Top Financial Stories: Wage Pressures, Start-Up Woes, and European Gas Storage

The Financial Times highlights key stories: long-term UK wage pressures, pandemic-era start-ups facing closure, a major capital raise for European tech start-ups, and underutilized Ukrainian gas storage due to Russian attacks. These stories reflect ongoing economic and geopolitical challenges.

UK wage pressures in the economy are expected to persist for years, according to Bank of England's Catherine Man, who also anticipates a rise in goods and services prices.

Dozens of small businesses, recipients of taxpayer-funded start-up loans from the pandemic-era Future Fund, are at risk of closure, risking additional losses for the scheme.

Balderton Capital, a backer of Revolut, has raised $1.3 billion in Europe's largest new venture fund aimed at start-ups, indicating a resurgence of capital in private technology companies.

European gas traders are largely avoiding Ukraine's extensive natural gas storage this summer due to risks heightened by Russian attacks, depriving Ukraine of much-needed revenue.

(With inputs from agencies.)