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York’s AgriSound secures £75k funding to pilot insect listening tech
A innovative firm that uses acoustic technology and environmental sensors to assess the activity of pollinating insects has secured £75,000 funding to trial its technology. York’s AgriSound has won the backing of Tesco and WWF to implement its process with one of the supermarket’s fruit suppliers based in Cambridgeshire. Using its bio-acoustic listening devices called …
Business
Business Live
Hundreds of former Greensill employees handed right to claim millions from collapsed firm
Hundreds of former employees of the collapsed financial services giant Greensill Capital Management have been handed the right to millions of pounds in damages after it was found that the company failed to collectively consult with them on their redundancy. The decision, which was made at Central London Employment Tribunal on Thursday, July 28, meant …
Business
Sky News
‘Strong argument’ interest rates should have been hiked sooner, business secretary says
Business Secretary Kwasi Kwarteng has said there is “strong argument” that the Bank of England should have raised interest rates “slightly sooner”.Mr Kwarteng was speaking on Sky News the day after the bank raised rates from 1.25% to 1.75% in an effort to get a grip on inflation, which has soared to 9.4% and is …
Business
Business Live
Tungsten Properties signs £250m JV funding agreement with BC Partners
An East Midlands-based warehouse and industrial developer has signed a £250 million joint venture funding agreement to give it the capital for big future developments. Tungsten Properties, based in Grove Park, Leicester, has struck the deal with London-based international investment firm BC Partners. The JV will have £250 million to target single and multi-let industrial …
Business
Business Live
Works start on £300m Sheffield scheme with potential to create 8,000 jobs
The first phase of a £300m development with the potential to create up to 8,000 new jobs is now under way in Sheffield. Legal & General and Urbo (West Bar) Limited – a joint venture between Urbo Regeneration and Peveril Securities – and partners Sheffield City Council are driving forward the mixed-use project which will …
Business
Business Live
Law firm Simpson Millar puts 100 jobs at risk with department closure plans
A law firm with offices across England and Wales has put 100 jobs at risk after it announced a company-wide restructure. Simpson Millar has said the move will “ensure that the business is operating in the most efficient way possible, and so that it can focus on further investment in its growth areas”. As part …
Business
Evening Standard
Car dealer Pendragon reverses away from takeover talks
Pendragon, the owner of the Evans Halshaw and Car Store brands, has said it is no longer in takeover talks with an unnamed potential suitor after one of its existing shareholders refused to engage with the bid.The company said the offer, from a “large international corporate”, was not going ahead after one of its five …
Business
Evening Standard
Soaring inflation stokes sharp rise in companies suffering critical financial distress
The extent of the economic threat posed to small businesses by the cost-of-living crisis and soaring inflation has been laid bare by the insolvency specialist Begbies Traynor just hours after the Bank of England’s stark warning of a long and deep recession.The business recovery consultancy’s “Red Flag Alert” found that almost 2,000 companies were in …
Business
Sky News
Sixteen million people cut back on food and essentials during cost-of-living crisis
Sixteen million people have cut back on food and essentials during the cost-of-living crisis.The figure is from the latest Opinions And Lifestyle Survey by the Office for National Statistics (ONS) and follows dire forecasts from the Bank of England of a 15-month recession ahead. The ONS survey showed that 89% of adults had seen the …
Business
Sky News
House price fall among slowdown signs after recession warning
Just a day after the Bank of England warned of a 15-month recession, there are signs in housing and recruitment that the slowdown is already well under way.Figures out on Friday showed that house prices fell in July (in monthly terms) for the first time in more than a year, with warnings that the market …
Business
Sky News
Gordon Ramsay’s restaurant empire eyes inflation hit after annual losses grow to £6.8m
Gordon Ramsay’s restaurant group has revealed widening financial losses and the loss of 300 staff while grappling COVID disruption.The celebrity chef’s empire reported combined losses of £6.8m for the 12 months to August 2021 – up from £5m in the previous financial year. Gordon Ramsay Restaurants, which operates 35 sites in the UK and 13 …
Business
Evening Standard
Bank of England unveils biggest interest rate rise in 27 years
The Bank of England raised interest rates by half a percentage point on Thursday in the biggest increase in the cost of borrowing for 27 years.It is the sixth consecutive hike from the Bank’s Monetary Policy Committee (MPC) since December and lifts its key lending rate from 1.25 per cent to 1.75 per cent.The move, …

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