Business news 28 February 2025
Just a note that there will not be any news today or Monday as I am on leave. There will be a bumper edition on Tuesday.
James Salmon, Operations Director.
Just a few bits from Thursday evening.
US Trade
Chancellor of the Exchequer Rachel Reeves said the British government wants to boost commerce with the US, its biggest single-country trading partner, even as President Donald Trump threatens widespread trade tariffs. Last time that President Trump was in the White House, trade and investment between our two countries increased,” Reeves said “I have every confidence that can happen again.”
US President Donald Trump on Thursday said that his proposed tariffs on Mexico and Canada will go into effect on March 4, and that China will be charged an additional 10% tariff on the same date. The sweeping 25% tariffs on imports from Mexico and Canada had been paused on Feb. 3 for one month. But the Trump administration has recently sown confusion about whether they would go back into effect when the delays expired.
Markets
The FTSE 100 closed up 0.21% at 8750.04 and the Euro Stoxx 50 closed down 1.13% at 5465.57.
Over in the US the S&P 500 is currently up 0.06% at 5958.4 and the NASDAQ is down 0.54% at 18973.35.
On currencies, the pound is currently worth $1.263 and €1.213. On Commodities, Oil (Brent) is at $73.73 & Gold is at $2876.
Rolls-Royce was the stand-out performer on the UK market, jumping as much as +20% on the day. The aerospace and defence firm saw its share price surge higher after investors welcomed the new £1 billion share buy back programme, with the company’s turnaround strategy delivering its targets two years ahead of plan.
At the other end of the spectrum, WPP saw its share price drop sharply, as the advertising firm now expects to see lower revenue due to “weaker client spend”. WPP shares were down -15% in late trading.
Building to fan inflation
Britain will be hit by rising prices and severe bottlenecks as a result of the Labour government’s plans for an historic increase in building projects, analysis shows. As much as £900 billion will be spent on public and private infrastructure by the end of 2029, according to a Boston Consulting Group report published Thursday. Thats a threefold increase on the average of the last 5 years. Given the shortage of construction workers, the increase is going to fan inflation. in the industry.
Ocado
Ocado slumps as its automated warehouse rollout slows and it cuts 500 jobs.
The retail automator said it made good financial progress in the potential of automation to improve retail supply chains in the past financial year, as it is focused on driving efficiencies. The Hertfordshire-based licenser of grocery delivery technology said pretax loss narrowed to £374.5 million in the financial year ended December 1, from £393.6 million a year ago. Revenue grew 14% to £3.16 billion from £2.77 billion. Operating costs increased 11% to £3.00 billion from £2.71 billion.
Ben & Jerry’s
The founders of Ben & Jerry’s have expressed interest in buying back their namesake ice cream brand from Unilever Plc
Why you should become a member of CPA!
The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid, since 1914. We have supported our members through all sorts of difficult trading environments. With high interest rates and a struggling economy and elevated insolvencies, our services can help your business navigate these difficult waters.
Unlike other credit management and debt collection companies, we offer a range of services to our members that are all included as part of a fixed annual subscription, tailored to your needs.
Under your annual subscription you will have access to our main services:
- Our Creditcare credit reports provide credit ratings and limits along with a host of detailed information on your potential customers to enable you to trade with confidence and set appropriate credit policies for new customers.
- Our monitoring service will alert you to any significant changes in the status of those customers.
- Our Overdue account recovery service can be used to chase up payment on any invoices to those customers that have not been paid on time. Unlike other debt collection companies, this service directs your customer to pay direct to you and allows you to maintain your goodwill with them, rather than inserting ourselves into your relationship with you customer and insisting they pay CPA instead. Our Overdue account recovery service resolves over 80% of accounts referred to us.
All of the above services and other complimentary services such address verification, are included in your subscription!
And for the small minority of debts not resolved through our Overdue account recovery service, you can refer the debt to our collections department to escalate the late payment collections process.
CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. And we provide credit information so you can monitor and assess your key customers and be warned of any potential risks. CPA has been improving business cash flow for over 100 years, by tackling late payers and campaigning against the late payment culture in the UK.
Unlike other credit management companies, we offer our members a fixed annual subscription regardless of how high the value of their debts maybe!
Rather than to borrowing more money to improve your cashflow, CPA suggests that business owners tackle the problem at its source. If late payments are a strain on your cashflow, then talk to CPA about how we can help you reduce those late payments.
Just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Do you have a commercial late payer that is causing you grief? Use CPA’s no-win, no-fee, commercial debt recovery service!
If you have a particular business customer who is late paying and causing you sleepless nights, why not offer it to CPA’s collection department for purchase on recourse?
CPA’s collection department will then pursue the debt. We will be liable for any costs incurred and then when we have recovered the debt, we will pay you the net principle debt recovered less our percentage.
Once you have enjoyed that success then you can consider the more cost effective membership which includes our Overdue Account Recovery service and Status/Credit reports as well as a range of other complimentary services.
Just call 020 8846 0000 and ask for Godfrey Nelson or Cris Shirley (business hours) or email debtpurchase@cpa.co.uk today.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.
Get compensated for previous late payments
Have you been paid late by business customers in the last six years?
Maybe you no longer work with them. Under legislation, you are entitled to compensation you for those late payments you have suffered.
You put up with the PAIN – now claim the GAIN!
Claim late payment compensation (LPC) from former business customers who paid you late in the last six years!
CPA (LPC) Recoveries is using our bespoke software and decades of experience to do just that for our clients
Check our compensation calculator to see how much your business could be owed!
Discover NOW the potential value of late payment compensation hidden in your sales ledger!