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What does appointment for the Jacob Rees Mogg mean for the climate agenda?
Jacob Rees-Mogg took to Twitter soon after his appointment to say: “I look forward to serving the Prime Minister and the country during the challenging times ahead.” But what does that mean for attempts to replace a reliance on fossil fuels with renewable sources of energy including nuclear, offshore wind and solar energy? Optimism was …
Business
Business Live
Jobs at risk as last orders called for historic Jennings Brewery
Jobs have been put at risk after plans were revealed to close the historic Jennings Brewery in Cumbria. Carlsberg Marston’s Brewing Company (CMBC) said it aims to close the Cockermouth site in early October. CMBC added its logistics based at the site will continue to operate as normal while options are explored, including a potential …
Business
Evening Standard
M&C Saatchi profits slip as it books £8.4m costs fighting takeover
Advertising and marketing giant M&C Saatchi said it has spent £8.4 million fighting off two takeover moves over the past six months as it reported shrinking profits.Shares in the company slipped on Wednesday morning after it said statutory pre-tax profits tumbled to £0.3 million for the six months to June 30, from £4.8 million over …
Business
Evening Standard
Barratt posts record profits but adds to signs of cooling housing market
Housebuilder Barratt Developments has posted record annual figures but added to signs that Britain’s property market may be cooling as it said weekly buyer reservations have fallen below pre-pandemic levels.The UK’s biggest housebuilder reported underlying pre-tax profits at an all-time high of £1.05 billion for the year to June 30, up 14.7% on the previous …
Business
Sky News
Bank of England governor hails prospect of ‘important’ energy bill clarity in inflation fight
The governor of the Bank of England has told MPs he welcomes the prospect of a “clear policy stance” on tackling the surge in the energy bills, as markets fret over the country’s economy.Andrew Bailey said it was “important” that a clear way forward emerged following the end of the Tory leadership race, which coincided …
Business
Evening Standard
Crypto investors hold their breath as $200 billion at risk in Ethereum ‘merge’
Crypto investors across the world are holding their breath as one of the biggest digital currencies, Ethereum, begins its weeks-long transition to a proof-of-stake coin.The transformation of the $200 billion-market-cap cryptocurrency promises to deliver huge energy efficiencies, making Ethereum much more cost-effective to use compared to the market’s most popular coin, Bitcoin. But the scale …
Business
Evening Standard
WH Smith’s high street chain remains under pressure after Funky Pigeon cyber hit
Retailer WH Smith has seen sales at its high street arm remain below pre-pandemic levels after a hit from the recent cyber attack on its Funky Pigeon online greeting cards business.The group said it is looking to strip out more costs in the high street arm, with “significant” savings earmarked, “most notably through reductions in …
Business
Sky News
Trussonomics: The five key points – and will they work? | Ed Conway
The £100bn-plus energy relief package Liz Truss is expected to finalise this week is just one string in her economic bow.Here are five things you need to know about Trussonomics, the nickname some are giving to the new prime minister’s economic policy. 1. It’s a huge policy shiftThe first is that in one sense it …
Business
Sky News
Chancellor Kwarteng summons bank chiefs for economy crisis talks
The bosses of Britain’s biggest banks will hold talks with the new chancellor on Wednesday as he tries to exert a grip on the stalling UK economy.Sky News has learnt that Kwasi Kwarteng has convened a meeting with the chief executives of lenders including Barclays, Lloyds Banking Group and NatWest Group just hours after being …
Business
Sky News
UK founders urge PM Truss to back entrepreneurs competition
The co-founder of Lastminute.com and dozens of other leading British start-up founders are urging Liz Truss to host a new national competition for entrepreneurs as the incoming premier seeks ways to kickstart a faltering UK economy.Sky News has seen a letter signed by Brent Hoberman, co-founder of the online travel site, and Samir Desai, founder …
Business
Sky News
Truss energy cost shield spares UK from immediate pain but a big bill looms
Liz Truss will announce an extended freeze of energy prices this week intended to protect households and businesses from soaring costs in the first major act of her premiership.The massive intervention in energy markets will see bills for households remain at or below the current average of £2,000 a year, avoiding the scheduled 80% increase …
Business
Sky News
The big dilemma facing the European Central Bank this week
It was a startling and dramatic moment when, in July, the European Central Bank raised interest rates for the first time in 11 years.Not the timing of the rate rise – the bank’s president, Christine Lagarde, had primed markets for an increase back in June – even though it was an event on which few …

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