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New MD as MFG Solicitors rings the changes
A West Midlands law firm has appointed a new managing director as part of a series of board changes. Conveyancing partner Andrew Davies has taken over the role at MFG Solicitors, having joined the practice in 2003, replacing Suzanne Lee who has held the role for ten years. Mr Davies has sat on the firm’s …
Business
Business Live
Sainsbury’s talks to sell 18 stores in leaseback deal collapse
Sainsbury is no longer in discussions with a real estate company LXi REIT to sell and lease back 18 of its branches. The supermarket chain announced on September 21 that it was in talks to sell off a number of its stores in the South of England in a deal estimated to be worth around …
Business
Sky News
OECD predicts $2.8trn hit to global economy next year with UK flatlining entirely
The global economy will suffer a $2.8trn (£2.6trn) hit next year in the wake of Russia’s war in Ukraine, according to an international policy forum that is predicting zero growth for the UK.The Organisation for Economic Cooperation and Development (OECD) said its projection for lost output worldwide was based on a comparison between its pre-invasion …
Business
Evening Standard
Electric car drivers hit by 42% hike in price of public chargers
Electric car owners have suffered a 42% hike in the cost of using public rapid chargepoints in just four months, according to new figures.The RAC said the average price for using the chargers on a pay as you go basis has increased by 18.75p per kilowatt hour (kWh) since May, reaching 63.29p per kWh.This rise …
Business
Evening Standard
UK economy to grow slower than previously predicted in 2022, says OECD
The UK economy will grow less than previously predicted this year and flatline entirely in 2023, according to a new report.The OECD (Organisation for Economic Co-operation and Development) said it has downgraded its current annual projection for the UK economy due to “declining real incomes and disruptions in energy markets”.Gross Domestic Product (GDP) is set …
Business
Sky News
Five reasons why the pound’s ‘doom loop’ matters to you
The overnight fall in the value of the pound, descending to its lowest level against the dollar since decimalisation in 1971, matters because of what it says about global market confidence in the UK economy.The plunge in sterling’s value, against a backdrop of a strong dollar globally, gathered speed on Friday following the publication of …
Business
Sky News
Pound sinks to record low against the dollar leaving Bank of England facing pressure to act
The pound has fallen to a record low against the dollar, sparking market speculation that the Bank of England may be forced to intervene.A statement from the bank was expected later on Monday after sterling slipped by nearly 5% earlier in the day to $1.0327 – building on fresh 1985 lows seen on Friday after …
Business
Sky News
Bank of England ‘will not hesitate to change interest rates as necessary’ after pound’s fall
The Bank of England says it “will not hesitate to change interest rates as necessary” after markets reacted badly to the chancellor’s tax-cutting mini-budget.In a statement, the Bank said it was “monitoring developments in financial markets very closely in light of the significant repricing of financial assets”. It came after the pound fell to a …
Business
Evening Standard
Labour pledges to use state-owned investment fund to ‘build British industry’
A Labour government would set up a state-owned investment fund so the British state could invest directly in productive projects and create a return for taxpayers, the shadow chancellor has said.Ahead of her speech at the Labour conference, Rachel Reeves set out the party’s mission to “build British industry”, investing in national projects from battery …
Business
Evening Standard
Labour should be bold on energy policy, union boss says
A senior union leader has urged Labour to be more bold to press home the “clear blue water” that now exists between the party and the Government.Unite general secretary Sharon Graham spoke to union members in Scotland while Labour’s annual conference was being held in Liverpool.She said “trickle down” economics will fail, pointing to the …
Business
Sky News
Labour pledge to ‘build British industry’ through state-owned investment fund
Labour will pledge to “build British industry” through the use of a state-owned investment fund during the second day of the party’s conference in Liverpool.In her speech later today, Rachel Reeves, the shadow chancellor, will set out the party’s industrial strategy, which includes promises to invest in national projects from battery factories to clean steel …
Business
Sky News
Car dealer Pendragon gears up for £400m bid from top investor
Pendragon, the London-listed car dealer behind brands including Evans Halshaw and Stratstone, has received a fresh £400m takeover approach from its largest shareholder.Sky News has learnt that Hedin Group, which owns roughly 26% of Pendragon, has tabled a 29p-a-share offer for the company. The approach is expected to be confirmed in a stock exchange announcement …

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