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TfL secures £1.2bn funding but mayor warns fare increases and bus service cuts still likely
Transport for London has secured around £1.2bn in funding from the government, but the city’s mayor has warned the agreement is “far from ideal”.The funding package replaces TfL’s last bailout, which was the fourth since the beginning of the COVID-19 pandemic in early 2020. Transport for London commissioner Andy Byford said the agreement, which lasts …
Business
Sky News
TfL secures £1.2bn funding but mayor warns fares still likely to go up
Transport for London has secured around £1.2bn in funding from the government, but the city’s mayor has warned the agreement is “far from ideal”.The funding package replaces TfL’s last bailout, which was the fourth since the beginning of the COVID-19 pandemic in early 2020. Andy Byford, Transport for London commissioner, said the agreement, which lasts …
Business
Sky News
Musk continues effort to scrap Twitter deal after whistleblower claims
Tesla chief Elon Musk has filed more paperwork in an effort to terminate his agreement to buy Twitter.Mr Musk, the world’s richest person, walked away from his $44bn offer for Twitter in July, saying the company had misled him and regulators about the true number of spam accounts on the platform. According to a court …
Business
Sky News
Borrowing on credit cards grows at fastest rate since 2005
British households borrowed on their credit cards last month at the fastest annual rate in over 17 years, a potential reflection of consumers struggling to make ends meet as the cost of living crisis intensifies.According to data from the Bank of England, the annual rate of credit card borrowing in July was 13% higher than …
Business
Business Live
North East’s position as UK “hydrogen hub” hailed by NEPIC
The North East’s leading position on hydrogen has been hailed followed the inclusion of two regional projects in phase two of the Government’s Carbon Capture Usage and Storage Cluster (CCUS) Sequencing Process. Kellas Midstream’s H2NorthEast development and bp’s H2Teesside – both part ofThe Northern Endurance Partnership’s East Coast Cluster – now stand to benefit from …
Business
Evening Standard
Sainsbury’s to remove ‘use by’ dates from own-brand yoghurts to cut waste
Sainsbury’s is to remove ‘use by’ dates from 46 own-brand yoghurts and instead switch to ‘best before’ dates to let customers make their own decisions on whether the products remain good to eat.Some 54,000 tonnes of yoghurt is wasted a year – around half of it in unopened tubs – with consumers citing the date …
Business
Business Live
The entrepreneur looking to create a chain of Italian restaurants across Wales
A young entrepreneur has plans to build an Italian restaurant empire in Wales. Andreas Christou, 27, has big ambitions as he gears up to open his latest and fourth restaurant Casa Bianca restaurant in Merthyr, at the end of September. “Our dream is to be one of the biggest Italian chains in South Wales, that’s …
Business
Evening Standard
Spike in credit card borrowing adds to City fears and market jitters over UK economy
The pound fell to fresh lows, UK bonds came under severe selling pressure and there were signs that mortgage lending is tumbling in a move that could erode the strength of the housing market.A mixture of official figures and City sentiment combined to ensure another jittery day on the markets.Yesterday Goldman Sachs warned the UK …
Business
Evening Standard
Asda ‘in £450m bid for Co-op’s petrol stations’
Supermarket giant Asda has reportedly emerged as the frontrunner in the bid to take over the Co-op Group’s petrol stations for £450 million.The chain is in talks to buy the business as it prepares to move further into the UK’s convenience store market, according to Sky News.The deal could be confirmed as soon as this …
Business
Business Live
Joules shares drop after speculation that rescue talks with Next could be in trouble
Shares in Joules were down 10 per cent at one point this morning following speculation about whether or not a deal to sell part of the business to Next will go through. It followed media reports that a potential deal was faltering after the two fashion retailers failed to reach agreement over terms. Sky News …
Business
Business Live
Issa brothers-owned Asda ‘in £450m bid for Co-op’s petrol stations’
Asda, the supermarket giant owned by the billionaire Issa brothers, has reportedly emerged as the frontrunner in the bid to take over the Co-op Group’s petrol stations for £450m. Talks are being held by the chain as it prepares to move further into the UK’s convenience store market, according to Sky News. The deal could …
Business
Evening Standard
City workers fear job cuts as trades dry up
BANKERS returning to town after a good summer and a bank holiday can be forgiven for having less than a spring in their step.Some of them surely know their jobs are at risk.First some statistics: Refinitiv says that fees to banks from floats, takeovers and other market activity are down to $3.2 billion so far …

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