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Somerset and Devon digital schemes land £2m cash boost
A pair of programmes providing digital skills and business support in Somerset, Devon, Plymouth and Torbay have received a £2m cash injection from the Heart of the South West LEP. The Digital Skills Programme will be delivered through Devon County Council, while the Digital Skills Utilisation Programme will be delivered by the local authority and …
Business
Evening Standard
City watchdog warns buy-now-pay-later firms to follow rules on social media promotions
T he City’s main financial watchdog has warned firms offering buy-now-pay-later services that they could be committing criminal offences if their promotions don’t include “fair and prominent warnings” of the risks the products pose to customers.The Financial Conduct Authority says it has seen adverts on social media and websites — including posts by “social media …
Business
Business Live
Triodos Bank sees fall in profits amid ‘challenging’ economic climate
Ethical bank Triodos has reported a drop in profits for the first half of the year amid “challenging” geopolitical and economic conditions. The European bank, which has its UK headquarters in Bristol, said net profit fell to €18.8m (£15.9m) after tax for the first six months of 2022 – down from €27.7m in the same …
Business
Evening Standard
Inflation fuels jump in Government debt costs as borrowing hits £4.9bn
Interest payments on Government debt jumped by almost 40% last month as rocketing inflation continues to add to state borrowing, according to official data.The Office for National Statistics (ONS) said Government borrowing hit £4.9 billion in July.It is significantly ahead of the predictions of analysts, who had forecast £2.8 billion in borrowing last month, and …
Business
Evening Standard
Upscale high street retailer Joules hits financial buffers
Troubled high street retailer Joules has hit the financial buffers releasing a widely downbeat update on recent trading at the country lifestyle chain predicting a “significant” loss for the first half of the year.In the update, released this morning (Friday), the favoured outlet of William and Kate the Duke and Duchess of Cambridge said that …
Business
Evening Standard
Retail sales lift but shoppers are making cutbacks in the long term – ONS
UK retail sales picked up in July but continued to show longer-term signs that consumers are making cutbacks to save money amid soaring inflation, according to official figures.Sales lifted by 0.3% in July, significantly higher than economists’ expectations of a 0.2% drop, the Office for National Statistics reported.But sales fell by 1.2% in the three …
Business
Sky News
Retail sales recover slightly in July with 0.3% rise but long-term decline persists
UK retail sales rose in July but the longer-term downward trend in consumer spending shows no sign of abating, official data shows.Sales increased by 0.3% in July, which was much higher than economists’ forecasts of a 0.2% drop, according to the Office for National Statistics. But sales fell by 1.2% in the three months to …
Business
Sky News
More transport misery as London Underground and bus staff begin latest walkout
Workers on the London Underground are staging a 24-hour walkout in a continued row over jobs and pensions.Members of the RMT union are striking today, along with some of their Overground colleagues, closing large parts of the Tube network for the day. Most buses across west and southwest London will also not run as a …
Business
Evening Standard
Consumer confidence hits record low amid ‘acute’ cost-of-living concerns
Consumer confidence has hit a record low amid “acute concerns” in the face of the soaring cost of living and bleak economic prospects.GfK’s long-running Consumer Confidence Index fell three points in August to minus 44, its lowest figure since records began in 1974.All five measures that make up the index fell last month, including confidence …
Business
Sky News
Consumer confidence hits rock bottom amid ‘acute concerns’ about cost of living
Consumer confidence is at an all-time low in light of “acute concerns” about the soaring cost of living and bleak economic outlook, according to new research.GfK’s Consumer Confidence Barometer, which has run since 1974, provides a monthly snapshot of the public mood on crucial economic issues. The group’s index decreased by three points in August …
Business
Sky News
Germany to miss gas storage target amid warnings of winter shortages
Germany will fail to meet its gas stocks target set by the government to avoid a winter energy crisis amid a Russian supply squeeze, the country’s regulator has warned.Klaus Mueller, president of the Federal Network Agency, said there was “hardly a chance” of meeting the November benchmark because some storage sites were already depleted. He …
Business
Sky News
Sir Jim’s determination should on no account be underestimated
One view of Sir Jim Ratcliffe in the business world is that he is an opportunist, an astute trader who likes to buy assets from distressed sellers at low-ball prices.That characterisation – that he is the chemicals industry’s equivalent of rag-trade king Sir Philip Green – is rather unfair. Yes, Sir Jim is an exceptionally …

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