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Online4baby benefits from online switch as it eyes sales of £100m
An online retailer of baby products is aiming to reach a turnover of £100m in the next three years after posting record results for 2021. Greater Manchester-headquartered Online4baby achieved a turnover of £40m over the last 12 months, up from £31.5m in 2020 and £14m in 2019. The company said it has benefitted from the …
Business
Business Live
South West set for £15.5bn boost thanks to manufacturing exports
The South West’s economy is predicted to be boosted by £15.5bn in 2021 thanks to manufacturing exports, a new study has found. The research from Barclays Corporate Banking said manufacturers which don’t currently export but are planning to start selling products overseas could see the total soar to £16.2bn a year by 2030. The Export …
Business
Business Live
£450m North East electric battery gigaplant steps up a gear as contractors are appointed
Contractors have been appointed to create the battery gigafactory at the heart of a £1bn North East electric vehicle revolution – and are already in talks with local firms to get them involved. The Wates Group and Turner & Townsend have been appointed by Envision AESC to lead the design and project management of the …
Business
Sky News
British tourists to be banned from France amid rise in Omicron cases
British tourists are to be banned from France amid concern over the “extremely rapid” rise in Omicron COVID cases in the UK.From Saturday morning, France is barring travel to and from Britain without “compelling reasons”. Those reasons do not include tourism and business, Paris said.Whitty questioned by MPs on Omicron; a million could be isolating …
Business
Sky News
Sunak urged to ‘get on a plane’ to deliver fresh support for Omicron-hit businesses
Rishi Sunak has been urged to “get on a plane” back to the UK amid a growing clamour for support for businesses hit by warnings over Omicron.The chancellor is under pressure to respond because, though hospitality firms and shops remain open, they face a slump in trade thanks to Plan B work from home guidance …
Business
Sky News
Sunak cuts short California trip after being urged to ‘get on a plane’ to deal with businesses’ fears
Chancellor Rishi Sunak will cut short his trip to California after being urged to “get on a plane” back to the UK amid a growing clamour for support for businesses hit by warnings over Omicron.Mr Sunak will be returning early from his US stay to hold more talks with business chiefs in response to the fresh …
Business
Sky News
Online fashion retailer Boohoo warns over Omicron demand uncertainty
Boohoo has warned of a hit to profits and sales as the Omicron variant could “pose further demand uncertainty” and more customers returning purchases in the new year.The online retailer said it now expected sales growth for the year to the end of February of 12-14% compared to a previously-pencilled in 20-25% step-up, with profit …
Business
Evening Standard
Bank of England preview: Nightmare on Threadneedle Street as MPC poised for big decision on rates
Is the Bank of England about to put interest rates up?Its Monetary Policy Committee will decide at noon tomorrow, but the best guess is that it will hold them at 0.1%. The pressure on it is rising, especially after today’s surging inflation figures. Inflation is running at 5.1%. That is more than twice 2% the …
Business
Sky News
Horror show for Cineworld as £722m court ruling sends shares tumbling
As if Cineworld had not had enough to contend with during the last 12 months, while fighting for its life during the pandemic, it has now been slapped with a costly court defeat related to the period.The world’s second largest cinema operator said this morning that it will appeal against an overnight Canadian court ruling …
Business
Sky News
Energy price cap shake-up could see households locked into six-month deals
Households could be locked into six-month energy deals under proposals by Ofgem to shake up the price cap which protects millions of consumers – but which has also been blamed for the collapse of dozens of suppliers.The deals, similar to fixed-term mortgages, would see users pay a tariff set by the regulator in the month …
Business
Evening Standard
VC firm Balderton makes biggest ever crypto investment into London startup Ramp
Venture capital firm Balderton – behind giants from Darktrace to Revolut – has made its biggest ever cryptocurrency investment into London-based startup Ramp. One of Balderton’s top investors, Goldman Sachs veteran Rana Yared, is joining the payments infrastructure startup’s board as part of the $52.7 million (£40 million) funding round led by the VC firm. …
Business
Business Live
Banks Infrastructure wins first major earthworks contract at Nottinghamshire gypsum mine
The new infrastructure division of County Durham renewable energy and property firm The Banks Group has won its first major contract. Banks Infrastructure has taken over as principal contractor at Bantycock Quarry near Newark, Nottinghamshire, after winning a competitive tender from operators Saint-Gobain Formula. Gavin Styles, executive director at The Banks Group, said: “Our ability …

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