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Evening Standard
November new car production at ‘lowest level since 1984’ as chip shortages bite, SMMT reveals
UK car production fell to its lowest November level since 1984 last month amid an ongoing global semiconductor shortage, latest figures from the Society of Motor Manufacturers and Traders (SMMT) have revealed.Production fell -28.7% to 75,756 units, the worst figure seen in 37 years, the trade body reported. It marked the fifth consecutive month of …
Business
Evening Standard
Deliveroo opens giant new ‘dark kitchens’ in three London areas
Deliveroo has opened giant new “dark kitchen” sites in three London areas as it pursues further expansion.The food delivery firm, which went public in March, partners with restaurants to operate so-called “dark kitchen” sites – spaces for chefs to prepare takeaway meals only. A trio of new sites opened today in Acton, Brent Cross and …
Business
Evening Standard
Omicron taking its toll on the economy, warns CBI
Uncertainty caused by the emergence of Omicron is already weighing heavy on the economy, the latest figures from the CBI show.Its survey of 516 firms between November 22 and December 14 produces an index score of just +21, down from +32 last month.That’s the slowest rate of growth since last April, and indicates that the …
Business
Sky News
Ryanair counts cost of Omicron-driven ‘sudden downturn’ in bookings
Ryanair has revealed a “sudden downturn” in Christmas bookings has prompted it to slash January flights and pencil in annual losses more than twice as large as previously expected.The Dublin-based airline disclosed the figures as it outlined the financial impact of the Omicron variant and recent government restrictions designed to tackle its spread. It said …
Business
Sky News
Gove holds summit with high street banks amid cladding crisis
Michael Gove has held fresh talks with Britain’s biggest lenders in a bid to ease the cladding crisis that has left thousands of homeowners unable to sell their properties.Sky News understands that the secretary of state for levelling up, housing and communities (DLUHC) met executives from lenders including Barclays, Lloyds Banking Group and Nationwide on …
Business
Sky News
Arsenal censured by watchdog over crypto token ads
Arsenal football club has been ticked off by the advertising watchdog over its promotion of fan tokens saying it “trivialised investment in cryptoassets”.The Advertising Standards Agency (ASA) said two ads posted in August on the Premier League club’s website and Facebook page were misleading. It said they did not make clear the risks of trading …
Business
Sky News
Economy slowdown worse than thought even before Omicron, revised data shows
Britain’s slowing economic recovery was even weaker than previously thought over the summer, according to revised official data.The updated figures from the Office for National Statistics (ONS) showed gross domestic product (GDP) rose by 1.1% in the third quarter, down from an earlier estimate of 1.3%. They add to more recent evidence that the UK’s …
Business
Business Live
Plans for 170-job cable factory put to local community in Northumberland
Proposals for a subsea cable factory that could create 170 new jobs in Northumberland have been presented to the local community. JDR Cables, which already has sites in the North East at Newcastle and Hartlepool, wants to build the new manufacturing facility at Cambois, near Blyth. The company has presented detailed proposals for the scheme …
Business
Business Live
Lockdown hobby becomes successful Tyneside promenade pizza business Ritrovo
A former factory manager in South Tyneside has turned a lockdown hobby into a successful start-up pizza business. Jonnie Halling has a strong background in food production, having spent the last eight years managing the factory at Minchella & Co in South Shields. He developed a love for pizza-making during the pandemic and has now …
Business
Business Live
Financial firms could be made to pay compensation after bad pension advice given to steelworkers
Firms found to have provided bad advice to former members of the British Steel Pension Scheme have been warned they will be expected to pay compensation. The Financial Conduct Authority is launching a redress scheme after hundreds of losses were discovered. In what has been described as a “highly exceptional case”, analysis indicates 47 per …
Business
Business Live
Businesses need to embrace change if they don’t want to be outpaced by firms which do
With Plan B now officially backed by the commons and daily headlines warning of further restrictions in the form of a potential ‘Plan C’, businesses are once again wrestling with Covid-19-related uncertainty that many hoped were behind them. Thankfully, Welsh business leaders have shown great resilience and become very good at dealing with changing government …
Business
Business Live
Rishi Sunak’s Omicron support package ‘doesn’t touch the sides’
Chancellor Rishi Sunak has been criticised for not doing enough to support businesses hit by the Omicron Covid variant. The director of a South West chamber of commerce said the financial package announced by Mr Sunak wouldn’t “touch the sides” for many businesses struggling in the wake of rising cases. One-off grants of up to …

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