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Business

47% of firms plan to spend more

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47% of firms plan to spend more

Almost half of British companies plan to increase investment over the next 12 months, according to research published by Lloyds Banking Group, with 47 per cent intending to raise spending and 7 per cent reporting that their appetite to invest had decreased.

About three quarters of those surveyed said investment was “essential for future growth and resilience”. Confidence was highest among businesses in the East Midlands, Scotland, London and the northwest, Lloyds said, with most spending directed towards technology and artificial intelligence infrastructure.

Amanda Murphy, chief executive of business and commercial banking at Lloyds, said that “while many businesses have already secured funding for investment, a significant proportion have yet to deploy it”.

She said: “Investment drives productivity, competitiveness and long-term growth. Ensuring businesses have the confidence, funding and support to move forward will be critical.”

A fall in energy prices and stable economic conditions were among the factors that would prompt businesses to invest more, the research suggested. Rising operating costs, weaker trading conditions and liquidity constraints were among the biggest deterrents to increased spending.

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Lloyds said businesses were most worried about the rising cost of production, which the bank said was likely to be tied to higher energy prices triggered by the Gulf conflict, poised to enter its sixth month. Renewed attacks between the United States and Iran have triggered a resurgence in the price of Brent crude, the international oil benchmark, which is trading at about $93 a barrel. The benchmark has moved sharply with each turn in the conflict since fighting began in February.

The findings echo a separate Lloyds survey at the end of June, which found that business confidence had dipped over the month amid persistent concerns about inflationary and cost pressures. The bank’s index of sentiment among private-sector companies dropped by 3 points to 44 per cent, below the 12-month average of 47 per cent, according to figures Lloyds published on 30 June. Economic optimism fell by 4 points to 31 per cent. The June barometer was based on responses from 1,200 firms.

Andy Burnham, the prime minister, is hoping for an increase in business investment, an area of weakness in the UK economy. Office for National Statistics figures published on 30 June show whole economy investment, which covers business and public sector spending, was 18.9 per cent of GDP in the first quarter of the year, the lowest of the G7 nations.

The same ONS release put business investment up 0.9 per cent in the first quarter, though still 1.3 per cent below the level recorded in the same quarter a year earlier. Transport was the largest contributor to the quarterly increase.

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Political instability has added to uncertainty for businesses in the UK, with Burnham becoming the fifth prime minister in four years. He has promised to be “a pro-business leader of the Labour Party, as I was a pro-business mayor of Greater Manchester”.

Last week he cut business rates for pubs, clubs and live music venues in England by 20 per cent, which he described as “a first step” for struggling companies. Bosses have called for the government to go further and fundamentally reform the business rates system, which was overhauled in last November’s Budget with the end of the relief scheme introduced in 2020.


Amy Ingham

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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Bali Ha'i boss claims lieutenant lived high life

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Bali Ha'i boss claims lieutenant lived high life

The Australian skipper of Bali Ha’i Cruises claims his former lieutenant lived the high life in London while on an alleged $670,000-plus stealing spree.

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Oil prices rebound by more than $2 a barrel on prospect of tightening US crude supplies

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Oil prices rebound by more than $2 a barrel on prospect of tightening US crude supplies
Oil prices rose by more than $2 a barrel in early trade on Wednesday on shrinking U.S. crude inventories, recouping some of the previous session’s losses caused by a pause in fighting between Washington and Tehran.

Brent futures increased by $2.71, or 3.2%, to $86.80 a barrel at 0002 GMT, while U.S. West Texas Intermediate (WTI) ‌crude rose $2.26, ⁠or 3.4%, ⁠to $81.95.

U.S. crude inventories fell by about 3.3 million barrels in the week ended July 24 ,market sources said on Tuesday, citing data from the American Petroleum Institute.

Gasoline inventories, meanwhile, grew by 918,000 barrels, while distillate inventories climbed 355,000 barrels compared with a week earlier, the sources said.

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Official inventory data from the Energy Information Administration is due later on Wednesday.


Further supporting prices, OPEC+ will ⁠likely halt ‌oil output increases for three months starting in October, sources told Reuters, after the producer group completes the scheduled return of ⁠barrels following voluntary cuts.
Oil prices have whipsawed on the U.S.-Israeli war in Iran, which has disrupted global flows of crude oil, particularly with the effective closure of the Strait of Hormuz. Prices plunged by about 5% on Tuesday to a two-week low on hopes that efforts to end the U.S.-Iran conflict would resume in earnest after a pause in hostilities.

