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Deutsche Bank raided in $1tn greenwashing inquiry
Deutsche Bank has been raided for the second time in less than a month, this time over a $1tn greenwashing scandal that has rocked the bank.Regulators in Germany claim that DWS, the bank’s asset management arm, sold investment products worth $1tn as more environmentally friendly and “sustainable” than they actually were. The former DWS head …
Business
Evening Standard
Government can’t shirk all blame for chaos at airports
The government has been merrily heaping blame for the chaotic scenes at British airports on the aviation industry. It’s all their own fault, so the briefing goes, it should have seen the upsurge in foreign holidays coming and it was perfectly happy to pocket government aid and furlough money while laying off thousands of workers …
Business
Evening Standard
Alarm as mortgage borrowing dives and credit card debt soars
Mortgage borrowing slumped but credit card debt rose sharply in April in an ominous sign that households are feeling the pinch of the cost of living squeeze.Latest figures from the Bank of England (BoE) show that net mortgage borrowing fell sharply from £6.4 billion to £4.1 billion. Mortgage approvals for house purchases dropped from 69,500 …
Business
Sky News
Shop prices growing at fastest rate in more than a decade
Shop prices grew at the fastest rate in more than a decade during May, spurred on by rapidly-accelerating food inflation.The figures come from the latest BRC-NielsenIQ Shop Price Index, which looks at baskets of food and non-food items and measures the change in price over time. It found that retail price inflation was 2.8% in …
Business
Evening Standard
Boohoo remains in race to bail out Missguided
Online retailer Boohoo will still plough ahead with its approach to acquire fast fashion brand Missguided despite the company falling into the hands of the administrators.However, the company will now not be able to offer a pre-packed rescue deal for the online retailer, due to its updated financial position and will now be in the …
Business
Sky News
Mortgage borrowing falls by 36% as housing market starts to cool
Mortgage borrowing fell by more than 36% in April when compared with the previous month, in yet another signal that the red-hot housing market in the UK is starting to lose momentum amid rising inflation and a cost of living crisis.The Bank of England said on Tuesday that net mortgage borrowing decreased to £4.1bn in …
Business
Business Live
Community ownership plans for one of Wales’ oldest ironmongers
A group of committed locals are trying to save a 141-year-old ironmonger in Newport, Pembrokeshire, by aiming to raise sufficient funds to buy the business and operate it as a cooperative community shop. Siop Havards Gymunedol Tydrath (SHGT) has opened a share offer with members of the public encouraged to come forward to invest, buy …
Business
Business Live
Dodgy roofer gambled away thousands of pounds of deposits from cancer patients
A roofer has been sentenced for gambling away thousands of pounds of deposits from people – some who were seriously ill – then failing to do any work. Lincolnshire County Council said Leon David Mann of Pilgrims Way, Gainsborough, and his company Gainsborough Roofing, took 50 per cent deposits of between £500 and £2,750 from …
Business
Business Live
Wales the only nation of the UK to see its economy shrink
Wales is the only nation of the UK to see its economy shrink, according to new figures from the ONS. For the third quarter (Q1) of 2021 gross domestic product (GDP) in Wales declined 0.3% on the previous quarter. Growth in England was 0.6%, while for Northern Ireland its economy grew 1.4% and for Scotland …
Business
Business Live
Dale Vince’s Ecotricity begins building £11m ‘green gas mill’
Green energy company Ecotricity has begun construction of a new renewable energy facility which it says will “make gas from grass”. The Gloucestershire business is building its new £11m “green gas mill” near Reading in Berkshire, with the firm saying it will create 30 jobs and directly contribute £3m into the rural economy. The mill …
Business
Evening Standard
Oil soars again on EU Russia deal, petrol prices to keep rising
OIL prices jumped again after EU leaders agreed a deal to block two-thirds of Russian oil imports to starve Vladimir Putin’s war machine of revenues.While that deal agreed overnight, which bans oil that arrives by sea but not by pipeline, was hailed as a political break through, it further constrains supply.That will lead to more …
Business
Business Live
Grimsby seafood firm bought out by European operator backed by Japanese giant
Grimsby’s Northcoast Seafoods has been bought out by a major European player backed by a global giant. The retail-focused manufacturer, grown from a single North Atlantic prawn trading entity by managing director Fridrik Thorsteinsson over the past two decades, now operates from a large processing base on South Humberside Industrial Estate. It has been acquired …

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