Business News Round Up (30/01/2024)
Increasing levels of corruption in the UK pose a threat to the business community
The UK has scored its highest ever ranking on the Corruption Perception Index, and businesses should be worried. Transparency International, the world’s leading anti-corruption NGO, publishes its annual Corruption Perceptions Index. It made chastening news for the UK, which received its lowest ever ranking. Every year it reveals which countries are perceived to be doing better and which are believed to be doing worse in tackling public sector corruption. The nearer to 100, the better the country is perceived to be doing in the fight against malfeasance. In 2023 Denmark (90) came top of the pile, with Finland (87) and New Zealand (85) close behind. In 2023 Britain came in with 73, putting it on a par with France, Austria and the Seychelles and a long way ahead of the likes of Somalia (11), Syria, Venezuela, and South Sudan (all 13).
CBRE research reveals office marketing performance in final quarter of 2023
Leading real estate advisor CBRE has released its latest figures on the key office markets in Scotland during the final quarter of 2023. While take up was slightly down on the previous three months, Edinburgh and Glasgow are showing positive signs of recovery with significant requirements for space from large corporates and a growing demand for flexible office space for companies bringing employees back to the office. Angela Lowe, Senior Director at CBRE added: “The Scottish office markets are continuing to perform well with demand for flex space in particular continuing to be high, with operators reporting a significant number of new viewings every day. With some of the newer flex spaces offering services like beer on tap and in-house baristas, it’s easy to see the attraction of these centrally located workspaces for companies keen to lure reluctant employees back to the office.”
‘Different models emerging’ within hybrid work policies
New research has shown how firms in Scotland’s financial and professional services industries are diverging in their policies on hybrid working. The report from CMS and Scottish Financial Enterprise (SFE) indicates that the trend for there being ‘no dominant model’ for hybrid-working has continued, with businesses now differing significantly in approaches to suit their own business models. While hybrid working has become standard practice – offered by 96% of firms – what hybrid working looks like differs significantly from organisation to organisation. The research found that 41% of respondents have a formal written policy, while 59% have an informal approach. 64% of respondents do not have set office days – rather, these are decided on a team or business basis. The research also showed that some firms are opting to be more office-centric, with qualitative responses showing that many believe offices play an important role in shaping culture and boosting productivity.
https://www.insider.co.uk/news/different-models-emerging-within-hybrid-31998639
Materials Processing Institute embarks on groundbreaking artificial intelligence initiative to transform UK’s Additive Manufacturing sector
The Materials Processing Institute is leading a £600,000 research collaboration to develop a groundbreaking artificial intelligence tool capable of creating greater efficiencies within the Additive Manufacturing (AM) sector. Working in partnership with Additive Manufacturing Solutions Ltd and AMFG, it aims to provide a versatile, commercial, predictive material reuse management tool that will enable AM to expand by introducing greater cost efficiencies. Known as SMART-APP, its aim is to enable world class production of AM components, using Laser Powder Bed Fusion through the introduction of smart predictive models for resource efficiency and waste reduction. The project is funded by Innovate UK, part of UK Research and Innovation (UKRI), the UK’s innovation agency, which drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas.