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Sky News
‘Nothing off the table’ on tax cuts, says chancellor
Chancellor Nadhim Zahawi has said there is “nothing off the table” on tax cuts as he called for caution on public sector pay rises.Speaking to Sky News on his first full day in the role, he said he would “look at everything” when pressed about his tax plans. “The most important thing is to rebuild …
Business
Sky News
Oil prices down 9% but pound slumps as recession fears grip global markets
Global financial markets are enduring a day of turmoil over rising fears of a recession for the US and Europe as economic growth is challenged by surging inflation.. There was a rush for safe havens in Europe on Tuesday, later mirrored in the US, with stock markets plunging and the pound and euro coming under …
Business
Sky News
British Airways cancels 11% of flights in summer holiday peak
British Airways has cancelled 11% of flights during the summer holiday peak in the hope of avoiding a repeat of the airport disruption witnessed earlier this year. The airline, one of the worst affected by post-pandemic staff shortages this year, said it was taking further “pre-emptive” action to prevent disruption for passengers and build greater …
Business
Evening Standard
Car sales fall by a quarter but electric vehicles charge ahead
New car sales dropped by a quarter last month as the global semiconductor shortage and the soaring cost of fuel continued to blight the industry.Registrations tumbled 24.3% to 140,958 in June, according to latest figures from trade body the Society of Motor Manfacturers and Traders (SMMT). It was the weakest June performance since 1996.However, sales …
Business
Sky News
Royal Mail managers to strike as union condemns ‘culture of greed’
Managers at Royal Mail will go on strike this month in a dispute over job cuts and pay, the Unite trade union has said.Unite warned that this would immediately affect postal and parcel services across the country. Some 2,400 managers will take industrial action from 20 July to 22 July. They will also work to …
Business
Business Live
Losses slashed at Bolton Wanderers owner in promotion year despite turnover hit
Losses have been slashed at the owner of Bolton Wanderers during the year the club were promoted back to League One despite its turnover continuing to be hit by the Covid-19 pandemic. Newly-filed accounts for Football Ventures (Whites) Limited have revealed the company’s operating losses went from £3.4m to £517,393 in the 12 months to …
Business
Evening Standard
Fears over the pound and travel chaos send FTSE 100 sliding
YESTERDAY’s market optimism seemed to evaporate today in a cloud of worry about the pound, the UK economy and travel despair.With airlines seemingly in chaos and Britain facing its first national train strike in 25 years, shares wobbled.British Airways owner IAG lost 4p to 103p. Easyjet, facing some suggestions that CEO Johan Lundgren might have …
Business
Evening Standard
Customers are “watching every penny” says Sainsbury boss as sales tumble
SAINSBURY’S today warned that customers are “watching every penny” as the cost-of-living squeeze tightens and warned it will get worse from here.It saw sales down 2.4% in the last quarter with Argos and the clothing arm particularly badly hit as people tried to cut back on non-essentials.The supermarket claims it is doing better than rivals, …
Business
Business Live
Covid scientist Sir Jonathan Van-Tam addresses East Midlands Chamber annual dinner
Sir Jonathan Van-Tam, one of the top level team that helped guide Britain through the pandemic, told the annual East Midlands Chamber dinner that science must be as accessible as possible if it is to help the public. Sir Jonathan, who was a regular figure at Downing Street press conferences during the pandemic spoke about …
Business
Business Live
DHL plans to create 600 jobs at new Coventry depot
Around 600 jobs are set to be created in the West Midlands after postal delivery giant DHL announced a huge investment in the region. The company said it planned to open a new 269,000 sq ft facility on Segro Park near Coventry Airport which would have the capacity to handle more than 500,000 items per …
Business
Business Live
Bristol jewellery business secures £600k to open new Birmingham workshop
A fast-growing jewellery business in Bristol has received a £600,000 investment to help it expand its operations outside of the city. Online retailer Lillicoco, which operates out of the Square Works co-working office space on Berkeley Square in Clifton, specialises in luxury antique pieces including rings, necklaces and pendants. The business was founded in 2016 …
Business
Sky News
Bank of England tells lenders to prepare for ‘deteriorated economic outlook’
The Bank of England has told lenders to prepare for a “deteriorated economic outlook”.Banks were told to ramp up capital buffers to ensure they can weather the storm. “The economic outlook for the UK and globally has deteriorated materially,” the Bank said as it published its latest Financial Stability Report, largely blaming the impact of …

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