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Evening Standard
West End revival as fight grows for best office space
Competition for West End offices is soaring despite the growth of remote working as employers snap up the best space to help hold on to valued staff.Demand for offices was up 62% in the second quarter of the year, according to new data from BNP Paribas Real Estate. There were 164 deals for 1.21 million …
Business
Evening Standard
PwC fined £1.8 million for BT Italy audit failures
The UK’s regulator the Financial Reporting Council (FCR) has fined PwC £1.8 million for the way it handled auditing of FTSE 100 telecoms company BT.The fine was cut from £2.5 million after PwC held its hands up to the failure in its proceedings. The accounting anomalies amounted to £512 million. PwC had failed to present sufficient or solid …
Business
Sky News
Fuel prices slowly falling in the UK as recession fears outweigh ‘war premium’
Petrol and diesel prices are slowly but steadily falling in the UK, latest figures show.The average price for a litre of unleaded on Saturday, the latest figure available, was 177.46p, according to the RAC, while diesel cost an average of 188.23p. On Thursday, the prices had been 178.93p and 189.3p respectively.It comes as world oil …
Business
Evening Standard
Grim read reveals just how bad the near future will be
If you are having a difficult Monday — perhaps a first day back in from summer hols — I urge you to avert your gaze from the analysis of prospects for the UK economy published today by Saxo Bank.It is a truly grim read. Titled ‘Emerging Market Britain’ it sets out why the gloomy headlines …
Business
Evening Standard
SoftBank posts record £19bn loss as tech investments flop
Japan-based technology investment firm SoftBank posted a staggering $23 billion (£19 billion) net loss this morning, the largest in the company’s history as it became the latest victim of surging inflation and global recession fears.The results add further pain on top of the $26 billion loss its Vision Fund posted in May. The firm’s Vision …
Business
Business Live
New apprenticeship academy to launch in Birmingham
A new apprenticeship academy aimed at hiring the next generation of talent in the media and creative industries is set to open in Birmingham. London-based The&Partnership has announced its new project, called ‘The&Academy’, will launch in the Custard Factory in Digbeth. The&Partnership is an independent, creative agency working in sectors such as advertising, marketing and …
Business
Evening Standard
Fine wine connoisseurs up spend in face of economic downturn
Connoisseurs and “wealthy’ collectors are lining up to beat the global economic squeeze by investing in fine wines and single malts as inflationary pressures take hold.Supplier and retailer Bordeaux Index upped sales by 37% in the first half of the year and revenues at the group reached £80 million in the period until the end of June.LiveTrade, …
Business
Business Live
Electric vehicle charging firm Zap-Map secures £9m in latest funding round
Bristol electric vehicle (EV) charging company Zap-Map has secured £9m in a Series A funding round. The firm, which runs an app and digital platform that allows users to find EV charging points, was valued at £26.3m following the raise. The company received a £3.7m investment from its majority shareholder, Wiltshire-based Good Energy, and a …
Business
Evening Standard
The Works cuts its outlook for 2023 ahead of a cost-of-living Christmas on the UK high street
The Works has become one of the UK’s first big-name high street retailers to directly address the prospect of a cost-of-living Christmas, cutting its full-year guidance for its 2023 financial year. The discount books, toys and art materials chain pointed to “low consumer confidence and rising inflation” and “a heightened degree of uncertainty about how …
Business
Sky News
Who is going on strike this month and when
Workers in many sectors are ramping up their calls for better pay and conditions, particularly as the cost-of-living crisis starts to bite.Keep track of what’s going on with this calendar: Saturday 13 August• 24-hour walkout by members of the Aslef union, affecting Arriva Rail London, Avanti West Coast, Crosscountry, Greater Anglia (including Stansted Express), Great …
Business
Business Live
PwC handed £1.8m fine over BT audit work
Big Four accounting firm PwC has been fined £1.75m by the accounting watchdog over its audit work for BT carried out in the wake of fraud in the telecoms giant’s Italian operations in 2016. The Financial Reporting Council (FRC) said it also fined audit partner Richard Hughes £42,000 over the BT work. Both PwC and …
Business
Evening Standard
Page Group spots signs of a summer slowdown after higher wages fuel record profits
Page Group, the recruitment consultancy, has said there are signs of a slowdown in the time taken to hire personnel in some of its markets after wage inflation in a tight labour market lifts its fee income fuelled record profits.“In July, we noted a slight slowing in time to hire in some of our markets, …

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