Business
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Kwasi Kwarteng to meet UK bank chiefs over mortgage market turmoil
Chancellor Kwasi Kwarteng has called the heads of the UK’s largest retail banks to a meeting on Thursday to discuss…
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Poké House caters to the City crowd with St. Paul’s launch
T he hunger for the Hawaiian dish poké shows no signs of abating in the capital as Europe’s largest restaurant chain…
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Pound weakens and government borrowing costs rise again after Truss speech
T he pound has wiped out its gains from earlier in the day, falling in value against the US dollar…
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Average two-year fixed-rate mortgage hits 6% for first time since 2008
T he average two-year fixed-rate mortgage on the market has breached 6% for the first time since 2008. The last…
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Tesco announces extra pay rise to help workers with cost of living
S upermarket giant Tesco has been praised for giving an extra pay rise to its workers to help them cope…
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Disneyland Paris seeks UK performers in new recruitment drive
B udding actors who dream of being a Disney princess or Marvel hero could get their chance after Disneyland Paris…
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Businesses ‘delay plans to go public amid market turmoil’
F lotation activity on the London Stock Exchange plunged in the last few months as the number of companies going…
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999 call handlers to join BT and Openreach strike over pay
B T workers and Openreach engineers will stage a fresh strike on Thursday in a long-running dispute over pay. The…
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Enjoy the calm after the storm before the blast of winter
A remarkable calm has descended on the markets after Hurricane Kwasi blew through the City last week. Gilt yields have…
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Truss promises to make ‘hard choices’ in search for economic growth
L iz Truss said she would make the “difficult but necessary” choices to get economic growth, but was heckled by…
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Conservatives have chosen the path to political putrefaction
Economists will be familiar with Gresham’s Law, the principle that bad money drives out the good. What is less well…
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Householders warned about ‘significant’ increase in energy scams
I ncreasingly vulnerable householders are facing a “significant” increase in energy scams as the cost-of-living crisis takes hold, Trading Standards…
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Premium Bonds October 2022: Winning numbers and how to check if you won
T wo lucky Premium Bonds holders from Suffolk and outer London have received a windfall by winning the £1m jackpot…
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Service sector breaks from 18 months of growth, survey suggests
T he UK’s service sector has interrupted 18 months of consecutive growth to stagnate for the first time since lockdowns…
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Falling gas prices stoke hopes for a brighter inflation outlook
H opes that a sustained fall in gas prices would ease the cost-of-living crisis and help tame inflation spread today,…
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Martha Lane Fox set to pocket over $2 million as Musk U-turns on buying Twitter
Lane Fox, who sits as a crossbench peer in the House of Lords, holds 34,000 Twitter shares and 4500 restricted…
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Fresh travel misery for rail passengers
F urther strikes are to be held by railway workers in worsening disputes over pay, jobs and conditions, as passengers…
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Vertu Motors says new car prices still spiking as it posts £2bn revenues
C ar dealership group Vertu Motors has reported its second highest half-year of profits as the price of new cars…
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Tesco pledge to price match Aldi and Lidl as it “doubles down” for customers
T esco today pledged to “double down” to help struggling customers and narrow any price gap between it and the…
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Tesco warns over full-year trading pressures as shoppers ‘watch every penny’
S upermarket giant Tesco has revealed falling half-year profits and warned that annual earnings will be towards the lower end…
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Bang & Olufsen revenue drowned out by China lockdowns in first quarter
D anish high-end audio equipment manufacturer Bang & Olufsen has recorded a drop in revenue of 8.2% to 612 million…
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FTSE 100 Live: Tesco profits fall, OPEC considers oil output cut
1664955432 FTSE 100 retreats, Tesco shares higher European markets have pared some of this week’s gains, with the FTSE 100…
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Topps Tiles hails another year of record sales after pandemic DIY boom
T opps Tiles has revealed a second record year for sales as it continued to bring in more customers after…
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Tesco profits hit £1.3bn as it pledges to work “relentlessly” to help customers
T ESCO saw profits for the half-year top £1.3 billion and upped its dividend to shareholders, figures that come at…
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Small businesses sound the alarm over surging UK interest rates
Jess Christman wants to expand his timber business in the Scottish Highlands but is worried that rising interest rates will…
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Time for a U-turn on IR35 freelancer tax rules
Choosing how to tax citizens and businesses is the legitimate right of elected politicians. Deliberately opting out of the proper…
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UK pensions lifeboat handed out £1.6bn during market turmoil
The £39bn Pension Protection Fund was forced to provide £1.6bn in cash as additional security for derivative-linked investment strategies during…
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Passengers facing more travel chaos as rail workers again take industrial action
R ail passengers are set for more travel chaos on Wednesday due to another strike in the long-running dispute over…
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Match.com ‘Things that make him realise I’m a keeper’ ad banned
A TikTok post by dating site Match.com has been banned for perpetuating negative gender stereotypes which were likely to cause…
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Drivers denied 10 pence cut in petrol prices – RAC
D rivers are being denied a further 10p cut in petrol prices due to major retailers hiking profit margins, according…
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Pension holders being left frustrated by archaic processes, says Which?
