FORECAST/RESEARCH/STUDY

By Emmanuel Oluebube, Correspondent UK As the UK faces a ‘second wave’, there are rising concerns around how COVID-19 is impacting the UK’s coffee and tea shops – with big names such as Costa and Pret-a-Manger announcing plans to cut more than 1,500 and 3,000 jobs, respectively. The sector has shrunk from £6.6bn(US$8,60) in 2019 to a COVID-19-adjusted forecast of £5.4bn by the end of 2020 – equating to a shocking 18 per cent loss*1, says GlobalData, a leading data and analytics company. Consumer Analyst at GlobalData, Lucy Ambler comments:...

Nokia predicted 5G-enabled industries would add US$8 trillion to global GDP by 2030, with more than 70 per cent of large companies expected to invest in the technology within the next five years. The forecasts come in the vendor’s 5G Business Readiness Report, produced along with Nokia Bell Labs following a survey of industries in eight markets conducted by Sapio Research. In a statement, Nokia noted the research had uncovered a need for action on improved regulation, collaboration and “willingness to innovate” by stakeholders to bring about increased understanding, confidence...