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Evening Standard
Shepherd Neame back in black but warns London pubs are falling behind
Britain’s oldest brewer Shepherd Neame said it was back in the black today after two years of losses but warned sales at the firm’s London pubs had lagged well behind the rest of the country.The 400-year-old brewer, which makes Spitfire and Bishops Finger beer, posted profits of £7.4 million in the year to June 2022, …
Business
Evening Standard
Shepherd Neame boss warns further price increases ‘likely’ due to inflation
The boss of brewer and pub group Shepherd Neame has warned that further increases to the price of a pint are “likely” as surging costs continue.It came as the Kent-based company revealed a sharp rebound in sales and return to profit following the impact of the pandemic.However, chief executive Jonathan Neame said the group is …
Business
Evening Standard
Thousands of Post Office workers walk out in strike action
Thousands of Post Office workers have walked out on strike in a dispute over pay.Members of the Communication Workers Union are taking action for 24 hours in a separate row to the pay and conditions dispute in the Royal Mail.CWU official Andy Furey said the union had to call a strike because its legal mandate …
Business
Evening Standard
Chancellor Kwasi Kwarteng bids to reassure markets after IMF rebuke
Kwasi Kwarteng will step up efforts to reassure the City about his economic plans after the International Monetary Fund (IMF) criticised the Government’s strategy – and as the pound suffered further falls on Wednesday.The Chancellor remains under pressure to reassure the markets after the Bank of England suggested sharp interest rate rises could be on …
Business
Sky News
Chancellor holding meeting with bankers as fallout from mini-budget continues
Chancellor Kwasi Kwarteng is due to meet bankers today in an effort to calm nerves after his mini-budget spooked the markets and sent the pound crashing.The Treasury has categorically denied he will ask financiers not to bet against the pound, which has fallen to record lows against the dollar in recent days. He is also …
Business
Sky News
Boohoo blames cost of living crisis for slowdown in global sales as outlook darkens
Boohoo has warned of a focus on “cost efficiencies” ahead as part of efforts to navigate a slowdown in sales globally due to surging inflation.The online fashion retailer cut its full-year outlook while publishing results for the first half of its financial year to 31 August, saying it now expected revenue to fall over the …
Business
Sky News
Margarine prices jump – but some fruit and veg is cheaper
Shoppers are paying a record 10.6% more for food than they were a year ago, figures show.Overall, shop prices rose by 5.7% in the year to September, up from an inflation rate of 5.1% in August, in another record since the British Retail Consortium-Nielson IQ index began in 2005. Food price inflation rose past last …
Business
Sky News
Clear signal that Bank of England will raise rates even higher in November
Central bankers are often accused of speaking in code or of making Delphic pronouncements.William McChesney Martin, the longest-serving chair of the US Federal Reserve, was well known for it. So, too, was Paul Volcker, one of the greatest chairs the Fed has had, keeping up a nuanced commentary – often wreathed in cigar smoke – …
Business
Sky News
City investors press TP Icap for £1.5bn Parameta windfall
TP Icap, the interdealer broker, is coming under intense pressure from City shareholders to break itself up in a move they believe could trigger a £1.5bn capital return.Sky News has learnt that a number of the company’s most significant institutional investors have begun talks about moves to press TP Icap’s board into exploring a formal …
Business
Sky News
‘Significant’ interest rate rise to come, Bank of England chief economist suggests
The Bank of England’s chief economist has said the government’s mini-budget, which led to the pound falling to a record low against the dollar, will require “a significant monetary policy response”.Speaking at the International Monetary Policy Forum, Huw Pill reasserted the Bank of England’s willingness to act to rein in inflation. Mortgage repayments could rise …
Business
Sky News
Labour vows to create new publicly owned energy company – with a very patriotic name
Sir Keir Starmer has announced that a Labour government will create Great British Energy – a new, publicly owned company that will generate renewable sources “to cut bills, create jobs and deliver energy independence”.The role of GB Energy will be to provide additional capacity alongside the private sector, to establish the UK as a clean …
Business
Business Live
Adhesive manufacturer secures new logistics facility in Exeter
Adhesive manufacturer Forgeway is expanding its operations after securing a new facility at Exeter Logistics Park. The Devon firm, which is headquartered in Newton Abbot, has signed a 15-year lease on a 28,500 sq ft building, set for practical completion “within weeks”. The company, which produces glue used in industries such as aerospace, rail, construction …

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