Discount supermarket, Aldi, has followed record results the year ending December 2023 with an £800 million investment plan to grow its business in Great Britain further. In its annual results, the supermarket recorded a £2.4 billion growth in sales in 2023, with pre-tax profits increasing from … [Read more...]
News for: General Business News
Stockport store among 113 saved as The Body Shop is bought out of administration
Ethical beauty retailer, The Body Shop, has been bought out of administration by specialist investment firm, Auréa, saving 1,300 jobs and keeping 113 UK stores open, including in Stockport. Administrators, FRP Advisory, had previously closed 85 of the brand's UK stores and made nearly 800 shop … [Read more...]
Sharp appoints new VP of IT Services to accelerate growth across Europe
Business technology provider, Sharp Europe, has announced the appointment of Roland Singer as its new Vice President of IT Services. The announcement comes as Sharp continues to establish and expand its IT services business across Europe since its inception in 2021. Roland takes on the new … [Read more...]
New Homes Accelerator launched to progress stalled developments
Deputy Prime Minister, Angela Rayner, has announced the launch of the New Homes Accelerator as part of plans to deliver 1.5 million new homes across the country. The accelerator team from the Ministry of Housing and Homes England will seek to help progress housing schemes that have been stalled … [Read more...]
Young people to change careers 50% more than their parents’ generation, finds Handelsbanken
Young adults aged between 18-34 expect to have an average of three different careers over their lifetime with a five-year pension holiday, according to a new study commissioned by Handelsbanken Wealth & Asset Management. The research underlines how work and pension expectations differ … [Read more...]
CMA reveals results of latest banking satisfaction survey
The Competition and Markets Authority (CMA) has published the results of its latest banking satisfaction survey for both personal and business banking. In Great Britain, digital and challenger banking brands topped the rankings for both personal and business current accounts. Overall, the … [Read more...]
ONS reveals July rise in inflation
The latest inflation data from the Office of National Statistics (ONS) has revealed the rate of price rises quickened in July for the first time this year. The ONS recorded that its headline measure of inflation, the Consumer Price Index, rose by 2.2% in the 12 months to the July 2024, up from … [Read more...]
Chancellor calls for UK pension funds to invest more in infrastructure
Chancellor of the Exchequer, Rachel Reeves, seeks to boost investment in UK infrastructure from British pension funds in a bid to support growth. Reeves has called on UK pension funds to learn from the successes of Canadian counterparts in investing in the UK, and has met with the 'Maple 8' group … [Read more...]
AI projects to boost productivity awarded £32 million
Government funding of £32 million has been awarded to companies developing artificial intelligence (AI) that can improve productivity and public services. A total of 98 projects involving more than 200 businesses and research organisations have been successful in securing funding spanning a … [Read more...]
New car market achieves two straight years of growth
New car sales in the UK have recorded 24 consecutive months of growth, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). July 2024 saw the new car market perform 2.5% better than the same month last year, with over 147,500 new cars registered and the … [Read more...]
Strikes Act 2023 to be repealed in upcoming Employment Rights Bill
Laws which came into force in 2023 to enforce minimum service levels during public service strikes are to be repealed in a new bill aimed at strengthening employment rights. The Government has announced it plans to reverse the previous administration's requirements for minimum service levels to … [Read more...]
Bank of England cuts interest rates for first time since March 2020
Economists at the Bank of England have voted in favour of cutting its base rate to 5%, the first cut in interest rates since March 2020. The Monetary Policy Committee voted 5-4 in favour of the 0.25 percentage point cut in interest rates. The decision follows interest rates having been held at … [Read more...]
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