S ome pension providers need to ditch antiquated methods that appear to be firmly rooted in the last century, according…
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Legal & General reassures investors on financial health after mini-budget impact
I nsurance giant Legal & General has sought to reassure investors over its financial strength after suffering hefty share falls…
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Pound hits two-week high as Chancellor ‘brings forward debt plan and forecast’
T he pound has rallied to a two-week high after reports that the Chancellor would bring forward his debt plan…
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High Court to decide on share-out of cash from failed UK power groups
The former owners of some of the UK’s collapsed energy suppliers and their creditors will find out who is entitled…
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Truss rules out sacking Mordaunt for speaking out over benefits rise
L iz Truss ruled out sacking Penny Mordaunt after the Commons Leader put pressure on the Prime Minister to increase…
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Unions call for urgent meeting with Nicola Sturgeon over future of rail network
S cotland’s rail unions have called for a meeting with the First Minister to discuss the future of the network,…
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HSBC explores sale of Canadian operations after calls for break-up
H SBC is considering selling its Canadian business as it looks to fend off calls from its largest shareholder for…
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Truss opens way for more short-term overseas workers in UK
Liz Truss is drawing up plans to make it easier for companies to bring in talented staff from overseas for…
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Rees-Mogg calls for ‘freedom for chocolate oranges’ in red tape bonfire
J acob Rees-Mogg has called for “freedom for chocolate oranges” as he made the case for a red-tape bonfire. At…
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Lenders to face pressure to cut mortgage rates if markets stabilise
Lenders will come under pressure to offer cheaper fixed rate mortgages if the market rates they use to price deals…
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Average two-year fixed-rate mortgage edges close to 6%
T he average two-year fixed-rate mortgage on offer is edging closer to 6% as lenders continue to push up their…
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Scottish state bank vows to pick up speed after slow start
The chair of Scotland’s national investment bank, set up to provide capital to small and medium businesses, has vowed to…
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Elon Musk U-turns with fresh Twitter takeover offer at original price
B illionaire Elon Musk is set to re-commit to his original offer of taking Twitter private, according to reports citing…
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Scrutiny is critical if Kwarteng is to win back public trust
The writer is chief economist at the Institute for Government The UK’s new prime minister and chancellor have had a…
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Global stock markets rally on global optimism
G lobal stock exchanges rallied on Tuesday amid a flurry of optimism which sent the pound up to two-week highs.…
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PM resists speculation on state pension age rise but does not rule it out
T he Prime Minister did not rule out raising the state pension age as she sought to resist speculating on…
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Technical glitches stop train passengers buying tickets
T rain passengers were unable to buy tickets online with several operators or a major retailer due to technical glitches.…
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Liz Truss apologises for not being ‘more specific’ over energy price guarantee
L iz Truss has apologised for not being “more specific” following her statements that “nobody” will pay more than £2,500…
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UK power companies threatened with legislation to limit revenues
The UK government has threatened energy companies with a cap on the revenues they make from sky-high wholesale power prices…
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Fresh rail strike to cause more travel chaos
R ail passengers will suffer fresh travel chaos on Wednesday because of another strike in the long-running dispute over pay,…
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