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10.01.2023 - 09:20
Business
Evening Standard
Teaching unions and Scottish Government still ‘some distance apart’ on pay deal
Teaching unions and the Scottish Government “remain some distance apart” from agreeing on the affordability of an improved pay offer, Scotland’s Education Secretary has said.Primary schools around the country have closed after last-ditch talks failed to prevent strike action, with secondary school staff set to walk out on Wednesday.Unions have demanded a 10% pay increase …
10.01.2023 - 09:06
Business
Evening Standard
Hornby shares slump as sales ‘behind budget’ amid cost-of-living pressure
Model train maker Hornby has warned that sales are “behind budget” due to pressure on consumer finances amid rocketing living costs.Shares in the company slid in early trading on Tuesday as a result.The London-listed firm blamed “the challenging consumer economic climate” as it said that the performance over the three months to December 31 will …
10.01.2023 - 09:00
Business
Business Live
Legal tech start-up expands with Birmingham office launch
A legal tech start-up which works with clients to help them prevent fraud and reduce risk is expanding with a new office launch in Birmingham. Verify 365 was founded in Stratford-upon-Avon two years ago and provides services which aim to streamline and simplify legal processes for businesses of all sizes and helps them verify clients’ …
10.01.2023 - 08:59
Business
Evening Standard
Card Factory raises earnings outlook despite postal strikes blow to online sales
Retailer Card Factory has upgraded its full-year earnings outlook, despite revealing a hit to its online sales from recent postal strikes.The greetings card and gifts group said store sales rose 7.1% on a like-for-like basis in the 11 months to the end of December as shoppers returned to the high street over the festive season.But …
10.01.2023 - 08:41
Business
Business Live
AO ‘cautiously optimistic’ as it raises expectations after focusing on profit
AO has said it is “cautiously optimistic” about its future prospects as it raised expectations after putting a greater focus on profitability. The Bolton-headquartered online electrical retailer has been targeting higher profits since the start of its current financial year, “prioritising more profitable cash generative sales and reducing costs”. The listed business said its UK …
10.01.2023 - 08:38
Business
Evening Standard
Star fund manager Terry Smith falls to earth as markets wobble
Star City fund manager Terry Smith issued a mea culpa today, as he admitted his stock picking skills have been found wanting.In his 13th annual letter to investors in the £22.5 billion Fundsmith Equity Fund he noted that the fund is up 299% since it began in November 2010.But it fell 13.8% in the year …
10.01.2023 - 08:18
Business
Business Live
Meet the three North East firms to make list of top 100 UK innovators
Three North East businesses have made it onto a list of the top 100 new UK innovators. Startups 100, the index of disruptive new startups, has released its 2023 list to showcase new companies which display innovation, strong finances and opportunity in their markets, as well as strong concepts and customer bases. The latest list …
10.01.2023 - 08:01
Business
Evening Standard
AO World ‘cautiously optimistic’ as cost-cutting boosts profits
AO World has said it is “cautiously optimistic” as the online electricals retailer revealed that moves to slash costs have helped the firm’s profits surpass expectations.Last year, the Bolton-based company closed its loss-making German business and launched actions designed to save at least £30 million a year by 2023-24, including axing a raft of senior …
10.01.2023 - 07:54
Business
Business Live
Subsea engineers Tekmar win £10m of projects including Middle East work
Subsea cabling specialist Tekmar has secured a series of contract wins worth a combined £10m for its cable protection products and deck equipment. The North East firm, which is considering a takeover offer, told the London Stock Exchange that its Pipeshield International Limited and Subsea Innovation Limited businesses would deliver the contracts, which includes work …
10.01.2023 - 07:30
Business
Sky News
Anti-strikes bill ‘will protect lives and respect right to strike’, minister says
Introducing mandatory minimum levels of service during strikes will protect people’s lives while respecting workers’ rights to stage walkouts, the business secretary has said.Grant Shapps told Sky News the anti-strikes bill he will introduce to parliament today will ensure there is no longer a “postcode lottery” for the public as key workers take action. The …
10.01.2023 - 05:57
Business
Sky News
Consumer spending figures add to evidence the UK is in recession
Consumer spending failed to keep pace with inflation in December, figures suggest, likely bolstering the view among economists that the UK is in recession.Closely watched data from the British Retail Consortium (BRC) and Barclaycard showed spending rose by 6.9% and 4.4% in value terms respectively in December compared to a year ago. Both readings fell …
09.01.2023 - 16:34
Business
Sky News
New scaled back energy support measures for businesses as old scheme to expire
Businesses are set to secure £5.5bn in scaled back government support to help them with their energy bills from the start of April, after the current scheme ends.The new Energy Bill Discount Scheme will reduce rather than cap energy costs for businesses and will last for 12 months. The latest measure replaces the Energy Bill …
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