Royal Mail has seen its pre-tax profits plunge by more than half for the six months to September. They fell 57 per cent to £33 million despite a rise in revenues of one per cent to £4.9 billion, underlining analysts concerns that its costs are still too high. Rico Black, who took over as Royal […]
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The British airline Flybe has confirmed that it is seeking a buyer weeks after warning shareholders that it was facing a £22m full-year loss. Board members at the Exeter-based operator say they are holding talks with a number of interested parties about a potential sale. Flybe issued a profit warning last month, citing high fuel […]
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Britain’s economic growth will be the joint worst in Europe by next year even if it does leave the EU with a deal, according to European Commission forecasts. The UK will initially share the bottom of the league table for the continent’s worst economic growth with Italy, but will soon sit at the foot of […]
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Chancellor Philip Hammond declared that austerity is coming to an end as he unveiled a package of spending in his 2018 Budget. His pledges included billions for road improvements, social care, the controversial universal credit system and business rate relief for small companies. There was also £400m for schools and a commitment to raise the income […]
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Developers should be hit with tough new penalties for ‘hogging’ development land at record levels according to a new study. The analysis found that so-called ‘land banking’ is at record levels with the worst-ever gap between planning permissions being granted and homes being built. Data from the housing ministry revealed that in 2016-17, planning permission […]
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Billions of barrels of oil and huge amounts of gas could be lying beneath the North Sea, scientists have claimed. Experts at Aberdeen University who studied the offshore industry’s potential to 2050 says 17 billion barrels of oil and substantial supplies of gas are still to be extracted. Dr Linda Stephen and Professor Alex Kemp […]
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US President Donald Trump is “very keen” to agree a trade deal with the UK after it leaves the EU, claims the International Trade Secretary Liam Fox. Fox was speaking on a visit to New York to highlight the historic links between the two countries, where he said the UK was in a “strong position” […]
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A surge in high-risk lending by financial institutions has triggered a warning from The Bank of England about the potential for another economic crash. The Bank says loans to companies already laden with debt are increasing across the world, similar to the sub-prime mortgage market that sparked the 2008 credit crunch. In the United States […]
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Tax rules which exempt the self-employed from paying national insurance are to be scrapped by The Treasury. The targets are a growing number of people who operate as private companies when accepting work. So-called ‘off payroll’ contractors now comprise a third of those claiming to be self-employed, the Treasury estimates. If it continues, the practice […]
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Chancellor Philip Hammond must come up with £2 billion in this month’s budget to help businesses prepare for life after Brexit, say industry leaders. The Confederation of British Industry (CBI) has called on Mr Hammond to set the cash aside to increase investment, improve skills and cut business rates. Mr Hammond will deliver the budget […]
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