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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 …
Business
Business Live
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 …

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