Today’s news in brief – 3/2/2025

PKF Global has announced numerous senior promotions across its network, spanning Europe, North America, and Eastern Africa. In Ireland, PKF Brenson Lawlor elevated Bryan Casey-Whitmore to director in audit and advisory. Promotions across Europe include new partners in Belgium, Albania, Norway, Germany, and Spain. PKF O’Connor Davies in North America named six new partners, recognizing their expertise and contributions. In Eastern Africa, PKF Tanzania promoted Hussein Nurdin to partner, while PKF Egypt elevated Mostafa Emara to deputy audit partner. These promotions highlight PKF Global’s commitment to strengthening leadership and expertise across its member firms worldwide.
The EY ITEM Club has downgraded the UK’s 2025 GDP growth forecast to 1% after a weaker-than-expected end to 2024. However, quarter-on-quarter growth is still anticipated, supported by gradual interest rate cuts and improved consumer confidence. GDP is expected to rise to 1.6% in 2026. Business investment is projected to increase, though financial constraints and global trade uncertainties may dampen private sector confidence. Inflation is forecast to exceed 2% through 2025, with the Bank Rate predicted to reach 3.75% by year-end. Consumer spending is set to rise by 1.6% as economic conditions gradually stabilize.
BK Plus has facilitated the sale of JB Kind, a Swadlincote-based door distributor, to an experienced investment group specializing in manufacturing and distribution. The acquisition comes after a challenging period for JB Kind and aims to provide stability, restructuring, and future investment opportunities. The deal ensures continued service for JB Kind’s long-standing customers and secures employment for its workforce. BK Plus praised the new ownership’s ability to steer the business forward. JB Kind’s leadership remains committed to maintaining strong customer relationships, with optimism that the transition will enhance the company’s resilience and long-term success.
Moore Kingston Smith Corporate Finance has advised Mactech Energy Group on its sale to Assystem SA, a global nuclear engineering firm. Mactech, a leading UK workforce solutions provider in nuclear and renewable sectors, will retain its brand and market position under new ownership. The transaction followed a strategic review targeting buyers in nuclear engineering and recruitment. Moore Kingston Smith played a crucial role in highlighting Mactech’s value, facilitating negotiations, and securing a favorable deal. Mactech sees the acquisition as an opportunity to expand career opportunities and strengthen its role in the UK’s green energy transition.