives had defected to a rival.Shortly afterwards, the …
Business
Sky News
Eleven water companies fined and forced to give money off customers’ bills
Eleven of 17 water companies in England and Wales have been fined for missing their targets and will be forced to give customers millions off their bills.At regular intervals, regulator Ofwat determines whether water firms have kept in line with industry standards on issues such as supply interruptions, pollution incidents and internal sewer flooding. Breaches …
Business
Sky News
U-turn on tax cuts, women in tech and how restaurants are coping with energy prices
The government has scrapped plans to slash income tax for the country’s highest earners and the markets have responded to the move.Ian King also finds out more about representation in tech and hears how a company is making tequila more sustainable.Listen and subscribe to The Ian King Business Podcast here Advertisement
Business
Sky News
‘Significant risk’ of UK gas supply emergency, energy regulator warns
The energy regulator has warned the UK is facing a “significant risk” of gas shortages this winter.The information, which was revealed in a letter sent from Ofgem last week and first revealed by The Times, spoke of the possibility of “gas supply emergency” measures to help preserve stocks due to the impact of Russia’s war …
Business
Business Live
Arena giant looking to rebuild after cutting almost 1,000 jobs during pandemic
A group that operates some of the largest entertainment venues in the UK was forced to cut almost 1,000 jobs during the Covid-19 pandemic, it has been revealed. SMG Europe Holdings, which trades under the ASM Global brand, employed 2,111 members of staff in 2019, a figure that reduced to 1,668 in 2020 and again …
Business
Business Live
Macroeconomic stability vital for Welsh firms’ investment plans
After the turbulence of the past week, no one can doubt the importance of strong financial institutions in protecting and promoting the UK’s attractiveness to investors. As the UK seeks the sustainable growth needed to improve living standards amid the worst cost-of-living crisis in recent memory, it will be even more vital. Events began with …
Business
Evening Standard
Elon Musk’s wealth set to drop $8 billion amid disappointing Tesla delivery numbers
Elon Musk’s wealth is set to plummet as much as $8 billion when US markets open today after Tesla’s third-quarter delivery numbers sent shares down 6% in pre-market trading.The share price drop amounts to some $54 billion being wiped off the carmaker’s market cap after its delivery numbers failed to live up to analyst expectations …
Business
Business Live
Soaring energy prices threatening Scunthorpe steelworks’ sustainability – claim jobs at risk as support sought
The owners of British Steel in Scunthorpe are understood to have requested an urgent package of financial support from the government to help meet rising energy costs. Funding, which could run into hundreds of millions, is said to be needed – as without it the two huge blast furnaces that drive steel-making will not be …
Business
Sky News
‘Lukewarm’ market response to Vodafone and Three UK merger talks
Vodafone and the owner of Three UK, CK Hutchison, have confirmed a Sky News story that they are hopeful of striking an agreement by the end of the year to establish a joint venture to create a market leading mobile network.Sky News City editor Mark Kleinman reported discussions between Britain’s third and fourth largest networks …
Business
Business Live
Brexit ‘freedom’ is bringing a freeport to Wales for the first time says Welsh Secretary
The Government is using its Brexit “freedom” to “bring a freeport to Wales for the very first time”, Welsh Secretary Sir Robert Buckland has said. Speaking to Conservative Party members at Birmingham’s International Convention Centre (ICC), Mr Buckland said: “We are using our freedom outside of the EU to bring a freeport to Wales for …
Business
Sky News
Tax rate U-turn lifts pound – but markets still fret over govt credibility
The pound and government bond yields have recovered some poise in the wake of the government’s U-turn on abolishing the top rate of income tax.Kwasi Kwarteng revealed early on Monday morning that the decision to axe the 45p rate – part of his growth plan revealed last month – would now not happen in April …
Business
Business Live
Bristol businesses vote to renew city centre BID for five more years
Business leaders in Bristol have voted overwhelmingly to keep running the business improvement district (BID) scheme in the city centre for another five years. Of the votes cast by eligible firms, 79% voted to renew the BID, which outlined its proposals earlier in July. Plans include how it will attract business, inward investment and people …

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