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Sky News
McColl’s shares fall by a third as retailer warns on product availability
McColl’s, the convenience store chain, has seen its shares plunge by up to a third to hit record lows after it warned that weak product availability would hit annual profits.The company, which has a network of 1,265 convenience stores and news agents across Britain, said a shortage of lorry drivers and insufficient supply of key …
Business
Evening Standard
UK inflation soars to 4.2% putting pressure on the Bank of England to shove up rates
Inflation soared in the last month, putting further strain on family finances and making an increase in interest rates before Christmas look like a racing certainty.The City has been concerned for months that the Bank of England is too lax about inflation. The Threadneedle Street rate setters insist inflation will peter out next year.Today’s figures …
Business
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 …

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