6:35 am, August 30, 2022
East Midlands could receive new powers
The East Midlands could receive new powers to improve transport, control education budgeting and build homes in a first-of-its-kind devolution deal if the government’s Levelling Up Bill is passed.
Today’s announcement by the Department for Levelling Up, Housing and Communities would see a mayoral combined county authority in Derby, Derbyshire, Nottingham and Nottinghamshire and the election of a mayor.
The holder of the new role would be responsible for delivering local priorities including education, infrastructure and home-building, backed by a £38m-per-year investment fund totalling £1.14bn over 30 years.
Store closures at five-year low
Physical business outlet closures have dropped to their lowest level in five years, driven by the release of pent-up post-pandemic demand, according to a new report.
New data shows the first half of 2022 saw net closures – the number of closures less the number of openings – of physical businesses outlets as opposed to online shops at 12 per day.
The number is the lowest since 2017 and 30 per cent lower than the first half of 2021, according to the latest Store Openings and Closures report published by professional services firm PwC.
Elon Musk subpoenas Twitter whistleblower
Elon Musk’s legal team is demanding to hear from Twitter’s whistleblowing former security chief, who could help bolster Musk’s case for backing out of a $44bn (£37bn) deal to buy the social media company.
Peiter Zatko, also known by his hacker handle ‘Mudge’, received a subpoena on Saturday from Musk’s team, according to Zatko’s lawyer and court records.
Zatko’s whistleblower complaint to US officials alleging Twitter misled regulators about its privacy and security protections – and its ability to detect and root out fake accounts – might play into Tesla CEO Musk’s hands in an upcoming trial scheduled for October 17 in Delaware.
Pubs and brewers warn of mass closures
Pubs and brewers across the UK are at risk of closure within months amid uncapped energy price hikes upwards of 300 per cent, industry bosses have warned.
Bosses of six of the UK’s biggest pub and brewing companies have signed an open letter to the government urging it to act to avoid ‘real and serious irreversible’ damage to the sector.
Greene King, JW Lees, Carlsberg Marston’s, Admiral Taverns, Drake & Morgan and St Austell Brewery all sounded the alarm yesterday.
BT and Openreach staff staging fresh strikes
BT and Openreach workers are staging fresh strikes over pay as the summer of industrial unrest across the country continues.
The Communication Workers Union said 40,000 of its members at BT Group are showing ‘serious determination’ to get a decent wage rise as they walk out today and tomorrow, following action earlier this month.
The union said workers are opposing the imposition of an ‘incredibly low’ flat-rate pay rise of £1,500.
Small businesses owed £23,000 in late payments
Small firms were owed almost £23,000 in late payments for a month, according to new data, adding to the sky-rocketing energy bills that are piling pressure on concerned business owners.
Late payments totalled £22,700 for the average small business, with at least one overdue invoice in May, representing a six per cent year-on-year rise.
This amounts to 65 per cent of their average monthly turnover, new data from accounting software Intuit QuickBooks showed.
Wine retailer Majestic eyes 76 UK locations
The boss of Majestic has said the wine retailer is ‘optimistic’ despite pressure on customer budgets as he laid out plans for its continued store expansion.
Majestic, which was bought by private equity firm Fortress for £95m in 2019, said it is targeting a wish-list of 76 potential store locations across the UK.
It has opened two new stores – in Haywards Heath and Godalming – over the past month and will continue to invest in physical stores despite rising costs, it said.
Audi confirms entry to Formula 1 in 2026
Audi is to enter Formula 1 for the first time for the 2026 racing series.
The manufacturer says new rules focusing on sustainability and cost-efficiency were important to the brand deciding to join.
New technical regulations announced by the FIA are being introduced in 2026 and will focus on greater electrification and see advanced sustainable fuel used.
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New lottery operator says cost-of-living crisis has had ‘limited’ impact
The gambling giant expected to take over the National Lottery has said the cost-of-living crisis has had a ‘limited’ impact on demand for its games.
Allwyn, which runs lotteries in Austria, Italy and Greece, yesterday reported 902m euros (£770.7m) in gross gaming revenue for the second quarter of 2022 – up 23 per cent from the same time last year.
The company, set to take over from Camelot as the operator of the National Lottery from 2024, said recent economic events will continue to have ‘some impact’ on its business but it appeared optimistic about the extent to which its operations will be affected.
Weather outlook
Northern areas will start today cloudy with the occasional shower, although cloud will tend to break during the day, says BBC Weather. Elsewhere will have sunshine, but there’ll be patchy cloud and some showers in the south-east.
Wednesday will be mainly dry with sunny spells, with some lingering showers in north-eastern England. Patchy cloud will develop across Wales and central England, with showers possible.
