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Evening Standard
Frasers Group delivers profit surge but warns over cost of living
Sports Direct’s parent firm, Frasers Group, has swung to a bumper profit for the past year and expects this to surge further, despite warning over the cost of living and supply chain pressures.The Mike Ashley-founded business hailed a strong performance despite a “significant increase” in running costs.The company, which also runs House of Fraser and …
Business
Evening Standard
Pfizer slapped with £63 million fine by CMA
The Competition and Markets Authority has slapped US pharma giant Pfizer with a £63 million fine after it was accused of overcharging the NHS.The CMA said the company had charged unfairly high prices for phenytoin sodium, an epilepsy drug, for over 4 years.Pharma firm Flynn was also charged £6.7 million as part of the CMA …
Business
Sky News
Pfizer fined for overcharging NHS for life-saving epilepsy drug
Two pharmaceutical companies have been fined after they overcharged the NHS for a life-saving epilepsy drug.The Competition and Markets Authority (CMA) fined Pfizer £63m and Flynn £6.7m after finding that they had “abused their dominant positions” in the market to charge unfairly high prices over a four-year period. NHS costs for the phenytoin sodium capsules …
Business
Business Live
British Business Bank has offered £135m in recovery loans to SMEs in Wales
A loans recovery scheme from the British Business Bank has provided £135m of lending to firms Wales since being launched in April last year. The Recovery Loan Scheme was set up by the UK Government’s economic development bank, which has a UK-wide remit to provide loans and equity firms, to help UK businesses recover and …
Business
Sky News
June record for UK govt interest payments, European gas supplies, and the cost of living
Ian King brings us the latest on government borrowing and catches up with the head of European gas at Energy Aspects, James Waddell, to discuss demand for the energy supply, after Russia turned taps back on having closed Nord Stream One for repairs.And Sky’s political correspondent Tamara Cohen talks to Boris Johnson’s cost of living …
Business
Evening Standard
Dunelm hires Whitbread boss Brittain to succeed Harrison as chair
Dunelm has appointed outgoing Whitbread boss Alison Brittain to succeed Andy Harrison in heading up the home furnishings retailer.She will take up the post of non-executive director and chair designate while formal proceedings are completed that will allow her to ascend to the top job. Brittain announced that she would step down from her role at …
Business
Evening Standard
Associated British Foods appoints M&S finance boss Tonge as CFO
Primark owner Associated British Foods (ABF) has appointed M&S finance head Eoin Tonge as CFO succeeding John Bason who will retire and will step down from the company’s board.Tonge who has held the position of CFO at high street retailer M&S since June 2020 was previously head of finance at convenience foods manufacturer Greencore and managing director and chief …
Business
Sky News
Without these chips, we are in big trouble – and Britain has no strategy
There are many factories around the world, but few look anything like semiconductor fabs.These places – fabrication plants, to give them their full name – are otherworldly in all sorts of respects. Bathed in yellow light and populated by workers wearing head-to-toe white suits, visiting one of them feels like entering the world depicted by …
Business
Evening Standard
Amateur investors keep on punting while professionals avoid shaky stock market
PROFESSIONAL investors are sitting on the sidelines nervous about the economy and wobbling markets, but the amateurs are still piling in, figures from two top City firms today suggest.IG and AJ Bell both said customers numbers are rising as clients they gained during lockdown keep on punting.While big fund managers have seen outflows of cash …
Business
Business Live
Insurance industry veteran Joe Henderson toasts flying start for new Attis operation as headcount hits 100
The new insurance company launched by industry veteran Joe Henderson MBE has surpassed all early expectations according to its proud chairman. Attis was launched in 2020 by the northern Lincolnshire professional services stalwart, almost three years after he sold his eponymous Henderson Insurance Broking Group to global giant Aon for £90 million. He backed a …
Business
Business Live
Tees Valley Lithium secures supply agreement with global raw materials firm Traxys
The company with plans to launch the UK’s first lithium hydroxide plant at Teesside Freeport has moved closer to signing a key supply deal with raw materials trader Traxys. Tees Valley Lithium (TVL), which is owned by Alkemy Capital Investments, revealed the news to shareholders saying the feedstock memorandum of understanding would see Traxys supply …
Business
Business Live
Devon’s tungsten mine still on for 2023 restart under revised plans
Production at a Tungsten mine in Devon could still restart in 2023 despite energy, fuel and construction costs “multiplying” in recent months, according to the firm behind it. Aim-listed Tungsten West said global crises in power and diesel prices and inflated construction materials costs had prompted it to re-evaluate its development plans for the Hemerdon …

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