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Kremlin says it can’t rule out sabotage after mysterious damage to Russia-Germany gas pipelines prompts warnings
The Nord Stream pipeline network, part of which supplies Germany with gas from Russia, has been damaged in three places, its operator has said.The damage to the gas pipeline system on the bed of the Baltic Sea – all caused in one day – was “unprecedented”, Nord Stream AG added. The Kremlin said on Tuesday …
Business
Sky News
Most energy suppliers are told to improve support for struggling customers as bills rise
The energy regulator has revealed that the vast majority of the country’s energy suppliers have been told to make improvements in how they handle customers struggling to pay their bills.Ofgem said its review of supplier compliance found that only one firm, British Gas, was meeting its obligations and the rest had to step up at …
Business
Sky News
Pound steadies as markets expect Bank of England action to prop up UK currency
The collapse of the value of the pound in the wake of Friday’s mini-budget appears to have stalled, for now, but only thanks to market expectations that the Bank of England will still be forced to intervene.The rout for sterling, which began after Chancellor Kwasi Kwarteng revealed a £45bn tax cut plan on top of …
Business
Sky News
Mortgages withdrawn from sale as market reels after mini-budget
The market turmoil caused by Friday’s seismic mini-budget has hit mortgage offerings as providers withdrew partial and entire lending ranges. Virgin Money and Skipton Building Society have temporarily withdrawn their entire mortgage product range, while Halifax, the country’s largest mortgage lender, said it is to remove fee-paying mortgages. Fee-paying mortgages allow borrowers to pay a …
Business
Sky News
Boots executive Gourlay in talks to join Holland & Barrett owner LetterOne
A former executive at the owner of Boots is in discussions about joining the board of the Russia-linked vehicle which owns Holland & Barrett.Sky News has learnt that Alex Gourlay, who stepped down as co-chief operating officer of Walgreens Boots Alliance earlier this year, is in advanced talks to become a non-executive director of LetterOne. …
Business
Sky News
Pound plunges, Italy moves to right and huge investment in electric vehicle chargers
The pound fell to an all-time low against the dollar, Giorgia Meloni looks set to become Italy’s new prime minister and millions are being put into delivering on-street electric vehicle chargers.:: Listen and subscribe to The Ian King Business Podcast here. Advertisement
Business
Business Live
NatWest lost £9m as UK’s largest roofing contractor Avonside collapsed into administration
NatWest lost more than £9m after the UK’s largest roofing contractor collapsed into administration, it has been revealed. Reports started circulating towards the start of September about the imminent failure of Heywood-based Avonside Group before restructuring firm Begbies Traynor was appointed as administrator on Wednesday, September 7. In a statement issued at the time, the …
Business
Business Live
Matalan hires former New Look CEO to oversee sale
The founder of Matalan has stepped down as chairman to make a bid for the retail chain after it was put up for sale. John Hargreaves founded the Liverpool-headquartered company in 1985 and only returned as chairman in July after executive chair Steve Johnson stepped down. Senior non-executive director Tim Isaacs will become interim chairman …
Business
Evening Standard
Bank of England faces growing pressure for emergency rate rises as bond yields jump
Government bond yields surged as the City bet on emergency hikes in interest rates and financial markets gave a firm beating to the pound and other UKassets today.Sterling fell to lows not seen in a generation and lifted the returns investors were demanding to lend to the UK past 4%.That was taken as a clear …
Business
Evening Standard
Pendragon eyes up £400m takeover offer
UK car dealership Pendragon has received a £400 million takeover offer from its major shareholder, sending its shares soaring by more than a fifth on Monday morning.The bid would see Swedish motor company Hedin Group buy out the entirety of Pendragon’s share capital at 29 pence per share.The group already owns 26% of Pendragon, while …
Business
Evening Standard
Climate review to deliver big bang moment for net zero, says leading green Tory
A leading Conservative environmentalist has launched an inquiry into how the UK can fight climate change while maximising economic growth.Chris Skidmore, a former energy minister, has been commissioned to carry out the three-month review by Business Secretary Jacob Rees-Mogg, whose appointment was criticised by environmental groups due to his criticism of “climate alarmism” and support …
Business
Business Live
Graphene firm Versarien secures deal with Brazilian sportswear brand
Graphene manufacturer Versarien has secured a deal which will see a Brazilian sportswear brand use its technology in a new clothing range. The advanced engineering materials company, which is based in the Forest of Dean in Gloucestershire, has reached a commercial agreement with Bia Brazil after 16 months of “extensive trials” with the firm’s local …

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