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Rishi Sunak’s Omicron support package ‘doesn’t touch the sides’
Chancellor Rishi Sunak has been criticised for not doing enough to support businesses hit by the Omicron Covid variant. The director of a South West chamber of commerce said the financial package announced by Mr Sunak wouldn’t “touch the sides” for many businesses struggling in the wake of rising cases. One-off grants of up to …
Business
Sky News
Why a cardboard box shortage is escalating across the UK
You can’t have Christmas without cardboard, or Boxing Day without a box for that matter.Corrugated board and the paper from which it’s made – fibre as it’s known in the industry – is a fundamental raw material during the festive season. Many parents will be familiar with a child enjoying the box more than the …
Business
Evening Standard
Metro Bank fined £5.4 million by the Bank of England over accounting errors
Metro Bank today became the latest lender to be punished by watchdogs in a busy period for bank malfeasance.The challenger bank, which aimed to shake-up customer service on the high street, revealed an accounting error in 2019.It had mis-reported the value of its commercial loan portfolio, an error that once identified saw the shares crash …
Business
Evening Standard
UK GDP data shows economy was slowing even before Omicron, says ONS
The UK economy was slowing down well before Omicron emerged, figures out today show, putting the recovery in clear jeopardy.Figures from the Office for National Statistics (ONS) put GDP growth at 1.1% for the quarter to September, lower than a previous 1.3% estimate.On the positive side, the whole economy is now just 1.5% smaller than …
Business
Evening Standard
Volkswagen loses bid to have Dieselgate lawsuit dismissed
Lawyers were celebrating today after the High Court refused an attempt by Volkswagen to have a class action suit dismissed.The car giant has been plagued by the “dieselgate” emissions scandal since 2015 when it emerged it had installed devices to rig its pollution emissions data.Initially, this appeared to be a German issue but it soon …
Business
Sky News
New blueprint for making vaccines within 100 days could ‘save many lives’
A blueprint for making millions of doses of a new vaccine within 100 days has been published by researchers, who claim it could “save many lives”.The new research could enable vaccines to be developed in as little as 100 days from the moment a virus is first detected – and could enable clinical trials within …
Business
Sky News
Andrew Lloyd Webber ‘absolutely devastated’ as West End production of Cinderella forced to close
Lord Andrew Lloyd Webber has revealed he is “absolutely devastated” after his West End production of Cinderella was forced to close until February next year.The theatre impresario described how his life has been “devoted to musical theatre”. But the decision has been made to postpone his latest theatre offering in a bid to “avoid more …
Business
Evening Standard
Hospitality chiefs welcome £1bn Omicron support package — but warn more help needed if curbs tighten
Hospitality and leisure industry leaders have welcomed the Chancellor‘s newly-announced £1 billion emergency support package, but have cautioned more help may be needed. Rishi Sunak today unveiled measures to assist consumer-facing businesses hit hardest by the pre-Christmas collapse in trade caused by the surge in Omicron.Eligible businesses will be able to apply for one-off grants …
Business
Sky News
Nationwide customers unable to send or receive money just days before Christmas
Nationwide customers are unable to send or receive money just days before Christmas.According to the building society, there is a “delay” to the transactions – but there is no need to resend them. However, Nationwide said that direct debits and standing orders are working as normal, and that people can continue to use their cards …
Business
Sky News
Chancellor’s support package ‘borders on insulting’, say hospitality and leisure sectors
New economic support for the hospitality sector “borders on insulting” and amounts to “far too little”, the Treasury has been told.Chancellor Rishi Sunak has announced an additional £1bn in financial support for the hospitality and leisure sectors, with every business able to claim a cash grant of £6,000 to help them survive the winter. The …
Business
Evening Standard
Business travel trips drop back as Omicron spreads and restrictions tighten, new figures show
Business travel trips have dropped back during December as countries around the world tighten travel restrictions in response to the surging Omicron variant, new figures suggest. The sector has been hit hard by the pandemic, as companies have got used to making deals and holding meetings with global partners remotely via Zoom or Google Teams. …
Business
Sky News
Sunak pledges £1bn for hospitality sector with £6k grants for businesses
Rishi Sunak has announced an additional £1bn in financial support for the hospitality and leisure sectors, with every business able to claim a one-off cash grant of £6,000.The Treasury is also providing a £30m top-up to the Cultural Recovery Fund – which supports institutions such as museums and theatres – and reintroducing the Statutory Sick …

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