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Sky News
‘Material risk’ to UK financial stability with part of pension-linked market ‘dysfunctional’
The Bank of England has warned of “a material risk to UK financial stability” as it widened its programme to buy up government bonds. The move has been made as a result of “further significant repricing of UK government debt” in one pension-linked market, the Bank said. It added that it was “dysfunction” and the …
Business
Sky News
Number of long-term sick people at a record high
The number of people who do not have a job due to long-term sickness has risen to a record high, according to data from the Office for National Statistics (ONS).These people are not classed as unemployed because they are too sick to look for work. Instead they are classed as economically inactive. That rate of …
Business
Sky News
Groceries bill reaches record high as shoppers search for ways to cook without oven
The pace of price rises for essential groceries has hit a new record high, according to a report looking at changes to shopping habits.Grocery inflation is running at 13.9% over the 12 weeks to 2 October – meaning that the average annual bill was £643 more expensive, Kantar Worldpanel data shows. It marked a sharp …
Business
Sky News
Digital care platform Elder secures £20m funding boost
A healthcare platform which helps pensioners to continue living in their own homes has secured a £20m funding boost as it seeks to expand its services.Sky News understands that Elder, which has 4,000 professional carers registered on its platform, has struck a deal worth up to €24m in debt and equity financing. Elder, which was …
Business
Business Live
MBO at manufacturer whose clients include London Underground, Pepsico, Siemens and Tata
A rubber parts manufacturer whose clients include London Underground, Pepsico, Siemens and Tata has been bought by members of its management team. J-Flex was established in 1984 by John and Jill Kirk to make rubber-based products for sectors such as aerospace, rail and pharmaceutical. Since then the business, based in Retford, north Nottinghamshire, has built …
Business
Evening Standard
Sainsbury’s backs pregnant mothers and kids health scheme
Sainsbury’s is to top up the Government-funded NHS Healthy Start scheme by £2 in a move the supermarket said could help feed more than half a million pregnant women and children over the coming months.It will be providing a £2 coupon every week for the third time over the next six months to customers using …
Business
Business Live
Welsh-speaking counties to get £11m fund to boost economic prosperity
An £11m funding package has been launched in a bid to boost economic prosperity in predominantly Welsh-speaking counties. The funding will be available over the next three years to four counties which have the highest levels of Welsh speakers: Gwynedd, Ynys Môn, Ceredigion and Carmarthenshire. Under the Welsh Government’s Arfor 2 programme and as part …
Business
Business Live
What are investment zones and will they boost the UK economy
Harold Wilson famously opined certainly been a very long one for all of those with an interest in our economic fortunes. Politically 22 years is a lifetime and so it was in October 2000, in the distant early days of devolution that I was involved, in a backroom role, as a special advisor to Mike …
Business
Business Live
Gloucestershire designer to create mastectomy swimwear line
A Gloucestershire-based swimwear designer is set to create a special swimwear line to provide more options for women who have been through a mastectomy. Natasha Griggs, founder of Cheltenham-based Topaz Swimwear, has set about creating a bespoke line that will emulate the luxury brand’s wider range. Currently in the research stage with Gloucestershire Hospitals NHS …
Business
Sky News
Competition watchdog provisionally clears the way for Morrisons’ takeover of McColl’s
The acquisition by Morrisons of McColl’s, one of Britain’s biggest convenience store chains, has edged closer to being given the go-ahead by the competition watchdog.The Competition and Markets Authority has said it is “minded to accept” proposals from the retailers. A total of 28 McColl’s stores could be offloaded as part of the proposals that …
Business
Business Live
Concession retail plan for Grimsby’s former House of Fraser derailled
Plans for Grimsby’s former House of Fraser to become the venue for an emerging retail concept have been dashed. 15:17 Ltd, the operator behind a concession-led model it had previewed in the town before the pandemic hit – having launched in Scotland and Wales – is in the process of being wound up. It had …
Business
Evening Standard
Chancellor U-turns to agree to Halloween publication of economic vision
Chancellor Kwasi Kwarteng has bowed to pressure to bring forward the publication of his financial strategy and independent economic forecasts – to Halloween.Completing another U-turn, Mr Kwarteng agreed to set out his medium-term fiscal plan alongside Office for Budget Responsibility (OBR) predictions on October 31.The Chancellor had been resisting setting out the details ahead of …

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