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Sky News
Government ‘asleep at the wheel’ as Ofgem director quits over energy price cap change
An Ofgem director has quit over the electricity and gas regulator’s decision to change the way it calculates the energy price cap, which she said will lead to much higher bills.The regulator confirmed to Sky News that Christine Farnish had stepped down from the board after disagreeing with the rest of its members over how …
Business
Sky News
Royal Mail workers vote to strike for second time this summer
Workers at Royal Mail have overwhelmingly voted to back further strikes over a pay dispute with the company, a key union has announced.More than 98% of staff represented by the Communication Workers Union (CWU) voted in favour of industrial action that is likely to involve 115,000 workers this summer. It will follow a strike by …
Business
Sky News
Inflation news is bad – but there is a glimmer of hope things might cool off
It will not feel like it, as consumers digest news that UK inflation has hit its highest level since before the Falklands War, but there are reasons to hope that inflation is coming close to its peak.That is because the price of a number of commodities – whose prices surged after Russian President Vladimir Putin …
Business
Business Live
Plans for 315 homes next to Gloucester train station submitted
A housebuilder has submitted plans to redevelop a former Network Rail depot in Gloucester and build 315 homes. Eutopia Homes acquired the eight-acre brownfield site, next to Gloucester train station, in 2021 and is now planning to transform it into 228 apartments and 87 townhouses. The plans for the redevelopment of the site went on …
Business
Sky News
Three things that need to happen for prices to return to normal
As the rising cost of living continues to put a strain on people’s lives, many have been wondering how and when things will get better.In a recent Q&A, Sky News readers asked questions on the crisis – one of which was: What has to happen for things to go back to normal? Our business presenter, …
Business
Evening Standard
Inflation hits fresh 40-year high of 10.1% as cost of living crisis deepens
Inflation accelerated in July to 10.1 per cent, the fastest rate since February 1982, official figures have revealed.The higher than expected jump in the cost of living comes the day after the Office for National Statistics (ONS) said wages were rising at just 4.7 per cent.Living standards are now falling more quickly than at any …
Business
Business Live
Boohoo invests in Revolution Beauty
Fast fashion giant Boohoo has announced a “strategic investment” in Revolution Beauty. Manchester-based Boohoo says its stake in Essex-based Revolution amounted to 7.1% of Revolution Beauty ‘s issued share capital. Revolution Beauty was founded by Adam Minto and Tom Allsworth in 2014. It launched on AIM last year. Boohoo said: “The investment builds upon the …
Business
Sky News
France has capped energy price rises at 4% – could UK do the same?
In January the French government forced state-owned energy provider EDF to cap price rises at 4% for a year – could the same be done in the UK and does it mean the French are better off?The measure has cost €8.4bn (£7bn) and will protect the majority of households from the huge energy bills hikes …
Business
Business Live
Bristol interior design firm to create ‘inspiring workspace’ at Bath Quays
A Bristol interior design company has been appointed to create an “inspiring workspace” for a financial services consultancy in Bath. Paramount will be responsible for transforming Altus’ new headquarters at the No 1 Bath Quays office building in the city centre. Altus, which has taken 9,445 sq ft of workspace on the top floor of …
Business
Sky News
How everyday items have risen in price in the past 12 months
UK inflation has surged into double digits for the first time in more than four decades.Consumer Prices Index inflation (CPI) soared to 10.1% in the 12 months to July, according to the Office for National Statistics (ONS). Here are some examples of how the cost of everyday goods and services has risen in the past …
Business
Evening Standard
Cineworld blames lack of blockbusters after ticket sales disappoint
Cineworld shares collapsed 40% this morning after the chain delivered a car-crash trading update that blamed disappointing post-pandemic ticket sales on a lack of blockbuster releases.The cinema operator said it was seeking new sources of liquidity to shore up its balance sheet which could result in “very significant dilution of existing equity interests” for shareholders.Its …
Business
Business Live
Former North East HMRC base transformed in £2.5m investment by new owners Kingscrown Group
A North East building that was home to HMRC for a 25 years has been sold and revamped to transform it into modern offices. North West-based commercial property investors Kingscrown Group have acquired the 36,000 sqft Waterside House from previous owners Topland Group, investing £2.5m to completely remodel and refit the building for hybrid working. …

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