UK avoids recession but annual growth slowest in almost a decade November 11, 2019 The UK economy avoided falling into recession in the third quarter of the year, official figures have shown today, but annual growth slipped to its slowest pace in nine years. A pick up in the giant services sector and a return to growth in construction boosted the economy, but the malaise in manufacturing continued with [...]
Northern Ireland ‘is an afterthought’ for Brexit-driven voters November 11, 2019 Four in 10 Brits care “little or not at all” about Northern Ireland, a poll from Yougov has found. The pollsters showed both leavers and remainers prioritise Brexit over keeping Northern Ireland in the union. Almost two thirds of Britons would see Northern Ireland leave the United Kingdom in order for their preferred Brexit outcome [...]
Sirius Minerals seeks $600m in investment for flagship project November 11, 2019 Sirius Minerals have released revised plans for financing its North Yorkshire potash mine, the largest project of its type in the world. After placing the project under review in September, the London-listed group said that it was seeking $600m (£468.9m) in funding from investors for the project. Read more: Sirius boss buys shares after project [...]
Aston Martin shares climb as HSBC says investors should buy its stock November 11, 2019 Aston Martin’s share price climbed today after HSBC advised investors to buy the troubled luxury car maker’s stock despite its latest loss. The manufacturers of James Bond’s favourite ride swung to a £13.5m loss in its latest quarter as Brexit fears dampened demand in the UK and EMEA. Read more: Aston Martin is hoping next [...]
On a roll: Greggs upgrades profit forecast again as sales increase November 11, 2019 Greggs has upgraded its profit expectations for the year after the bakery chain reported boosted sales for its latest period. Total sales were up 12.4 per cent in the six weeks to 9 November while like-for-like sales in company-managed shops increased 8.3 per cent. Read more: Greggs is cooking up vegan versions of popular products [...]
British Steel to be saved in £70m Jingye Group rescue deal November 11, 2019 British Steel is poised to announce a £70m rescue deal with Chinese giant Jingye Group today in a move that could save 4,000 UK jobs. Jingye Group has agreed in principle to a £70m sum to buy British Steel, it is reported, which has been in liquidation since May. Read more: Chinese steel maker Jingye in [...]
Introducing the new lord mayor of London November 11, 2019 As the 692nd lord mayor of the City of London, it is an enormous privilege to represent the greatest city in the world. I was delighted to start my term with a spectacular cultural event on Saturday at the Lord Mayor’s Show, which brought together different communities from across the capital and beyond. This showcased [...]
UK business confidence slumps to seven-year low November 11, 2019 Confidence among UK businesses tumbled to its lowest level in over seven years last month, according to a new report, as yet more political uncertainty cast gloom over the economy. Read more: Bank of England: Brexit deal and trade wars will hold back UK growth Businesses in Britain’s manufacturing sector were the most pessimistic. Manufacturers [...]
Employers positive about hiring with parties set for spending splurge November 11, 2019 Employers were optimistic that staff numbers will increase in the last three months of the year when polled in September, a survey has shown, as the promised “end to austerity” boosted expectations about job numbers in the public sector. Read more: General Election: Sajid Javid promises to rip up restrictive spending rules Yet despite the [...]
Salaries for UK financial services workers jump amid competition for talent November 11, 2019 The average salary for UK financial services workers jumped to £53,000 in the second quarter amid competition for talent. Data released today by recruitment software provider Broadbean showed the average salary for financial workers in the first quarter rose to £48,500 before climbing to £53,000 in the second quarter. The increase in salaries comes despite [...]