The United Kingdom is seeking to restart CO2 production; inflation expectations jump; Entain Shares Soar As Takeover Approaches – As Happened | Business

It’s time to conclude :

Ministers are set to strike a deal to revive carbon dioxide (CO2) at factories in Teesside and Cheshire, to allay fears of food shortages.

The talks came as food and drink organizations warned that UK consumers would face shortages in 10 days unless carbon dioxide supplies were restored. Poultry producers, pig farmers and soft drink manufacturers are all warning that supplies are insufficient.

British public inflation expectations jumped this month, amid rising consumer prices and soaring energy costs.

Analysts have warned that millions of households could face a second record hike in their energy bills next spring, on top of the £ 139 increase expected next month, as the global gas crisis continues to rise. push market prices to new highs.

The global energy watchdog has called on Russia to send more gas to Europe as the energy supply crisis bleeds across the continent, in a rare public rebuke from the Kremlin.

UK factories have recorded record orders, but slowing production growth as the supply chain crisis prevents them from meeting demand.

UK government borrowing rose more than expected in August as rising inflation pushed up interest payments on debt.

The Office for National Statistics said the government’s budget deficit – the gap between spending and income – fell to £ 20.5bn in August, from around £ 26bn in the same month a year earlier, as the UK economy recovered from the lockdown.

However, the latest snapshot showed that gains from a rebound in tax revenues were offset by inflation causing interest payments on the national debt to rise 84% from the same month a year ago.

The OECD has sharply raised its inflation forecast and reduced its growth forecast, with the UK considered the fastest growing G7 country in 2021 and 2022.

He also warned governments and central banks against withdrawing support for growth too hastily, fearing that the recovery from the pandemic-induced recession might be incomplete.

A report by the Institute for Fiscal Studies showed that Britain’s worst labor market shortages in decades are due to employers struggling to recruit low-paid workers, while vacancies in other fields are still significantly below pre-pandemic levels.

Entain, the gambling company behind Ladbrokes and Coral, has received a $ 20 billion takeover approach from DraftKings – the latest blow from a US rival.

Virgin atlantic reported a 600% increase in flight bookings to the United States after the United States said it would lift restrictions to allow fully vaccinated passengers from the United Kingdom and most countries in the Union European Union to visit the country from the beginning of November. British Airways signaled a leap in searches.

National Express is in talks to buy Stagecoach as part of a deal that would combine the UK’s largest coach and bus operators.

Ethical clothing company for children Frugi has partnered with the new children’s clothing rental service, thelittleloop, to enable customers to rent clothes rather than buy them.

European stock markets closed higher, recovering from a steep decline on Monday.

And shares of Universal Music Group jumped by more than a third when it debuted on Tuesday, putting its chairman and chief executive, Sir Lucian Grainge, online for a potential bonus of almost $ 150 million (110 million pounds sterling).

Good evening. GW

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