Business News

Britain has an opportunity to expand green manufacturing, secure its supply chains, and develop cheaper safer energy sources if it learns from other countries’ responses to the US’ Inflation Reduction Act (IRA), a think-tank says today.

The Social Market Foundation – a cross-party think-tank – has said that fears that the IRA hurts British firms by locking them out of the American market are overblown. Instead, the SMF argues that the IRA should inspire the UK government to support its own businesses and put the country’s transition to net zero on a secure path.

An expanding IT firm has appointed a new Head of Operations to lead its further growth. Michael Quinn, who has 30 years of experience in the IT sector, has joined Integrity IT Solutions, part of Eco Group.

Integrity, which has offices in Dumfries and Galloway and Cumbria, serves clients across Scotland and the north of England. Michael (pic), who ran his own successful IT business, is already starting to grow the company’s business across Glasgow and the rest of the Central Belt and is targeting further growth in other parts of the UK.

The upcoming Downtown in Business ‘Business of Sport’ conference will be offering an opportunity for delegates to hear about some great sporting performances and achievements, learn about the attitude and dedication required from elite sportswomen and men, and get great insight into the mindset of a winner. However, they will also be exploring the commercial elements of sport – and in no other game is the word ‘business’ more relevant than in modern football.

Webb Fontaine, a global leader in trade technology solutions, has partnered with Kenya National Electronic Single Window System Operator, State Agency, known as Kenya Trade Network Agency (KenTrade), to revolutionise the Kenyan logistics landscape with the Digital Logistics Market Place (DLMP). This innovative, first-of-its-kind platform is poised to reshape logistics practices, igniting trade volumes, catalysing e-commerce growth, and serving as a catalyst for further development of this immense trade marketplace. 

A state-of-the-art industry centre is designed to be the catalyst for a cluster which leads the way in UK operational technology cyber security. A new Operational Technology Engineering Centre is being created by Sellafield Ltd on the site of the iSH Enterprise Campus in Cumbria to support Sellafield’s mission to create a clean and safe environment for future generations.

Dave Jones, who leads a team of 200 staff at Sellafield, is heading up the project to develop Unit 18 which will also open up far-reaching opportunities for the wider community.

In light of the release of the latest inflation rate data, which has dropped to 6.8% in the year to July, personal finance experts reacting to the news with the comments:

Lily Megson, Policy Director at My Pension Expert said: “Inflation falling and wages rising will bring relief to Britons. But it might only be temporary. Indeed, inflation's persistent grip on people's finances is not set to loosen any time soon. Hardly a settling prospect for those in, or approaching, retirement.

On the morning of Tuesday, 24th October, 2023, DIP (Downtown in Business) – sponsored by Burntwood (the commercial property specialists led by the purpose of creating thriving cities) - is set to present a breakfast event with the Mayor of West Midlands Combined Authority, Andy Street at Bruntwood SciTech’s iCentrum.

Emily Stubbs, senior policy and projects manager at Greater Birmingham Chambers of Commerce (GBCC), said: “Headline indicators suggest that since the start of the year, the labour market in the West Midlands, much like the national labour market, has seen a significant number of previously economically inactive individuals beginning to look for work. 

“Unfortunately, while the regional employment rate has increased slightly, the unemployment rate in the West Midlands has risen further, and remains the highest of any region in the UK.  

As the Official Global Airline Partner of Formula 1, Qatar Airways is delighted to announce its title sponsorship of the highly anticipated Formula 1® Qatar Airways Qatar Grand Prix 2023 which will be held from 6-8 October at Lusail International Circuit. To rev up the excitement and reflect its commitment to motorsport enthusiasts worldwide, the airline is thrilled to unveil its new Formula 1® livery painted on a specially branded Boeing 777 aircraft.

A leading accountant has labelled HMRC as ‘dead in the water’ - after receiving a response to an enquiry submitted in 2020 more than three years later.

JF Hornby & Co requested a simple administrative change be made to one of their client's accounts on January 13, 2020. Almost three-and-a-half years later - on June 20, 2023 - HMRC finally got around to responding, saying they could not complete the request.

Barratt and David Wilson Homes is inviting house hunters to five of its upcoming events in Nottinghamshire this month (August). The events are free to the public and, with no appointment required, homebuyers can receive a tour of the properties available and find out more about how they can save money and hassle when securing a new home.

Opening season at The Halls Wolverhampton is estimated to have boosted the local economy by almost £1.6million – and supported over 250 people into employment.

The new look Halls burst back into life in May as Britpop legends Blur marked the official reopening of the iconic venue with a sell-out show. Opening season saw 25 shows staged between 26 May and 13 July, attracting more than 50,000 visitors to Wolverhampton, with 20% of sales coming from WV postcodes, 60% from the wider region and 20% from other UK and international visitors.

In 2021, FDI flows to Africa reached a record-breaking $83 billion – more than double the previous year.

Despite challenges such as poor infrastructure, limited transparency and complex legal frameworks, multinational companies recognise Africa as fertile ground for business growth. Although administrative barriers and legislative complexities may result in excessive costs, it is important to appropriately address these factors.

RateGain Travel Technologies Limited (NSE: RATEGAIN), a global provider of AI-powered SaaS solutions for the hospitality and travel industry, today announced its financial results for Q1 FY24 ending on June 30, 2023, reporting robust revenue growth and improving profitability as the companies continue to build on a record year last year.

RateGain continues to witness strong revenue growth 79.8% YoY to INR 2,144.8 Mn and substantial improvement in operating margins to 17.6% for Q1FY24, up from 10.0% in the same period last year: on the back of operating leverage playing out with improved operating metrics driving performance across different verticals.

With 14 or more mega projects in the making in Saudi Arabia based on its Vision 2030, competing Dubai Public Relations is hard at work to tell the world the city’s economic result for the first 1/2 year of 2023.

Emirates and other international airlines flying to Dubai brought in 8.5 million international tourists to the city, making DXB the busiest airport for international flights. The consolidated update released provides key updates on how this city of 3.6 million people is doing and the progress made in delivering against the goals laid out in the Emirate’s D33 Economic Agenda. 

Following the urgent review into the matter of de-banking in the UK, speaking to broadcasters, Chancellor of the Exchequer, Jeremy Hunt, said: “Free speech is a fundamental human right.

“You can agree or disagree with Nigel Farage, but everyone must be able to express their opinions. In today’s society, you need a bank account function and so a threat to be de-banked is a threat to your right to express your opinions.