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Sky News
Economy slowdown worse than thought even before Omicron, revised data shows
Britain’s slowing economic recovery was even weaker than previously thought over the summer, according to revised official data.The updated figures from the Office for National Statistics (ONS) showed gross domestic product (GDP) rose by 1.1% in the third quarter, down from an earlier estimate of 1.3%. They add to more recent evidence that the UK’s …
Business
Business Live
Plans for 170-job cable factory put to local community in Northumberland
Proposals for a subsea cable factory that could create 170 new jobs in Northumberland have been presented to the local community. JDR Cables, which already has sites in the North East at Newcastle and Hartlepool, wants to build the new manufacturing facility at Cambois, near Blyth. The company has presented detailed proposals for the scheme …
Business
Business Live
Lockdown hobby becomes successful Tyneside promenade pizza business Ritrovo
A former factory manager in South Tyneside has turned a lockdown hobby into a successful start-up pizza business. Jonnie Halling has a strong background in food production, having spent the last eight years managing the factory at Minchella & Co in South Shields. He developed a love for pizza-making during the pandemic and has now …
Business
Business Live
Financial firms could be made to pay compensation after bad pension advice given to steelworkers
Firms found to have provided bad advice to former members of the British Steel Pension Scheme have been warned they will be expected to pay compensation. The Financial Conduct Authority is launching a redress scheme after hundreds of losses were discovered. In what has been described as a “highly exceptional case”, analysis indicates 47 per …
Business
Business Live
Businesses need to embrace change if they don’t want to be outpaced by firms which do
With Plan B now officially backed by the commons and daily headlines warning of further restrictions in the form of a potential ‘Plan C’, businesses are once again wrestling with Covid-19-related uncertainty that many hoped were behind them. Thankfully, Welsh business leaders have shown great resilience and become very good at dealing with changing government …
Business
Business Live
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 …

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