Interest rates are now 3 per cent – the highest level since 2008 – in a bid to tackle soaring inflation Interest rates are now 3 per cent – the highest level since 2008 – in a bid to tackle soaring inflation
Author: WTX Business Team
Elon Musk faces lawsuit as Twitter is sued for mass layoffs over his plan to get rid of about half of its workforce The Sun says TWITTER has been sued over Elon Musk’s plans to axe around half of its workforce. The lawsuit was filed in a San Francisco court – just days after the Tesla mogul completed the $44billion takeover. Twitter employs around 7,500 workers, so it’s feared that up to 3,700 could be…
Elon Musk denies reports he plans to fire workers to avoid payouts Billionaire Elon Musk – who recently bought Twitter – has denied a report that he plans to lay off Twitter workers before the start of next month to avoid having to make payouts. Replying to a Twitter user asking about the report, he said: “This is false.” Mr Musk – the world’s richest man, completed his $44bn Twitter takeover after months of back…
US throws out charges against interest rate ‘rigger’ The US has thrown out criminal charges against former UBS trader Tom Hayes – the first trader to be jailed for “rigging” interest rates. Hayes was the first of 38 people to be prosecuted. He was charged in both the US and UK, tried in London in 2015 and sentenced to 14 years. It was reduced on appeal to 11 and he severed a total of five…
Mortgage rates soared after the mini-Budget, with many lenders pulling products from the market Mortgage rates soared after the mini-Budget, with many lenders pulling products from the market
Last year, Spotify hiked its Premium Family plan from £14.99 a month to £16.99.
Prices of everyday grocery items soar The prices of some everyday grocery items such as pasta, tea, chips and cooking oil, according to new data – with vegetable oil soaring by 65% in a year. Overall the price of budget food items rose by 17% in the year to September, according to the Office for National Statistics (ONS). The figures come as inflation is at a 40-year high, with prices up 10.1% in a year. …
Industry associations for sectors from oil to agriculture in the US and Europe found resisting wildlife-friendly laws, say researchers Industry groups representing some of the world’s largest companies are “opposed to almost all major biodiversity-relevant policies” and are lobbying to block them, according to a new report. Researchers found that 89% of engagement by leading industry associations in Europe and the US is designed to delay, dilute and block progress on tackling the biodiversity crisis,…
Britain’s economy is still one of the world’s largest despite soaring inflation, looming recession and recent market turmoil. Britain’s economy is still one of the world’s largest despite soaring inflation, looming recession and recent market turmoil.
Sterling stood at $1.136 against the dollar on Monday morning Sterling stood at $1.136 against the dollar on Monday morning
The public is planning for a smaller Christmas this year amid the cost of living crisis. A BBC survey uncovered concerns about the rising prices.
The pound has moved higher after the government announced a series of U-turns.
Official data shows the UK economy unexpectedly shrank in August for the first time in two months.
The Bank of England has once again been forced to step in again to boost its emergency bond-buying scheme.
New measures have been announced by the Bank of England aimed at ensuring an “orderly end” to its emergency bond-buying scheme.
Adidas has said it is reviewing its Yeezy partnership with American rapper Kanye West just days after he stirred up controversy with a “White Lives Matter” T-shirt design at Paris Fashion Week.
Elon Musk has made a surprising u-turn on whether he will buy Twitter. The billionaire had initially dropped out of the deal to buy the social media site, but it seems he’s not willing to proceed with the takeover.
A food waste charity has told the BBC that it has seen a drop of around 200 tonnes in supermarket surplus donations every month this summer.
A government support scheme, set to be announced later, could help businesses cut their energy bills by a third.
A strike on Friday by French air traffic control will disrupt travel for tens of thousands of passengers.
The Guardian says The John Lewis Partnership slumped to a first half loss of £99m driven by soaring inflation, as the department store group warned a “uniquely uncertain” outlook in the run-up to Christmas would put the staff annual bonus at risk this year.
The Guardian says Liz Truss will finally present her long-awaited plans to tackle soaring energy bills on Thursday, with some Tory MPs conceding this is already a make-or-break moment for her entire premiership.
BBC News says The government has announced how all households in England, Scotland and Wales will receive £400 to help with rising fuel bills this autumn.
There is set to be a strike on 30 July over a pay dispute, union Aslef has announced.
Aljazeera says MACAU has locked down one of the city’s most famous hotels, the Grand Lisboa, after more than a dozen COVID-19 cases were found there on Tuesday.