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Evening Standard
FTSE 100: Markets rally as Johnson prepares to go
As Boris Johnson prepares his resignation speech, the FTSE 100 rallies 80 points to 7188. Miners and banks led the charge, with Anglo American up 105p to 2735p, and Standard Chartered up 22p to 600p.Over the three years of the PM’s reign, the leading index is down about 300 points overall, commentators note.FTSE 100 Live …
Business
Evening Standard
Cut rates to save high street, Currys says to new Chancellor Nadhim Zahawi
The new chancellor should make cutting business rates for retailers a top priority, said the boss of Currys today.Alex Baldock said the high street was been overpaying for too long. “Retail can’t keep paying 10% of business taxation when we are 5% of the economy,” he said.Baldock, a Tory supporter and donor, said his message …
Business
Evening Standard
FTSE 100: Markets rally as Boris Johnson prepares to go
On the face of it, the City might have looked like it was cheering the demise of Boris Johnson.As he was prepping his resignation speech, the FTSE 100 rallied 80 points to 7188. Miners and banks led the charge, with Anglo American up 105p to 2735p, with Standard Chartered up 22p to 600p.Under the surface …
Business
Sky News
Tax rises or spending cuts needed to avoid ‘unsustainable’ public debt, watchdog warns
Tax rises or spending cuts are needed to avoid an “unsustainable” public debt burden, the UK’s fiscal watchdog has warned.The Office for Budget Responsibility (OBR) said the government faces a debt burden three times more than its current level due to increasing costs from an ageing population and falling future tax revenues from motor fuel. …
Business
Evening Standard
London insurance business YuLife completes $120 million funding round
London-based insurance tech company YuLife has completed a $120 million funding round valuing the company at $800 million.The series C funding round was led by Dai-ichi Life, the third largest life insurer in Japan.YuLife’s mobile app rewards policyholders for completing wellness tasks such as running or cycling. Users of the app earn “YuCoin” which they …
Business
Sky News
Airports slammed as ‘woefully ill-prepared’ over ‘inexcusable’ travel chaos
Jet2 has criticised airports for being “woefully ill-prepared and poorly resourced”, which has led to “inexcusable” travel chaos.The holiday firm said customers have had to endure a “much poorer experience” than they should have, pointing to airports’ and ground handling suppliers’ “often atrocious customer service”, long queues, baggage handling problems, delays, and a lack of …
Business
Evening Standard
Business ‘crying out for leadership’, warns former CBI boss as political turmoil continues
Businesses are crying out for leadership, the former boss of the CBI has warned, as he called on new Chancellor Nadhim Zahawi to urgently slash taxes.With Boris Johnson fighting to hold on to office, Lord Karan Bilimoria, founder of the beer brand Cobra and ex-President of the Confederation of British Industry, told BBC Radio 4’s …
Business
Sky News
British Airways check-in staff strike suspended as company makes improved pay offer, unions say
British Airways (BA) workers have suspended a strike that had been planned at Heathrow during the school summer holidays after receiving a “vastly improved” pay offer from the airline.After extensive negotiations, the Unite and GMB unions said an agreement was reached and members involved in the dispute would now vote on the proposed offer. More …
Business
Sky News
BA staff strike suspended after improved pay offer
British Airways (BA) workers have suspended a strike that had been planned at Heathrow during the school summer holidays after receiving a “vastly improved” pay offer from the airline.After extensive negotiations, the Unite and GMB unions said an agreement was reached and members involved in the dispute would now vote on the proposed offer. More …
Business
Sky News
easyJet reported after families left to sleep on airport floor due to cancelled flights
Which? says it has reported easyJet to the Civil Aviation Authority, asking the regulator to investigate the airline’s treatment of passengers who have their flights cancelled.The consumer watchdog said it had heard from passengers who were not told about their legal right to hundreds of pounds in compensation and the chance to be re-routed with …
Business
Sky News
British Airways to cut a further 10,300 flights until end of October
British Airways (BA) has announced it will cut a further 10,300 short-haul flights until the end of October.The airline, among the worst hit by post-pandemic staff shortages that have resulted in widespread disruption for passengers this year, made the announcement just a day after another wave of cancellations was revealed in a bid to make …
Business
Sky News
Bank of England chief economist hints at bigger interest rate rises to tackle inflation
The Bank of England’s chief economist has hinted at bigger interest rate hikes to come in a bid to tackle soaring inflation.Huw Pill said he would be open to voting for a larger move than the 0.25 percentage point increases implemented so far if warranted. Speaking at a banking conference, he expressed his “willigness to …

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