U.S. President Donald Trump, who called off a two-week ‌U.S. bombing campaign over the weekend, told .Fox News on Tuesday that there were “good talks” with Iran, but threatened more strikes if negotiations break down. Iran, however, has ⁠denied that it is seeking to resume talks with the U.S.

Meanwhile, a Gulf source and a Western diplomat told Reuters that Oman has presented Iran with a plan to manage the strait, which would include collecting voluntary fees for using the passageway.

The proposals, backed by Gulf states, aim to serve as a basis to end the disruption to trade through the strait caused by the war.

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Council limits fence height for Goyders’ $17m Peppermint Grove house

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Council limits fence height for Goyders’ $17m Peppermint Grove house

Mining executive Tim Goyder’s plan to fence off his $17 million Peppermint Grove home has sparked a discussion on security at a western suburbs council.

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Costco $14M settlement: Washington shoppers may receive up to $500

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Costco Tillamook cheese bargain makes membership worthwhile for shoppers: report

Costco shoppers in Washington may be eligible to receive a cash payout after the retailer agreed to settle a class action lawsuit accusing the retailer of sending misleading promotional emails advertising limited-time offers.

The lawsuit alleges Costco violated Washington’s Commercial Electronic Mail Act (CEMA), which regulates commercial email marketing.  

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Under CEMA, recipients may recover up to $500 per qualifying email. However, the actual payout from the settlement is currently unknown and will depend on the number of valid claims submitted. 

While denying any wrongdoing, Costco agreed to pay $14 million to settle the lawsuit, Aaland v. Costco Wholesale Corp.

COSTCO HIT WITH LAWSUIT ALLEGING PROTEIN POWDER SOLD IN STORES CONTAINS ‘DANGEROUS’ LEVELS OF LEAD, ARSENIC

Costco

People arrive and depart at a Costco Wholesale store on June 13, 2026, in Bayonne, New Jersey.  (Gary Hershorn/Getty Images / Getty Images)

Washington residents whose email addresses are in Costco’s records and who received the promotional emails between June 2021 and July 2026 may be eligible to file a claim. 

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To receive a share of the settlement, eligible class members must submit a claim form by Aug. 24, 2026.

According to the lawsuit, Costco allegedly violated state law by sending commercial emails with deceptive subject lines that created a false sense of urgency by advertising limited-time offers that plaintiffs allege the retailer intended to extend beyond the advertised promotional period. 

Examples of the subject lines cited in the lawsuit include “Today is the last day to access Member-Only Savings” and “Hot Buys available for 5 Days Only.”

Costco shoppers in Vermont.

Customers look over food items at a Costco store in Colchester, Vermont, in August 2024. (Robert Nickelsberg/Getty Images / Getty Images)

COSTCO QUIETLY DISCONTINUES AWARD-WINNING KIRKLAND ITEM FANS CALL ‘ONE OF THE BEST’ IN THE MARKET

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The net proceeds of the $14 million settlement will be distributed equally among class members who submit valid claims after court-approved attorneys’ fees, litigation costs and service awards are deducted. The exact payout per person remains unknown because it will depend on the total number of approved claims. 

Each class member may submit only one claim form, regardless of how many qualifying promotional emails they received from Costco.

Ticker Security Last Change Change %
COST COSTCO WHOLESALE CORP. 966.58 +15.00 +1.58%

Individuals may also choose to opt out of the settlement to preserve their right to sue separately or object to its terms by Aug. 24. 

Those who take no action will receive no compensation and will be barred from pursuing future legal claims related to the allegations covered by the settlement.

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The court will decide whether to grant final approval to the settlement on Oct. 2, 2026, at 3:30 p.m. PT in Seattle. 

Costco customer receipt

Customer handing receipt to door checker employee at the exit, Costco megastore, Queens, New York. (Lindsey Nicholson/UCG/Universal Images Group via Getty Images / Getty Images)

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Payments may be issued by paper check, Venmo, PayPal or other electronic payment methods.

 

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Corning Incorporated (GLW) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript