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16.03.2023 - 09:54
Business
Business Live
Startup motor compliance firm to create new jobs in Swansea
A startup compliance firm for the car dealerships and garages has expansion on its radar after reaching £1m in turnover. The Compliance Guys, which was established during lockdown in 2020, is opening a new office in Fforestfach, Swansea creating 20 jobs. Regulated by the Financial Conduct Authority (FCA), the firm helps motor traders and retailers …
16.03.2023 - 09:28
Business
Evening Standard
No staff bonus at John Lewis as partnership plunges to hefty losses
The John Lewis Partnership plunged to a loss of £234 million for the year, and said it could not afford to pay staff their traditional bonus.Sharon White, the chairman, said it had been a “tough” time. “Inflation hit us like a hurricane” she told the Standard, “but customers are staying loyal to us.”She insists the …
16.03.2023 - 09:25
Business
Evening Standard
Labour would scrap Chancellor’s ‘gilded giveaway’ to wealthy pensions savers
Labour has pledged to scrap Jeremy Hunt’s “gilded giveaway” to higher earners as the Chancellor defended his multi-billion pound tax break on pensions savings.Mr Hunt said the abolition of the tax-free cap on the lifetime pensions allowance included in his Budget was needed to keep doctors in work as the NHS spends billions on agency …
16.03.2023 - 09:24
Business
Business Live
Construction firm Beard sees turnover build to pre-pandemic levels
Construction firm Beard saw its turnover rose above pre-pandemic levels, as it benefited from a “release of pent-up demand” from the previous two years. The 130-year-old business, which is headquartered in Swindon, raked in £165m as it completed 45 projects throughout last year. This was up from £144m in its previous financial year and also …
16.03.2023 - 09:23
Business
Evening Standard
European markets regain poise as Credit Suisse emergency loan calms bank fears
London’s FTSE 100 Index has rebounded after suffering its worst one-day performance since the start of the pandemic amid hopes a £45 billion emergency loan for Credit Suisse will calm fears over a banking crisis.The top tier rose 0.7%, up 50.1 points to 7394.6, in morning trading as banking stocks regained their poise following hefty …
16.03.2023 - 09:18
Business
Business Live
Profits slump for custom sofa seller DFS despite market share gains
Sofa retailer DFS saw half year pre-tax profits fall 16% amid a slowdown in consumer spending brought on by cost-of-living pressures. The Doncaster-based retailer has downgraded expectations for full year profits to between £30-£35m, at the lower end of its forecasts. Investors were told the furniture seller made underlying pre-tax profits of £7.1m in the …
16.03.2023 - 09:08
Business
Business Live
Wales has huge potential to be a world-leading science nation
This week, we’re marking British Science Week 2023, a 10-day celebration of science. We’re raising awareness of the importance of science and its impact on our daily lives, showcasing the diversity of science, technology, engineering, and mathematics (STEM), and engaging people in hands-on activities, events, and discussions. There is a shortage of scientists and engineers …
16.03.2023 - 09:08
Business
Sky News
TikTok banned from UK government phones
TikTok will be banned from UK government phones amid security concerns around the Chinese-owned video app, Cabinet Office minister Oliver Dowden has announced. In a statement to parliament, Mr Dowden said there “could” be a risk to how government data and information is used by the app. He said that that while TikTok use is …
16.03.2023 - 09:02
Business
Evening Standard
Currys appoints new chief to warm up its troubled Nordics business
The UK’s biggest electronics retailer has appointed a new regional chief for its troubled Nordic business as it moves to turn the unit around amid heavy competition from rivals there.Currys said Fredrik Tønnesen will step up from chief operating officer to take over from Erik Sønsterud, who is stepping down as regional CEO “with immediate …
16.03.2023 - 07:57
Business
Evening Standard
Banking fears ramp up after Credit Suisse £45 billion emergency loan
Fears over a banking crisis remained at the fore on Thursday after Credit Suisse said it would borrow up to 50 billion Swiss francs (£45 billion) from Switzerland’s central bank to bolster its finances, sparking hefty falls in Asian trading.The Hang Seng Index in China tumbled nearly 2% and Japan’s Nikkei 225 was almost 1% …
16.03.2023 - 07:29
Business
Sky News
Job cuts loom at John Lewis as it makes loss of £234m
Job losses are on the horizon at the John Lewis Partnership, which includes Waitrose and John Lewis shops, as the company posted an annual loss of £234m.No detail was given on the location or number of job cuts that will be made. “As we need to become more efficient and productive, that will have an …
16.03.2023 - 07:29
Business
Sky News
Hunt defends speed of his childcare budget giveaway as ‘biggest transformation in my lifetime’
Chancellor Jeremy Hunt has defended the speed of the rollout for his budget offer of free childcare for working parents, describing it as the “biggest transformation in childcare in my lifetime”.The new childcare package will see working families in England having access to 30 hours of free childcare per week for children aged between nine …
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