BUSINESS LIVE: Hays announces new chief executive

Among the companies with reports and trading updates today are Hays, Harbour Energy, Intertek and James Cropper. Read the Thursday 24 August Business Live blog below.

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More homes hit lettings market as sales stall – so will rents go down?

More homes are going up for rent, as stubborn owners increasingly shift from selling to letting when they don’t get the price they want.

Two years of near-double digit rent increases have seen renting become increasingly expensive, with demand from tenants far outstripping the supply of homes.

Hundreds of Wilko stores to close after rescue fails

Hundreds of Wilko stores are set to close and thousands of staff will lose their jobs after talks to buy it collapsed without a rescue deal last night.

The 93-year-old chain tumbled into administration this month – putting 400 stores and 12,000 jobs at risk.

North Sea firm cuts UK production as windfall tax backfires

North Sea oil and gas producer Ithaca Energy said the windfall tax has forced it to slash production in the UK.

The FTSE 250 company said it was writing off £58m as a direct impact from the levy, pushing it to scale back plans for the second half of 2023 and into 2024.