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Evening Standard
BrewDog criticises ‘clueless government’ as it closes six pubs over energy bills
The boss of BrewDog has said the craft brewer will shut six of its pubs after being hammered by soaring energy costs “with no prospect of any help from a clueless government”.James Watt, founder and chief executive of the company, said it took the decision as it believed it would “be simply impossible to get …
Business
Evening Standard
Small businesses face higher water bills as Ofwat looks at overhauling price cap rules
Ofwat is considering introducing new measures that would increase the price cap on water bills paid by the average small business in England, at a time when utility costs and how they are regulated are a hot political and social issue.The regulator is considering dumping regional limits on rates in England and bringing in a …
Business
Business Live
Shoppers hit by cost crunch sees sales fall for small businesses
Sales have fallen by a tenth for small businesses in Britain as customers tighten their belts in response to the cost-of-living crisis, according to figures. The Office for National Statistics (ONS) said sales values slid by 10% at small firms in July compared with the previous month, representing the heaviest fall since the onset of …
Business
Business Live
Wales’ first exotic animal vet practice opens following six-figure backing
Wales’ first dedicated exotic animal veterinary practice has opened following a six-figure investment. The new Cardiff-based independently-run Origin Vets Clinic opened last month after securing a £300,000 loan from the Development Bank of Wales. Employing seven members of staff, the clinic is located in a 3,000 sq ft unit at the Riverbridge Business Park off …
Business
Sky News
UK house price growth holds steady – but warning of sharp fall ahead
Annual house price growth in the UK slowed in August but remained in double digits for the tenth month in a row.House price growth fell to 10% last month, down from 11% in July, but actually increased when taking account of seasonal effects. Meanwhile, house prices have risen by almost £50,000 in two years.“There are …
Business
Evening Standard
Sales tumble 10% for small firms as cost crunch hits shoppers
British small businesses have seen sales plunge by a tenth as customers tighten their belts in response to the cost-of-living crisis, according to figures.The Office for National Statistics (ONS) said sales values slid by 10% at small firms in July compared with the previous month, representing the heaviest fall since the onset of the coronavirus …
Business
Evening Standard
Manufacturing sector shrinks for first time since May 2020 as recession looms
For the first time since workers were forced to down tools in the early days of the pandemic, production at the UK’s factories is falling, a new study has suggested.The Purchasing Managers’ Index (PMI) for the manufacturing sector fell to its lowest level in 27 months for August as the UK heads towards a recession.The …
Business
Sky News
UK manufacturing suffers steepest fall since May 2020
British manufacturing production and new orders collapsed in August, falling by the most in two years amid fears about a worsening economy.Last month’s output saw its largest contraction since the height of the pandemic in May 2020, according to the latest S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI). The index dropped to 47.3 from …
Business
Evening Standard
City row as investors claim Phoenix being sold on the cheap to Swiss giant
A DAVID and Goliath City battle broke out today when minority shareholders in Phoenix Global Resources vowed to fight off a £200 million takeover deal from Mercuria, a Swiss commodity behemoth with sales of $130 billion a year.Phoenix, chaired by Sir Michael Rake, the City grandee who has previously led BT, Easyjet and Great Ormond …
Business
Sky News
Russian oil boss who criticised war in Ukraine dies ‘after falling from hospital window’
The chairman of Russia’s second largest oil producer has died after falling from a hospital window in Moscow, according to reports in the country.Ravil Maganov, who was also vice president at Lukoil, had openly criticised the war in Ukraine. The 67-year-old was chair of the company’s board which called for the “soonest termination of the …
Business
Evening Standard
Barclays pulls out of Africa after selling off Absa stake
British banking giant Barclays has pulled out of Africa six years after first announcing exit plans.It said it has sold its remaining 7.4% stake in South African lender Absa, signalling the end of its 97-year presence on the continent.Barclays announced on Thursday that it had raised around £538 million from the sale of more than …
Business
Sky News
Households set to lose thousands of pounds in disposable income
British households are on course for the deepest living standards squeeze in a century, with real household disposable incomes expected to fall by 10% this year and the next.The warning comes in a new report by the Resolution Foundation, which said that real earnings are falling at their fastest rate since 1997, meaning that by …

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