British Steel preparing to cut up to 2,000 jobs October 22, 2023 British Steel is preparing to cut as many as 2,000 jobs as the firm struggles under a £30m a month running loss, according to reports first published in The Times. The Chinese-owned company is undergoing plans to overhaul operations as it is reportedly running between a £20m and £30m monthly loss. It is also aiming [...]
SMEs fear winter supply chain crunch could hit revenue in golden Christmas quarter October 22, 2023 Supply chain disruption is the top concern of medium-sized businesses ahead of winter, a survey has found, as rising costs put pressure on revenue targets. The poll of 500 medium-sized business leaders by consultancy BDO showed nearly a quarter fear that supply chain issues, including suppliers folding and stock shortages, could endanger revenue targets this [...]
‘Breathtaking’ HS2 failure slammed after whistleblowers allege cover-up October 22, 2023 The government is facing fresh political backlash over HS2’s “staggering failure” amid whistleblower accusations.
ECB to leave interest rates on hold as battle against inflation nears finale October 22, 2023 The European Central Bank (ECB) is almost certain to leave interest rates on hold later this week, but retain the option of hiking rates again if circumstances require.
Israel-Gaza latest: Sunak warns of ‘contagion of conflict’ as UK terror risk could grow October 22, 2023 Rishi Sunak has warned that the international community needs to do everything possible to “stop a contagion of conflict” amid the Israel-Hamas war. The Prime Minister, who visited Israel, Saudi Arabia and Egypt this week, said: “The overwhelming view I got from everyone I spoke to this week was that we need to do everything [...]
Microsoft, Google, Meta and Amazon hope to lift Wall Street spirits in this week’s results October 22, 2023 Big Tech earnings season is back, with a keen focus on cloud business, AI, and capex changes amid a challenging year on Wall Street.
Next week in the City: PMIs and Big Tech results loom in a busy week for markets October 22, 2023 Investors will have a range of data points and big corporate events to keep them busy next week, including results from the big tech firm and a clutch of PMI survey results.
Brits hurt by most ‘unfriendly’ mortgage market in the world: lending boss October 22, 2023 The UK's mortgage market is one of the most "consumer unfriendly" markets in the world due to the prevalence of short term deals, boss of new mortgage lender Perenna told City AM.
Parliament urged to back renters reform bill amid fears landlord MPs could rebel October 22, 2023 Parliament has been urged to support the Renters Reform Bill which would end no-fault evictions despite fears landlord MPs could rebel against the legislation. Some MPs who own rental properties say they will be among landlords leaving the market due to what they call an “unconservative” policy on Section 21, according to the Telegraph. But [...]
Wiggle’s future uncertain as parent company seizes funding October 22, 2023 The future of Wiggle could be on the line after its parent company’s decision to terminate a €150m (£130m) lifeline to its sports division last week caused a series of concerns within the umbrella of subsidiaries. Signa Holdings’s decision to terminate the funding to Signa Sports United (SSU), which was announced last Monday, soon led [...]
