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Work starts on £1.5m locomotive maintenance facility
Construction work has started on a £1.5 million locomotive maintenance facility in Leicester city centre which will eventually lead to new jobs on the site. Rail vehicle engineering and maintenance provider UK Rail Leasing Ltd (UKRL), is building the depot at its base alongside the mainline track off Beal Street, near St George’s Retail Park …
Business
Sky News
Jeremy Hunt says economy will avoid recession in 2023 – with inflation set to plummet
Jeremy Hunt said the British economy is “proving the doubters wrong” and will avoid recession, as he delivered his first full budget speech to Parliament. The chancellor said the government’s plan for the economy was “working” as he announced what he called a “budget for growth”. Despite continuing global instability, the Office for Budget Responsibility …
Business
Sky News
Economy to avoid recession and inflation set to plummet, says chancellor – but living standards will fall
Jeremy Hunt said the British economy is “proving the doubters wrong” and will avoid recession, as he delivered his first full budget speech to Parliament. The chancellor said the government’s plan for the economy was “working” as he announced what he called a “budget for growth”. He said forecasts from the Office for Budget Responsibility …
Business
Business Live
Zero VAT call for solar-fed EV chargers from pioneering ecotech leader
One of Britain’s fastest growing companies is calling on the Government to “right a recent wrong” when it comes to helping the journey to Net Zero. Ecotech pioneer Myenergi wants to see a VAT exemption for solar-fed electric vehicle chargers in the Spring Budget. The Grimsby firm is behind the market-leading Zappi device, as well …
Business
Business Live
Nissan ‘disappointed’ as credit rating downgraded by S&P
Automotive giant Nissan’s credit rating has been downgraded by global agency S&P amid concerns the manufacturer’s profitability will be weaker than previously thought. S&P moved the Japanese firm’s rating to BB+/Stable from BBB-/Negative for the first time in 21 years, saying Ebitda margin and sales volumes had both been weak over the past two to …
Business
Evening Standard
‘This can’t go on’, says civil service union as staff walk out
A senior figure in the union representing civil servants has said “this can’t go on”, as staff walked out in their campaign for a pay rise.More than 130,000 members of the Public and Commercial Services (PCS) union are on strike across the UK on Wednesday, with thousands expected to take part in a rally in …
Business
Evening Standard
Prudential backs London in boost to City
PRUDENTIAL, the mighty insurer founded in 1848, today insisted it would keep its stock market listing in London, in a boost to the City.With businesses large and small complaining that other stock markets, notably New York, offer higher valuations and more fluid access to capital, the Pru said it has “no plans” to leave London.That’s …
Business
Business Live
Victorian Plumbing loses challenge over ‘UK’s largest online-only bathroom retailer’ claim
Victorian Plumbing has lost its challenge over a rival’s claim to be the “UK’s largest online-only bathroom retailer”. The Skelmersdale-headquartered company took issue text posted on Victoria Plum’s website in January 2022 and contacted the Advertising Standards Authority (ASA). However, the watchdog has not upheld the challenge, ruling that it considered consumers would understand from …
Business
Evening Standard
Zara parent firm Inditex posts jump in profit as shoppers return to stores
Zara owner Inditex has revealed record earnings as shoppers flooded back to stores despite the rising cost of living.The world’s largest fashion group revealed that earnings increased by a fifth to 8.6 billion euros (£7.6 billion) in 2022 compared with the previous year.The group, which also owns the Pull & Bear and Bershka brands, said …
Business
Evening Standard
How will the latest rail strikes affect each train operator?
Train services are being hit by strike action again.Members of the Rail, Maritime and Transport union (RMT) at train operators will walk out in a long-running dispute over pay, jobs and conditions on Thursday and Saturday.Many operators will only run trains for limited hours on those days.Those not involved in the dispute will see no …
Business
Evening Standard
Trainline reveals rail strike sales hit of up to £6m a day
Online rail ticketing business Trainline has said annual ticket sales fell short of expectations, as rail strikes left it nursing a hit of up to £6 million a day.The group said ongoing industrial action on UK railways cost it £5 million to £6 million in gross sales impact on average per strike day.It said overall …
Business
Sky News
The key budget announcements from the chancellor
The chancellor has announced the budget for 2023.The UK will now not enter a technical recession this year, the independent forecasters, the Office for Budget Responsibility (OBR) has said. Inflation will more than halve and reduce to 2.9% by the end of the year, the OBR expects.Here are the key points: • As expected, the …

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