Government breaches another manifesto pledge by denying full triple lock uplift September 7, 2021 The government has breached another manifesto pledge and scrapped the normal functioning of the state pension triple lock, it announced today. In a statement delivered to the House of Commons today, secretary of state for work and pensions Thérèse Coffey announced the government will employ a triple lock lite, denying millions of pensioners an uplift [...]
Distribution of water purifying chemicals hit by driver shortages September 7, 2021 Water companies have been authorised to reduce the amount of chemicals in waste water as a result of delivery driver shortages. There have been distribution problems in water firms’ chemical supply chain but water organisations stressed there were no shortages of chemicals. Water companies have been given the green light to temporarily reduce the amount [...]
Kraken intelligence report points to potential for Ethereum to shine September 7, 2021 Kraken's highly-anticipated monthly intelligence report is suggesting Bitcoin may be about to take a back seat as altcoins drive crypto momentum in Q3.
Paperchase’s unsecured creditors to receive meagre payment September 7, 2021 Unsecured creditors to Paperchase will receive between 1 and 4 per cent of the £22.6m they were owed following the stationary retailer’s pre-pack administration. The retailer was sold through a pre-pack administration to Permira Debt Managers, which provided funding for the business since 2015. Unsecured creditors will be paid a dividend out of the retailer’s [...]
Fem-tech keen investors pile £70m into British BlackRock-backed Elvie September 7, 2021 Women’s health technology firm Elvie has raised a total £70m in its latest capital rally, as investors are increasingly eyeing fem-tech as a more viable investment avenue. Investors piled an additional £12.7m into the fem-tech firm’s BlackRock-led Series C, after the company bagged some £30.4m in Series B funding back in 2019. The latest fundraiser, [...]
CMA says Sony’s $430m purchase of independent label AWAL raises competition concerns September 7, 2021 The UK’s competition watchdog has today said the US recording giant Sony’s purchase of independent record label AWAL could lead to worse terms for musicians. Sony bought the company, which represents artists such as Jungle, Banks, Nick Cave and the Bad Seeds, and Deadmaus for $430m back in May. At the time, the Competition and [...]
After 18 months of sporadic education, schools need a reset September 7, 2021 Throughout this week, close to 9 million pupils will return to school, after 18 months of constant disruption caused by the pandemic. What have we learnt? That school is best in person, obviously – but also that the pandemic has also amplified the scale of inequalities across the national educational system. The UK government has just launched its “back [...]
Toyota to spend £9.9bn on car batteries by 2030 September 7, 2021 Toyota has announced plans to spend 1.5tn yen (£9.9bn) on developing car batteries and its battery supply system by 2030. The world’s largest vehicle manufacturer, which pioneered hybrid gasoline-electric vehicles with the popular Prius, is planning a full line up of electric vehicles next year and aims to sell 10m electric and hybrid vehicles by [...]
Bank of England hawk Saunders suggests interest rates will rise in 2022 September 7, 2021 Your mortgage rate looks more likely to rise next year, according to one Bank of England rate-setter. The Bank of England may need to increase interest rates next year if the UK’s GDP recovery momentum holds and inflation becomes stickier, policymaker Michael Saunders said today. Saunders, who in August voted for an early stop to the BoE’s [...]
Vietnamese man faces five years in jail for Covid rule break September 7, 2021 A Vietnamese man has been sentenced to five years in jail for spreading Covid after he flouted lockdown rules and infected eight people. Le Van Tri, 28, was convicted of “spreading dangerous infectious diseases” during yesterday’s trial which alleged he had caused eight people to become infected including one who died. “Tung travelled back to [...]
