The government has yet to respond in detail to the latest, shocking findings about the poor performance of for-profit social care providers, and what a report from Oxford University calls the “astounding pace” of children’s home privatisation. But the revelation that almost all the residential care settings forced to close by regulators in the 12…

A rescue deal for the UK arm of TGI Fridays has been struck, with two private equity groups to buy 51 restaurants – although a further 35 outlets are to close with the loss of more than 1,000 jobs. Calveton UK and Breal Capital, which own upmarket restaurants including Le Pont de la Tour, Quaglino’s…

A woman in Lincolnshire has had her application for her dream job as a stunt rider returned 48 years after applying for the role. Tizi Hodson, 70, from Gedney Hill, opened the post to find a letter she had sent applying for to be a motorcycle stunt rider in January 1976, with a note explaining…

Rachel Reeves has decided not to raise tax on pensions contributions in this month’s budget, after public sector unions warned that doing so would hurt their members. The chancellor is understood to have decided against the move, which had been considered as one of a number of tax rises designed to repair the hole in…

The first-ever chief executive of the John Lewis Partnership is having his role axed as part of a reshuffle under Jason Tarry, as the new chair accelerates a turnaround plan only weeks after taking the reins from his predecessor Sharon White. JLP, which owns the Waitrose supermarket chain and 34 department stores, said that Nish…

The government is being urged by consumer champions and truck hauliers to introduce urgent legislation to protect the funding mechanism that helped the campaigner Sir Alan Bates sue the Post Office. In an open letter to the government, a number of those bringing mass-action-style lawsuits have pushed for ministers to protect the litigation funding sector…

Southern Water is looking to borrow up to £4bn from investors over the next five years, in a move that could ratchet up the pressure on utility companies turning to bond markets for support amid the ongoing crisis at Thames Water. An investor presentation posted to Southern Water’s website shows that it will need to…

Introduction: UK house prices rise for third month running, close to record high Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. UK house prices have risen for the third straight month, lender Halifax reports this morning, helped by lower borrowing costs. According to Halifax, the average…

UK house prices climbed for the third month in a row in September to about £200 short of a record high as rising worker pay and falling interest rates helped make mortgages more affordable for some homebuyers, according to a leading index. Data released by Halifax, Britain’s biggest mortgage lender, showed that prices climbed by…

A plan to redraw the energy market risks undermining Britain’s industrial sector and its mission to attract billions in green energy investments, according to major business groups. In a letter to Ed Miliband, the energy secretary, trade groups representing some of the biggest investors in green energy and manufacturing have spoken out against the government’s…