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Powerful group of cross-party MPs demands chancellor brings forward full economic forecast and budget
A powerful group of cross-party MPs has demanded the chancellor release a full economic forecast by the end of October – a month earlier than planned.The Treasury Select Committee, made up of MPs from all parties and chaired by a Conservative MP, has called on Kwasi Kwarteng to release a full economic forecast from the …
Business
Sky News
Bank of England chief economist rebukes government defence of market turmoil
The Bank of England’s chief economist has contradicted the government by saying there is an “undoubtedly a UK-specific component” to the market reaction of the past six days.Huw Pill has counteracted the government’s claim that the market turmoil which followed the mini-budget announcement is down to broader market factors experienced by other economies, such as …
Business
Sky News
Chancellor insists government ‘protecting people across UK’ as he defends mini-budget
Chancellor Kwasi Kwarteng has insisted the government is focusing on “delivering the growth plan” and “protecting people right across the country” despite a week of market turmoil.The chancellor, who announced his mini-budget last Friday, said without the government’s plans it could not generate the income and tax revenue needed to pay for the public services …
Business
Sky News
Barratt shares fall 12% as property stocks pay price of mortgage chaos
Shares in the housebuilder Barratt fell 12% yesterday, and other firms in the construction, property and building materials sector were also hit hard by mayhem in the mortgage market. More than four out of ten mortgages have been taken off the market since the chancellor’s mini-budget on Friday, and companies involved in property and construction …
Business
Evening Standard
Twitter loses ad clients over child pornography fears
Dyson, Forbes and Mazda are among a list of major advertisers who have suspended their advertising campaigns on Twitter over child pornography concerns in the latest blow for the social media giant as it wrestles with whistleblower safety allegations and a protracted legal battle with the world’s richest man, Elon Musk.A number of companies have …
Business
Business Live
Frasers Group set to create 7,500 jobs with new global HQ campus
Sketch of plans for a new global HQ for Frasers Group in Ansty near Coventry High street retail group Frasers has announced major investment plans into the West Midlands which could see up to 7,500 new jobs created. The company, which owns household names such as Sports Direct, House of Fraser, Game and Evans Cycles, …
Business
Evening Standard
Profits tumble at Co-op amid soaring energy and labour costs
The Co-op Group has revealed a sharp slide in profits for the past six months in the face of surging energy and labour costs.The retail and funeral care firm revealed that pre-tax profits tumbled 84% to £7 million over the six months to July 2, compared with £44 million over the same period last year.It …
Business
Business Live
ADVERTORIAL: Mandale Park’s hybrid units in Stokesley meet new world needs
Stokesley Business Park is already a buzzing hub of activity and Mandale Group’s new development is making it even more sought after. Mandale Park TS9, located in the business park, provides a brand new, flexible concept for business space – ideal for the new and ever-changing world of work. If you’re thinking of stepping out …
Business
Business Live
Further step taken towards Rough’s return to gas storage to help ease energy crisis
A vital survey to understand the ability of the huge Rough gas storage facility to resume operations has been completed. The asset – capable of holding 100 billion cubic feet of gas – almost double the existing infrastructure, is being readied for a return to help ease concerns through the energy crisis. Vital supplies can …
Business
Business Live
Rockhopper set to develop oil field off Falkland Islands following completion of deal
A Wiltshire-based oil exploration firm said it is “on the cusp” of developing a major oil field off the coast of the Falkland Islands. The Salisbury-headquartered AIM-listed company said the transaction for Sea Lion between UK-based Harbour Energy and US gas and oil firm Navitas Petroleum had been completed. Navitas is acquiring Harbour’s stake in …
Business
Sky News
‘People were facing fuel bills of £6k – we had to act’: Truss defends economic strategy
Liz Truss has insisted “decisive action” by the government over its economic policies will help the UK going forward.Speaking to reporters, the prime minister said: “We have to look at what situation this country would be in if we hadn’t acted – people were facing fuel bills of up to £6,000, we had very high …
Business
Evening Standard
Bank of Ireland fined more than 100m euro over tracker mortgage breaches
Bank of Ireland has been fined more than 100m euro by the Central Bank for regulatory breaches affecting tracker mortgage customers.The fine of 100,520,000 euro is the largest ever imposed by the Central Bank.It said the penalty was imposed for a series of “significant and long-running failings” in respect of 15,910 tracker mortgage customer accounts …

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