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Magnet owner Nobia restructures with closure of two factories and 92 redundancies
The North East operation of kitchens retailer Magnet has remained unscathed in a group-wide shake up which has closed its Dewsbury and Grays factory locations. In a restructuring of its UK business, Magnet operator Nobia said it needed to address underperformance in its ‘Projects’ business, which includes the sale of kitchens to public and private …
Business
Business Live
Grimsby welcomes frozen at sea pelagic catch as fishing vessel makes port a regular return
Grimsby’s Royal Dock has been added to a UK fishing company’s regular landing list, with a third discharge this year. North Atlantic Fishing Company subsidiary Wirons Ltd, has just made its latest port call with Wiron Six, a 55m seine net trawler. She landed pelagic species caught in UK waters, calling on a clutch of …
Business
Evening Standard
Small businesses lost four million trading days to strikes in six months – study
Smaller firms have lost an estimated 680,000 days of trading every month because of the wave of strikes across the country since last year, new research suggests.A study by small business lender iwoca indicated that around four million days of trading were lost over the last six months.A third of 500 small to medium sized …
Business
Evening Standard
Amigo Loans to be liquidated after failing to raise enough funds
Amigo Loans is set to be liquidated after the lender was unable to raise enough capital to continue trading.The firm said it would stop lending with immediate effect before being placed into an orderly wind-down, with surplus assets being transferred to the creditors of its compensation scheme, in a move that is set to lead …
Business
Sky News
More Amazon strikes on the cards after ‘insulting’ pay rise
Striking Amazon workers have vowed to step up industrial action following an “insulting” new pay rise.It comes after Amazon announced on Wednesday that it will increase the minimum starting salary of its UK workforce by at least 50p to between £11 and £12 per hour from April. The company said the exact amount will vary …
Business
Business Live
£100m fund raise launches for innovative Hull plastics recycling plant
A company looking to bring innovative waste solutions to the Humber Bank has launched a £100 million fund raise to build its first plant. Terrae Novo is a Leeds start-up working on converting non-recyclable plastic and bio waste into new plastics and low-carbon fuels. It has gained planning permission for a site at Saltend Chemicals …
Business
Business Live
Digbeth Loc. Studios launched with mission to create 760 jobs
New film and TV production studios which could create 760 jobs have been launched in Birmingham. Spades have gone in the ground at the Digbeth Loc. project which is being spearheaded by Peaky Blinders creator Steven Knight. Construction on the site is expected to complete in July, ready for occupation, with the first filming then …
Business
Evening Standard
How food items have increased in price over the past year
The vegetable shortages behind the unexpected surge in inflation saw some of the UK’s biggest supermarkets imposing buyer limits on customers as shelves ran bare.The shortages contributed to an exceptional 18.5% surge in the price of fresh or chilled vegetables other than potatoes, the Office for National Statistics reported.Shoppers started seeing shortages of tomatoes on …
Business
Evening Standard
Vistry sees profit dip as it sets aside cash for post-Grenfell safety upgrades
Housebuilder Vistry has said that profit dropped by more than a fifth last year as it set aside cash to make buildings fire safe in the wake of the 2017 Grenfell fire.The builder said it had set aside £97 million during the year, helping to push down pre-tax profit by 22.5% to £247.5 million.Stripping out …
Business
Sky News
Inflation rise surprised even the Bank of England – and now interest rate hike looks near-certain
The surprise increase in inflation will give policymakers pause for thought.Just days ago, inflation appeared to be coming down nicely and some were talking down the chances of another interest rate hike. However, February’s inflation data shows that the scale of the inflation challenge cannot be underestimated.Although economists – and the Bank of England – …
Business
Business Live
WANdisco appoints Ken Lever as chair to lead investigation into potential fraud
Tech firm WANdisco has appointed experienced non-executive Ken Lever as chair of its board following the uncovering of potentially fraudulent activity it says has cast doubt over its future. The Sheffield-based business has recruited the former member of the Accounting Standards Committee of the Financial Reporting Council and veteran financial director as chair of its …
Business
Business Live
£60m investment deal for Birmingham software firm
A Birmingham-based software provider has secured £60 million of investment. Joblogic, which employs 200 staff and supplies cloud-based field service management software, has secured the capital from Axiom Equity, a business-to-business growth equity fund. The investment will be used to accelerate Joblogic’s international growth and product innovation as it continues to support thousands of customers …

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