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Soaring energy prices threatening Scunthorpe steelworks’ sustainability – claim jobs at risk as support sought
The owners of British Steel in Scunthorpe are understood to have requested an urgent package of financial support from the government to help meet rising energy costs. Funding, which could run into hundreds of millions, is said to be needed – as without it the two huge blast furnaces that drive steel-making will not be …
Business
Sky News
‘Lukewarm’ market response to Vodafone and Three UK merger talks
Vodafone and the owner of Three UK, CK Hutchison, have confirmed a Sky News story that they are hopeful of striking an agreement by the end of the year to establish a joint venture to create a market leading mobile network.Sky News City editor Mark Kleinman reported discussions between Britain’s third and fourth largest networks …
Business
Business Live
Brexit ‘freedom’ is bringing a freeport to Wales for the first time says Welsh Secretary
The Government is using its Brexit “freedom” to “bring a freeport to Wales for the very first time”, Welsh Secretary Sir Robert Buckland has said. Speaking to Conservative Party members at Birmingham’s International Convention Centre (ICC), Mr Buckland said: “We are using our freedom outside of the EU to bring a freeport to Wales for …
Business
Sky News
Tax rate U-turn lifts pound – but markets still fret over govt credibility
The pound and government bond yields have recovered some poise in the wake of the government’s U-turn on abolishing the top rate of income tax.Kwasi Kwarteng revealed early on Monday morning that the decision to axe the 45p rate – part of his growth plan revealed last month – would now not happen in April …
Business
Business Live
Bristol businesses vote to renew city centre BID for five more years
Business leaders in Bristol have voted overwhelmingly to keep running the business improvement district (BID) scheme in the city centre for another five years. Of the votes cast by eligible firms, 79% voted to renew the BID, which outlined its proposals earlier in July. Plans include how it will attract business, inward investment and people …
Business
Evening Standard
Tortilla Mexican Grill warns over £2.3m hit from protein and energy cost hikes
Restaurant group Tortilla Mexican Grill said it is facing a full-year hit of more than £2 million from soaring protein and energy costs.Shares in the FTSE-listed chain tanked after it warned over a “material” impact on profits over the second half of the year from inflation cost pressures that have hit the business.Its share price …
Business
Evening Standard
Lidl commits to 100% free range eggs by end of 2024
Supermarket discounter Lidl has committed to stocking only 100% free range eggs by the end of 2024 in a move that it said would reinforce the retailer’s “commitment to the welfare and conditions” in which hens are housed.Martin Kottbauer, chief trading officer at Lidl, said: “We know that, in addition to the taste, the welfare …
Business
Evening Standard
Kwasi Kwarteng: ‘Difficult call’ to attend post-budget drinks party
The Chancellor has admitted that attending a private champagne reception with bankers hours after he delivered his mini-Budget “probably wasn’t” the best idea.Kwasi Kwarteng was at the boozy party with hedge fund managers the night he announced his growth plan in Parliament.Following the sweeping tax cuts, the pound crashed to an all-time low of $1.03. …
Business
Evening Standard
Liz Truss and Kwasi Kwarteng U-turn on scrapping 45p tax rate
Kwasi Kwarteng stunned British politics on Monday with a screeching U-turn on his plan to axe the 45p rate of income tax.With the ink hardly dry on his mini-Budget ten days ago, the Chancellor abandoned the ditching of the top rate of tax.He also did not rule out another U-turn over his decision to lift …
Business
Sky News
Planned tax cut for top earners ditched as PM faced threat of rebellion
Chancellor Kwasi Kwarteng has confirmed that the government is axing plans to give the wealthiest 1% a tax cut following a bitter backlash from Tory MPs. Mr Kwarteng said in a tweet that the measure had become a “distraction” from his objective to grow the economy. He said: “We get it, we have listened.”Politics live: …
Business
Sky News
Train firm rolls out new tech to tackle ‘leaves on line’ autumnal delays
Leaves on the line disrupting train services promise to be a thing of the past for many more travellers with new technology being introduced by a major train operator.Northern, which runs nearly 2,000 daily services, is fitting a system to 16 passenger trains which will combat slippery rails by spraying water onto them. The Water-Trak …
Business
Evening Standard
Liz Truss does not rule out real-term benefits cuts but guarantees pension hike
Liz Truss has refused to rule out real-term cuts in welfare payments despite saying pensions would rise in line with inflation.The Prime Minister declined to commit to the annual uprating of benefits in line with inflation, as millions feel the pain of the soaring costs of energy and food.Ms Truss defended plans to cut the …

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