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Sky News
UK economy narrowly avoids recession despite December hit from strikes and World Cup
The economy narrowly avoided recession in the second half of last year, according to early official figures, despite growth going into a sharp reverse in December partly due to the impact of strikes and lack of Premier League football.The Office for National Statistics (ONS) reported that output between October and December was flat at 0%. …
Business
Sky News
Used car sales find reverse gear on supply squeeze
Sales of used cars fell by 8.5% last year, according to industry figures highlighting a squeeze on stocks.The Society of Motor Manufacturers and Traders (SMMT) said 6.9 million vehicles changed hands in 2022 – only slightly more than the sum achieved in COVID-hit 2020. The total was down from 7.5 million during the previous 12 …
Business
Sky News
Deliveroo to cut hundreds of jobs globally – and UK to be worst hit
Takeaway delivery platform Deliveroo has announced it is to cut roughly 350 jobs, equivalent to about 9% of the company workforce.Roles across the global Deliveroo business will be impacted, founder and chief executive Will Shu told staff, but it is understood that UK employees will be worst hit by the losses. The majority of employees …
Business
Sky News
Sunak to meet business leaders for talks on boosting economy
The prime minister will hold talks on Friday with executives from some of the world’s biggest companies as he seeks fresh ideas to boost Britain’s economic prospects.Sky News understands that Rishi Sunak will attend a meeting of the UK Investment Council, which counts executives from Airbus, HSBC, the 3 UK owner Hutchison Whampoa, Nestle and …
Business
Sky News
Nursery fees ‘to rise by £1,000 this year’ – forcing parents to quit work
The soaring cost of childcare in the UK is revealed in new figures today, suggesting nurseries will raise fees by £1,000 this year.A survey of 1,156 providers by the Early Years Alliance found nine out of 10 expect to increase fees, typically in April, and by an average of 8% – higher than in previous …
Business
Business Live
From farming robots to coral reef ‘cubes’: The tech firms named ones to watch in the South West
Farming robots, ‘Google Maps for boats’ and artificial coral reef cubes are amongst the technologies celebrated in the first ever Tech South West Ones to Watch company showcase in 2023. Nominated by tech hubs, clusters and science parks across the South West, the Ones to Watch project showcases 22 of the tech sector’s most exciting …
Business
Business Live
More than 11,000 young people in Wales supported to find work
More than 11,000 young people have been supported to find jobs during the first year of the Welsh Government’s youth employment programme, Economy Minister, Vaughan Gething has confirmed. Its Young Person’s Guarantee (YPG) provides under 25s in Wales with the offer of support to gain a place in education or training, find a job or …
Business
Business Live
National Apprenticeship Week 2023: Fresh funding round for apprenticeship campaign
A campaign launched to create new apprenticeships across Birmingham and Solihull has received a fresh round of funding. The Ladder for Greater Birmingham is now targeting 1,000 new apprentice starts after securing £50,000 in backing from the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP). This is the fourth round of funding from the LEP …
Business
Business Live
Jobs saved after film and TV equipment hire firm bought out of administration
Jobs have been saved after a Greater Manchester firm that hires out film and TV equipment was bought out of administration. Newton Heath-based Pro-Motion Hire has been acquired by Pixipixel Rental for an undisclosed sum. The deal, which was secured by administrators from business advisory firm Quantuma, has saved all 28 jobs. READ MORE: Click …
Business
Evening Standard
Watches of Switzerland sales grow as timepieces become “investment assets”
There was no sign of a slowdown in the luxury watch market, as Watches of Switzerland reported a 17% increase in revenue for the three months to 29 January, but shares fell amid slow growth in jewellery sales.The company, which owns brands including Rolex, Patek Philippe and TagHeuer, brought in £402 million during the period. …
Business
Business Live
Former company of the year Metnor Construction to file for administration
Newcastle contractor Metnor Construction has filed a notice of intention to appoint administrators. The Killingworth company, which won the Northumberland and Tyneside Company of the Year award in 2017, is understood to have been in early discussions with business advisors in the North East, after falling into financial difficulties. Calls to the company’s group head …
Business
Evening Standard
End of vaccine boost for AstraZeneca as it looks elsewhere for growth
The boost to Astrazeneca’s growth fuelled by its coronavirus vaccine is coming to an end as the firm looks to new medicines for future streams of income.The Cambridge-based business said it would see double-digit growth excluding Covid-19 medicines in 2023, but more modest single-digit growth when they are factored in.Boss Pascal Soriot said: “We plan …

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