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Euan Blair’s Multiverse says funding round gives it valuation of $1.7bn
Euan Blair’s company Multiverse has announced a $220m funding round that has given it a post-money valuation of $1.7bn (£1.36bn).The figure doubles the tech education start-up’s valuation eight months ago and is thought to leave the son of former prime minister Tony Blair with a stake worth around $476m. Multiverse matches young people with apprenticeship …
Business
Business Live
WH Smith names former Direct Line boss as chair as high street chain turns 230
High street retailer WH Smith has named Annette Court as its new chair. The former Direct Line boss will replace Henry Staunton when he retires after nine years in the role. The Swindon-headquartered company said Ms Court, who is currently chair of insurer Admiral Group, would join the board as a non-executive director and chair-designate …
Business
Business Live
CF Industries to axe more than 370 jobs in major UK restructure
More than 370 jobs are set to be axed by fertiliser firm CF Industries as part of a UK restructure which would focus all manufacturing operations in the North East. The company is proposing to close its Ince manufacturing facility near Chester, which could result in up to 283 redundancies at the site. The firm …
Business
Business Live
Post-Brexit border check delays have lead to huge uncertainty says leading Hull port health figure
Hull’s chief port health inspector says the government’s decision to further delay the introduction of post-Brexit border checks on EU food imports has created “huge uncertainty” over the issue. The move announced in April by Brexit Opportunities minister Jacob Rees-Mogg was the fourth time in just over two years that a proposed starting date for …
Business
Sky News
Premier League expected to restrict debt-fuelled club takeovers
The Premier League is leaning towards imposing a ban on debt-fuelled club takeovers amid a wider overhaul of the governance of English football.Sky News has learnt that a consultation process run by the Premier League in recent weeks with its member clubs has produced broad support for restrictions on so-called leveraged buyouts of top-flight sides. …
Business
Evening Standard
Credit Suisse to increase cost cuts in wake of latest profit warning
CREDIT Suisse issued its third profit warning this year today, blaming volatile markets and caution from clients who are trading less in the wake of the Ukraine war.The scandal torn bank, which employs thousands of people at Canary Wharf in London, has been in something close to crisis for several years.It has been hit by …
Business
Business Live
Talks held to avoid rail strikes as scale of disruption revealed
The scale of disruption to rail services by the planned strikes later this month has prompted talks to be held in a bid to avert the industrial action, it has been revealed. It was announced yesterday (Tuesday, June 7) that members of the Rail, Maritime and Transport (RMT) union at Network Rail and 13 train …
Business
Business Live
HS2 labour supply contract win for Fortel
A supplier of labour to the construction industry is celebrating winning a contract with HS2 which it says will create hundreds of jobs and bring thousands in economic value into the West Midlands. Walsall-based Fortel Group, which supplies more than 2,000 staff to around 130 construction and infrastructure projects across the UK, has won a …
Business
Evening Standard
Wizz Air predicts record summer even as travel chaos deepens
WIZZ Air today predicted it was on track for a record summer, even as it fought pilot shortages, spiralling fuel costs, travel chaos at airlines and warned that customers face price rises of at least 10%.The Ryanair rival, which flies to cities across Europe as well as North Africa and the Middle East, made losses …
Business
Sky News
Sunak urged to cut taxes or raise spending as UK poised for weakest growth in developed world
Rishi Sunak has been urged by one of the world’s leading economic authorities to cut taxes or raise spending in the face of looming stagnation next year.The UK is poised for the weakest economic growth in the developed world next year, according to new forecasts from the Organisation for Economic Co-operation and Development. In its …
Business
Sky News
Air fares likely to increase significantly by end of summer, Wizz Air boss says
Air fares are likely to increase by “upper single-digits” between July and September, the CEO of Wizz Air has said.Airlines in the UK and across Europe have been struggling to keep up with demand as travel returns to normal for many holiday destinations for the first time since the beginning of the COVID-19 pandemic and …
Business
Sky News
Rich countries falling short on half their promised $40bn climate adaptation finance, research says
Rich countries are delivering little more than half the $40bn a year they promised to poor countries to help them adapt to impacts of climate change, according to new analysis.Research by climate think tank the International Institute for Environment and Development (IIED) suggests developed countries and multilateral organisations are on track to channel $21.8bn in …

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