Business News

Businesses from across the West Midlands can now submit entries for the prestigious West Midlands Finance Awards. Entering its sixth year, the West Midlands Finance Awards is the only accolade of its kind to recognise the work and achievements of the region’s top finance professionals and businesses.

Bigger than ever, the awards will feature a new category – Finance Transformation and Change – casting an eye to those at the cutting edge of the industry, approaching change with innovation, as well the hotly contested Rising Star of the Year award. The deadline for entries is Friday 9 June 2023, applicants will then be judged by a panel of the region’s industry leaders.

An insolvency practitioner of one of the UK’s leading accountancy firms predicts the number of company insolvencies in England and Wales will set new records during 2023. The warning comes as latest quarterly insolvency statistics for January to March 2023 (Q1) reveal there were 5,747 company insolvencies in England and Wales, 18% higher than in Q1 2022.

Demand for housing remains sky high, yet homebuilders seem to be slowing down construction. Based on a National Association of Home Builders (NAHB) survey of roughly 440 builders, most seem cautiously optimistic about this year’s new build market.

Labour shortages and rising material costs continue to plague the industry from the pandemic, but the construction backlog is steady.

Property seekers looking to reside in a stylish new home in Oxfordshire are being encouraged to look no further than Barratt and David Wilson Homes’ developments in Abingdon. Located under a mile away from each other, the developments offer residents the chance to reap the benefits of both town and country living, situated in an ideal town for those who enjoy having a mix of urban and rural surroundings.

As the cost of living crisis continues, employers must recognise the importance of supporting their employees during these challenging times.

From both a business and human perspective. Financial stress can significantly impact employee wellbeing, job satisfaction, and productivity.

The Gothenburg Port Authority will become a partner in Eolus’s Västvind offshore wind power project, outside Gothenburg. The farm will be able to generate renewable electricity corresponding to the current electricity consumption of all of Gothenburg.

The Port of Gothenburg is facing a green transformation that will entail a sharp increase in the port’s electricity needs already during the period up until 2030. The port’s forecasts for future electricity consumption show a multi-fold increase in the need for power.

Responding to the ONS (Office for National Statistics) public sector finances stats for March 2023, the Chancellor of the Exchequer, Jeremy Hunt said: “These numbers reflect the inevitable consequences of borrowing eye-watering sums to help families and businesses through a pandemic and Putin’s energy crisis.

This week is Administrative Professionals Week (April 24-29) and new research from Robert Half reveals top priorities for these professionals and how to best retain them – happy to connect you with a Robert Half workplace expert this week to discuss how businesses can better support and recognize their administrative professionals.

French luxury group, controlled by billionaire Bernard Arnault, LVMH Moët Hennessy Louis Vuitton, reported a 17% jump in sales in the first quarter of 2023 – more than double market expectations, which enabled it to become Europe’s first firm to exceed $500 billion in market value.

After LVMH reported a spike in revenue in Q1 2023, shares of the holding company of Louis Vuitton, Moët & Chandon, Hennessy, Givenchy, Christian Dior, Bulgari and Sephora surged on the news, climbing 0.3% to €903.70 ($996.19) and raising the market value of the Paris-listed luxury group to €454 billion ($500.5 billion).

Frank McKenna hosted a special event at the House of Commons, on Wednesday April 19, when he was joined by shadow Business Minister Bill Esterson MP to discuss the future of manufacturing in the UK.

April is National Stress Awareness Month in the UK and new homes provider Bromford is marking the occasion by sharing its top tips on dealing with the stress that can come with moving home. Catherine Jarrett, Director of Sales and Marketing at Bromford, said: “Buying a new home and making the move to a new community is very exciting and wonderful experience.

PortAventura World has reached a major corporate milestone by becoming a B Corp company, thanks to its positive impact on society and environmentally friendly practices. The company has successfully passed the strict impact measurement requirements to become a B Corp company, meeting high standards of compliance in environmental, social and good governance performance.

LTS LOHMANN Therapie-Systeme AG ("LTS"), a leading pharmaceutical technology company that develops and manufactures innovative drug delivery systems such as Transdermal Patches ("TTS"), Oral Thin Films ("OTF") and Micro Array Patches ("MAP") announces the signing of the acquisition of the Sorrel wearable injection device business ("Sorrel") with headquarters in Netanya, Israel, a part of the Eitan Medical Ltd ("Eitan Medical").

A recent survey carried out by company formation agent, 1st Formations revealed that 41% of Brits feel they’re underpaid for the work they do. Yet just 24% plan on asking for a pay rise in the next 12 months. 

The survey, conducted using the market research company YouGov, asked 2,104 UK adults about their attitudes towards their current pay, company’s leadership and performance at work. 

A major new study has revealed that millions of Brits are paying for phones they already own because they don’t fully understand their mobile bills.

More than 9 in 10 (93%) Brits are unaware they could be charged for mobile phones they’ve already paid for through their mobile contracts. Less than half of people (48%) are completely clear when their contract ends, yet without this information, millions of customers tied into classic contracts with EE, Three and Vodafone are at risk of overpaying for smartphones they already own.

The launch of its new state-of-the-art Biomedical Research Institute (BMRI) places Stellenbosch University (SU) at the forefront of biomedical sciences on the African continent.

The BMRI is a world-class biomedical research complex on par with the best in the world and is unparalleled, not only on the African continent, but the entire southern hemisphere, in terms of its cutting-edge facilities and extensive research capacity.