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20.07.2022 - 09:31
Business
Evening Standard
Morses Club shares dip 40% on scheme to address customer claims
Doorstep sub-prime lender Morses Club’s shares fell 40% in early trading this morning as it announced it was to enter a “potential scheme of arrangement” to address customer compensation claims that “could jeopardise the group’s future”.It said that a key objective of the potential scheme that has been identified to the regulator the Financial Conduct Authority (FCA) …
20.07.2022 - 09:26
Business
Business Live
Harworth Group reports strong first half but signals ‘uncertainty’ in UK market
Land regeneration outfit Harworth Group says the value of its portfolio will rise above predictions for the first half of the year. In an update to investors ahead of the Rotherham-based group’s half year results, Harworth said its 2022 performance would likely be weighted to the six months to the end of June, owing to …
20.07.2022 - 09:12
Business
Evening Standard
Royal Mail ponders break up as it loses £1m a day
ROYAL MAIL plunged to a dramatic loss and embarked on another corporate rebrand as it headed into a summer of strikes by unhappy workers.It is threatening a break up of the business which can trace its history back to 1516.Postal workers, among the feted heroes of the Covid crisis, voted yesterday for industrial action after …
20.07.2022 - 09:03
Business
Sky News
Loan scheme for small businesses to be extended by two years
A scheme offering government-backed loans to small businesses will be extended by a further two years, the business secretary has announced.Kwasi Kwarteng said on Wednesday: “Small businesses are the lifeblood of the British economy, which is why we are determined to support our traders and entrepreneurs in dealing with worldwide inflationary pressures. “The extension of …
20.07.2022 - 07:15
Business
Sky News
Royal Mail losing £1m a day, chairman says
Royal Mail is losing £1m a day, its chairman has revealed.The business reported an adjusted operating loss of £92m between April and June – the first financial quarter. Chairman Keith Williams blamed the slump on a decline in parcel volumes and a lack of progress in “delivering efficiencies”.Mr Williams said: “The pandemic boom in parcel …
20.07.2022 - 06:20
Business
Evening Standard
Inflation rises to fresh 40-year high of 9.4%
Inflation hit a fresh 40-year high in June when it rose to 9.4 per cent, official figures have revealed.Soaring energy and food bills and the rising cost of filling up the car with fuel were once again largely responsible for the rise in the headline measure of the cost of living in June, the Consumer …
20.07.2022 - 06:06
Business
Evening Standard
Two thirds of finance heads braced for recession next year
Almost two thirds (63%) of finance leaders are expecting a recession next year as the economy is battered by rising inflation and intensifying economic headwinds.According to the latest UK CFO survey from business consultants Deloitte more than two-thirds of those surveyed (68%) believe high inflation will continue, anticipating it to remain higher for longer, and …
20.07.2022 - 06:05
Business
Evening Standard
Third of homeowners gained £50k in property value during pandemic
A third of homeowners have made more than £50,000 on their property during the duration of the coronavirus pandemic, according to online property platform Zoopla.The value of UK homes combined has also passed the £10 trillion mark for the first time, based on the value of Britain’s 29.5 million homes adding nearly a 15% increase …
19.07.2022 - 15:09
Business
Sky News
NHS staff get 4.5% pay rise, teachers 5% and police £1,900 – but unions say it is ‘kick in the teeth’
NHS staff will get at least a 4.5% pay rise, teachers at least 5% and police officers will receive £1,900 after a public sector pay review – but unions said it was not enough.All police ranks will get the same amount of extra pay from 1 September, with those on the lowest pay getting an …
19.07.2022 - 14:51
Business
Sky News
Sharper rate hike is ‘not locked in’ as economy slows, Bank of England governor to say
The governor of the Bank of England is to warn that the prospect of a sharper increase in Bank rate next month is “not locked in” amid growing evidence of an easing in economic growth and in some inflationary pressures.Andrew Bailey was expected to tell the City of London’s annual Mansion House dinner that while …
19.07.2022 - 13:20
Business
Sky News
How much more does a pint cost in London? How inflation is affecting different parts of the UK
Across the country in June, inflation is at its highest rate in 40 years, but Sky News analysis of the latest ONS figures shows that shoppers in London are facing price rises that double those seen in Yorkshire.As well as London, prices in Wales and Northern Ireland have risen by more than 10% compared with …
19.07.2022 - 13:11
Business
Sky News
Postal workers vote by 97.6% to strike over pay and jobs row
Late-summer strikes by 115,000 Royal Mail workers have moved a step closer after an overwhelming vote in favour of walkouts, threatening massive disruption to postal deliveries across the country.The Communication Workers Union (CWU) said 97.6% of members who voted backed strikes in a 77% turnout, threatening the biggest strike action in the so-called summer of …
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