Business News – 9th May 2017

French election

Emmanuel Macron was congratulated around the world yesterday on Sunday’s election victory, as allies and some former rivals signalled their willingness to work closely with him. “He carries the hopes of millions of French people, and of many people in Germany and the whole of Europe,” German Chancellor Angela Merkel told a news conference in Berlin. “He ran a courageous pro-European campaign, stands for openness to the world and is committed decisively to a social market economy,” she added, congratulating Macron on his “spectacular” election success.

KPMG launches finance option for SMEs

KPMG has launched a new financing option for SMEs looking to raise debt finance up to £10m. “For any SME looking to raise debt, now is a great time to be in the market. Lenders have funds to put to work, pricing is attractive and the range and variety of funding options available to SMEs continues to increase,” said Steve Elsigood, head of KPMG’s Enterprise Financing.

Growth Business   The Scotsman, Page: 39   Yorkshire Post, Business, Page: 1

Digital entrepreneurs boost Coutts

Coutts CEO Peter Flavel has told the Yorkshire Post that the private bank is seeing entrepreneurs now make up 80% of new clients, with many of them coming from technology sectors such as fintech. Robin Wright, a director and wealth manager in Coutts’ Leeds office, points out that more than 25% of the bank’s UK business is now outside London while an increasing number of partners from law firms and accounting firms are also being moved up North.

Yorkshire Post, Business, Page: 3

Easter bounce for retailers

The latest British Retail Consortium/KPMG sales monitor shows sales jumped 5.6% in April compared with the previous year, with retailers cheered by a late Easter. However, the BRC’s Helen Dickinson said the longer-term outlook isn’t so rosy with rising costs and slowing wage growth forming the backdrop to future consumer spending. Meanwhile, data from Barclaycard shows shoppers are cutting back on shopping to spend money on experiences instead, with pubs, restaurants and theatres all benefitting. Barclaycard MD Paul Lockstone describes the change as a “societal shift”. Deloitte’s Simon Oaten adds that consumers are now viewing much of their spending on experiences as part of everyday living.

The Times, Page: 40   The Guardian, Page: 18   Daily Express, Page: 55   The Times, Page: 10   Yorkshire Post, Page: 8

UK employers struggling to recruit workers

The Recruitment and Employment Confederation (REC) has warned that Britain is facing a shortage of workers in a range of areas, from engineering and accounting to hospitality and caring, due to a fall in unemployment and fewer EU migrants applying for jobs in the UK. The Markit/REC Report on Jobs said candidate availability is at a 16-month low and competition for new workers is driving salaries up. REC CEO Kevin Green commented: “If British business is to thrive, then whichever party forms a government after June 8 needs to address the ever-shrinking pool of suitable candidates by investing in skills and career advice for UK jobseekers, as well as safeguarding access to the workers we need from abroad.”

The Guardian, Page: 18   The Daily Telegraph, Business, Page: 3    Independent i, Page: 41    The Times, Page: 37   

Previous News pages

Business News – 8th May 2017

Business News – 5th May 2017

Business News – 4th May 2017

Business News – 3rd May 2017

Business News – 2nd May 2017

Business News – 28th April 2017

Business News – 27th April 2017

Business News – 26th April 2017

Business News – 25th April 2017

Business News – 24th April 2017

Business News – 21st April 2017

Business News – 20th April 2017

Business News – 19th April 2017

Business News – 18th April 2017.