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‘Significant’ interest rate rise to come, Bank of England chief economist suggests
The Bank of England’s chief economist has said the government’s mini-budget, which led to the pound falling to a record low against the dollar, will require “a significant monetary policy response”.Speaking at the International Monetary Policy Forum, Huw Pill reasserted the Bank of England’s willingness to act to rein in inflation. Mortgage repayments could rise …
Business
Sky News
Labour vows to create new publicly owned energy company – with a very patriotic name
Sir Keir Starmer has announced that a Labour government will create Great British Energy – a new, publicly owned company that will generate renewable sources “to cut bills, create jobs and deliver energy independence”.The role of GB Energy will be to provide additional capacity alongside the private sector, to establish the UK as a clean …
Business
Business Live
Adhesive manufacturer secures new logistics facility in Exeter
Adhesive manufacturer Forgeway is expanding its operations after securing a new facility at Exeter Logistics Park. The Devon firm, which is headquartered in Newton Abbot, has signed a 15-year lease on a 28,500 sq ft building, set for practical completion “within weeks”. The company, which produces glue used in industries such as aerospace, rail, construction …
Business
Business Live
Aerospace giant Airbus welcomes second highest intake of graduates and apprentices
Aerospace giant Airbus has welcomed its largest number of apprentices and graduates since the end of the pandemic. The 144 apprentices intake is its second largest cohort ever and just shy of the 155 pre-pandemic intake in 2019. Some 20 graduates and 53 interns have also joined its 4,500-strong workforce at Broughton in Flintshire, where …
Business
Evening Standard
Card Factory bounces back to profit as high street sales recover
Card Factory has swung back to a profit for the past half-year after the relaxation of pandemic restrictions helped sales surge.Shares in the high street retailer moved higher in early trading on Tuesday.The London-listed firm posted a pre-tax profit of £14.3 million for the six months to July, rebounding from a £6.5 million loss over the …
Business
Evening Standard
FTSE Live: Pound reclaims $1.08, FTSE 100 ticks higher in opening trade
The pound has fought back from record lows touched in reaction to Kwasi Kwarteng’s tax-slashing mini budget, while according to opening calls, the FTSE 100 is expected to make modest opening gains, after managing a small overall rise by the end of the previous session.The rebound came after the Treasury pledged to hold a full …
Business
Business Live
Festival of tech returns to Birmingham
A festival of tech and business will return to Birmingham next month. Birmingham Tech Week, which runs from October 10 to 14, will again host a series of events and workshops at venues across the city. The festival will offer investment opportunities, access to support, networking and digital skills for anyone interested in the digital …
Business
Evening Standard
JD Sports slapped with £1.5 million fine for price fixing
JD Sports has been slapped with a £1.5 million fine from the UK competition watchdog after being accused of price-fixing Rangers FC clothing at its stores.The Competition and Markets Authority said JD agreed to raise the prices of Rangers replica kits after reaching “an understanding” with Rangers and the shirt’s manufacturers, Elite Sports, between September 2018 and July 2019.Elite Sports …
Business
Evening Standard
Pound steadies as Kwarteng heads for emergency meetings with banks
The pound steadied and the bond market held firm today, easing fears of a currency crisis following yesterday’s spectacular sell-off.On Monday sterling plunged to an all-time low of $1.035 as the market reacted fiercely to the government plans to fund tax cuts with fresh borrowing.Today it edged up slightly to $1.078, a relief to both …
Business
Evening Standard
Virgin Atlantic joins global airline alliance
Virgin Atlantic has announced it has joined global airline alliance SkyTeam.The announcement means some members of Virgin Atlantic’s frequent flyer scheme will have access to more than 750 airport lounges around the world.Other benefits for passengers include extra baggage allowances and reward points when flying with other SkyTeam airlines such as Aeromexico, China Airlines and …
Business
Business Live
Premier Inn unveils St Ives hotel plans for care home site
Premier Inn has unveiled plans to build a 100-bed hotel on the site of a care home in St Ives, Cornwall. The national chain has proposed the £10m hotel could be built on the current site of the Trewidden Care Home, Trewidden Road next to Trenwith Car Park. If approved, parent company Whitbread said the …
Business
Business Live
SETsquared Bristol relaunches bursary for minority ethnic tech founders
Bristol entrepreneurs from ethnic minority backgrounds are being encouraged to apply for a bursary aimed at boosting inclusivity in the tech industry. Technology incubator SETsquared Bristol is relaunching its ‘Breakthrough Bursary’ for 2022 and is calling on business owners in the tech sector to apply. The bursary provides access to tailored business support at discounted …

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