Booming optimism about the global economy is driving UK CEO confidence for business this year, according to PwC January 22, 2018 UK chief executives are optimistic about global economic growth prospects and their bullish attitude is driving business confidence, according to new research. Though the final shape of Brexit is as-yet undecided, PwC’s annual survey of business chiefs reveals 96 per cent of UK bosses expect their revenue to increase over the next three years – [...]
Jaguar Land Rover to cut UK car production in the coming months amid Brexit fears January 22, 2018 Jaguar Land Rover is to slash production amid Brexit fears and a government crackdown on diesel cars. There will be a reduction in the number of cars rolling off the ramps at JLR’s Halewood plant situated close to Liverpool. JLR said today “temporary adjustments” to production schedules would commence in the second quarter of 2018. [...]
Sugar high from US President Trump’s tax cuts to help boost world economy says International Monetary Fund (IMF) January 22, 2018 The International Monetary Fund (IMF) has today unveiled a big upgrade to its global economic forecasts, driven by stronger recent growth and an impending sugar rush from US tax cuts. World GDP growth will hit 3.9 per cent this year and next, the highest since 2010 and a 0.2 per cent upgrade from forecasts only [...]
London house prices: Sadiq Khan under pressure as figures show construction has started on just 428 affordable homes January 22, 2018 London mayor Sadiq Khan’s affordable housing programme is under pressure after figures showed he has started building just 428 homes in the first six months of 2017-18. In the 2016 Autumn Statement, Khan secured £3.15bn in funding from central government to build 90,000 affordable homes. Read more: London Assembly warns on £2.2bn funding black hole [...]
Oil prices rise as Saudi Arabia sees Opec “cooperation” continuing beyond 2018 January 22, 2018 Saudi Arabia has said cooperation between the cartel and its partners that are working to curb production will continue beyond 2018. Saudi Arabia is the de facto leader of the Organisation of the Petroleum Exporting Countries (Opec), which in November agreed to extend oil production cuts with Russia and other non-Opec producers until the end [...]
Tesco announces it is cutting 800 UK jobs January 22, 2018 Tesco is cutting 800 jobs within the business in a bid to simplify its operations. The UK’s biggest supermarket is removing all people managers and compliance managers from its large stores and fulfilment centres, and is removing its customer experience managers. Read more: Tesco “outperforms market” with Christmas sales rise As a result of the [...]
Cartier owner Richemont makes an offer for Yoox Net-a-Porter January 22, 2018 Richemont has made an offer to take control of luxury online retailer Yoox Net-a-Porter. The Swiss luxury group owns a 49 per cent stake in Yoox Net-a-Porter and intends to increase its holding to 90 per cent, offering €38 a share, a 26 per cent premium on the Milan-listed stock’s closing price on Friday. Richemont, [...]
Ineos revs up for launch of Land Rover Defender successor with hire of former Bentley marketing director Mark Tennant January 22, 2018 Chemicals giant Ineos today announced it has hired the former marketing director of Bentley Motors to lead the marketing of its new 4×4, billed as the “spiritual successor” to the Land Rover Defender. Mark Tennant joins the firm as commercial director and will be tasked with leading Ineos Automotive’s sales, marketing and distribution options. Tennant [...]
UK house prices: Demand for UK property fell more than seven per cent last year January 22, 2018 The UK’s housing market continues to look shaky, after new figures showed the number of new buyers registering with estate agents dropped last year – as the number of properties on the market plunged. Figures from estate agent Haart showed demand for homes fell 7.4 per cent in the year to December, falling 3.4 per [...]
Facebook’s promising to help Europe learn digital skills and invest more in Paris artificial intelligence research centre January 22, 2018 Facebook is the latest US tech giant to jump on the digital skills bandwagon, promising to train one million people across Europe by 2020. And it’s also putting more cash behind its artificial intelligence efforts, investing €10m more in its Paris-based AI research lab. Read more: Facebook to expand probe into possible Russian influence on [...]