Concerns about the financial stability of Credit Suisse have weighed on its stock price.

Creative Media NewsMonday, 3 October 2022, 14:000

On Monday, Credit Suisse stock plummeted as concerns over the Swiss bank’s financial health intensified. After the bank’s CEO failed to reassure investors, the company’s stock plunged almost 10% before recovering somewhat. In a message sent to employees last week, Credit Suisse’s top executive Ulrich Koerner emphasized that the company’s financial position was sound. It...

Energy regulator: ‘significant risk’ of UK gas supply emergency

Creative Media NewsMonday, 3 October 2022, 11:000

Ofgem’s comments were made public just days before National Grid is set to provide an update on the possibility of winter blackouts. The energy regulator has warned of a “substantial danger” of gas shortages in the United Kingdom this winter. The information, which was disclosed in a letter sent by Ofgem last week and first...

Interest rates rise when squeezing tightens rapidly

Creative Media NewsMonday, 3 October 2022, 5:000

According to new data, major mortgage lenders are boosting the cost of home loans, with the average two-year fixed rate already approaching 6%. Moneyfacts reported that a typical two-year fixed rate that was priced at 2.34 percent at the beginning of December is now priced at 5.75 percent. In recent days, the cost has increased...

The UK faces a serious risk of gas shortages this winter, according to the energy regulator.

Creative Media NewsMonday, 3 October 2022, 1:000

According to the industry regulator, the United Kingdom faces a “high risk” of gas shortages this winter, which might impair electricity supplies. Ofgem stated that a “gas supply emergency” could occur in the United Kingdom owing to Russia’s conflict with Ukraine. This would result in gas supplies being cut off to power plants that use...

How the policy about tax cuts was reversed

Creative Media NewsMonday, 3 October 2022, 0:000

In politics, twenty-four hours can be a long time. Just ask Liz Truss. On Sunday morning, she informed Laura Kuenssberg that her proposal to eliminate the higher tax rate was permanent. Are you dedicated to it? Yes, she responded with assurance. Even as late as last night, senior officials defended the proposal at conference fringe...

Vauxhall’s new sub-range includes two Astras.

Creative Media NewsSunday, 2 October 2022, 6:000

Vauxhall has introduced a new electrified sub-range, with two Astras as the initial models. The titles of a new hot hatchback and sports tourer estate are followed by the abbreviation GSe, which stands for ‘Grand Sport Electric’. They are propelled by a turbocharged 1.6-liter four-cylinder engine mated to an electric motor and battery to provide...

After restructuring to withstand the pandemic, Ann Summers is back in profit.

Creative Media NewsSunday, 2 October 2022, 4:000

After reorganizing to escape the pandemic, Ann Summers is once again profitable. The company, which also offers adult toys and accessories, posted a profit of £6.4 million in the fiscal year ending June 2021, compared to a deficit of £12.4 million the year prior. In December of 2020, a reorganization of its finances allowed it...

New strike cripples train services, as Royal Mail employees strike for a second day.

Creative Media NewsSaturday, 1 October 2022, 23:000

A restricted timetable has been released, indicating that only 11% of rail services will operate today, with no trains in some places. Today, rail travelers have been asked to only travel if “necessary” due to a 24-hour walkout by four trade unions. The most recent strike by members of the Train, Maritime, and Transport union...

Liz Truss acknowledges inconvenience following tax cut promises.

Creative Media NewsSaturday, 1 October 2022, 20:000

Prime Minister Liz Truss has acknowledged that the mini-budget has caused “disruption” in the British economy. She wrote in The Sun that she had “acted forcefully” and would maintain an “iron grip” on the country’s finances. Last week, the government presented £45 billion in tax cuts financed by borrowing, but without the customary economic analysis...

The worst rail disruption of the year due to a worker walkout.

Creative Media NewsSaturday, 1 October 2022, 18:000

More than 50,000 workers are participating in a strike that will result in the greatest rail disruptions of the year so far in the United Kingdom. Members of four unions have begun a 24-hour walkout in a protracted dispute over wages, working conditions, and working conditions. It means that only 11% of normal train services...

‘Yummy mummy’ brand struggles Joules is optimistic despite insolvency fears.

Creative Media NewsSaturday, 1 October 2022, 11:000

Struggling Despite rumors that it was on the verge of insolvency, the British fashion retailer Joules said it was advancing well. After abandoning plans to put £15 million into the company, Next, a favorite of “yummy mummies,” announced that it was “forming its turnaround plan.” Joules was mulling a company voluntary arrangement to eliminate loss-making...

Porsche’s £70bn IPO defies global economic turbulence.

Creative Media NewsSaturday, 1 October 2022, 10:000

The sports car manufacturer Porsche bucked global economic turbulence by debuting on the stock market with a valuation of nearly £70 billion. In one of Europe’s largest-ever initial public offerings, shares of the Stuttgart-based company began trading in Frankfurt at €82.50 each. The stock, which has been assigned the ticker ‘P911’ after its iconic 911...

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