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Sky News
Chancellor’s cost of living package ‘lowers risk of recession’
The chancellor’s cost of living package lowers the risk of a recession, leading economists have said.In its latest forecast, the Bank of England had warned that growing pressure on household finances would lead to a deep economic downturn, suggesting that gross domestic product, the most comprehensive measure of economic growth, would contract by nearly a …
Business
Evening Standard
Don’t hate crypto, it is the future of the internet
IN the wake of the (most) recent crypto crash, it is tempting to jump on the naysayer’s bandwagon.The Financial Times recently wrote on The Moral Case Against Crypto, saying crypto evangelists “are relying on the ‘greater fool’… continuing to believe … lies and perpetuating their dishonest schemes.”This week in the Evening Standard, Andy Bell, founder and chief …
Business
Evening Standard
Building sector faces ‘perfect storm’ from inflation and staff shortages
The building industry is facing a “perfect storm” due to inflationary pressures hiking prices of materials combined with logistics issues and staff shortages.According to the latest Builders Merchant Building Index from national trade body the Builders Merchants Federation (BMF) prices of materials skyrocketed by 16% during the first quarter of the year and the value of …
Business
Sky News
Fuel prices reach new record highs – with petrol at 171.1p a litre and diesel at 181.6p
Average petrol prices have reached a new record high of 171.1p a litre, new figures show.The average price for diesel reached 181.6p a litre on Thursday, according to data firm Experian Catalist – another record. Filling up a typical 55-litre fuel tank with diesel now costs about £100.RAC fuel spokesperson Simon Williams said: “While the …
Business
Sky News
Cost of living crisis, legal trouble for Elon Musk, and Chelsea Flower Show
Sky’s Ian King unpacks the chancellor’s multi-billion-pound support package to help households with the cost of living. He’ll also speak to the new headline sponsor of this year’s Chelsea Flower Show. Meanwhile, Elon Musk is being sued by investors in Twitter.:: Listen and subscribe to The Ian King Business Podcast here. Advertisement
Business
Business Live
Missguided on the brink of collapse a month after cutting jobs and Nitin Passi quit as CEO with suppliers owed millions
Online fashion giant Missguided is on the brink of collapse a month after cutting 63 jobs and its founder stepping down as chief executive. The Manchester-headquartered company appointed Teneo “to explore strategic options for the business” in April but has now been issued a winding-up petition by suppliers owed millions. The company is now understood …
Business
Evening Standard
City fears Sunak energy deal may force Bank of England’s hand on rates
THE BANK of England may be forced to shove up interest rates even quicker than it was planning following Rishi Sunak’s dramatic intervention in energy markets, the City warned today.That in turn will increase borrowing costs and reduce consumer spending power, increasing the risk of a recession.The Bank, widely criticised for moving too slowly to …
Business
Business Live
Freedom and passion are the two main drivers for entrepreneurship
Earlier this week I chaired the final judging panels for the 2022 National Startup of the Year Awards. Comprising of over 100 entrepreneurs and business supporters who had given their time to support the recognition of the best new businesses in the UK, it was a difficult process given the quality of so many of …
Business
Business Live
Northern Ireland financial services firm FinTru tackles inflation with 5% standalone salary hike
A Northern Ireland financial services company is to hike the salaries of its employees by at least 5% in what it says is a direct response to the rising cost of living. FinTru, which employees more than 1,000 people around the world from its Belfast headquarters, said staff will receive an additional £2,000, €2,000 or …
Business
Evening Standard
The cheque book Chancellor who can’t say no
RISHI Sunak was bragging yesterday that his energy support package was “more generous” than anything Labour had proposed.The City would be fine with that as long as it was just politics, as long as in the private meetings where the real talk happens, there was at least a nod and a wink to show that …
Business
Business Live
Why East Midlands entrepreneurs are holding back on launching new businesses
Inflation and the struggling economy are slowing the rate of new start-ups across the East Midlands. The Midlands branch of insolvency and restructuring trade body R3 said there were almost 2,200 start-ups in the East Midlands in April – 18 per cent down on March and 3 per cent down on February. It said data …
Business
Business Live
‘Like dolphins caught in fishing nets’ warns Welsh tourism group furious over new self catering rules
The Wales Tourism Alliance (WTA), which represents over 6,000 Welsh tourism businesses, has reacted with “incredulity” to the Welsh Government’s announcement on changes to self-catering rules. As part of its commitment to tackling the issue of too many second homes in some Welsh communities, Welsh Government is raising the number of days a property is …

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