The UK restaurant sector has boomed with turnover reaching £21 billion, a 39 per cent increase in five years.
Britain’s restaurants continued to cater to the public and saw business positively boom in the years since 2010, despite the economic downturn. Turnover in the dining out industry reached £21.6 billion in 2014, an increase of 39 per cent from the £15.5 billion recorded in 2010, according to data from Companies House analysed by finance company LDF.Read more >>
Foreign direct investment in Saudi Arabia’s stock market will soon become possible.
One of the world’s most restricted stock exchanges will soon open up to foreign investors, according to Saudi Arabia’s Capital Market Authority (CMA). The move will take place on June 15th and is already attracting “absolutely phenomenal” interest, according to an expert at HSBC bank.Read more >>
Unemployment rates in the UK have fallen to 5.5 per cent, their lowest levels since 2008.
The number of people without a job in the UK declined to a seven-year low, according to official figures from the Office for National Statistics (ONS). Furthermore, the data has highlighted that wages are also growing.Read more >>
UK Chancellor George Osborne is set to outline plans for “radical devolution” of powers to English cities.
In his first major speech after the General Election, UK chancellor George Osborne promised cities in England the chance to gain devolved powers. The one caveat is that these cities must agree to be governed by a directly elected mayor.Read more >>
Economic growth in France surged past expectations to its highest rate in two years.
Figures on Wednesday showed economic growth in France accelerated in the first three months of this year. In fact, it hit France’s joint-highest figure since 2011.
The French INSEE statistical office reported that the nation’s economy grew by 0.6 per cent in the first quarter of 2015, surpassing expectations for growth of 0.4 per cent.Read more >>
British businesses have already outlined what they hope new Business Secretary Sajid Javid will prioritise.
The UK welcomes the appointment of Sajid Javid by David Cameron as the new Secretary of State for Business, but he’d barely put a foot through the door before the business community begin setting out their priorities.Read more >>
The UK’s largest bank has set aside £8 billion in order to offer SMEs a helping hand.
Lending to small and medium-sized enterprises (SMEs) will be given a welcome boost as HSBC sets up a new £8 billion fund. The bank also plans to do away with some of the many fees on business loans that firms incur in order to support smaller companies that can ill afford them.Read more >>
China’s third interest rate reduction in six months hints at further slowing economy.
The People’s Bank of China (PBOC) has cut interest rates for the third time in six months to boost the nation’s slowing economy. However, while shares in China surged on the news to erase earlier losses, it’s likely that the rate cut indicates further economic slowdowns on the horizon.Read more >>
Britain’s General Election boosted financial markets after a Conservative majority win became clear.
The UK’s General Election race ended with a note of finality on Friday, as the previously too-close-to-call election developed into an emphatic victory for the Conservative party. Sterling soared and the FTSE-100 was lifted higher as investors cheered the news.Read more >>
On 21 April, Google implemented a major overhaul of its search algorithm, making it more compatible with mobile platforms in a move that online marketers and developers have called “mobilegeddon”.
The reasoning behind Google’s move is clear, as more and more customers use their mobile devices to browse the internet.Read more >>
Telecoms group BT reports rise in annual profits is driven by broadband and football.
The telecoms giant, BT Group, announced impressive growth in pre-tax profits on the year, which the group said is being driven by attracting new broadband customers. BT claimed it’s securing more new broadband customers than any of its rivals, which could be down to the group securing the rights to screen a number of sporting events.Read more >>
As Tesco continues to deal with its mega loss, Sainsbury’s posts its first annual loss for ten years.
Sainsbury’s, the UK’s third-largest supermarket chain, just announced its first full-year loss in a decade. It’s a sign that the competition between British supermarkets is increasing and the news has sent Sainsbury’s share price tumbling.Read more >>
In the aftermath of the record-revenue-breaking Mayweather vs Pacquiao boxing match, we explore what makes sport the money-making industry it is today.
