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Sky News
What are the rights of workers and passengers affected by the mass sackings at P&O Ferries?
There is chaos at several UK ports after P&O Ferries halted sailings so it could make 800 crew redundant and replace them with cheaper agency staff.The move has prompted outrage from unions and politicians, with some of the seafarers affected by the dramatic cuts refusing to disembark while others have taken to the streets in …
Business
Sky News
Ships avoiding Russia as sanctions impact revealed
Maritime trade with Russia has more than halved since the invasion of Ukraine began three weeks ago, new data reveals. The dramatic fall in seaborne trade is three and half times greater than at the worst point during the COVID pandemic and follows a series of sanctions imposed on Moscow by Western countries.It could mean …
Business
Sky News
Bank of England signals pause in rate rises as Putin’s war heightens recession risk
When the Bank of England’s monetary policy committee met to consider interest rates last month, Ukraine was not even part of the debate.What a difference six weeks make. At Wednesday’s meeting of the Bank’s decision makers, the Russian invasion was in the first line of the minutes as the Bank took the unprecedented step of …
Business
Business Weekly
Government warned to avoid £50bn Oxford-Cambridge Arc blunder
Government plans to ditch a centrally coordinated  Oxford-Cambridge Arc project will cost the UK economy upwards of £50 billion in the next eight years – equivalent to two per cent of GDP – a new report has warned. Michael Gove’s Department for Levelling Up, Housing and Communities has shelved a strategic plan to create a …
Business
Evening Standard
The laddish culture at Lloyd’s of London is out of date
Business
Sky News
Bank of England hikes interest rate to 0.75% as it sees inflation surging to 8%
The Bank of England has hiked the interest rate by 0.25% to 0.75% as it forecast inflation surging to 8% next month – and even higher in the autumn.It is the third increase in a row in as many policy meetings by the bank’s rate-setters and restores the cost of borrowing to pre-pandemic levels. The …
Business
Sky News
Interest rate hiked and Bank of England warns inflation squeeze will get worse as Ukraine war drives up energy prices
The Bank of England has warned the inflation squeeze on households will intensify further this autumn after Russia’s invasion of Ukraine added to the pressure on energy prices.Surging inflation – now expected to hit 8% next month – prompted the bank to hike its interest rate by 0.25 percentage points to 0.75%, taking it to …
Business
Sky News
£2,553 out of pocket: How the war in Ukraine is worsening the UK’s cost of living crisis
Sanctions on Russia are already starting to worsen an acute cost of living crisis in the UK.Despite limited dependence on Russian imports, surging global prices are expected to erode living standards even further.The average UK household will experience a £2,553 drop in income this year, half of which is as a result of the invasion …
Business
Sky News
Broughton lines up Wall Street and sports titans to back fully funded Chelsea bid
Sir Martin Broughton, the heavyweight British businessman, has enlisted support from major Wall Street and sports industry figures to back a takeover bid for Chelsea Football Club that is now fully funded.Sky News has learnt that Sir Martin intends to submit a standalone offer for Chelsea before a deadline on Friday that will include funding …
Business
Sky News
More than 1,100 DWP staff at risk of losing jobs as government ‘modernises’
The closure of Department for Work and Pensions (DWP) offices is placing more than 1,100 jobs at risk and thousands more could face redundancy, the PCS union said.Confirming to parliament that a number of offices across the country will be closing, Work and Pensions minister David Rutley said on Thursday there will be around 12,000 …
Business
Sky News
P&O Ferries warns of ‘significant disruption’ to services after 800 staff are let go
P&O Ferries has made 800 of its staff redundant, effective immediately, and cancelled all its services for the next few days – warning of “significant disruption”.The move – to plug a £100m year-on-year black hole in the company’s finances – is believed to affect everyone from captains to cleaning staff and has been branded “a …
Business
Business Live
Dash for gas as stranded Lincolnshire wells to be reconnected to the grid with monthly £7m revenues eyed
Final consents have been secured by Angus Energy to return isolated gas wells on the Lincolnshire coast back to production. Bosses are eyeing up the high market price as an incentive to return to production as soon as possible, with the Russian invasion of Ukraine ramping up already elevated prices. Saltfleetby Gas Field was first …

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