Business News Round Up (12/08/2025)
UK jobs market cools as wage growth slows and vacancies fall amid higher business tax
The UK labour market showed further signs of cooling in the three months to June, with wage growth slowing, vacancies falling and payroll numbers declining, according to the latest figures from the Office for National Statistics (ONS). Average weekly earnings, including bonuses, rose 4.6% in Q2, down from 5% in the previous three-month period and slightly below economists’ forecasts. Private sector pay grew by 4.8% – the weakest rate since January 2022 – undershooting the Bank of England’s 5.2% forecast. Excluding bonuses, earnings rose 5%, unchanged from the previous quarter. The slowdown comes as businesses face higher costs from the April increase in the National Living Wage and the rise in Employer National Insurance Contributions. Retail, leisure and hospitality firms have been among the most vocal about the impact on hiring.
https://bmmagazine.co.uk/news/uk-labour-market-cools-wage-growth-vacancies-fall
Survey: 14% of Scottish venues face closure
Nearly 60% of hospitality businesses in Scotland expect to make a loss this year, with 14% considering closure, according to a new survey. A survey by the Scottish Licensed Trade Association (SLTA) revealed that 59% of businesses expect to be loss making in 2025. Profitability in 75% of outlets was down when compared to last year, with 56% of outlets reporting a decline of over 10%, according to the Scottish On-Trade Market Insight Survey Report in August. Meanwhile, 56% of outlets predict a decline in trading for 2025 and 14% of outlets are planning to or are seriously considering closure. The SLTA said this figure is more than double the number from its January 2025 survey (6%). In terms of trading for the first half of 2025, 38% have experienced a major decline compared to the same period last year, while 16% reported a slight decrease.
Cyber and Fraud Hub helps 450 victims and recovers £1.15m in first year
Scotland’s sole charity dedicated to supporting victims of cybercrime and fraud has announced a significant impact in its inaugural year, recovering or preventing the loss of over £1.15 million for those affected. Launched in July 2024, The Cyber and Fraud Hub, working in close collaboration with Police Scotland, has provided assitance to over 450 individuals whose reported cases totalled £18.2 million. Through this collaboration, the organisation has successfully recovered or prevented from loss £1.15m offering not only financial reprieve but emotional and legal support. At its core, the charity’s mission is to support victims of scams and fraud by empowering them through education and guidance. The hub provides victim assistance via a support helpline, and fraud prevention education with free, accessible online resources to support for those navigating the aftermath of cybercrime.
Manchester Digital targets unemployed STEM graduates with Grad Recharge programme
A new initiative has launched in Manchester to help unemployed STEM graduates to break into high-growth digital and tech careers. Delivered by Manchester Digital in partnership with Pathways CIC and commissioned by Manchester City Council, the Grad Recharge programme is fully-funded by the UK Government as part of its Economic Activity Trailblazer initiative. The 16-week programme will specifically support STEM graduates in Manchester who are facing multiple barriers to employment, which could include mental health challenges, limited confidence, lack of professional networks and systemic inequality. Currently, youth and graduate unemployment is rising across Manchester, with each unemployed young person estimated to cost the economy £48,211. STEM graduates are often caught in a difficult middle ground, overqualified for entry-level roles but underprepared for the fast-moving, network-driven nature of digital employment. Post-COVID, mental health challenges have deepened, and mainstream employability services continue to fall short in preparing people for sector-specific demands.