Category: Business Marketing

‘Long Covid’: the economy is also badly out of puff

Douglas FraserBusiness/economy editor, Scotland Related Topics Scottish Budget image copyrightReuters The forecast contraction in the Scottish economy of 10% is in line with the UK, but worse than most other countries. Paying the bills may continue to weigh on health budgets well beyond this year, say fiscal experts, and we can expect big tax increases by 2025. Scots support higher… Read more →

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Love turns to hate as LVMH sues ‘dismal’ Tiffany

Image copyright Reuters LVMH once said that Tiffany “stood for love” but it now describes the New York jeweller as a “mismanaged” company with “dismal” prospects. The Louis Vuitton-owner made the claims in a countersuit against Tiffany in a dispute over a $16.2bn takeover deal. LVMH claims Tiffany is no longer the business it agreed to buy last November before… Read more →

Crescent Link retail park expansion ‘would create 110 jobs’

image copyrightGoogle image captionCrescent Link is one of the biggest retail developments in the north-west The owners of Crescent Link retail park in Londonderry have announced expansion plans that would create more than 100 jobs. Manchester-based David Samuel Properties said the £5m expansion would see upgrades to the existing Homebase and M&S stores. It will also see the Food Warehouse… Read more →

Greggs hints at job cuts as furlough scheme ends

Image copyright Getty Images Bakery chain Greggs has hinted at possible job cuts as the government’s furlough scheme ends. The company, which employs 25,000 workers, expects business activity to “remain below normal for the foreseeable future”. It said it had reviewed staff costs and was currently consulting with unions and employee representatives. Greggs said it wanted to reduce the risk… Read more →

Covid: Public spending rise could last longer

Image copyright Getty Images The government must choose this autumn between more austerity and permanently higher spending, experts warn. Although the Autumn Budget has been cancelled, the Treasury is still set to publish a Spending Review containing government expenditure plans. Because of Covid-19, public spending is likely to rise to the highest share of national income in more than a… Read more →

Bank deputy governor warns against negative interest rates

Image copyright Getty Images A Bank of England (BoE) deputy governor has spoken out against setting negative interest rates, which would bring the cost of borrowing below zero. “At present, negative policy rates would be less effective as a tool to stimulate the economy,” Sir Dave Ramsden told the Society of Professional Economists (SPE). The Bank has so far responded… Read more →

Island economy “scarred” by Covid-19 restrictions

Related Topics Coronavirus pandemic image copyrightGetty Images image captionSocial distancing has limited capacity to about 20% on some ferry services to and from Arran The loss of visitors and reduced ferry capacity to Arran during the Covid pandemic could have “long-term scarring effects” on the island’s labour market. A new study has highlighted a third of Arran’s economy is reliant… Read more →

Brexit lorry park request for Anglesey county showground rejected

Image copyright Getty Images A request to allow Anglesey’s county showground to be used to host a post-Brexit lorry facility has been rejected by council leaders on the island. Land is needed for a potential customs check on HGVs arriving from the Republic of Ireland in Holyhead. But the council’s executive rejected the bid by the Anglesey Agricultural Society to… Read more →