Weekly Digest – 8 March 2023

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

5 things to look out for in budget 2023

Jeremy Hunt’s first budget as chancellor is due March 15. The Guardian rounded up five things to watch for in this budget, which is expected to be unremarkable compared to Kwasi Karteng’s budget, which we were all reeling from at this time last year.

Starbucks plans to expand its presence in the UK

After reportedly considering selling its UK branch altogether, Starbucks has revealed plans to invest £30m here and open 100 new cafes after reporting lower taxes on its UK operations in 2022.

Costa Coffee set to give its third staff pay rise in a year

In more coffee-related news, Costa Coffee is about to raise staff wages for the third time in a year to retain employees. The labour shortage has made it increasingly difficult to keep businesses staffed, and the move is similar to those seen at Pret A Manger.

China’s low growth target causes FTSE to fall

The export-oriented FTSE 100 fell 0.2%, mainly due to China setting a lower-than-expected gross domestic target of 5% for the year – lower than the 6% expected. Despite the low target, China’s economy is generally thought to be on the rebound following the end of its Zero Covid policy.

Boost investment in green tech to stimulate the economy

Tony Danker, chief executive of the CBI, demanded that Jeremy Hunt reverse the UK’s trajectory of falling investment in green technologies through a series of actions, including new regulations to stimulate domestic demand.

Programme aims to get workers well and back to work

The workforce is substantially smaller than before the pandemic, and the Work and Health programme is designed to address that. Whether people are out of the workforce due to long-term health conditions, caring responsibilities, or early retirement, the goal is to help them get back to work and, as a result, drive down inflation and fix the labour shortage.

How business coaches can help you succeed

As an entrepreneur, you will face countless financial challenges and be surrounded by people who want to see you succeed but may not always lead you down the right path. Learn how employing a business coach can help steer you to financial success.

Don’t use ChatGPT for financial advice

AI is everywhere these days and proving to be quite helpful. However, it’s also often wrong. After prompting ChatGPT to produce a plan to purchase a US$500,000 (£416,020) house, one expert warns that the chatbot should not replace a professional financial planner.

6 ways to learn from a failed entrepreneurial venture

Failure in business can be scary, embarrassing, and emotionally draining, but it gives you a reason to get back up and try again. Here are six ways to learn and pivot from an entrepreneurial journey gone awry.

Toblerone is no longer Swiss enough to have the Matterhorn on its packaging

Mondelez, the US parent company of Toblerone, is moving some of its production to Slovakia. Because Switzerland has laws regulating the use of national symbols, the change could see the Matterhorn disappear from the packaging because it will no longer meet the country’s standard of ‘Swissness.’

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