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Friday newspaper round-up: Steelworkers, TM Lewin, AstraZeneca, Bulb

Fri 18 Mar 2022 07:32

(Sharecast News) - Thousands of steelworkers were the victims of pension regulation failures that left some with losses of up to £489,000, an official report has found, prompting accusations that the UK financial watchdog was "asleep at the wheel". The National Audit Office's findings relate to a 2017 scandal involving members of the British Steel pension scheme, many of whom were persuaded to transfer their retirement savings by advisers who then pocketed huge fees. - Guardian

The shirtmaker TM Lewin has called in administrators for the second time in less than two years, becoming the latest victim of the general shift to working from home. The business, which operated 150 shops before the pandemic, has operated a solely online business since first calling in administrators in June 2020. As well as its specialism, shirts, it sells suits, knitwear, coats and accessories such as ties. - Guardian

AstraZeneca is braced to abandon efforts to get its Covid vaccine approved in the US if it is simply "banging its head against a brick wall indefinitely" with regulators. Sir Mene Pangalos, AstraZeneca's head of research and development, said the company did not need to "push [its Covid-19 vaccine] in places we are not needed or wanted". - Telegraph

HSBC may be closing down dozens more of its branches in the real world, but in the virtual world the bank is embarking on an expansion drive. It has bought a plot of virtual real estate in The Sandbox, an online gaming space majority-owned by the Hong Kong-based Animoca Brands. The bank did not say how much it paid for the land, which it will use to engage with its customers and sports and gaming fans in the metaverse. - The Times

MPs have called on the government to explain why it has barred administrators to Bulb Energy from hedging its gas and electricity purchases, leaving taxpayers exposed to rising costs as prices soar. Britain's seventh-biggest household energy supplier collapsed in November with 1.6 million customers and was placed into a government-backed special administration regime. The administrators, from Teneo, were provided with an initial £1.7 billion taxpayer loan. - The Times

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(Sharecast News) - Bars, clubs and restaurants will offer up to 100,000 jobs to young people not in employment, education or training (Neet) over the next three years in an effort to give them a first step on the ladder into work. The move comes before the publication of a report on Neets by the former health secretary Alan Milburn, who has warned that the number of young people not in work or education in the UK could rise to 1.25 million over the next five years unless ministers intervene. - Guardian
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Wednesday newspaper round-up: Tariffs, BitMEX, Character.AI
(Sharecast News) - The business secretary has hit back at European demands for British tariffs on Chinese imports, saying the government will not change its trade rules because of pressure from Brussels. Jonathan Reynolds warned that the government would not bow to calls from other countries for the UK to hit Chinese vehicles with import taxes, despite political pressure to align with the EU in exchange for deeper future economic ties. - Guardian
Tue 13 Oct 2026 07:17
Tuesday newspaper round-up: IMF warning, Poundland, Burberry
(Sharecast News) - The global economy "could soon test the limits of resilience", as emergency oil stocks run low and government budgets become overstretched, the International Monetary Fund has warned. In its twice-yearly World Economic Outlook, the IMF said global growth had withstood the Middle East conflict better than feared over the past six months. It said the rerouting of oil supplies away from the strait of Hormuz, and the release of strategic energy stocks, had helped to contain the impact on oil prices from the US-Iran war. - Guardian
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(Sharecast News) - John Healey has been warned by Britain's leading tax and spending experts that his budget risks being a "work of fiction" unless he sets out plans to cover £35bn in spending pressures. As the war in the Middle East rattles the public finances, the Institute for Fiscal Studies (IFS) said the damage from higher inflation meant the chancellor would need to either top up funds for his current government spending plans or impose deep real-terms cuts by the end of the decade. - Guardian

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