The 2018 insolvency led to years of agonising by accountancy firms, with as yet no explanations or ways to avoid a repeatBankruptcies happen gradually, then suddenly, an Ernest Hemingway character famously deadpans in The Sun Also Rises. Yet the afterm…
UK government borrowing surges again as Covid cases soar
Figure of £17.4bn for November is down on last year but more than forecast by economistsThe UK government borrowed £17.4bn in November, outstripping economists’ predictions and suggesting debt could far overshoot officials’ forecasts if the Omicron cor…
UK manufacturers plead for more state funds to boost sector
Auto, aerospace, chemicals, pharma and food and drink lobby groups call for long-term strategy for industryFive of the UK’s leading manufacturing industries have issued a plea for more government financial support to boost capital investment in researc…
UK house price growth slows as end to stamp duty holiday looms
Impending halt to tax break on Friday cools market to 0.1% growth in SeptemberUK house price growth slowed in September as economists said the looming end of the stamp duty tax break had cooled the market after a period of extraordinary growth.The aver…
Virgin Money to close 31 branches across Scotland and north of England
Move to cut one in five outlets means bank has more than halved number of branches since 2018Virgin Money has announced it will close 31 branches – almost all in Scotland and the north of England – in the latest stage of the UK banking sector’s retreat…
Computer chip shortage stalls UK car industry production
A continuing global shortage of semiconductors further dents the sector’s post-pandemic recoveryBritish car industry output declined for the second month in a row in August as the months-long shortage of computer chips hampered the sector’s recovery ef…
Why takeovers rather than arms may be the talk of UK defence fair
Concern grows over government’s inability – or reluctance – to prevent sale of established defence firmsDefence industry bosses have missed out on a year’s worth of hobnobbing with customers at trade fairs like the Farnborough and Paris air shows, but …
Morrisons profit drops as firm warns over supply chain crisis
Supermarket flags up rising prices as company prepares auction to choose between rival private equity biddersMorrisons has reported a drop in profits as it warned of rising costs in its supply chain because of coronavirus pandemic disruption and a shor…
UK orders national security review of graphene firm’s takeover by Chinese scientist
Watchdog to look at potential takeover of Wales-based Perpetuus Group by Dr Zhongfu Zhou or Taurus InternationalBusiness secretary Kwasi Kwarteng has ordered a national security review of a takeover by a Chinese academic of a small Welsh manufacturer o…
‘Housing should be boring… and cheap’ – developer explains his success
Pocket Living boss explains why his business model of building smaller flats is ideal for the UK housing crisisProperty developer Marc Vlessing says he would be happy to be put out of a job. In an attempt to attract first-time buyers who might otherwis…