Business News Round Up (23/07/2020)
More than half of UK business leaders are not planning to invest more in digital transformation
Business leaders in the UK have no intention of further increasing their investment in digital transformation, according to a new report. The Censuswide report, which is based on a poll of more than 200 senior decision makers from the retail, telecoms, entertainment, and consumer electronics industries, found that 39% will maintain current investment levels, with 17% rolling back plans. The Censuswide report suggests these conclusions defy logic, with the Covid-19 pandemic acting as a catalyst for digital services adoption. Four in ten UK shoppers, for example, take to the web to purchase goods and services.
Scotland leads way in productivity
Scotland has enjoyed the greatest rate of growth in productivity among the UK nation’s and regions, according to new research. In the Researchers suggested that Scotland’s annual average labour productivity had risen by 1.69% between 1998 and 2018. That was ahead of second-placed London, on 1.46%, and was comfortably above the UK average of 1.27%. Northern Ireland was bottom of the table, with 0.67%.
https://www.thetimes.co.uk/article/scotland-leads-way-in-productivity-0q33gc308
Manchester City Centre fringes enjoy robust office take-up – MOAF
The office markets on the fringe of Manchester city centre have remained robust, according to new data, despite the ongoing pandemic. A total of 20 transactions were signed for city centre offices in Manchester in the second quarter of the year, down from 58 in the previous three months, but fringe markets in Salford and Trafford were more resilient recording an increase in take-up. The latest figures from the Manchester Office Agents Forum (MOAF) show that city centre office-take up was down 75% quarter-on-quarter in Q2, to 75,995 square foot from 309,212 in the first quarter of the year, as market slowdown on the back of Covid-19 reduced demand.
£100m islands growth deal announced
The Outer Hebrides, Orkney and Shetland will benefit from investment of up to £100 million as part of the Islands Growth Deal. A range of areas, including tourism, infrastructure, innovation, energy transition and skills, will be targeted with the funding. Both the Scottish and the UK Government are to provide £50 million each, which will be invested over 10 years and will support local sustainable economic recovery and growth. The specific projects and activities to be supported will be announced over the coming months, as part of a Heads of Terms agreement.
https://www.holyrood.com/news/view,100m-islands-growth-deal-announced