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Business
Entrepreneurs warn that capital gains tax will increase and cause a mass exodus
Stefano Vaccino gave a blunt appraisal of the risks involved in starting a new business. "As founders we left our secure jobs to take risks, put our own lives and the lives of our families at risk, and put our savings on line." In 2017,…
AO World has agreed to purchase MusicMagpie for £10 Million
AO World has acquired a gadget seller that was valued at more than £200million by public market investors. The City is continuing to suffer losses on the ill-fated floats in 2021.
AO World agreed to purchase electronics company…
Sweden is worried about the future of Northvolt, a battery manufacturer.
Stefan Lofven visited Northvolt’s base in Skelleftea, near the Arctic Circle, Europe’s first battery gigafactory, just three years ago. He declared that the city was "the future" of the fight against climate change. The Social Democrat said…
Ofwat’s letter to small businesses reveals that water bills for these firms are increasing by…
Water suppliers have been accused by small businesses of burdening them with the costs of "historic mistakes" made by the bosses of the scandal-hit water industry. It was revealed that their prices may rise by nearly 30% by 2030.
Ofwat…
Kemi Badenoch: Minimum wage in the UK harms businesses
Kemi Badenoch said that UK minimum wage and maternity leave rules were among the regulations "overburdening business" and causing certain companies to close. She was trying to gain momentum during the four day beauty parade of Conservative…
Thames Water may be denied new debt financing in the next few weeks
Thames Water, the struggling water company, is fighting for its survival and has been told that it may not be able to raise new debts as soon as next week. According to the accounts of its holding company, the debt-ridden company faces a…
Port Talbot’s final blast furnace is closing, bringing gloom to the steel town
Alun Davies views the steam plumes rising from Port Talbot’s last blast-furnace, which will soon be shut down. Davies, the National Officer for the Steelworkers' Union Community and former steelworker for nine years, describes the mood in…
Nightmare on Aim Street scares investors
The City of London is preparing for a "Halloween Nightmare on Aim Street", which could be announced at the budget meeting next month. Investors have been scared by fears that Treasury may consider cutting an "essential" tax relief which has…
Aston Martin shares plummet after profit warning
Aston Martin Lagonda's new chief executive has forced the luxury carmaker to cancel its financial plans and reduce production for the year. Shares in the company have plummeted since the arrival of the new executive.
The stock fell to a…
Southern Water is considering shipping supplies from Norwegian Fjords to UK
Southern Water, Britain's largest water company, is preparing contingency plans for future shortages of water and drought by tankering water from Norway. Southern, with 2.7 million drinking water customers in the south east of England,…
Royal Mail boss criticises Ofcom for its ‘frustratingly long’ timetable
Royal Mail's parent, Royal Mail, has criticized the slow pace of Ofcom's consultations on reforming the universal service obligation of the struggling postal operator. Keith Williams, aged 68, said to International Distribution Services…
Credit agencies warn that Thames Water is on the verge of default.
Two of the most prestigious credit rating agencies in the world have rated Thames Water as on the verge of default. This could bring a government-backed bailout deal closer. Moody's and S&P stated that Thames Water struggled to access…
Sophie’s Champagne moment: Sophie raises a glass of Taittinger sparkling Kent wine
As rain poured down on the Kent countryside, Pierre-Emmanuel Taittinger said, "God couldn't have done it any better."In blazing sun, less than 30 minutes earlier, the Duchess had opened the Domaine Evremond Winery in Chilham. One journalist…
Britain pressures Spanish group to make bid for Harland & Wolff UK shipyards
Ministers are trying to convince Navantia that it should bid on four Harland & Wolff shipyards in Northern Ireland, England and Scotland. This is to prevent job losses for the struggling British shipbuilder. According to those briefed…
Visa is accused of dominance in a US antitrust suit for shutting down competitors
The US Department of Justice filed a lawsuit against Visa accusing it of monopolizing the debit payment market and abusing its dominant position in order to crush any potential competitors. In a civil complaint filed in Manhattan Federal…
Businesses say that budget uncertainty is impacting the UK economy.
Two separate surveys of businesspeople indicate that uncertainty ahead of Labour's first Budget since 2010 next Month is impacting the UK economy. S&P Global, a data company, said that the UK private sector growth in September slowed…
Journalists protest planned sale of Observer by Tortoise Media
Journalists from the Guardian Media Group are revolting against a planned sell-off of The Observer, citing concerns that this could affect staff financial security. The National Union of Journalists voted to condemn the "flawed analyses"…
Nearly 100,000 Lifetime ISA savers are hit with high withdrawal fees
In 2023-24, the total withdrawal charges for Lifetime Isa will be worth £75.2 million -- a nearly 40% increase from last year's total of £54.3 million . Finance experts say that the figures released by HM Revenue & Customs highlight…