Today's West Midlands business news from Insider |
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West Midlands
Thursday 6 August 2020

Latest News

Top Story

Turnover falls as losses widen at seat making giant

Turnover fell and pre-tax losses widened during the latest financial year of a company that was founded in the aftermath of World War II and is now part of a manufacturing giant that makes one in three automotive car seats in the world.
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Insider Feature
Feature 1

Business Matters: How to get investment in turbulent times?

Ray Harris, MEIF principal at Foresight Group LLP, offers a helpful guide for management teams of SMEs looking for equity investment post pandemic.
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Deals

Social housing tech firm acquired

A Worcester-based specialist technology provider for the social housing sector in the UK and Ireland has been bought.
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Regulator identifies concerns in retail investment software merger

The Competition and Markets Authority has provisionally blocked the merger of FNZ and GBST following an in-depth investigation. The retail invesment software specialists both have a significant presence in the UK.
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Hastings offer values group at £1.66bn

A global consortium has agreed the terms of a recommended cash offer for Hastings, which values the general insurance provider at £1.66bn.
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Covid-19 lending schemes support 1.2 million businesses

Just under 1.2 million businesses in the UK have been supported by finance from lenders through government-backed Covid-19 lending schemes, according to new figures from HM Treasury.
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Insider Feature
Feature 2

Roundtable: Car-Free Birmingham

A plan to dramatically cut the number of cars in Birmingham city centre will have a major impact on property and infrastructure development.
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Business

Revenue passes £50m at Bevan Britton as profits rise

Revenue passed the £50m mark at law firm Bevan Britton, which has a Birmingham office, during its latest financial year, with profits also rising.
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Pre-tax profits jump as logistics giant braced for Covid-19 hit

Pre-tax profits jumped at the UK arm of an international logistics giant, which works with the likes of watch maker Seiko, Mitsubishi and AstraZeneca, during its latest financial year. The company also revealed it is braced for a fall in revenue because of the Covid-19 pandemic.
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“Recovery will be U-shaped” – KPMG chief economist

The economic recovery will be "in train from 2021", according to KPMG's chief economist in the UK Yael Selfin. Providing her outlook for the coming months, Selfin joined Insider's Future of Funding Online Forum on Tuesday 4 August.
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Job cuts planned by group behind accountancy firms

The group behind accountancy firms such as Baldwins and Campbell Dallas has revealed plans to make redundancies.
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Joules falls to pre-tax loss as revenue dips

Listed lifestyle brand Joules fell made a pre-tax loss of more than £25m during its latest financial year while its revenue dipped below the £200m mark, new figures have shown.
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New car sales rise for the first time in 2020

The registrations of new cars in the UK rose for the first time this year in July, according to new figures.
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Up to 1,500 jobs at risk in WHSmith restructure

Up to 1,500 jobs could be cut by WHSmith as a result of the Covid-19 pandemic, the retailer has announced.
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Property

Green light tipped for Digbeth apartments scheme

Almost 30 apartments could be created in a new six-storey building if plans for a site in Birmingham's Digbeth area are approved next week.
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Planning system reforms outlined

Reforms designed to overhaul the planning system and revamp the way the country builds have been outlined by the housing secretary.
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Historic buildings earmarked for flats

Prior approval is being sought to convert historic buildings in Birmingham into more than 30 apartments.
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Hammerson raises cash to overcome Covid-19

Shopping centre giant Hammerson has proposed a right issue in a move that could raise more than £550m. It has also sold its 50 per cent interests at a property investment firm.
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Manufacturing

New CEO takes over at Aston Martin

The new chief executive of luxury car maker Aston Martin has taken over.
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Anti-motion sickness software developed by JLR

Jaguar Land Rover is researching software that will aim to reduce motion sickness by adapting the driving style of future autonomous vehicles.
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Pandemic forces losses to £50m at brick maker

Brick making giant Ibstock made a pre-tax loss of more than £50m while its revenue was slashed during the first half of its financial year because of the Covid-19 pandemic.
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Other News

Midlands Top 500 Companies Database - contact the region’s top decision makers

Member Exclusive News

Listed banking group announces director retirement

Solihull-headquartered Paragon Banking Group has announced the retirement of a board member.
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