Business News Round Up (08/10/2020)
Scottish job market challenges ahead as business pull back on investments
The Scottish jobs market improved last month but there are “further challenges ahead” according to the Royal Bank of Scotland’s chief economist. The bank’s latest labour market report, published today, showed the downturn in permanent placements across Scotland eased in September while temporary billings returned to growth. Widespread reports of redundancies led to further rapid increases in both permanent and temporary candidate numbers. According to panellists, the reopening of businesses amid an easing of coronavirus lockdown measures, as well as efforts to clear backlogs, were the main drivers of growth.
First increase in job placements at Northern companies since February, KPMG and REC report shows
The North saw the first increase in permanent job placements in September for seven months, a new KPMG and REC report has shown. Placements rose for the first time in seven months, with recruitment firms saying companies were more prepared to hire following the reopening of the economy after the effects of the Covid pandemic. September’s data also pointed to a third successive monthly increase in temp billings in the North of England – and reached its fastest rate of acceleration since October 2018. The report, compiled by IHS Markit, is based on information obtained from 100 recruitment and employment consultancies across the entire North of England.
https://www.business-live.co.uk/economic-development/first-increase-job-placements-northern-19065694
IPO activity revives as market adapts to Covid
IPO activity has started to return to the London Stock Exchange as the UK emerges from lockdown, a new report from EY has found. The latest IPO Eye tracker said the London Stock Exchange’s “Main Market and AIM have adapted to operating in a predominantly virtual environment as a result of Covid-19”. Notable deals in Q3 of 2020 include The Hut Group raising £1.88 billion – the largest IPO for three years – while the London Shanghai Stock Connect program had its second listing of the year with China Yangtze Power Co Ltd, raising £1.4 billion.
https://dailybusinessgroup.co.uk/2020/10/ipo-activity-revives-as-market-adapts-to-covid/
BT Group agrees major office deal
BT Group has agreed a deal to take space at a landmark development in Greater Manchester. BT Group today announced that the landmark New Bailey development, close to Manchester city centre, will be its primary new home in the city and provide a future-fit workplace for thousands of colleagues. The new building will complete the New Bailey scheme, close to the city’s Spinningfields business district. It will become a key hub for BT with the capacity for up to 2,000 colleagues – more than four times the number currently based in Manchester. The company will eventually occupy the full building, marking a major investment in the city.
https://www.insidermedia.com/news/north-west/bt-group-agrees-new-bailey-deal