Business News Round Up (20/10/2020)
New report shows the impact lockdowns are having on UK business productivity
A new report by workplace design consultancy Peldon Rose assesses the relationship between leading UK businesses and their physical workplaces in light of changes as a result of the Covid-19 pandemic. “The Office of the Future” report, commissioned in conjunction with workplace strategy and employee engagement specialists, WKspace found that 48% of business leaders admitted that employee motivation has proved to be the greatest challenge, while 33% have said that productivity has been adversely impacted within their workforce.
Scottish business shows its resilience as company profit warning are on a par with last year
During the first three quarters of 2020, Scottish listed companies issued a similar number of profit warnings to the same period last year. But in the UK as a whole the total hit an all-time high, according to the latest EY quarterly analysis of UK profit warnings. Year-on-year the number of profit warnings in the first nine months of 2020 from companies headquartered in Scotland increased by 6% – representing the smallest increase across UK home nations and English regions. In 2020, the overwhelming majority of profit warnings from Scottish listed companies (94%) have been attributed to COVID-19.
https://www.insider.co.uk/news/scottish-business-shows-resilience-company-22869341
NW profit warnings up as UK figures hit an all-time annual high
During the first three quarters of 2020, listed companies across the North West issued 43 profit warnings, nearly three-quarters more than the same period last year (25), while the UK total hit an all-time high, according to the latest EY quarterly analysis of UK profit warnings. Year-on-year the number of profit warnings in the first nine months of 2020 from companies based in the North West increased by 72%. So far, in 2020, the majority of profit warnings from North West listed companies (84%) have been attributed to COVID-19.
Office deals hit five-year high despite home working
Scotland enjoyed its best third quarter for office deals in five years in spite of concerns that the drift towards home working would drive investors away. As the economy re-opened from lockdown, investment in offices hit £218 million in the three months, against an average of £116 million for the same period in the past half-decade, according to analysis by Knight Frank. The market as a whole saw £400 million of investment – just shy of the Q3 five-year average of £405 million. Colliers International calculations put the investment figure in the quarter even higher at £477 million from a low of £35 million in the previous quarter. The biggest deal in the quarter was Roebuck Asset Management and Hyundai Asset Management’s £133 million acquisition of Aegon’s Edinburgh headquarters during July.
https://dailybusinessgroup.co.uk/2020/10/office-deals-hit-five-year-high-despite-home-working/