Dr Bernanke’s review recommends the Bank must thoroughly update its whole framework for forecasting the economy, overhauling or scrapping its existing software, known as Compass (Central Organising Model for Projection Analysis and Scenario Simulation). Source link

The telecoms entrepreneur who turned Daisy Group into one of the industry’s most successful private companies is closing in on the latest in a string of significant takeover deals. Sky News has learnt that Matthew Riley, Daisy’s chairman, has orchestrated a £215m deal to acquire 4Com, a provider of cloud …

Former Post Office boss Alan Cook didn’t realise it prosecuted its own staff, an inquiry into the Horizon IT scandal hears. Source link

Poor software and bias toward making only small, sequential changes is one of the reasons economic forecasters at the Bank of England failed to predict and prepare for the cost of living crisis, brought about by high inflation, according to a “once in a generation” review. The review announced last …

A former Post Office boss has said he wanted “most strongly” to record his personal apology to branch managers impacted by the Horizon IT scandal. As managing director of the group from 2006 to 2010, Alan Cook was at the helm when about 200 prosecutions were brought against subpostmasters. He …

The economy grew by 0.1%, official figures show, with the production sector providing the biggest boost. Source link

These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally. Most of the time, thankfully, there’s no emergency. There’s always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking …

Financial markets are scaling back expectations about interest rate cuts in countries such as the UK this year. Many Western nations have imposed rate hikes in recent years as part of attempts to bring down soaring inflation – which has now started to ease. However, new figures in the US …

Human waste could soon be used to fuel air travel, following the announcement of a world-first factory. Biofuel company Firefly said it would develop a plant in Harwich, Essex, to convert sewage into sustainable aviation fuel (SAF). It said it expects to begin supplying the lower carbon fuel from around …

Hundreds of steelworkers are set to go on strike over the proposed closure of Port Talbot’s blast furnaces. Unite the Union announced the result of its strike ballot on Thursday but walkout dates are yet to be confirmed. Around 1,500 workers based in Port Talbot and Newport voted in favour …

Biofuel company Firefly says it has already made a deal to supply airline Wizz Air. Source link

The drugmaker AstraZeneca (AZ) promised this morning to raise its annual dividend by 7% this year. The UK’s biggest company said the pledge underlined its confidence in its performance and cash generation and had taken into account other capital allocation priorities as well as previously announced acquisitions and business development. …

David Smith apologises for congratulating the team behind the conviction of a pregnant postmistress, an inquiry hears. Source link

A victim of the Post Office scandal who was wrongly jailed while pregnant has rejected an apology from a former Post Office executive – who celebrated her conviction as “brilliant news” at the time. Former managing director David Smith made the apology to the Post Office Horizon IT inquiry, saying: …

Holidaymakers who had to be evacuated from Rhodes last year can get money off for hotel stays. Source link

As global satellite giant Viasat opens its new international headquarters in London, Ian King is joined by the company’s president Guru Gowrappan. Britain’s night-time economy has struggled to recover since the pandemic but one entrepreneur is betting on its revival. Mexican-Japanese restaurant brand Los Mochis will tonight open a 14,000 …

Retired athlete Stef Reid says the company doesn’t sell single shoes despite using amputee models. Source link

Months of extreme rainfall have created a “growing crisis” for British farmers. The National Farmers’ Union says “relentless heavy rain has left vast swathes of agricultural land saturated – and in many cases still underwater”. Constant downpours since October 2023 have rendered some fields unusable and ruined crops already planted. …

Sir Paul Marshall, the hedge fund tycoon, is preparing to step down from the board of GB News’ parent company as he eyes a renewed bid to acquire The Daily Telegraph. Sky News has learnt that Sir Paul, the co-founder of Marshall Wace and largest shareholder in the television news …

A senior MP tells the BBC that China is behind a surge in fakes being bought through online marketplaces. Source link