5:59 am, October 8, 2022
One in five trains will run today
Rail passengers are set for more travel chaos as only around 20 per cent of normal train services will run on Saturday due to another strike.
More than 40,000 members of the Rail, Maritime and Transport (RMT) union at Network Rail and 15 train operating companies will walk out in a row over jobs, pay and conditions.
Around half of the network will be closed all day and trains will operate only between 7.30am and 6.30pm. Passengers are being urged to ‘only travel by train if absolutely necessary on Saturday’.
Insolvencies rise as companies worry about energy bills
Nearly a quarter of small businesses say that energy prices are their main concerns as insolvencies spiked to their highest level since the wake of the financial crisis.
The number of companies going insolvent in England and Wales has been rising since last year, and hit 5,629 in the second quarter of 2022.
When adjusting for the season, this pushed insolvencies to their highest level since the third quarter of 2009, amid the global financial crisis.
Three dead at Irish petrol station blast site
A major search operation is continuing at the site of an explosion at an Irish petrol station amid fears the death toll could rise above the three fatalities already confirmed.
Friday afternoon’s devastating blast in the village of Creeslough, Co Donegal, ripped through the Applegreen service station and convenience store and adjacent buildings.
Irish police confirmed three fatalities late on Friday night as search efforts continued for others feared missing.
Tory minister sacked over misconduct claim
The Prime Minister sacked Tory MP Conor Burns from his post in the Department for International Trade yesterday following a complaint of ‘serious misconduct’.
The MP – who has also had the Tory whip suspended – accused the party of rushing to judgement, as he vowed to clear his name.
He now faces an investigation into allegations of inappropriate behaviour at the annual Tory conference. The MP for Bournemouth West, who has held the seat since 2010, said he would “fully cooperate” with the probe.
Wetherspoon’s serves up more losses
Wetherspoon is facing ‘a momentous challenge’ to persuade pub goers back into its bars after they got used to drinking cheap supermarket beer during the pandemic, the company’s boss has said.
Tim Martin revealed that while his business had cut losses significantly, it has still not managed to return to a profit since the pandemic, and sales remain lower than in 2019.
Total sales rose from £773m to more than £1.7bn in the year to the end of July. Pre-tax losses fell from £167m before exceptional items last year, to £30.4m this year. Before the pandemic the company made a profit of £132m.
House prices fall in September
The average house price edged down in September, from a record high recorded the previous month, according to an index.
Figures going back to the summer indicate the housing market may have already entered a more sustained period of slower growth, Halifax said.
Across the UK, house prices fell back slightly by 0.1 per cent in September, said the bank.
The annual rate of house price growth also slowed to 9.9%. A typical UK property now costs £293,835.
Friday headlines you may have missed
- Criminals set up ANOTHER con car dealer website
- Investigation: We called conman car dealer
- Marshall sold for ‘bargain price’ to Constellation
- Agency sales are not a ‘radical change’, says Vertu boss
- Motorpoint branded ‘expensive’ as broker downgrades forecasts
- Used car market continuing to hold firm
- MB Advertising gives marketing insights for a challenging year
- ‘Hotel Hyundai’ to offer a world first with entire site powered by fleet of Ioniq 5 EVs
- City West Country announces pre-tax profit of £6.95m for 2021
HMS Prince of Wales misses departure
The beleaguered Royal Navy aircraft carrier HMS Prince of Wales failed to depart Portsmouth for Fife last night following a string of delays caused by technical problems.
It had been expected to sail on Monday but work was not completed in time to remove the giant propeller and the sailing was delayed until 11am on Friday. The departure was then put back again until at least 11pm, but the ship had failed to leave this morning.
The £3bn warship broke down off the Isle of Wight in August after sailing from Portsmouth Naval Base to take part in flight trials and diplomatic visits in the US.
Truss ‘plans to send childcare cash straight to parents’
Liz Truss is said to be considering a shake-up of the childcare subsidy system whereby parents, rather than nurseries, would be handed government cash to spend as they see fit.
As it stands, all three and four-year olds in England are entitled to 15 hours’ free childcare a week during term time, while some families can claim up to double that amount.
The funding for each place is currently sent straight to approved providers, such as nurseries or childminders, but the government is reportedly weighing up proposals which would see the money paid directly to parents instead.
‘Armageddon’ talk edges beyond bounds of US intelligence
US President Joe Biden’s warning that the world is at risk of a nuclear ‘Armageddon’ was designed to send an unvarnished message that no one should underestimate the extraordinary danger if Russia deploys tactical nuclear weapons in its war against Ukraine, administration officials said.
The president’s grim assessment, delivered during a Democratic fundraiser on Thursday night, rippled around the globe and appeared to edge beyond the boundaries of current US intelligence assessments. US security officials continue to say they have no evidence that Vladimir Putin has imminent plans for a nuclear strike.
White House press secretary Karine Jean-Pierre told reporters: ‘Russia’s talk of using nuclear weapons is irresponsible and there’s no way to use them without unintended consequences. It cannot happen.’
Liverpool named Eurovision host city
Former Eurovision champions, the Prime Minister and the mayor of Liverpool have congratulated the city after it was chosen to host the 2023 song contest.
The international music show will take place at the 11,000-capacity Liverpool Arena next May, culminating in the grand final on Saturday 13, after the city fended off competition from Glasgow.
Bacon could sell for more than £30m at auction
A Francis Bacon triptych (main image) depicting his close friend Henrietta Moraes is expected to sell for more than £30m when it goes to auction this month.
Moraes was a key figure in London’s post-war artistic landscape and acted as a muse for both Bacon and Lucian Freud.
The paintings, titled Three Studies for Portrait of Henrietta Moraes, come from the collection of American media executive William S Paley, who acquired the work months after it was finished in 1963. It will make its auction debut at Sotheby’s in London on October 14.
Sterling falls against a stronger dollar
The pound slipped in value against the US dollar yesterday as a better-than-expected jobs market indicated a relatively healthy economy across the pond.
A stronger dollar also helped lift the FTSE 100 during the day, which is made up of stocks that are largely internationally focused.
The FTSE 100 closed the day a fraction lower, down 6.18 points or 0.09 per cent to 6,991.09. Elsewhere in Europe, the German Dax was down 1.59 per cent and the French CAC had fallen 1.17 per cent.
Superdry ‘cautious’ despite swinging to profit
Retailer Superdry said it is cautious about the future as spiralling costs and the weight that shoppers are under has added to uncertainty across the economy.
The business said it has still not recovered to pre-pandemic revenue levels and does not expect to do so during the current financial year.
In the year to the end of April, revenue rose nearly 10 per cent, hitting £610m, while the business swung to a £17.9m pre-tax profit, from a loss of £36.7m a year earlier.
Weather outlook
Today, high pressure to the south will bring dry and bright conditions for most, says the BBC. However, northern and western Scotland will see more in the way of cloud and a few showers.
Tonight, England and Wales will see clear skies and dry conditions throughout. Remaining cloudy and breezy for Northern Ireland and Scotland with western parts seeing rain towards dawn.
Tomorrow, it will turn windy in the north as a band of rain sweeps in from the west, but the south will remain largely dry with bright spells.
