Sirius Bulletin - 19th April 2022
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
Double-digit price increases for customers
Video game developers could benefit from an influx of money from some of the biggest technology companies in the world as they compete to build a ‘Netflix for games’. Microsoft, Sony, Apple, Amazon and Netflix have all launched subscription services in an attempt to entice gamers onto their platforms.
Read more at: www.theguard ian.com/games/2022/apr/11/video-ga me-developers-cash-i nflux-tech-firms-compete-deals netflix
Strong demand for graduates
The number of graduate vacancies is 20% higher than before the Covid-19 pandemic, with job vacancies for graduates expected to increase by 22% in 2022.
Read more about the demand at: www.universitiesuk.ac.uk/latest/news/strong-demand-graduates-amid-uk-skills
Struggles for small builders overshadowed
According to the Federation of Master Builders, 95% of local builders have reported increased material costs and upwards of 40% are struggling to recruit key trades such as carpentry and bricklaying.
Read more about the struggles at: www.fmb.org.uk/resource/struggles-for-small-builders-overshadow-rising-construction-output.html
Farmland values reach six-year high
Agricultural land values in England have reached their highest level since 2016, with the majority of farms now selling at or above their guide price. The average value of arable land is currently £9,500 per acre, a rise of£ 100 per acre since the end of 2021.
Read more about the increase at: www.farminguk.com/news/farmland-values-reach-six-year-high-analysis-shows 60191.html
Planned redundancies rise 103% in one month
The number of planned redundancies in the UK increased by 103% in just one month, from 8,869 in January 2022 to 18,043 in February 2022. Data from the Insolvency Service suggests that the number of redundancies is set to increase sharply as interest rates continue to rise.
Read more about the increase at: www.personneltoday.com/hr/planned-redundancies-rise-103-in-one-month
Merchants plan strike over fee increase
Thousands of Etsy sellers are planning to strike over an increase in fees. Etsy has raised its platform transaction fee from 5% per order to 6.5%.
Read more about the increase at: www.chargedretail.co.uk/2022/04/12/etsy-merchants-plan-strike-over-ridiculous-fee-hike/?
Sector hit hardest by energy costs
The food and drink industry is suffering more from soaring energy and raw material costs than any other business group, according to the Office for National Statistics. More than two thirds of food and beverage companies said prices of materials, goods or services rose in March 2022, compared with about half for businesses across all sectors.
Read more about the impact at: www.bloomberg.com/news/articles/2022-04-04/britain-s-food-sector-hit-hardest-by-rocketing-energy-costs?
M&S partners with second-hand kids’ clothing platform
Marks & Spencer is launching a trial with the peer-to-peer marketplace Dotte, where users can buy, sell, donate and recycle outgrown kidswear. Marks & Spencer has become the first major retailer to join the platform.
Read more about the trial at: www.thegrocer.co.uk/marks-and-spencer/mands-partners-with-secondhand-kids-clothing-platform dotte/666278.article
New recalls and alerts website
The Office for Product Safety and Standards has launched a new website for product safety alerts, reports and recalls to help consumers, businesses and consumer groups identify unsafe products.
Read more about the website at: www.gov.uk/government/news/new-product-recalls-and-alerts-site
DISCLAIMER While all reasonable efforts have been made, the publisher makes no warranties that this information is accurate and up-to-date.