Alderley Park based biotechnology company, Redx Pharma, plans to raise £30 million with a share placing. The business is proposing a placing to institutional investors of new ordinary shares at a price of 59 pence per placing share. The placing shares are being offered through an accelerated … [Read more...]
News for: Finance
Car finance marketplace becomes B Corp Certified
Macclesfield and Manchester based car finance marketplace, Zuto, has announced it has become a certified B Corp, recognising the business' efforts to be a 'force for good.' Zuto joins over 4,000 Certified B Corporations around the world, including sustainable clothing label, Patagonia, and … [Read more...]
Bank of England raises interest rates to highest level since 2009
The Bank of England has announced a further increase in its base interest rates and issued a stark warning on the UK economy in the near-future. Interest rates have increased by a further 0.25 percentage points to 1%, the highest level since 2009 at the height of the global financial crisis. The … [Read more...]
New authority announced to protect government money from fraud
The creation of a new 'fraud squad' is to be announced later today (27th April), tasked with protecting government funds from fraud and recovering money lost through misuse of Covid-19 support schemes. The Public Sector Fraud Authority is expected to launch in July, recruiting data analytics … [Read more...]
Handforth financial planners raise £21,000 with charity cycle across Portugal
Three colleagues for Handforth based Equilibrium Financial Planning have completed a 456-mile charity cycle challenge across Portugal. Financial planners Andrew Hirst, Jason Lowe and Dave McKendrick spent six days cycling from Chaves in the country’s north to Faro in the south, reaching … [Read more...]
Rising fuel costs saw inflation reach 7% in March
The latest Consumer Price Index (CPI) data released by the Office of National Statistics (ONS) saw inflation reach 7% in March, driven by rising transport and energy costs. The latest ONS figures reveal inflation to be at its highest recorded level since the measure was included in the National … [Read more...]
UK Shared Prosperity Fund announced to match previous EU schemes
The government has announced the launch of a new UK Shared Prosperity Fund that will match previous EU funding schemes in all Local Enterprise Partnership (LEP) areas across the UK. The scheme is set to deliver £2.6 billion between 2022 and 2025, delivering £1.5 billion in 2024/25 and matching … [Read more...]
Increased Employment Allowance comes into effect
A £1,000 increase in the Employment Allowance, the amount smaller firms can claim to reduce National Insurance Contributions (NICs), has come into effect from 6th April. The Employment Allowance has risen from £4,000 to £5,000, as announced in the Chancellor’s Spring Statement. The increase is … [Read more...]
6000 jobs created thanks to five years of NPIF investment
The Northern Powerhouse Investment Fund (NPIF) has supported the creation of over 6000 new, high-quality jobs across Northern England, new research by SQW has found. Backed by the European Regional Development Fund (ERDF) and managed by the British Business Bank, the fund launched in 2017 with … [Read more...]
Making Tax Digital for VAT becomes mandatory in less than one week
HMRC is warning VAT-registered businesses that Making Tax Digital (MTD) for VAT becomes mandatory from 1st April. Businesses have less than one week left to ensure they are using compatible software to submit VAT returns, when online submissions become mandatory. Making Tax Digital is part of the … [Read more...]
Fuel duty cuts and changes to NI threshold among Rishi Sunak’s Spring Statement announcements
Chancellor Rishi Sunak has announced a cut to fuel duty and an increase in the NI payment threshold among measures to ease the impact of the rising cost of living in his Spring Statement, delivered to Parliament on Wednesday 23rd March. Addressing colleagues in the House of Commons, Mr Sunak … [Read more...]
North-west leaders react to 2022 Spring Statement
Business and political leaders across the North-west have largely welcomed measures announced in the 2022 Spring Statement, but also called on the Chancellor to do more to address the rising cost of living. On Wednesday March 23rd, Rishi Sunak announced changes to National Insurance thresholds, … [Read more...]