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Spencer toasts strong trading performance as turnover is back on track after Covid impact
A strong trading performance has been delivered by Hull-headquartered engineering business C Spencer Ltd. Significant growth in turnover and profit saw revenues return to levels last seen in 2018 – ahead of a year dominated by Brexit uncertainty and project pauses, which then ran into the Covid pandemic. Turnover of £70 million represented an increase …
Business
Evening Standard
London pint prices hit £8 as squeeze hurts Marston’s
Pint prices in London are hitting £8, the boss of pub chain Marston’s has said, after the company reported a drop in sales amid rising cost pressures for hospitality firms.“Premium pints are sitting at £7-8 in London but in Wales we’ve still got beers at £3 a pint,” boss Andrew Andrea told the Standard.“We’ve moved …
Business
Business Live
Sales and profits up at biggest UK brick maker despite industry-wide inflation and supply chain challenges
Britain’s biggest brick maker Ibstock said it has seen a big jump in revenues and profits despite industry-wide inflation and supply chain challenges. The Leicestershire-headquartered business said it had benefited from strong demand in the new build housing market as well as from customers carrying out repairs, maintenance and improvement work, and infrastructure contracts. At …
Business
Business Live
Sales at jewellery and watch retailer Beaverbrooks jump past £200m as profits more than double
Sales at jewellery and watch retailer Beaverbrooks jumped past £200m during its latest financial year as its profits more than doubled, according to new figures. The family-owned business has posted a group turnover of £202.4m for the 12 months to the end of February this year compared to £123.1m in 2021 and the £143.2m it …
Business
Business Live
Five ways to create a thriving innovation ecosystem within your organisation
Innovation isn’t the role of a team or a function. It’s the way an organisation operates, the way its people think and how they go about their day-to-day. But how does a business create a culture in which its people challenge the status quo, actively pose new ideas and work together to be part of …
Business
Business Live
FinTech Wales launches third accelerator programme
FinTech Wales has opened applications for its FinTech Wales Foundry third business accelerator programme. The not-for-profit membership organisation for the FinTech and Financial Services industry in Wales runs the 12-week, no-equity accelerator, the only one of its kind in Wales. The programme provides mentorship and support to help incubate, accelerate and scale start-up firms within …
Business
Evening Standard
Recession fears grow as bad debts jump at Lloyds Bank
FEARS about the UK tumbling into recession grew today when the UK’s biggest domestic bank set aside hundreds of millions of pounds to cover loan defaults.Lloyds Banking Group still made profits of £3.7 billion in the first half of the year, a result that beat City expectations.But the change in tone from a year ago …
Business
Sky News
Not lovin’ it: McDonald’s ups price of cheeseburger for first time in 14 years
The prospect of a 99p McDonald’s cheeseburger is no more as the fast food giant increases the price of several items on its menu amid the cost of living crisis.The company is raising the price of its signature cheeseburger for the first time in over 14 years, taking it to £1.19. It will also add …
Business
Sky News
Warning of worse to come as UK gas costs surge due to Europe supply crunch
Growing fears Russia may switch off supplies of natural gas to Europe have pushed UK wholesale prices to levels last seen in the early days of the war in Ukraine, with a market expert telling Sky News there is worse to come.The contract for next-month UK delivery was more than 12% higher at one stage …
Business
Sky News
UK gas costs surge as Europe faces supply crunch – with warnings of worse to come
Growing fears Russia may switch off supplies of natural gas to Europe have pushed UK wholesale prices to levels last seen in the early days of the war in Ukraine, with a market expert telling Sky News there is worse to come.The contract for next-month UK delivery was more than 12% higher at one stage …
Business
Evening Standard
British Business Bank backs £50 million fund for tech start-ups
A £50 million fund has been launched to help get British tech start-ups off the ground.Launched by venture capital business Concept Ventures, the fund will back at least 60 start-ups in the UK over four years, with investments ranging from £100k up to £600k.The fund includes a £30 million commitment from government-owned economic development investor …
Business
Sky News
Lloyds profits take hit as it sets aside £377m to cover loan defaults in tough economy
Lloyds Banking Group has set aside £377m to cover a possible increase in loan defaults as interest rates rise in the tough economy.The bank, which includes Halifax in its stable of brands, revealed pre-tax profits of £3.7bn for the first six months of the year. It was better than analysts had predicted, but down from …

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