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05.01.2023 - 13:42
Business
Sky News
Encouraging high street numbers should be kept in perspective
A couple of swallows do not make a summer.That is the very heavy caveat which must be applied when asking whether, because Next and B&M fared better than expected over Christmas, the retail sector as a whole has done. A further caveat to be applied is that Lord Wolfson, the chief executive of Next, is …
05.01.2023 - 12:47
Business
Sky News
Christmas shoppers shrugged off rail strikes but business hurt by Royal Mail disruption
UK high streets do not appear to have suffered a major hit from rail strikes in the run-up to Christmas but business has been hurt by industrial action at Royal Mail, according to separate reports.Figures from retail consultants Springboard showed a 12.7% leap in visits to high streets during December compared to the same month …
05.01.2023 - 11:13
Business
Sky News
SafetyNet Credit parent close to collapse after FCA crackdown
A provider of high-cost credit to hundreds of thousands of Britons is on the brink of collapse following a crackdown on the industry by the City regulator.Sky News has learnt that Indigo Michael, the parent company of loan providers SafetyNet Credit and Tappily, filed a notice of intention to appoint administrators shortly before Christmas. The …
05.01.2023 - 10:28
Business
Business Live
Property investment firm Robert Hitchins acquires Bristol office building
A Gloucestershire property investment and development business has acquired an office building in Bristol city centre for an undisclosed sum. Robert Hitchins Investment Properties, which is headquartered in Boddington, has added 31-32 Queen Square to its growing portfolio in the city. The five-storey property, extending to a total 13,124 sq ft, is fully let to …
05.01.2023 - 10:09
Business
Business Live
Landmark Bristol office building secures two new lettings deals
Two companies have agreed lettings deals at one of Bristol’s landmark office buildings. Fathom, which provides mapping software for flooding and climate risk assessment, and events management firm Brightelm have taken space at Clifton Heights near Brandon Hill. Fathom is relocating from the nearby Square Works co-working space on Berkeley Square. The University of Bristol …
05.01.2023 - 10:05
Business
Business Live
Almost 50 jobs at risk at industrial manufacturer Exel Composites as it considers downsizing UK operations
Almost 50 jobs have been put at risk at an industrial manufacturer in a move which the business said could save around €1.6m a ear. Exel Composites has launched consultations with 48 employees at its Runcorn site over the possibility of downsizing its operations. The business, which is headquartered in Finland, designs, manufactures and sells …
05.01.2023 - 09:27
Business
Evening Standard
Sales of new cars sink to lowest level in three decades
Supply shortages have been blamed for new car registrations falling to the lowest level since 1992.Some 1.61 million new cars were registered in 2022, according to the Society of Motor Manufacturers and Traders (SMMT).That is down 2.0% compared with the 1.65 million registered during the previous 12 months and a quarter below pre-coronavirus levels.The SMMT …
05.01.2023 - 09:23
Business
Business Live
The South Wales Metro rail project needs to do far more for Cardiff
The Welsh Government and its transport body, Transport for Wales (TfW), can’t claim to be delivering Metro services for Cardiff, if half of its stations (10 out of 20) are only getting two trains per hour (2tph) once the Core Valley Lines (CVL) transformation is completed and new Stadler tram-trains and FLIRT trimodes are operating …
05.01.2023 - 09:21
Business
Evening Standard
Amazon announces fresh wave of layoffs taking total job cuts to 18,000
A fresh wave of tech sector layoffs could be about to hit the UK after Amazon said it would increase job cuts to 18,000 as it seeks to slash costs amid worsening global economic conditions.The Seattle-based e-commerce giant, which has seen its share price fall almost 50% over the past year, said the layoffs would …
05.01.2023 - 09:20
Business
Evening Standard
Mercurial Wolfson leads Next to strong Christmas trading
NEXT offered some festive cheer for the high street today, reporting a strong rise in sales and another profit uplift in guidance to the City.Under the mercurial Simon Wolfson, Next has a habit of beating expectations.Today was no different. In the nine weeks to December 30, full price sales were 4.8% higher than a year …
05.01.2023 - 09:18
Business
Evening Standard
Greggs sees sales surge despite several price rises
Bakery chain Greggs has revealed its sales surged by nearly a quarter over 2022 despite increasing the prices of its sausage rolls and other baked goods several times during the year.The low-cost food chain said total sales rose 23% over the 12 months to hit £1.51 billion, up from £1.23 billion the previous year.But Greggs …
05.01.2023 - 09:14
Business
Evening Standard
Next cheers better-than-expected Christmas but warns over tough year ahead
Retail chain Next has hiked its annual profit outlook after better-than-expected Christmas trading, but warned of further price rises and falling profits in a difficult year ahead.The high street giant posted a 4.8% rise in full-price sales for the nine weeks to December 30, with growth surging to 17% in the final two weeks, as …
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