Sport in the modern day is as much about business as it is athleticism. Many sports teams and sporting individuals have been moulded into internationally recognisable, money-spinning brands. Whole industries have developed around the sports that were once played for mere accolades.Read more >>
What can we say about the future relationship of business and society in the age of knowledge economy?
What is a business and does it have an obligation to society? This important question has sprung up once again, especially considering that 2015's General Election is just around the corner on May 7th.Read more >>
Statistics show that the number of new accountancy businesses is increasing at its fastest rate since the recession.
The accountancy profession is returning to a state last seen before the financial crisis, according to research from SJD Accountancy. The firm’s report showed the number of accountancy related startups increased at the fastest rate since 2008.Read more >>
With businesses increasingly turning to economists when it comes to decision making, we explore the ins and outs of economics and analytics.
“Ignore economists at your peril” are the words of a McKinsey report that highlights the growing importance of seeking advice from economists. The use of economics has widened from being a tool to determine governmental and political policies, to something highly relevant to businesses.Read more >>
We investigate the ways social media can be used to your advantage when it’s time to join the search for employment.
Over the last decade social media has risen to the highest heights. From old favourites such as Facebook and Twitter, to the newly developed Bubblews and Sharebloc, there are hundreds of social media platforms to choose from. With so many options, it’s getting difficult to decide which are worth investing time into.Read more >>
In an increasingly globalised marketplace, companies must adjust to operating internationally. How does this changing economic landscape affect SMEs?
New customers are the key to the expansion of any organisation. And by capitalising on readily available new technologies, social media integration, web conferencing and e-commerce, small and medium-sized enterprises (SMEs) have the chance to reach more people than was ever possible before this digital boom.Read more >>
As solar farms continue to multiply in number across the UK, we consider the impact this will have in the future.
The UK is becoming increasingly fond of solar power, with solar farms springing up in all four corners of the country. Preliminary figures show that, in 2014, the UK installed the most new solar power capacity out of all European countries, with current figures illustrating that the country is on track to retain its title this year.Read more >>
In the wake of Tesco’s mega loss, we wonder if it’s time for the death of the big supermarket.
Tesco’s pre-tax annual loss of £6.4 billion last year came as a surprise: analysts had only been estimating a loss of around £4 billion. It was the biggest loss in Tesco’s 96-year history, the sixth biggest corporate loss in the UK, and the largest annual loss ever witnessed by a British retailer.Read more >>
While the world studies the environmental impacts of climate change, what are the potential financial risks that businesses face?
Climate change “can no longer be denied”, according to US president Barack Obama. Data shows that increasing amounts of public money in the US is being spent on environmental protection.Read more >>
We explore the advantages of studying abroad and discuss whether the experience boosts your employment prospects.
Studying abroad is something which attracts and inspires thousands of young people every year. Go International’s ‘Gone International’ study found that, of 233,185 graduates in 2013, over ten thousand had spent time studying in a country outside of the UK.Read more >>
Areas local to Gatwick airport could benefit from the largest oil find in the last 30 years.
After a well was drilled in the vicinity of Gatwick airport last year, analysis has revealed that there may be up to 100 billion barrels of oil in the local area of Horse Hill, according to exploration firm UK Oil & Gas Investments (UKOG).Read more >>
The great Chinese engine of growth has slowed further, but what does it really mean?
China’s economic growth forecasts have been cut to just seven per cent for 2015, and first quarter growth for this year was shown to slow to seven per cent, which was a six-year low. But while China’s economic activity remains much higher than those of most other countries, the slowdown is still thought to be a cause for concern by many analysts.Read more >>
Could energy efficiency help businesses? We look into the impact sustainable design and green buildings could have on the UK economy.
Construction firm Balfour Beatty recently created the UK’s most environmentally friendly building for Girton College at the University of Cambridge. The new student halls receive half of their energy from renewable sources with a design that surpasses efficiency guidelines by 40%.Read more >>