Watch: National business news headlines - June 18 - video Dailymotion

Watch Watch: National business news headlines - June 18 - Insider Media on Dailymotion

Transcript

00:00Good morning and welcome to the latest Business Bulletin on Wednesday the 18th of June.

00:05UK inflation came in higher than expected in May, holding at 3.4% despite forecasts of a drop.

00:11The ONS says rising food prices offset cheaper airfares and transport costs.

00:16An error in April's data means last month's figure should also have been 3.4%.

00:20Economists had hoped for a bigger fall after April's spike in household bills.

00:25The UK economy is now forecast to grow more slowly than expected, according to the CBI.

00:32US tariffs and rising costs are hitting investment, dragging growth predictions down to 1.2% for 2025.

00:39That's a sharp drop from the earlier 1.6% forecast, with next year now cut to just 1%.

00:45The CBI says early year momentum is fading as business pressures mount.

00:50Two major regional investors are merging to form PXN Group, a £670 million venture capital giant.

00:58Protura Ventures and Par Equity will combine forces to boost funding outside London and the southeast.

01:04The new firm will be the fastest-growing investment group of its kind beyond the capital.

01:09The merger is subject to approval from the Financial Conduct Authority.

01:14AO World has posted stronger-than-expected results, with profits up 32% to £45 million.

01:19Revenue rose to £1.1 billion, boosted by its membership scheme and the Music Magpie acquisition.

01:25Business-to-consumer sales jumped 12% as the firm expanded its product range.

01:30The Electricals retailer says growth was driven by customer loyalty and new offerings.

01:36And finally, despite headlines suggesting a return to the office, most employers haven't cut back on flexible working.

01:42New research shows hybrid arrangements remain common, especially in the public and not-for-profit sectors.

01:47Just 2% of eligible staff choose to work fully on-site.

01:51Researchers found no clear link between hybrid working and employee pay.

01:55That's all for today. Thank you for listening.