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Evening Standard
UK private sector returns to growth in February
UKprivate sector firms’ output increased on a month-on-month basis for the first time since July 2022, according to S&P Global.S&P’s CIPS Flash UK PMI Composite Output Index registered at 53.0 for February, the first time the figure has been above the no-change figure of 50 in more than half a year.Manufacturing output reached a nine-month …
Business
Business Live
Steel site to benefit from multi-million pound upgrade
A steelworks in North Wales is benefitting from one of the biggest investments on its site in recent years. Tata Steel in Shotton is investing £3m to upgrade its colour coating paint process in a bid to improve quality, make cost savings and reduce paint use by 650,000 litres a year. The funding will be …
Business
Business Live
Cost of Hinkley Point C nuclear plant could inflate to more than £30bn
Hinkley Point C, the nuclear power station being built in Somerset, could now cost more than £30bn to complete due to inflation, it has been announced. Last year the plant’s developer, French energy giant EDF, revised its estimate for finishing the facility near Bridgwater up by £3bn to between £25bn and £26bn, following a review …
Business
Business Live
New base to unite Wozair’s Hull industrial acquisitions as it steps up scale of operations
A company that has bought two Hull specialist businesses in the past four years has launched its new city base, with plans to expand and create more jobs. Wozair Energy Holdings bought Thermoplant Offshore Services in 2019, adding North Sea Ventilation and Air Conditioning late last year. The plan is to combine the two on …
Business
Business Live
German software firm signals UK expansion with Birmingham launch
A German software and logistics company has announced plans to expand into the UK by launching a base in Birmingham. Munich-based Alaiko specialises in fulfilment services by handling logistics for direct-to-consumer online businesses. It is now planning to create 120 new jobs, including a significant R&D function in the city, and a further 80 at …
Business
Evening Standard
Profits jump at HSBC as it moves to fend off break-up calls from China
HSBC today moved to fend off pressure from one its biggest shareholders to break up the group and return chunks of cash to investors.Ping An, a Chinese financial group which has a long history with Britain’s biggest bank, thinks it should split the Asian and Western arms in two, clearly believing the Asian arm to …
Business
Business Live
Airport tech firm AeroCloud to double headcount after raising $12.6m
A Cheshire company behind an airport management platform has plans to double its headcount after raising $12.6m. The Series A funding round into Macclesfield-based AeroCloud was led by US fund Stage 2 Capital and supported by I2BF Global Ventures, Triple Point Ventures and Praetura Ventures. Existing investors Playfair Capital and The Praetura and Haatch also …
Business
Evening Standard
Holiday Inn owner IHG buoyed by returning travel after Covid impact
InterContinental Hotels Group (IHG) shares dipped this morning despite a $750 million buyback, as trading returned to pre-pandemic levels in London but CFO Paul Edgecliffe-Johnson said there was still more recovery to come in the capital.The business rebounded from the pandemic with $1.83 billion in revenue, though this was towards the lower end of analysts’ …
Business
Evening Standard
“Still more recovery to come in London” for IHG, despite revenue above pre-pandemic levels
InterContinental Hotels Group (IHG) shares dipped this morning despite a $750 million buyback, as trading returned to pre-pandemic levels in London but CFO Paul Edgecliffe-Johnson said there was still more recovery to come in the capital.The business rebounded from the pandemic with $1.83 billion in revenue, though this was towards the lower end of analysts’ …
Business
Evening Standard
Government posts surprise January budget surplus after record income tax haul
The UK government recorded a monthly surplus in January despite “substantial spending” on energy support schemes, record debt interest and one-off payments to the EU.The Office for National Statistics (ONS) said there was a public sector net borrowing surplus of £5.4 billion for the month.It was a £7.1 billion smaller surplus than in January 2022 …
Business
Sky News
Brexit deal over Northern Ireland not likely this week, minister suggests
A deal to resolve post-Brexit trading issues in Northern Ireland is not likely this week, a minister has suggested. Maria Caulfield told Sky News Rishi Sunak is “working really hard” to fix problems with the contentious Northern Ireland Protocol, amid signs of a possible Tory rebellion. Asked about the prospect of a breakthrough this week …
Business
Sky News
Hunt to ‘stick to plan’ despite borrowing £30bn less than predicted in year to date
Public borrowing in the financial year to date is £30.6bn less than predicted by the Office for Budget Responsibility (OBR), according to the last set of official figures before next month’s budget.The Office for National Statistics (ONS) reported a £5.4bn surplus for the chancellor in January – aided by the highest January figure for self-assessment …

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