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Cardiff energy tech firm secures contract with English housing association to decarbonise 1,000 homes
Cardiff-based energy tech firm Sero Technologies has secured a contract with one of England’s largest housing associations to decarbonise 1,000 properties. Sero has secured a contract to work with Sovereign, which is headquartered in Basingstoke, for the energy retrofitting of 1,000 homes across the South of England after the housing association was awarded £9.4m from …
Business
Business Live
Virgin Orbit cuts 675 jobs as it races to avoid collapse – report
Virgin Orbit is set to cut 675 jobs – about 85% of its workforce – after failing to secure new funding. Sir Richard Branson’s US satellite launch firm is racing to seal last-minute investment to stop the firm from collapsing, according to a Financial Times report. The entrepreneur is set to inject almost £9m to …
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Business Live
New Jet Zero proposals welcomed by team behind Humber’s sustainable aviation fuel refinery
The technology company behind a planned jet fuel refinery on the South Humber Bank has welcomed government proposals on supporting and financing the development of the industry. Velocys chief executive Henrik Wareborn said a consultation paper issued as part of a raft of environmental and energy measures on a Westminster day of action will help …
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Business Live
Councils vote in favour of East Midlands Devolution – now it’s up to Government to say yes
The four councils going for devolution in the East Midlands have formally voted in favour of the plans. Nottingham City Council, Derby City Council, Derbyshire County Council, Nottinghamshire County Council have agreed to proceed with the plans which they say could bring in benefits worth more than £1.14 billion. The councils have now agreed on …
Business
Sky News
UK house prices suffer biggest annual decline since 2009
House prices fell by 3.1% year-on-year in March, marking the biggest annual decline since July 2009, Nationwide Building Society said.The figures also showed a monthly price fall of 0.8% – the seventh consecutive fall – which leaves prices 4.6% below their August peak. The average UK house price in March was £257,122.Robert Gardner, Nationwide’s chief …
Business
Sky News
UK economy grew slightly and avoided recession, revised official figures confirm
Revised figures have confirmed that the UK economy avoided recession in the second half of last year, posting 0.1% growth in the fourth quarter.The original estimate for gross domestic product (GDP) between October and November, released in mid-February, had shown zero growth. A recession is generally defined in the UK as two consecutive quarters of …
Business
Business Live
Drax to enter talks over bioenergy carbon capture delivery imminently as deployment commitment made
Drax is to enter formal discussions with the government to take forward its huge £2 billion Bioenergy with Carbon Capture and Storage project. Energy Security and Net Zero Secretary Grant Shapps has today confirmed its commitment to support deployment by 2030. The plan for the huge power station in the Humber hinterland – a driving …
Business
Business Live
New consultancy launched by Birmingham agencies
Two Birmingham creative agencies have joined forces to launch a new venture aimed at supporting companies going through transformation or change. Spottydog Communications and Big Cat have together created Leopard Co. which will focus on marketing communications consultancy, helping clients with issues caused by change such as mergers, acquisitions, investment and transformation. It is already …
Business
Business Live
South West-based company Silvey Fleet expands into Ireland
Successful South West-based fleet management company, Silvey Fleet has announced its expansion into Ireland. The family-run business, which is headquartered in Bristol, has evolved over time in response to changes in the market. It now specialises in vehicle fleet management solutions and is one of the UK’s most established reseller of fuel cards. Silvey Fleet …
Business
Business Live
Humber set to miss out on chance to lead UK’s carbon capture and storage push after Track One no-show
The Humber’s hopes to be the carbon capture trailblazer for the UK appear to have hit the rocks after no projects were selected to enter into the latest phase of negotiations. A £20 billion Spring Budget pledge had injected further fizz into the sector, with several huge emission-abating schemes for heavy industry aligned with the …
Business
Evening Standard
LV= sees retirement profit halve as insurer ‘not immune’ to economic woes
Mutual life insurer LV= has admitted it is “not immune” to economic challenges after revealing profits from it savings and retirement division halved over 2022 and it sunk deeper into a loss.The insurance and retirement specialist said it made a loss before tax and before member bonuses of £265 million last year, compared with a …
Business
Evening Standard
Time Out’s failed London market plans cost £1 million
Media and food business Time Out said its failed plans to build a food market in Spitalfields cost £1 million.The media business – which operates markets in Lisbon, Miami, New York, Boston, Chicago, Montreal and Dubai – had planned to create a venue with 12 permanent kitchens on Commercial Street in Spitalfields.But following a six-year-long …

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