The week in North East business - and the week to come

Latest North East business news Read in browser North East Enterprise Tech Retail | Sign In This week saw the release of some extraordinary figures which show how successful the North East has been in attracting inward investment. The 5,495 jobs created in 59 inward investment programmes in the Nor

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This week saw the release of some extraordinary figures which show how successful the North East has been in attracting inward investment. The 5,495 jobs created in 59 inward investment programmes in the North East LEP area were 2,000 more than the next most successful area. The North East a whole saw easily the highest number of jobs created related to the size of its population. (Read more). Those figures show the region punching above its weight in one area of the economy but there was also a warning that things are tough for business from the visiting head of the CBI. On a visit to Newcastle, director-general Tony Danker warned about the dangers of inflation and called on the Government to concentrate on raising business confidence rather than engaging in pointless arguments. You can read more on that story here. Political leaders in the region are hoping to build on the sort of success seen in attracting overseas investors by securing a new devolution deal. Councils in Northumberland and Tyne and Wear have agreed on a devolution deal that expands the current North of Tyne combined authority from three council areas to six, and a population of around 830,000 to more than 1.4m. A statement released by the North East England Chamber of Commerce, the CBI and the Federation of Small Businesses has backed the moves, saying the plans "could make a real difference to creating the conditions for success in the North East". READ MORE

The long read: investment and electrification push boost region's automotive sector These are tough times for many businesses, however, and last week saw Shevaun Haviland, director-general of the British Chambers of Commerce, urge the Government to put in place support for businesses to help firms weather a "perfect storm" of spiralling costs and problems recruiting workers. She said: "Increasing costs of raw materials over last summer, supply chain and shipping issues, problems in recruiting people, and, by this March, spiralling energy prices. It really is the perfect storm for businesses, firmly putting the brakes on recovery. This has to change; we are on limited time. The Government has until the autumn Budget to reset, rethink and get their house in order." Her intervention is not likely to be last - only time will tell whether Ministers are listening, and feel able to act. Graeme Whitfield, North East business and agenda editor

In case you missed it - the big stories of the last week in North East business Four North East firms make list of UK's fastest growing companies 300 new jobs on offer at Nissan Developers secure funding for next phase of Durham logistics hub Loss posted at Tolent despite record turnover Teesside insurance firm acquired by American giant

Get in touch with us! Is there something specific you'd like us to write about or just some feedback to share? Send an email to Graeme Whitfield or Coreena Ford

Next week's business diary Here are some of the events happening in the business world this week Monday July 4: N/A Tuesday July 5: 07:00: Trading updates: Mattioli Woods, Sainsbury's. 09:30: UK service sector PMI data. 10:15: BEIS committee on UK semiconductor sector. 10:30: Bank of England Financial Stability Report. AGMs: Marks & Spencer, Saga Wednesday July 6: National insurance starting thresholds will increase to £12,570. 07:00: Trading updates: Robert Walters, Topps Tiles. 09:10: Speech by Huw Pill, chief economist of the Bank of England. 09:30: ONS research: Understanding recent falls in self-employment in the UK. 09:30: UK construction sector PMI data. Thursday July 7: 07:00: Finals: Currys, Jet2, Watches of Switzerland. 07:00: Interims: John Wood. 07:00: Trading updates: C&C Group, Entain, Ferrexpo, Persimmon. 09:30: Office for Budget Responsibility fiscal risks and sustainability report. 09:30: ONS: Economic activity and social change in the UK, real-time indicators. AGMs: Pets at Home, Sainsbury's, Severn Trent. Friday July 8: 07:00: Trading update: Vistry. 09:30: Latest survey of the impact of the cost of living, goods shortages and Covid-19, from the Office for National Statistics. See more stories

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