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Sky News
Why the Bank of England is set to raise rates when it can’t influence many rising costs
The number might have surprised most economists, who were anticipating a figure slightly below 4% rather than slightly above it, but in another sense there’s nothing enormously surprising about today’s inflation figure, striking as it may be.Everyone expected CPI to rise sharply in October, as we saw the impact of higher energy prices on the …
Business
Evening Standard
Profits crash at CMC Markets, a hit to Tory peer Lord Cruddas
PROFITS have plummeted at CMC Markets as a Covid share trading boom came to a shuddering halt, leaving founder and Tory peer Peter Cruddas keen to break up the business that made his fortune.Lord Cruddas wants to split the business into a spread betting arm and a more traditional stock broking business, the later presently …
Business
Sky News
Inflation hits highest level in a decade at 4.2% as fuel and energy bills soar
The rate of inflation has hit its highest level for almost a decade as prices rise across the UK economy, with fuel and energy costs leading the way.The Office for National Statistics (ONS) reported that the consumer prices index (CPI) measure jumped to 4.2% in October from 3.1% the previous month – a bigger leap …
Business
Euro News
Jean-Michel Jarre enters the metaverse and says why we shouldn’t be afraid of a ‘dystopian future’
Business
Sky News
Premier League chair Hoffman to quit amid fury over Newcastle deal
The chairman of the Premier League is on the brink of resigning following a backlash from clubs over its handling of the Saudi-led takeover of Newcastle United.Sky News has learnt that Gary Hoffman, who only took up the non-executive post 18 months ago, is close to finalising his exit after coming under pressure to quit …
Business
Evening Standard
‘Borderless’ jobs on the rise as London tech scene faces skills shortages
London-based tech firms are increasingly hiring talent internationally and looking to create “borderless teams” amid severe skills shortages and ever-improving remote work technology. In a new report shared today with the Standard, white-collar recruitment giant Hays identified these so-called “borderless jobs” as potentially key to solving the intensifying war for talent companies are facing. The …
Business
Evening Standard
Inflation preview: price surge puts fresh pressure on Bank of England
What will inflation come in at tomorrow?The City thinks it will have risen from 3.1% in September to 4% in October. That’s double the 2% target the Bank of England is supposed to hit. The Governor Andrew Bailey will have to write a letter to Chancellor Rishi Sunak explaining himself. Sunak will reply saying he …
Business
Evening Standard
Revolution Bars targets ‘favourable’ high street rents for new bars
Younger drinkers returning to partying habits since “Freedom Day” have helped Revolution Bars‘ sales top pre-Covid levels – and the chain now plans to capitalise on cheap rents up for grabs on UK high streets. Revolution, which runs 67 bars nationwide and employs 3000 staff, has had a difficult pandemic. Revenues fell from £110 million …
Business
Sky News
Mr Kipling maker hints at price rises ahead as it spends big to stock shelves for Christmas
Premier Foods, the owner of brands including Mr Kipling and Bisto, has hinted that prices may rise in the months ahead as it battles cost increases and fights to build resilience in its supply chain.The company said it was “successfully navigating” the challenges facing distribution – and its efforts to keep shelves stocked had contributed …
Business
Business Live
MediaCity owner Landsec returns to half-year profit as retail sector bounces back
The majority owner of MediaCity swung to a half-year profit as the retail sector bounces back and workers return to offices following the lifting of pandemic restrictions. Commercial landlord Land Securities – also known as Landsec – posted a pre-tax profit of £275m for the six months to September 30, against losses of £835m a …
Business
Sky News
YO! Sushi parent Snowfox tests bidders’ appetite amid £750m float talks
The owner of the sushi restaurant chain YO! is kicking off talks with prospective buyers following a string of takeover approaches for the Japanese food specialist.Sky News has learnt that Snowfox Group and its shareholders have asked advisers to canvas interest from bidders. The process comes as Mayfair Equity Partners, the company’s majority shareholder, continues …
Business
Sky News
While an unemployment crisis may have been averted, the vacancies crisis remains
Throughout the pandemic, the relatively low unemployment numbers were often reported behind a series of caveats.“If it weren’t for the furlough scheme the numbers would be far worse”. “Once the furlough scheme is over, there could well be a steep cliff edge”And so on. Image: The employment figures show the jobless rate at 4.3% over …

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