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Evening Standard
Big-name high street stocks caught in market turmoil as UK warned of economic ‘doom loop’
The pound resumed its slump and shares tumbled today as some forecasters warned of a “doom loop” that could further hit Britain’s sagging economy.Yesterday markets were relatively calm. Today they resumed their sell-off of UK assets.The FTSE 100 fell 129 points to 855.75, with banks and retailers the worst hit.A billion pounds in market value …
Business
Sky News
Bank of England takes emergency action to prevent ‘material risk’ to UK financial stability
The Bank of England has launched a temporary bond-buying programme as it takes emergency action to prevent “material risk” to UK financial stability.It revealed that it would buy as many long-dated government bonds as needed between now and 14 October in a bid to stabilise financial markets in the wake of the mayhem that followed …
Business
Sky News
Mini-budget U-turn ruled out despite Bank of England’s emergency action
The government has ruled out a U-turn on the costly tax-cutting mini-budget and the chancellor will not resign despite mounting pressure. It comes after a day in which the Bank of England was forced to launch a temporary bond-buying programme as it took emergency action to prevent “material risk” to UK financial stability. Bank’s ‘nearly …
Business
Business Live
Pharmaceuticals firm Vectura gets green light for £58m Bristol facility
Plans to build a £58m “world-leading” science facility on the outskirts of Bristol have been approved. Wiltshire-based pharmaceuticals firm Vectura, which specialises in respiratory medicines and inhaler devices, has been given the go-ahead by South Gloucestershire Council for a new 10,000 m sq facility based at Bristol & Bath Science Park. Vectura said its “Inhalation …
Business
Business Live
£6m care centre construction project underway in Scunthorpe
Construction has started on a new £6 million multi-purpose short-break care centre in Scunthorpe. The facility, for North Lincolnshire Council and backed by the Department for Education, is designed to support local young people who have complex disabilities, and their families, by offering access to opportunities and bespoke support. Hull-based Hobson and Porter is delivering …
Business
Business Live
‘It’s a chance to tell our city’s story’: How hosting Eurovision could boost Liverpool’s economy
Hosting the Eurovision Song Contest next year could have a major impact on Liverpool’s economy, experts have said. The city is battling it out with Glasgow for the right to hold the next edition after making the final two, seeing off competition from Birmingham, Leeds, Newcastle, Sheffield and Manchester. Ukrainian entry Kalush Orchestra triumphed at …
Business
Evening Standard
A plea for clarity from former M&S boss Stuart Rose
A talking head on the radio this morning: “We are in a jam, a pickle and a stew.”That’s Labour leader Keir Starmer lambasting the government as he tries to get a post-conference bounce to his poll numbers.No, wait, it’s actually Stuart Rose, the Tory peer who is best known for being the former boss of …
Business
Business Live
Bristol film and TV production ‘thriving’ as shows including The Outlaws generate millions for economy
Film and television production in Bristol has generated more than £20m for the local economy in the last financial year, new figures show. The sum is a 22% increase on pre-pandemic figures and the largest contribution that filming-related activity has made towards Bristol’s economy in a decade, the Bristol Film Office said. Shows including Am …
Business
Evening Standard
Shepherd Neame back in black but warns London pubs are falling behind
Britain’s oldest brewer Shepherd Neame said it was back in the black today after two years of losses but warned sales at the firm’s London pubs had lagged well behind the rest of the country.The 400-year-old brewer, which makes Spitfire and Bishops Finger beer, posted profits of £7.4 million in the year to June 2022, …
Business
Evening Standard
Shepherd Neame boss warns further price increases ‘likely’ due to inflation
The boss of brewer and pub group Shepherd Neame has warned that further increases to the price of a pint are “likely” as surging costs continue.It came as the Kent-based company revealed a sharp rebound in sales and return to profit following the impact of the pandemic.However, chief executive Jonathan Neame said the group is …
Business
Evening Standard
Thousands of Post Office workers walk out in strike action
Thousands of Post Office workers have walked out on strike in a dispute over pay.Members of the Communication Workers Union are taking action for 24 hours in a separate row to the pay and conditions dispute in the Royal Mail.CWU official Andy Furey said the union had to call a strike because its legal mandate …
Business
Evening Standard
Chancellor Kwasi Kwarteng bids to reassure markets after IMF rebuke
Kwasi Kwarteng will step up efforts to reassure the City about his economic plans after the International Monetary Fund (IMF) criticised the Government’s strategy – and as the pound suffered further falls on Wednesday.The Chancellor remains under pressure to reassure the markets after the Bank of England suggested sharp interest rate rises could be on …

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