Image copyright Getty Images Image caption There are many businesses, particularly small businesses, which are still slipping through the cracks Changes to the government’s furlough scheme could be “incredibly difficult” for some NI firms, the economy minister has warned. Chancellor Rishi Sunak has set out details of how employers will be asked to help pay the wages of workers on… Read more →
Image caption It is hoped that the centre will make Scotland a world leader in advanced manufacturing The Scottish government has announced an additional £20m of funding for Scotland’s first national manufacturing centre of excellence. The National Manufacturing Institute Scotland (NMIS) aims to make Scotland a world leader in advanced manufacturing. It will include a skills academy and industry-led research… Read more →
Image copyright Getty Images Image caption Flower market in London: The self-employed have faced a sudden drop in income Employees kept on by struggling businesses during the coronavirus outbreak are having their wages subsidised by the government, but ministers were criticised for not going so far for the self-employed. Chancellor Rishi Sunak has announced measures to support them too, but… Read more →
Image copyright Getty Images A survey suggests there are signs companies that shut down completely in April are starting to reopen. The Bank of Scotland’s business barometer survey found a fifth of firms were not operating, down from 32%. Meanwhile Scottish firms operating at less than 50% capacity had increased 18 points to 43%. Three-quarters of businesses reported disruption to… Read more →
Image caption Heating oil suppliers said the cheap fuel was a “positive news in difficult times” The dramatic fall in oil prices may be bad news for the industry – but is providing a brief windfall for households fuelled by heating oil. The UK’s oil and gas industry is warning 30,000 jobs could be lost as a result of the… Read more →
Image copyright Chris Zollner Image caption Christian Zollner has been trying to find new uses for LEDs “The tech we are working on could transform water sanitisation techniques and offer access to clean drinking water to even remote developing regions via portable systems,” says Christian Zollner from the University of California in Santa Barbara. Mr Zollner has been working on… Read more →
Image copyright Getty Images More than 21 million people in the US – roughly one in six workers – are now receiving unemployment benefits amid the economic havoc triggered by the pandemic. The dramatic numbers, a sign of the steep job losses triggered by the virus lockdown, are not unique to the US. But they are prompting fierce debate in… Read more →
Image copyright Reuters Image caption Harrods closed the doors of its Knightsbridge store in March Harrods, the upmarket department store, is opening a second outlet in a nearby shopping mall to stop congestion when trading resumes. The new Shepherd’s Bush ‘concept’ store will effectively host Harrods’ summer sale across two floors of the Westfield shopping centre from July. “Harrods Outlet… Read more →
Image copyright PA Media Foreign investment in Scotland remained positive last year but is showing signs of stalling with the current health crisis, according to a report. EY’s annual survey of “attractiveness” of different parts of the UK in securing inward investment has placed Scotland in lead place behind London for the seventh year in a row. The number of… Read more →
Image copyright Getty Images Nissan is closing its factory in Barcelona with the loss of about 2,800 jobs, according to the Spanish government. The move is part of a worldwide restructuring being unveiled by the Japanese carmaker. The closure could cost Nissan, which has a major UK plant in Sunderland, up to €1bn (£898m), the government said. Car sales have… Read more →