MG Motors has said it is in a “very strong position to take advantage” of the shift to electric cars as it posted UK sales worth more than £1bn for 2022.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
UK house prices rise at slowest post-summer rate since 2008 crash
UK house prices are rising at the slowest rate for this time of year since the 2008 financial crash, according to new data that highlights the impact on the housing market of higher interest rates.
UK investigates using frozen Russian assets to fund Ukraine defence
The government has asked the Bank of England to look at options for using Russian sovereign assets to fund Ukraine’s war effort, Chancellor Jeremy Hunt has told media.
UK economy ‘on course to avoid a recession’, says EY Item Club
The UK is on course to avoid a recession this year as wage growth outpaces price inflation and interest rates are expected to have already peaked.
Insolvencies will continue to rise for ‘foreseeable future’ under burden of high interest rates
Insolvencies climbed 17 per cent on last year in September as companies struggled under the burden of the Bank of England’s interest rate hikes.
Microsoft’s $69bn deal to buy Activision Blizzard given CMA clearance
The UK competition regulator has finally approved Microsoft’s $69 billion deal to buy the gaming giant Activision Blizzard 21 months after it was first agreed.
Jeremy Hunt rules out tax cuts and warns things are going to get worse
Tens of billions of pounds of higher debt interest payments and a slowing economy mean that the UK’s fiscal picture is far worse than it was in the spring, the chancellor has warned before his autumn statement.
Oxfordshire breakthrough provides hope, in the global fight against Malaria
Oxfordshire has once again proven itself a world leader in medical advances, following the World Health Organisation’s (WHO) recent recommendation of a new, highly effective, Malaria vaccine.
James Dyson paid £1.2bn dividend in 2022 by technology group
The technology group Dyson has paid a £1.2bn dividend to the Singapore-based family holding company of its founder.
UK economy grows 0.2% in August despite pull from higher interest rates
The UK economy returned to growth in August after the wet weather in July delivered a blow to output, prompting economists to roll back the chances of a recession, official figures revealed this morning.
Lenders fear surge in mortgage defaults by end of the year
Default rates for mortgages and credit cards by households are expected to rise by the end of the year, according to a Bank of England survey of lenders.
Former Barclays boss Jes Staley fined £1.8m over Jeffrey Epstein scandal
The Financial Conduct Authority (FCA) has fined former Barclays boss James Staley, £1.8m and banned him from holding top jobs in the finance industry after finding he misled them over his relationship with convicted sex offender Jeffrey Epstein.
Bernie Ecclestone pleads guilty to fraud charge after failing to declare over £400M of overseas assets
Bernie Ecclestone, the former boss of Formula One, has admitted fraud after failing to declare more than £400m held in a trust in Singapore.
London cements top 10 global position as tech investment hub, trumping European rivals
London has climbed into the top 10 for venture capital investment globally, charging ahead of European rivals as it cements itself as a technology investment hub among US and Chinese competitors, according to a new report.
Selfridges losses narrow amid further calls for return to VAT-free shopping
The return of tourists helped narrow losses at luxury department store Selfridges, as the firm posted a 29 per cent rise in revenues to £843m in the year to January.
