Tuesday business round-up: Five key stories of the day

The ONS said motor fuel prices were the main driver behind the uptick in CPI. Picture: Lisa Ferguson
The ONS said motor fuel prices were the main driver behind the uptick in CPI. Picture: Lisa Ferguson
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Here are five of today’s key business stories in one handy package.

Inflation hits 12-month high

The rate of inflation rose to 0.3 per cent in January, from 0.2 per cent the previous month, official figures showed. The rate was the highest level for the consumer prices index in a year, pushed up by the fact that petrol and diesel prices fell less sharply last month than they did 12 months earlier.

Castle Street deal

Edinburgh-based investor Castle Street Investments acquired data centre and network services firm C4L for £20.2 million in cash and shares. The Aim-quoted firm, co-founded by entrepreneur Bill Dobbie following the sale of the Cupid online dating business, said the deal marked further progress towards its goal of becoming an “integrated IT services and cloud provider”.

New market for Wood

Energy services giant Wood Group announced a move into the UK petrochemicals sector. The Aberdeen-based group struck a five-year agreement to provide surface preparation and protective coatings for Valero Energy’s Pembroke refinery in south-west Wales, which has the capacity to handle 220,000 barrels of crude oil a day.

Going Dutch

Mobile operator Vodafone sealed a deal with Virgin Media owner Liberty Global to merge their Dutch businesses. The company said the joint venture would forge a stronger Dutch internet and mobile operator by bringing together Vodafone’s mobile operation with Liberty Global’s Ziggo broadband network.

Noble gesture

Nissan specialist Alex F Noble took the wraps off its refurbished dealership in Midlothian. The firm said the revamp came as it marks ten years of working with the Japanese marque. Work on the refreshed showroom began in November, using a “cutting edge” concept that was developed in the UK for a global roll-out.