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Sky News
Royal Mail losing £1m a day, chairman says
Royal Mail is losing £1m a day, its chairman has revealed.The business reported an adjusted operating loss of £92m between April and June – the first financial quarter. Chairman Keith Williams blamed the slump on a decline in parcel volumes and a lack of progress in “delivering efficiencies”.Mr Williams said: “The pandemic boom in parcel …
Business
Evening Standard
Inflation rises to fresh 40-year high of 9.4%
Inflation hit a fresh 40-year high in June when it rose to 9.4 per cent, official figures have revealed.Soaring energy and food bills and the rising cost of filling up the car with fuel were once again largely responsible for the rise in the headline measure of the cost of living in June, the Consumer …
Business
Evening Standard
Two thirds of finance heads braced for recession next year
Almost two thirds (63%) of finance leaders are expecting a recession next year as the economy is battered by rising inflation and intensifying economic headwinds.According to the latest UK CFO survey from business consultants Deloitte more than two-thirds of those surveyed (68%) believe high inflation will continue, anticipating it to remain higher for longer, and …
Business
Evening Standard
Third of homeowners gained £50k in property value during pandemic
A third of homeowners have made more than £50,000 on their property during the duration of the coronavirus pandemic, according to online property platform Zoopla.The value of UK homes combined has also passed the £10 trillion mark for the first time, based on the value of Britain’s 29.5 million homes adding nearly a 15% increase …
Business
Sky News
NHS staff get 4.5% pay rise, teachers 5% and police £1,900 – but unions say it is ‘kick in the teeth’
NHS staff will get at least a 4.5% pay rise, teachers at least 5% and police officers will receive £1,900 after a public sector pay review – but unions said it was not enough.All police ranks will get the same amount of extra pay from 1 September, with those on the lowest pay getting an …
Business
Sky News
Sharper rate hike is ‘not locked in’ as economy slows, Bank of England governor to say
The governor of the Bank of England is to warn that the prospect of a sharper increase in Bank rate next month is “not locked in” amid growing evidence of an easing in economic growth and in some inflationary pressures.Andrew Bailey was expected to tell the City of London’s annual Mansion House dinner that while …
Business
Sky News
How much more does a pint cost in London? How inflation is affecting different parts of the UK
Across the country in June, inflation is at its highest rate in 40 years, but Sky News analysis of the latest ONS figures shows that shoppers in London are facing price rises that double those seen in Yorkshire.As well as London, prices in Wales and Northern Ireland have risen by more than 10% compared with …
Business
Sky News
Postal workers vote by 97.6% to strike over pay and jobs row
Late-summer strikes by 115,000 Royal Mail workers have moved a step closer after an overwhelming vote in favour of walkouts, threatening massive disruption to postal deliveries across the country.The Communication Workers Union (CWU) said 97.6% of members who voted backed strikes in a 77% turnout, threatening the biggest strike action in the so-called summer of …
Business
Sky News
Inflation at 40-year high of 9.4% as cost of living crisis mounts
The rate of inflation has hit a fresh 40-year high, placing further strain on household budgets as the cost of living crisis mounts.British consumer price inflation reached an annual rate of 9.4% in June, up from May’s reading of 9.1%, the Office for National Statistics (ONS) said. It means Britain had the highest rate of …
Business
Sky News
Public sector pay rises – who decides and how?
Public sector workers including nurses, teachers and doctors have all had pay rises announced.They have received increases of between 4.5% and 9.3% but unions say most of the pay rises are not enough as they are less than half the current level of RPI inflation. As those in the public sector receive taxpayers’ money, the …
Business
Sky News
Heathrow faces strike this week after refuellers reject pay offer – as union warns of flight delays
Heathrow is facing a strike by refuellers this week after they rejected a revised pay offer, the Unite union has said.Unite warned that the three-day industrial action by staff at refuelling firm AFS, which starts on Thursday, would cause delays for hundreds of flights at Britain’s busiest airport. AFS (Aviation Fuel Services) provides fuelling services …
Business
Business Live
Swindon printing company devastated by fire and flood reopens
A Swindon printing company that was forced to close after the business was destroyed by flood and fire has reopened for business. Minuteman Press, in Old Town, shut its Newport Street premises in 2021 when a flood – and then a fire – ruined the entire contents of its ground-floor offices. The company has since …

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