Business News Round Up (03/04/2020)
Biggest slump in service sector in two decades
The UK services sector suffered its worst decline on record in March as the coronavirus outbreak took its toll, according to a survey released on Friday. The IHS Markit/CIPS final UK services purchasing managers’ index printed at 34.5, coming in below the flash estimate of 35.7 and down sharply from 53.2 in February. This marked the fastest decline in activity since the survey began in July 1996. Reductions in activity were broad-based across the sector, with only the technology services subcategory recording pockets of continued business expansion, the survey found.
https://aboutmanchester.co.uk/biggest-slump-in-service-sector-in-two-decades/
£70m boost for the sustainable development of Scotland
Crown Estate Scotland has published a three year plan, including a £70 million investment in support of coastal community regeneration, green energy and sustainable food production. The body has launched a three-year plan outlining how it is aims to manage sea, land and coastline for the benefit of Scotland’s businesses and communities. Crown Estate Scotland has fostered new ways of working with local and community partners, supported the growth of offshore renewables and helped develop new ways of farming the land sustainably.
https://www.pbctoday.co.uk/news/energy-news/sustainable-development-scotland/74288/
Tech firm claims growth of chatbots could create 10,000 North West jobs in five years
Chatbot Labs, a North West IT company has claimed widespread take-up of chatbot technology – programmes that automate processes on command – could create 10,000 jobs in the North West. Chatbots are set to boost productivity per employee by as much as 10% a year, leaving them free to do higher value work. Chatbot Labs is developing a system for one branch of the NHS to help make the training of more than a million employees more efficient by allowing trainers to access and package information on command.
Iomart says Covid-19 will boost business long-term as it reveals two acquisitions
Glasgow based cloud computing company Iomart has revealed it has made two acquisitions, ServerChoice and Memset. Iomart unveiled two small acquisitions: the managed private cloud division of privately owned ServerChoice and Memset in deals worth up to £7.2 million. Memset provides dedicated and virtualised private cloud infrastructure to around 2,000 customers. Due to the timing of the year end, the Group has experienced minimal impact on trading in the year from the effects of COVID-19, it expects to report revenue of approximately £112 million up from £103.7 million in 2019 and adjusted earnings of approximately £43 million, up from £42.2m.
https://www.insider.co.uk/news/iomart-says-covid-19-boost-21805394