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Bath’s historic Newark Works transformed into £5m creative hub
A historic industrial works in Bath has been transformed into a huge new creative hub for businesses in the city following a £5m redevelopment. Newark Works in Bath Quays South was formerly home to Victorian engineering company Stothert and Pitt, which was founded in 1785 and developed the first steam crane in 1851. The 40,000 …
Business
Evening Standard
Hotel Chocolate shares plummet 42% after overseas expansion setbacks
Shares in luxury retailer Hotel Chocolat plummeted 42% in early trading this morning as the chocolatier’s strong UK sales were overshadowed by setbacks in its overseas operations.In a trading update the company said it expects to make a loss after taking a £3 million hit from closing all five of its US stores in a …
Business
Evening Standard
Shares in furniture retailer Made fall on 19% sales dip
Online furniture retailer Made.com has issued a dire warning over trading in the home furnishings market and announced a strategic overhaul of its business including potential lay-offs across the group.The London-based company set up by Lastminute.com founder Brent Hoberman and entrepreneur Ning Li that has a large following among urban professionals said its sales for the first …
Business
Evening Standard
Real pay dropping at fastest rate since records began
The growing squeeze on people’s pay packets was laid bare on Tuesday as official figures showed real wages are dropping faster than at any time since records began.Although regular pay excluding bonuses grew by 4.3 per cent between March and May 2022, that is less than half the rate of inflation in May of 9.1 …
Business
Sky News
Dog food, butter and milk see biggest price hikes as annual supermarket bill set to rise by £454
Annual grocery bills have risen by £454, according to closely-watched industry data tracking the cost of thousands of everyday products.The latest report on the supermarket sector, released by Kantar Worldpanel, showed price inflation stood at 9.9% in early July – the second-highest level it had ever recorded since comparable records began in 2008. It noted …
Business
Sky News
Real wages see record plunge over three months as public sector workers worst affected
Regular pay has seen the biggest plunge in more than 20 years when rising prices are taken into account, according to the Office for National Statistics.Real wages, excluding bonuses, fell an average of 3.7% over the three months to May, representing the worst annual drop since records began in 2001. “Following recent increases in inflation, …
Business
Sky News
Amazon files lawsuit against 10,000 Facebook groups designed to create fake reviews
Amazon has filed a lawsuit against the administrators of more than 10,000 Facebook groups which attempt to orchestrate fake reviews in exchange for money or free products. The groups are set up to recruit individuals willing to post incentivised and misleading reviews on Amazon’s online stores in the US, the UK, Germany, France, Italy, Spain, …
Business
Sky News
Zahawi sits on Tory leadership fence ahead of Mansion House address
Nadhim Zahawi, the chancellor, has been advised by civil servants not to declare his formal backing for any of the Conservative Party leadership candidates in order to preserve his place at this week’s Mansion House dinner.Sky News has learnt that Mr Zahawi was told several days ago that his neutrality after his own exit from …
Business
Evening Standard
Goldman shares jump as banker pay cut by 40%
Pay and bonuses at US investment bank Goldman Sachs plunged 40% as the company posted results that beat analyst expectations.The total payroll bill for the company came to $7.8 billion in the six months to June 30, 2022, compared to $11.3 billion a year prior, representing a 40.3% fall in pay per head from $277,000 …
Business
Sky News
Starling pulls Irish bank application as international focus shifts
One of Britain’s most valuable digital lenders has withdrawn its application for an Irish banking licence, signalling a shift in its international expansion strategy.Sky News has learnt that Starling Bank told its 2,000 employees on Monday that it had ended a four-year process aimed at launching a retail bank in Ireland. In a memo to …
Business
Sky News
More than 40,000 BT workers to begin strike action at the end of July, union says
More than 40,000 BT workers will go on strike on 29 July and 1 August, the Communication Workers Union (CWU) has said.The union said the industrial action may cause “significant issues” for those working from home and is likely to have a “serious effect” on the roll-out of ultra-fast broadband. BT staff voted last month …
Business
Sky News
More than 40,000 BT workers set to strike over pay
More than 40,000 BT workers will go on strike on 29 July and 1 August, the Communication Workers Union (CWU) has said.The union said the industrial action may cause “significant issues” for those working from home and is likely to have a “serious effect” on the rollout of ultra-fast broadband. BT staff voted last month …

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