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Business

Virgin Orbit plans for insolvency amid rescue talks with investors

Virgin Orbit has begun drawing up detailed contingency plans for its insolvency days after halting its operations and furloughing its workforce. Sky News has...

by admin March 19, 2023
Virgin Orbit plans for insolvency amid rescue talks with investors
Business

John Lewis may end 100% staff ownership to raise investment for ‘transformation’ as job losses loom

The retail giant John Lewis may dilute its 100% employee ownership to raise fresh investment. The change to the partnership model would signal a...

by admin March 19, 2023
John Lewis may end 100% staff ownership to raise investment for 'transformation' as job losses loom
Business

Swiss govt to hold news conference after reports of UBS agreeing to buy Credit Suisse

The Swiss government is to hold a news conference after reports of UBS agreeing to buy the embattled Credit Suisse for more than $2bn....

by admin March 19, 2023
Swiss govt to hold news conference after reports of UBS agreeing to buy Credit Suisse
Business

John Lewis may end 100% staff ownership to raise investment for ‘transformation’ as job losses loom

The retail giant John Lewis may dilute its 100% employee ownership to raise fresh investment. The change to the partnership model would signal a...

by admin March 19, 2023
John Lewis may end 100% staff ownership to raise investment for 'transformation' as job losses loom
Business

UK regulators back merger of banking giants Credit Suisse and UBS

British banking watchdogs have given their blessing to a takeover of Credit Suisse by its Swiss peer UBS, as financial regulators around the world...

by admin March 19, 2023
UK regulators back merger of banking giants Credit Suisse and UBS
Business

Silicon Valley Bank UK arm hands out £15m in bonuses days after £1 rescue

The British arm of Silicon Valley Bank (SVB UK) has handed out millions of pounds in employee bonuses just days after its insolvency was...

by admin March 18, 2023
Silicon Valley Bank UK arm hands out £15m in bonuses days after £1 rescue
Business

Markets still uncertain after SVB and Credit Suisse shocks

A tumultuous week in the markets ended on an uncertain note – suggesting fears remain after large losses from the collapse of Silicon Valley...

by admin March 17, 2023
Markets still uncertain after SVB and Credit Suisse shocks
Business

Royal Mail referred to regulator over ‘systemic letter delivery failures’

Royal Mail has been referred to the industry regulator by a committee of MPs which has accused the company of failing in its duty...

by admin March 17, 2023
Royal Mail referred to regulator over 'systemic letter delivery failures'
Business

Natural History Museum named UK’s most visited indoor attraction for second year running

The Natural History Museum was the most visited indoor attraction in the UK for a second consecutive year, new figures show. The London museum...

by admin March 17, 2023
Natural History Museum named UK's most visited indoor attraction for second year running
Business

Manchester United takeover: Sheikh Jassim expected to make a second bid for club within 10 days

Sheikh Jassim bin Hamad al Thani will make a second bid for Manchester United within 10 days after his representatives visited the Premier League...

by admin March 17, 2023
Manchester United takeover: Sheikh Jassim expected to make a second bid for club within 10 days
Business

Group of major US banks ride to $30bn rescue of troubled First Republic

A group of 11 major banks have clubbed together to provide $30bn (£24.7bn) of cash in an attempt to end a crisis of confidence...

by admin March 16, 2023
Group of major US banks ride to bn rescue of troubled First Republic
Business

TikTok banned from UK government phones

TikTok will be banned from UK government phones amid security concerns around the Chinese-owned video app, Cabinet Office minister Oliver Dowden has announced. In...

by admin March 16, 2023
TikTok banned from UK government phones
Business

European Central Bank sticks to its guns on interest rates despite market turmoil

The European Central Bank (ECB) has maintained its fight against inflation and imposed a large set of interest rate hikes despite market turmoil. Bank...

by admin March 16, 2023
European Central Bank sticks to its guns on interest rates despite market turmoil
Business

John Lewis results: £234m loss means no staff bonus and looming job losses

Job losses are on the horizon at the John Lewis Partnership, which includes Waitrose and John Lewis shops, as the company posted an annual...

by admin March 16, 2023
John Lewis results: £234m loss means no staff bonus and looming job losses
Business

TikTok expected to be banned from UK government phones

China will see move as another swipe as relations deteriorate China’s response to the spate of countries banning TikTok on government devices has been...

by admin March 16, 2023
TikTok banned from UK government phones
Business

Jeremy Hunt defends speed of his childcare budget giveaway as ‘biggest transformation in my lifetime’

Chancellor Jeremy Hunt has defended the speed of the rollout for his budget offer of free childcare for working parents, describing it as the...

by admin March 16, 2023
Jeremy Hunt defends speed of his childcare budget giveaway as 'biggest transformation in my lifetime'
Business

Budget 2023: Money will have to be found from somewhere for public sector pay, says IFS

The government will have to find money to increase public sector pay or face consequences in its services, the Institute for Fiscal Studies (IFS)...

by admin March 16, 2023
Budget 2023: Money will have to be found from somewhere for public sector pay, says IFS
Business

Budget 2023 calculator: See if you are better or worse off after Chancellor Jeremy Hunt’s statement

Are you richer or poorer? Use our budget calculator to see how you have been affected by Chancellor Jeremy Hunt’s tax and spending announcements....

by admin March 16, 2023
Budget 2023 calculator: See if you are better or worse off after Chancellor Jeremy Hunt's statement
Business

Credit Suisse secures £44.5bn lifeline amid fears of global financial crisis

Credit Suisse has said it will borrow up to 50bn Swiss francs (£44.5bn) from the Swiss central bank to shore up its liquidity. The...

by admin March 16, 2023
Credit Suisse secures £44.5bn lifeline amid fears of global financial crisis
Business

Beer drinkers toast to budget, but wine and whisky producers feel sour over alcohol duty increase

The price of a bottle of wine could rise by 44p this summer after Jeremy Hunt limited a freeze on alcohol tax to pints....

by admin March 16, 2023
Beer drinkers toast to budget, but wine and whisky producers feel sour over alcohol duty increase
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