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New £2m annual fund to back film industry in Wales
A new fund with £2m of finance a year to back the Welsh film sector has been announced. Welsh language channel S4C and Welsh Government agency for the creative sector, Creative Wales, have both committed £1m annually in funding over the next three years under a new memorandum of understanding. The intention is to support …
Business
Business Live
Figures confirm how tourism boomed in Wales – but warning over knee-jerk reaction to hotspot ‘overtourism’
Bumper summer figures have been reported for the tourism sector in Wales as staycations boomed. The latest Wales Accommodation Occupancy Survey statistics are out – with the numbers for June, July and August. It will come as no surprise that figures in all sectors were up. Hotel room occupancy was 82% for the three months, …
Business
Evening Standard
Royal Mail to sack 700 despite service issues and Covid staff sickness
Royal Mail staff are regarded as among the heroes of the pandemic but some of their jobs are still at risk.The privatised business said today it will axe around 700 management jobs as part of cost-cutting plans. The move will save around £40 million a year, the company claims, but will cost £70 million upfront.The …
Business
Sky News
Regulator investigates £1.9bn National Express-Stagecoach merger
The National Express takeover of Stagecoach is facing an investigation by the competition regulator, it has been announced.The all-share deal, which would value the combined business at about £1.9bn, was confirmed last month. It would bring together the country’s biggest bus and coach operator in Stagecoach, which includes the Megabus brand in its stable, and …
Business
Sky News
Energy boss casts doubt on government deal to prevent 50% price cap hike
The chief executive of a major household energy supplier has cast doubt on whether the sector and government will be able to spare households from a huge spike in bills from April.Greg Jackson, the founder of Octopus Energy, used a letter to the three million households on its books to explain the options facing companies …
Business
Sky News
Eerie echoes of inflation-riddled past as UK firms pass on surging costs
Anyone looking for clues that inflationary pressures in the UK economy will ease in coming months would do well to avoid the CBI’s latest industrial trends survey today.The survey, conducted on a quarterly basis by the employer’s organisation, indicates that manufacturers are not only facing big cost increases at present but are also looking to …
Business
Evening Standard
Tech stocks’ Reality Bites moment has arrived
This time last year, it was reported 90% of 627 market professionals polled agreed the stock market was a bubble set to pop.Unsurprisingly, a year later, an increasing number of market big dogs are calling the current correction as the curtain-raiser to a more chaotic market collapse.The Nasdaq has given up all its gains since …
Business
Evening Standard
Credit Suisse warns of trading slowdown and legal costs
CREDIT Suisse, the Swiss bank reeling from the sudden departure of chairman Antonio Horta-Osorio, issued a profit warning today related to legal costs.It will barely break even for the fourth quarter after setting aside 500 million Swiss francs (£400 million).The bank said: “These litigation provisions have been incurred in respect of a number of cases …
Business
Sky News
Wolseley restaurant-owners line up Knighthead in battle with Thais
The restaurateurs behind some of London’s landmark dining outlets are lining up financial backing from a US-based fund that placed one of the most pandemic’s most lucrative bets by investing in Hertz, the car rental provider.Sky News has learnt that Knighthead Capital Management is in talks with Corbin & King about providing tens of millions …
Business
Sky News
IMF urges ‘targeted support’ for UK households hit by cost of living surge
The International Monetary Fund has urged Britain to offer “targeted support” for struggling households facing a cost of living surge. Gita Gopinath, the fund’s deputy managing director, backed the idea of government help for the most vulnerable as they face inflation at a near-30 year high amid soaring household bills. She also warned of the …
Business
Business Live
Airbus strike ballot opens today in pay dispute involving 3,000 workers
Workers at Airbus’ factories in Broughton in North Wales and Filton in South West England have begun balloting for industrial action in a dispute over pay. Last week Business Live reported that around 3,000 workers had turned down a pay offer from the aerospace giant and were to ballot on industrial action. Neither party is …
Business
Business Live
Manchester United and UA92 team up to boost job opportunities
Manchester United have announced an education and employment partnership with University Academy 92 (UA92). They are to work together to provide work experience and mentoring opportunities, with the club’s staff also delivering guest lectures and curriculum guidance to help prepare the students for future employment. The Premier League club have said they see the partnership …

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