November 18, 20240 Comments

German manufacturers warn of the sector’s ‘formidable crash’

Beckhoff Automation German business owner Hans Beckhoff says the country’s manufacturers are struggling In the 44 years since Beckhoff Automation opened for business, owner Hans Beckhoff says he hasn’t seen an economic crisis like this one. “You can usually expect a crisis about once every five to eight years,” says Mr Beckhoff. “This time it’s a formidable crash, a really deep one.” A German company, Beckhoff Automation makes automated control

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November 13, 20240 Comments

JD Sports and Fullers warn Budget will push up prices

Prices in shops and pubs will rise as a result of tax rises on businesses announced in the Budget, two bosses have warned. Andy Higginson, chair of JD Sports and the British Retail Consortium, which represents supermarkets, said tax increases from April, including a rise in National Insurance, would lead to a jump in costs for shoppers. Higher drinks prices could show in as little as six months, added Simon

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November 10, 20240 Comments

Hospitality workers’ jobs threatened by Budget, bosses warn

Getty Images Last month’s Budget raised the amount employers will pay in National Insurance Contributions Top pub and restaurant bosses have warned the chancellor that tax rises in last month’s Budget will “unquestionably” cause closures and job losses. In a letter, more than 200 signatories have said the hospitality industry is disproportionately impacted by an “unsustainable” hike in the amount employers pay in National Insurance contributions (NICs). It adds that

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November 9, 20240 Comments

Sainsbury’s and M&S warn Budget changes may push up prices

Shoppers could face higher prices as a growing number of big British firms warn about the cost of the National Insurance (NI) tax rises on employers announced in last week’s Budget. Sainsbury’s, Marks & Spencer and BT have all hinted at price rises, while pub chain Wetherspoons said “all hospitality business” will increase prices as a result of the tax changes. Meanwhile, Primark’s owner said on Tuesday it may invest

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