World of Business

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Xyra Group offers £12.5m rescue bid as Poundland teeters on brink of collapse

Xyra Group has offered £12.5m to rescue Poundland as the discount retailer faces collapse. The bid would pay half of the company's £30m debt immediately, with the rest deferred. Gordon Brothers remains in talks with multiple bidders as the 12 November deadline approaches.

5 min read

Why London prices vary wildly: from sausage rolls to vet bills

London prices for identical items vary dramatically by location—from Greggs sausage rolls to veterinary fees. Location, convenience, and operating costs drive these differences, with some services costing nearly double in different boroughs.

5 min read

David Jones, Australia's Oldest Department Store, Enters Administration After 188 Years

Australia's 188-year-old David Jones department store has entered voluntary administration after years of financial struggles. The iconic retailer, which employs 6,000 staff across 38 stores, faces store closures and job losses as the traditional department store model collapses.

5 min read

Bank of England poised to raise interest rates for first time since 2023

The Bank of England is expected to raise interest rates from 3.75% to 4% on Thursday, the first increase in over three years. The move would increase borrowing costs but boost savings rates, with tracker mortgage holders facing immediate impacts.

5 min read

Sterling hits decade-high as Bank of England prepares for first rate rise in three years

Sterling reaches its highest level since the 2016 Brexit referendum as investors await the Bank of England's first interest rate rise in three years on 5 November. The pound's strength reflects improved UK economic sentiment and a weaker dollar following US midterm elections.

6 min read

Lockside Cafe trade plummets 40% as canal closure stretches into spring

The owner of Lockside Cafe in Grindley Brook reports a 40% drop in trade since the Llangollen Canal closed on 22 December 2025 after a major embankment collapse. The Canal & River Trust expects to reopen the waterway ahead of Easter, critical for the spring tourism season.

4 min read

US stocks surge, dollar weakens as Democrats' midterm wins ease growth concerns

US stocks surged and the dollar fell to a one-month low on Wednesday as investors digested Democrats' midterm election victories. Bond yields declined as investors sought safe-haven Treasuries, while concerns about AI regulation weighed on technology stocks.

6 min read

Burnham urges global unity on cost of living after Trump's midterm defeat

Prime Minister Andy Burnham has called for global unity on cost of living after US midterm elections delivered a setback to President Trump's Republicans. Burnham says he cannot reduce UK cost pressures until conflicts in the Middle East and Ukraine are resolved.

7 min read

BMW slashes profit forecast as restructuring costs mount amid Chinese competition

BMW cuts profit margin forecast to between -0.5% and 0.5% for 2026, citing restructuring costs and Chinese competition. The carmaker joins Mercedes-Benz in issuing profit warnings as Western automakers struggle against lower-cost rivals.

4 min read

Dollar tumbles, gold and bonds surge as Democrats seize Congress

Democrats' control of Congress triggers market shifts: dollar falls to one-month low, gold and US Treasury bonds rally on expectations of tougher AI regulation and reduced fiscal stimulus.

13 min read

Scottish colleges need £2.5bn investment to upgrade aging infrastructure by 2037

Scottish colleges require £2.5bn investment by 2037 to address aging infrastructure, maintenance backlogs, and modernisation needs, according to a new Scottish Funding Council report covering all 24 colleges across 99 campuses.

5 min read

Economy and democracy top voter concerns in 2026 US midterms

A comprehensive election day poll shows American voters prioritise the economy and democracy, with 75% viewing the economy negatively and 79% reporting inflation hardship. Two-thirds blame Trump's policies for economic decline.

6 min read