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Over 20,000 new businesses registered in Wales in 2022
Over 20,000 new businesses were set up in Wales in 2022 reaching a record high for company formations, new data suggests. A total of 22,120 new Welsh firms were registered last year, an increase of 3.4% on the previous 12 months. While the number of companies that were dissolved in the same year was at …
Business
Evening Standard
British-Ukrainian car finance startup Carmoola raises £103.5 million
British-Ukrainian car financing startup Carmoola has raised £103.5 million between a series A funding round and a new debt facility, which it will use to grow its team.The business raised £8.5 million in series A funding led by fintech investment fund QED Investors, plus a debt facility of up to £95 million from NatWest.The Series …
Business
Business Live
Prices rises and Amazon recovery help improve profits at Science in Sport
Performance nutrition company Science in Sport’s profits have “strongly improved” following a second wave of prices rises and a recovery in Amazon’s global inventory. The brand, which has its main manufacturing base in Blackburn, Lancashire, added the reduction of Covid-19 in China has also contributed to a “strong start” to 2023. In a statement issued …
Business
Evening Standard
Lloyds Bank warns house prices to fall 7% this year as customers struggle with mortgages
A TUMBLE in UK house prices this year began to look a racing certainty today when the biggest mortgage bank forecast they would fall 7%.That call from Lloyds Bank comes on top of similar predictions from Nationwide (5%) and Santander (10%).At the fringes of finance, wilder talk of a spectacular crash has been heard but …
Business
Sky News
Bentley to end production of ‘iconic’ W12 petrol engine in move to electric
Bentley will end production of its “iconic” 12-cylinder petrol engine in April next year.More than 100,000 W12s have been built at the firm’s factory in Crewe, Cheshire over the past 20 years. The British luxury car manufacturer announced on Wednesday it will halt production of the famed W12 engine, launched in 2003, as it moves …
Business
Sky News
Britain’s biggest lender takes bad loan charge ahead of ‘mortgage shock’
The boss of Lloyds Banking Group has told Sky News a “mortgage shock” is awaiting around 200,000 of its home loan customers.In an interview with Ian King Live, Charlie Nunn said 10% of its mortgage customers were due to exit a fixed rate deal this year and it was actively speaking to many households about …
Business
Evening Standard
Unions warn British Steel jobs at risk amid coking ovens closure fears
Unions fear British Steel is set to announce the closure of coking ovens at one of its plants, with the loss of hundreds of jobs as the company warns it faces “significant challenges”.Union officials were told earlier this month the Chinese-owned company was considering closing coke ovens at its site in Scunthorpe.An announcement could be …
Business
Evening Standard
Bentley to end production of W12 petrol engine in move to electric motoring
Bentley will end production of its famed 12-cylinder petrol engine in April next year, the luxury car maker has announced.More than 100,000 examples of the W12 engine have been built at the company’s factory in Crewe, Cheshire over the past 20 years.The decision to halt production is part of the business’s move to electric motoring.Bentley …
Business
Evening Standard
Heathrow warns UK risks slipping behind in development of greener aviation fuel
Heathrow aims to triple usage of greener aviation fuel at the airport this year, but warned the UK risks falling behind other nations in developing production facilities.Chief executive John Holland-Kaye told the PA news agency that the west London airport has “led the way on decarbonising aviation” through sustainable aviation fuel (Saf) but supportive Government …
Business
Sky News
Asda limits purchase of some fruits and vegetables due to supply challenges
Asda has imposed a limit on some of the fruit and vegetables customers can buy due to supply shortages – and Morrisons is to follow suit on Wednesday.Asda is temporarily limiting the purchase of tomatoes, peppers, cucumbers, lettuce, salad bags, broccoli, cauliflower and raspberries to three of each item per customer. “Like other supermarkets, we …
Business
Sky News
There’s good news for the UK economy – but not necessarily for the chancellor
At any other time, any other the chancellor would be quite delighted by the economic data out this morning.According to a key measure of activity (the purchasing manager’s index), the economy is not contracting, but is expanding, at a decent whack too. It may be too early to conclude that the UK will avoid a …
Business
Sky News
Co-operative Bank turns corner with bid for £650m Sainsbury’s Bank mortgage book
The Co-operative Bank is underlining the revival in its financial performance by tabling an offer for a £650m loan portfolio being offloaded by rival Sainsbury’s Bank.Sky News has learnt that the Co-operative Bank, which is owned by a syndicate of private equity firms and hedge funds, is among the parties which have tabled a bid …

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