Insolvencies at ‘jaw dropping’ level as debt industry warns UK economy ‘is not out of the woods yet’ April 18, 2023 More companies in England and Wales entered insolvency during March than at any point since monthly records started three years ago, according to official data that showed a 16 per cent increase on a year ago. The Insolvency Service reported 2,457 corporate insolvencies last month, up from 1,784 in February. The rate of companies falling into insolvency [...]
E-scooter rental firm blames vandals for having to pull out of UK city April 18, 2023 An e-scooter rental firm has blamed vandals for its decision to pull out of Sunderland after just four months. Zwings began operating in the city in January after the last provider pulled out, saying rising energy costs were a key factor. But now the rental company said it will cut the number of its e-scooters [...]
Peter Murrell released without charge amid ongoing police probe of SNP finances April 6, 2023 Nicola Sturgeon’s husband Peter Murrell has been been released without charge as police continue an investigation into the SNP’s finances. Mr Murrell, who married the former first minister in 2010, stepped down as the SNP’s chief executive last month following a controversy about misleading information being given to journalists over the party’s membership numbers. The [...]
Has Branson’s satellite dream been grounded? Virgin Orbit files for bankruptcy in the US April 4, 2023 Sir Richard Branson’s satellite launch firm Virgin Orbit has filed for Chapter 11 bankruptcy in the US after failing to secure rescue funding. It comes after a Virgin Orbit rocket failed to complete the first satellite launch from UK soil in January. On Tuesday, the business lodged a filing with the US Bankruptcy Court for [...]
Government to encourage businesses to save energy as it slashes bill support April 1, 2023 The government has launched a bid to help businesses use less energy on the same day as it pulls away most of its energy bill support for companies. Small and medium-sized companies will be told that they can save money on their bills by putting light and heating on timers, turning down flow temperatures on [...]
Port of Dover authorities ‘deeply frustrated’ as coach traffic suffers long delays April 1, 2023 The Port of Dover has said it is “deeply frustrated” as coach traffic faces “significant delays”. The port, which has declared a critical incident, said the delays were “due to lengthy French border processes and sheer volume”. Additional coach bookings taken by ferry operators for Easter have impacted operations, a statement on the port’s website [...]
Down to earth for Branson’s Virgin Orbit satellite firm as funding dries up and 85 per cent of staff are cut March 31, 2023 Sir Richard Branson’s satellite launch firm Virgin Orbit is to cut 675 jobs – about 85% of its workforce – after failing to secure new funding. The entrepreneur has said he will inject almost £9 million to go towards severance costs. It comes amid reports from the Financial Times that Virgin Orbit’s chief executive Dan [...]
Broadband, mobile bills and council tax rises threaten ‘awful April’ for householders already facing cost of living crisis March 31, 2023 Households battling the cost of living crisis are facing an onslaught of price hikes that could leave the average family hundreds of pounds a year worse off. From April 1, millions of people will face increases to their broadband, mobile, water and council tax bills. Most local authorities are putting up council tax by 5 [...]
No new taxes: Labour’s Reeves pledges not to increase CGT limit March 30, 2023 Labour does not plan to increase capital gains tax, shadow chancellor Rachel Reeves has indicated, despite deputy leader Angela Rayner appearing to suggest rates were too low. Prime Minister Rishi Sunak last week released a summary of his tax affairs, which showed that his tax rate was about 22 per cent because most of his [...]
Grain and a grape: Chapel Down sparkling wine sales fizz as Kent company sloes down gin and vodka focus March 29, 2023 Winemaker Chapel Down has reported a jump in sales and profits with drinkers snaffling up record numbers of it sparkling wine. The Kent-based company said sales of traditional-method sparkling wine – which includes its brut and sparkling bacchus – surged by more than 50 per cent over 2022, as the business took steps to become [...]
