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  • 18/06/2025
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 ยฃ670 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 ยฃ45 million.
01:19Revenue rose to ยฃ1.1 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.

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