Business News

The Chancellor of the Exchequer responded to the ONS public sector finances stats for August 2022. 

The Chancellor, Kwasi Kwarteng, said: “Our priority is to grow the economy and improve living standards for everyone - with strong economic growth and sustainable public finances going hand in hand.

Energy bills for UK businesses will be cut by around half their predicted level this winter under a huge government support package. The scheme will fix wholesale gas and electricity prices for firms for six months from October 1, shielding businesses from crippling costs.

Hospitals, schools and charities will also get help, the government said. It comes after ministers announced a £150bn plan to help households with their soaring bills for two years.

XPO Logistics, Inc, a leading provider of freight transportation services, have announced that three of its business leaders have been selected by Supply & Demand Chain Executive magazine to receive the 2022 SDCE Women in Supply Chain Award: 

Lucy Scott, director at Birmingham-based bakery, Lil’s Parlour, said: “Despite endless pivots and strategy rethinks, our sales have been decreasing steadily for well over a year.

More than 120 of the world’s leading sheet metal pressworkers will be heading to Birmingham in October as part of a major global manufacturing event. The 20th ICOSPA (International Council of Sheet Metal Presswork Associations) Congress will return to the UK for the first time in 18 years, with the emphasis firmly on ‘New Tech, New Skills and New Challenges.’

Following the latest CPI figures, My Pension Expert's chair, Andrew Megson, stressed that there is no room for celebration even as inflation slows slightly... I hope you can use it:

He said: “Given all the predictions that inflation was going to climb to 15%, or higher, by early 2023, the slight easing in the rate will be welcomed by everyone.

Forty businesses and individuals have been shortlisted for the Solihull Chamber of Commerce’s annual awards, which will be handed out during a glittering ceremony next month. The winners of 10 sector awards will be revealed on the night, with one business going on to be crowned the overall Solihull Business of the Year.

A leading Cumbrian law firm is celebrating one of its client’s winning contracts worth more than £4million.

Collaboration and joint ventures are becoming ever more prevalent for SMEs looking to combine their skills and expertise to bid for major industry contracts across a range of sectors.

Sustainability and its role in the industry will play a major part in next month’s UK Construction Week Birmingham, with a special section dedicated to Net Zero, a rich programme of panels and speakers and a myriad of exhibitors showcasing products which focus on protecting the environment. Guest speakers on the Net Zero stage will include Frank Gordon, Director of Policy at the Renewable Energy Association; Cat Fletcher, CEO, Freegle; and Maya de Souza, Circular Economy Campaign Director, BITC (Business In The Community).

2 in 3 white collar workers over the age of 55 have been overlooked for a promotion in the last year – compared to over a third (37%) of professionals under the age of 30, who have received a promotion.

The findings – from an upcoming Diversity & Inclusion report from recruitment consultancy Robert Walters – highlights how in spite of a fiercely competitive hiring market, over 50s are being overlooked for opportunities in favour of much younger and less experienced workers.

A survey out today from Project Solar UK found that 36% of respondents living in and around Birmingham said they would take fewer showers and 26% would choose to take cold showers when asked what they would consider doing to lower energy costs. Fifteen per cent would install solar panels in their home and 4% would move house to a place with solar panels already installed in an effort to reduce outgoings on energy bills. 

Downtown in Business will be joined by the Chief Executive of the West Midlands Growth Company, Neil Rami, for an exclusive roundtable lunch on Thursday 20th October at The Botanist, in Birmingham.

Neil Rami is Chief Executive of the West Midlands Growth Company.

Birmingham’s bold strategy on tackling inequalities both across the city and within Birmingham City Council was presented to Cabinet.

An updated plan setting out council’s plans to address existing inequalities outlined key successes of the past year – and also recognised there were still much to do ensure its workforce reflects the city it serves.

Banks and energy company shareholders should help finance a sustained freeze on household energy prices to reduce the burden on taxpayers, according to a proposal from the analyst Michael Johnson, published by the Social Market Foundation today.

Johnson – a former investment banker who has advised several leading politicians on economic policy – suggests that both energy providers and the government should purchase collateral assets to back a funding facility to support providers that run into financial trouble.

Businesses in the West Midlands are being placed at the heart of skills provision in the region in what is being described as a “game-changing shift” to help solve the skills crisis.

Coventry and Warwickshire Chamber of Commerce, Greater Birmingham Chambers of Commerce and the Black Country Chamber of Commerce have been selected by the Department for Education to lead on the region’s Local Skills Improvement Plan (LSIP).

Three more applicants have successfully secured grants from the West Midlands Combined Authority (WMCA) to help better connect people in the region to nature.

Kingstanding Regeneration Trust, Feeding Coventry and Caldmore Community Garden in Walsall have each received funding under the WMCA’s Community Green Grants scheme to improve the access to nature in deprived communities by improving green spaces or enhancing the local environment.