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Tech components firm Gooch and Housego expects inflation to hit profits
Tech components manufacturer Gooch and Housego has said it is making “steady” progress in reducing lead times after increasing production capacity, though bosses have said they expect inflation to impact profits. The Aim-listed firm, which makes photonic systems used in the aerospace and defence sectors as well as scientific research, said it had invested in …
Business
Business Live
JD Sports to build landmark headquarters with space for 2,000 staff after go-ahead granted
JD Sports is to build a new landmark headquarters in Greater Manchester with space for up to 2,000 employees after the go-ahead was granted. Land in Hollins Brook Way, Pilsworth, has been earmarked for the scheme when it submitted the proposals for consideration last year. The plans, which also include a gym and a restaurant, …
Business
Sky News
British Steel cuts 7% of workforce despite government funding talks
British Steel has revealed it is to cut 260 jobs, almost 7% of its workforce, despite continuing government funding talks with its Chinese owners. It was announced that the losses would be felt at its Scunthorpe plant through the closure of its coking ovens – used to turn coal into the high-temperature product needed to …
Business
Business Live
Metnor Construction collapses into administration with all 80 jobs lost
A total of 80 jobs have been lost after administrators were officially appointed at long-standing North East firm Metnor Construction. Steven Ross and Allan Kelly of specialist business advisory firm FRP were appointed as joint administrators to the Killingworth construction and engineering firm on Tuesday, following weeks of discussion. The firm – a former Tyneside …
Business
Business Live
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 …

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