BUSINESS LIVE: China’s economy under pressure as factory growth slows; UK business confidence hits four-year high; Dividend payments threatened by new pension rules
- China’s factory activity slows amid weakening export demand
- Worries over staff shortages, but UK business optimism reaches 4-year high
- Actuarial firm LCP warns over future of divi payments amid new pension rules
- Ofgem launches new £450m fund for to help businesses go green
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China’s businesses and the broader economy came under mounting pressure in August as factory activity expanded at a slower pace, while the services sector slumped into contraction.
Business confidence across Britain has hit a four-year high, driven by rising optimism about the post-Covid recovery, but some companies highlighted concerns about staff shortages.
The vaccine rollout, scrapping of lockdown restrictions and changes to self-isolation rules all contributed to greater optimism among firms this month, according to the latest snapshot from Lloyds Bank.
Elsewhere, fresh rules could force blue-chip businesses to allocate spare funds to pension schemes instead of hiking dividend payments after the pandemic.
Speaking to The Times, actuarial firm LCP warned that companies should not underestimate the significance of the new Pension Schemes Act 2021.
And, energy company regulator Ofgem has today launched a £450million fund aimed at projects that will help the country meet its net zero climate targets.
Ofgem will make the money available to energy network companies that are trying to ensure homes and business are going green.
