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Evening Standard
Tortilla Mexican Grill warns over £2.3m hit from protein and energy cost hikes
Restaurant group Tortilla Mexican Grill said it is facing a full-year hit of more than £2 million from soaring protein and energy costs.Shares in the FTSE-listed chain tanked after it warned over a “material” impact on profits over the second half of the year from inflation cost pressures that have hit the business.Its share price …
Business
Evening Standard
Lidl commits to 100% free range eggs by end of 2024
Supermarket discounter Lidl has committed to stocking only 100% free range eggs by the end of 2024 in a move that it said would reinforce the retailer’s “commitment to the welfare and conditions” in which hens are housed.Martin Kottbauer, chief trading officer at Lidl, said: “We know that, in addition to the taste, the welfare …
Business
Evening Standard
Kwasi Kwarteng: ‘Difficult call’ to attend post-budget drinks party
The Chancellor has admitted that attending a private champagne reception with bankers hours after he delivered his mini-Budget “probably wasn’t” the best idea.Kwasi Kwarteng was at the boozy party with hedge fund managers the night he announced his growth plan in Parliament.Following the sweeping tax cuts, the pound crashed to an all-time low of $1.03. …
Business
Evening Standard
Liz Truss and Kwasi Kwarteng U-turn on scrapping 45p tax rate
Kwasi Kwarteng stunned British politics on Monday with a screeching U-turn on his plan to axe the 45p rate of income tax.With the ink hardly dry on his mini-Budget ten days ago, the Chancellor abandoned the ditching of the top rate of tax.He also did not rule out another U-turn over his decision to lift …
Business
Sky News
Planned tax cut for top earners ditched as PM faced threat of rebellion
Chancellor Kwasi Kwarteng has confirmed that the government is axing plans to give the wealthiest 1% a tax cut following a bitter backlash from Tory MPs. Mr Kwarteng said in a tweet that the measure had become a “distraction” from his objective to grow the economy. He said: “We get it, we have listened.”Politics live: …
Business
Sky News
Train firm rolls out new tech to tackle ‘leaves on line’ autumnal delays
Leaves on the line disrupting train services promise to be a thing of the past for many more travellers with new technology being introduced by a major train operator.Northern, which runs nearly 2,000 daily services, is fitting a system to 16 passenger trains which will combat slippery rails by spraying water onto them. The Water-Trak …
Business
Evening Standard
Liz Truss does not rule out real-term benefits cuts but guarantees pension hike
Liz Truss has refused to rule out real-term cuts in welfare payments despite saying pensions would rise in line with inflation.The Prime Minister declined to commit to the annual uprating of benefits in line with inflation, as millions feel the pain of the soaring costs of energy and food.Ms Truss defended plans to cut the …
Business
Evening Standard
Allies defend Kwarteng over Champagne reception following mini-budget
Kwasi Kwarteng has been defended by senior Tories as opponents called for an official inquiry following a report that he attended a private Champagne reception with hedge fund managers who stood to gain from a collapse in sterling following his mini-budget.The Sunday Times reported that he joined the gathering at the Chelsea home of a …
Business
Business Live
People on the move: key North East appointments and promotions of the week
Property agency Bradley Hall has appointed Cassie Moyse as group marketing director. Three of the firm’s shareholders are also taking on roles to concentrate on strategic growth, including Richard Rafique who becomes managing director commercial, Matt Hoy who becomes managing director residential, and David Cran who becomes managing director – Yorkshire. Catherine Affleck and Paul …
Business
Business Live
Prosthetic limbs specialist opens first satellite clinic in the North East
A newly launched prosthetics manufacturer and rehabilitation specialist has opened a North East satellite base to cater for demand from across the North. Sheffield-based STEPS Prosthetics, which launched earlier this year, has established an outpatient clinic at Team Valley’s family-run Neural Pathways centre which is rehabilitation clinic/gym space. The Yorkshire firm says it has seen …
Business
Evening Standard
Kwarteng faces calls for inquiry after champagne do with financiers
Chancellor Kwasi Kwarteng is facing calls for an official inquiry following a report that he attended a private champagne reception with hedge fund managers who stood to gain from a collapse in sterling following his mini-budget.The Sunday Times reported that he joined the gathering at the Chelsea home of a City financier on the evening …
Business
Evening Standard
Former Redcar steelworks torn down in one of UK’s biggest explosive demolitions
A former steelworks has been torn down in what is believed to be one of the biggest explosive demolitions in the UK.Dramatic pictures of the 65-metre-tall (213ft) Basic Oxygen Steelmaking (BOS) plant in Redcar being blown up emerged after Tees Valley mayor Ben Houchen pressed the button to detonate on Saturday morning.According to the Tees …

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