Economists at the Bank of England have voted in favour of cutting its base rate to 5%, the first cut in interest rates since March 2020. The Monetary Policy Committee voted 5-4 in favour of the 0.25 percentage point cut in interest rates. The decision follows interest rates having been held at … [Read more...]
News for: General Business
North West profit warnings down of previous year’s figures
UK-listed companies in the North West have issued 21% fewer profit warnings in the first six months of 2024 than in the same period last year, according to EY-Parthenon’s latest Profit Warnings report. A total of 11 warnings were issued by businesses in the region in the six months to … [Read more...]
Cheshire East Council elects new leader
Cheshire East Council has elected Cllr Nick Mannion as the new leader of the Council following a full council meeting on 17th July. Cllr Mannion (pictured), who has previously chaired the Council's economy and growth and finance committees, succeeds Cllr Sam Corcoran, who stepped down the role he … [Read more...]
Bank of England continues to hold interest rates at 5.25%
Leading economists on the Monetary Policy Committee (MPC) of the Bank of England have once again chosen to hold interest rates at their current 16-year high of 5.25%. Committee members voted 7-2 in favour of keeping rates at 5.25% for at least a further six weeks; the two members voting against … [Read more...]
Canadian acquisition for Wilmslow’s Citation
Wilmslow-based compliance specialist, The Citation Group, has announced the acquisition of Canadian HR software firm, Agendrix. The deal is the group's third acquisition of the year, further bolstering Citation's international operations. The move brings Agendrix's online rota and staff … [Read more...]
Inflation drops to 2% target level in May
The headline rate of inflation slowed to 2% in May, according to latest Consumer Price Index data (CPI) from the Office of National Statistics (ONS). Inflation fell 0.3 percentage points from April's figure of 2.3%, bringing the rate of inflation back down to the Bank of England's target rate and … [Read more...]
UK economy grew 0.7% in three months to April 2024
The UK economy grew 0.7% in the three months to April 2024, according to the latest GDP data from the Office of National Statistics (ONS). The services sector, the largest part of the UK economy, saw the fastest growth, with output up 0.9% over the quarter. The best performing subsectors included … [Read more...]
Inflation fell in April to 2.3%
Inflation has fallen in April to 2.3%, its lowest rate in nearly three years and close to the Bank of England’s 2% target, latest data from the Office of National Statistics (ONS) has shown. The ONS Consumer Price Index (CPI) has revealed its headline measure of inflation has fallen to 2.3% in … [Read more...]
NPIF II attracts interest from over 490 North West businesses
Expressions of interest have come in from over 490 businesses across the North West keen to access funding from the Northern Powerhouse Investment Fund II (NPIF II) according to fund managers. Across the North of England as a whole, the £660 million fund which launched earlier this year, over … [Read more...]
Online training course launches to support small business leaders with management skills
A new online training course as part of the government backed Help to Grow scheme has launched to support small business leaders to develop their management skills. Help to Grow: Management Essentials offers practical tips and resources based on the content of the more in-depth 12-week Help to … [Read more...]
Inflation falls to two-and-a-half year low
The annual rate of inflation fell to 3.2% in March 2024, according to the latest Consumer Price Index (CPI) figures from the Office of National Statistics (ONS), its lowest level in two and a half years. The latest fall represents a 0.2 percentage-point drop on February's figures, with March's … [Read more...]
New report reveals economic potential of Manchester Airport
A new report has revealed the full economic potential of Manchester Airport in driving growth across the North should future governments put the right conditions in place. Produced by Arup and published in March, it states that between now and 2050, the Northern gateway could secure direct … [Read more...]