Browsing: Business News

Mike Ashley has announced he will step down from the board of Frasers Group – owner of the Sports Direct chain, the retail billionaire founded decades ago.

The Guardian says Almost 80% of the UK’s lowest-paid workers say they are now facing the toughest financial squeeze of their lifetimes, according to new research by the Living Wage Foundation.

The Guardian says The world may be edging toward a global recession as central banks simultaneously raise interest rates to combat persistent inflation, the World Bank has warned.

The i says The Chancellor, Kwasi Kwarteng, has faced widespread criticism after he proposed to scrap the cap on bankers’ bonuses as millions struggle during the cost of living crisis.

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.

Yvon Chouinard, the billionaire founder of the outdoor fashion retailer Patagonia says he has given away his company to a charitable trust.

The i says It comes as the UK faces a cost of living crisis, with fuel, food and energy prices soaring for months.

Shops have announced they will shut their doors in the UK on Monday 19 September, as a sign of respect to Queen Elizabeth II on the day of her funeral.

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.

PM Liz Truss will unveil her plans to help the public amid soaring energy prices. The government plans are expected to limit energy bill rises, spending billions to protect people from rising prices.