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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 …
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 …
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 …
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 …
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 …
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 …
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 …
Business
Business Live
Green light for phase one of 4,000-home scheme
The first phase of a major residential development which is set to create around 360 jobs has been given outline consent. The 34-acre project in Rugby will see 210 houses and a new primary school built on land off Cawston Lane and will also include open space, play areas, a woodland buffer and highways improvements. …
Business
Sky News
Christmas sales figures at Next far exceed expectations
Next performed better than expected over the Christmas period and has increased its profit outlook as a result, painting a positive picture for retail over the Christmas period. Sales were up nearly 5% in the nine weeks to 30 December on the same period in 2021, far outpacing the 2% reduction the retailer had forecast …
Business
Sky News
Christmas sales figures at major high street outlets far exceed expectations
Major high street outlets performed better than expected over the Christmas period and Next increased its profit outlook as a result, painting a positive picture for retail.Sales were up nearly 5% at Next in the nine weeks to 30 December on the same period in 2021, far outpacing the 2% reduction the retailer had forecast …
Business
Sky News
Amazon cutting 18,000 jobs, and reveals which areas are hardest hit
Amazon has announced that it is cutting 18,000 jobs – the biggest round of layoffs in the company’s history with the UK understood to be affected.In a note to employees, chief executive Andy Jassy confirmed that the consumer retail part of the business – including Amazon Fresh, Amazon Go and online stores – will be …
Business
Sky News
Energy support for business to be cut but no decision yet on how much
Government support for business energy bills will be cut in April as the chancellor moves to reduce taxpayer exposure to the soaring cost of gas and electricity in 2023.Jeremy Hunt told business leaders and trade groups they should expect state support to be reduced when the current support package ends in the spring, having cost …

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