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Wednesday newspaper round-up: Minimum wage, energy crisis, Eurostar

(Sharecast News) - The minimum wage should be increased to £15 an hour as soon as possible to help millions of low-paid workers struggling amid the cost of living crisis, the TUC has said. In a move that opens a fresh policy gap between unions and Keir Starmer's Labour party, the TUC has thrown its weight behind calls for a more ambitious legal floor on pay rates. The union body said the government needed to draw up plans to get wages rising as workers suffer the biggest hit to living standards on record. - Guardian Ministers could face an additional £23bn price tag for covering extra household energy costs of £900 this autumn, rising to £90bn next year, a new paper by the Institute for Government has found. The paper, looking at the options for Liz Truss or Rishi Sunak in No 10, also warned the government should plan for prolonged rises in energy bills by going a lot further in making public appeals to use less gas - for example by informing consumers about the cost savings from turning down thermostats - and in committing to building more energy efficient homes to help protect consumers. - Guardian

Industry chiefs are preparing for the energy crisis to last for another three years as National Grid draws up emergency plans to reduce power demand from factories across Britain. Large industrial companies would be paid to cut gas usage every winter until 2025 as National Grid attempts to avoid uncontrolled blackouts that would cause "a major economic and societal impact". - Telegraph

Eurostar trains will not stop in Kent for up to three years, the operator said as it blamed the decision on Brexit and its post-pandemic recovery. The county could remain disconnected from the Continent until 2025 after the train company dashed hopes of a gradual return of services next year. - Telegraph

The Dutch state railway, one of the biggest backers of Britain's train network via its Abellio subsidiary, is quitting the UK. Abellio UK, which employs 15,000 people as operator of Greater Anglia, East Midlands Railway, West Midlands Railway and Merseyrail, and has substantial operations in the London bus market, is set to be sold by Nederlandse Spoorwegen to local management. - The Times

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Thursday newspaper round-up: Asda, Post Office, M&S, Frasers Group
(Sharecast News) - The owners of Asda are facing mounting pressure after figures showed the struggling supermarket chain's share of the grocery market reached a "new nadir" as sales fell sharply this summer. The grocer's sales fell 6.4% in the three months to 10 August, equivalent to more than £2bn in annual lost revenues, as it became the only member of the traditional "big four" supermarkets to see sales shrink, according to analysts at NIQ. - Guardian
Wednesday newspaper round-up: Waitrose, McDonald's, Crown Agents
(Sharecast News) - Waitrose is planning to open 100 convenience stores over the next five years as part of a £1bn-plus investment in new outlets and shop refurbishments. The upmarket grocery chain is planning to unveil a revamped outlet in Finchley Road, north London, on Wednesday. This will kick off a new phase of expansion with its first new store in six years in Hampton Hill, west London, by the end of this year. - Guardian
Tuesday newspaper round-up: Missing yacht, City Airport, energy bills
(Sharecast News) - Morgan Stanley International chairman Jonathan Bloomer is among those missing after a yacht carrying UK tech entrepreneur Mike Lynch sank off the coast of Sicily during a violent storm, an Italian official has said. Salvatore Cocina, head of the civil protection agency in Sicily, said Bloomer and Chris Morvillo, a lawyer at Clifford Chance, were among the six people missing. Lynch and his 18-year-old daughter, Hannah, were also unaccounted for as of late Monday. - Guardian
Monday newspaper round-up: Ted Baker, banks, Boohoo
(Sharecast News) - Fashion brand Ted Baker's remaining 31 stores in the UK are to close this week, putting more than 500 jobs at risk. Started as a men's clothing label in Glasgow in 1988 by entrepreneur Ray Kelvin and becoming known for its quirky advertising and floral prints, Ted Baker's UK arm entered administration in March after racking up losses. - Guardian

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