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Business Live
Deal reached over £50m unusable motorway junction – two years after being built
A deal has finally been agreed with the government to connect an unusable motorway junction to the road network nearly two years after it was built. Most of the work on the £50m M49 junction, near Bristol, was completed by National Highways (formerly Highways England) at the end of 2019 – but motorists have been …
Business
Business Live
Salford Red Devils in ‘positive talks’ to switch stadiums with Class of ’92-owned Salford City FC
Super League side Salford Red Devils could switch stadiums with Class of ’92-owned Salford City FC as part of a move by the League Two club and Premiership rugby’s Sale Sharks to buy the AJ Bell Stadium. The stadium is currently home to Sale and the Red Devils while Salford City play their home games …
Business
Evening Standard
City bets on interest rate rise this year on back of Bank Governor’s comments
CITY traders today firmed up their bets that UK interest rates will rise faster than previously thought in the face of soaring inflation, wage demands and supply chain problems.Until very recently economists and others in the City were pricing in a rise in rates from historic lows of 0.1% in the first quarter of next …
Business
Business Weekly
PragmatIC raises $80m Series C
PragmatIC Semiconductor, the Cambridge-based global player in flexible electronics, has raised $80 million of Series C funding. The scale-up investment will be used to build a second FlexLogIC fab in the North East of England, to meet the growing demand for ultra-low-cost flexible integrated circuits (FlexICs) for the Internet of Everything, and strengthening the position …
Business
Sky News
Energy crunch powers growth slowdown in ‘unstable’ China recovery
Power shortages and supply chain difficulties are being widely blamed for a slowdown in China’s economic recovery from the coronavirus pandemic.Official figures from the country’s National Bureau of Statistics (NBS) showed the world’s second-largest economy grew by 4.9% in July-September from a year earlier. Economists polled by the Reuters news agency had expected a figure …
Business
Sky News
Ford backs UK plant with £230m investment to support electric car future
Ford has revealed plans to transform its gearbox plant on Merseyside to build electric power units from 2024, safeguarding 500 jobs.Sky News revealed last month that the Halewood factory was in competition with a site in Germany to secure the work. Ford said the government was supporting its investment through the Automotive Transformation Fund.The company …
Business
Sky News
Facebook plans to hire 10,000 people in Europe to build its metaverse
Facebook plans to hire 10,000 people in the European Union over the next five years to help build its metaverse, the social media giant has announced.The social network said in July that it was creating a product team to work on the metaverse, which would sit within Facebook Reality Labs, its augmented reality and virtual …
Business
Sky News
End Clothing lines up former Gucci chief to fashion growth spurt
A former boss of Gucci is being lined up by Carlyle, the global buyout giant, to fashion a fresh growth spurt at End, the British online clothing business it bought this year.Sky News understands that Patrizio di Marco, who left Gucci in 2014 and subsequently had a spell with Dolce & Gabbana, another famed Italian …
Business
Business Live
Newcastle transport firm Go-Ahead loses southeastern rail franchise
Newcastle transport group Go-Ahead has lost one of its rail franchises in the south of England after failing to declare £25m of taxpayer funding. Train services on Southeastern’s network have been taken over by the Government, completing the switch first announced last month in which the Department for Transport (DfT) runs trains under the Operator …
Business
Business Live
Newly-listed Northcoders to double headcount and expand across the UK
The founder and CEO of one of the most recent companies in Greater Manchester to go public has revealed plans to double the number of staff and expand further across the UK. Chris Hill established Northcoders in 2015 after previously working at the likes of Sky, Zen Exchange and CrowdMission. His business floated on the …
Business
Business Live
Record number of social enterprises formed during the pandemic
A record number of social enterprises were formed during the pandemic as budding entrepreneurs seek to improve their communities – with the North seeing some of the strongest organisations formed. A new report from Social Enterprise UK and Barclays – No Going Back: State of Social Enterprise Report 2021 – reveals that a record-breaking 12,000 …
Business
Business Live
Gateshead modular building firm wins £5.8m contract for regeneration scheme
A Gateshead firm has won a £5.8m contract to deliver an innovative regeneration scheme using modular building techniques. Acrol Modular hopes to create around 10 jobs in the scheme, which will see it work with Cheltenham Borough Council, Workshop and a group of local entrepreneurs in the Gloucestershire town on the Minster Exchange scheme, which …

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