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Recruitment begins for new South Yorkshire smart factory where 300 jobs are being created
Manufacturer Lontra has launched its first phase of a recruitment drive for the 300 employees it aims to welcome to a new £17m smart factory at Doncaster Sheffield Airport. The Midlands company develops, manufactures and exports high value industrial machinery for critical sectors, and the new base will create products for world-wide food manufacture, pharmaceutical …
Business
Business Live
Cineworld bankruptcy reports see cinema chain’s shares plummet
Cineworld shares have plummeted after reports the cinema chain is preparing to file for bankruptcy “within weeks”. Shares dived by two-thirds within minutes of reports by the Wall Street Journal that the world’s second-biggest cinema business has hired lawyers from Kirkland & Ellis and consultants from AlixPartners to advise the bankruptcy process. Cineworld has so …
Business
Sky News
Cineworld preparing to file for bankruptcy – report
Cineworld, the world’s second-largest cinema chain, is preparing to file for bankruptcy within weeks, the Wall Street Journal reports, after struggling to rebuild attendance following the COVID pandemic.The UK-based group, which operates in 10 countries with 751 sites and more than 9,000 screens, has engaged lawyers from Kirkland & Ellis LLP and consultants from AlixPartners …
Business
Sky News
Inflation fuels 63% hike in UK debt costs as borrowing outstrips forecasts
Soaring inflation has seen interest payments on government debt leap by 63% over the past year, official data reveals.Figures published by the Office for National Statistics (ONS) also showed the UK borrowed more than expected in July as public spending outstripped taxes and other income. Government borrowing hit £4.9bn in July, according to the ONS, …
Business
Business Live
Plans for green energy ‘multiplex’ at Melton gain momentum as Transwaste’s third decade dawns
A household recycling firm launched in Hull 20 years ago, is gearing up for a major third decade as it prepares to invest significantly in major green projects. Transwaste was founded by brothers Paul and Mark Hornshaw as a skip hire firm in 2002, hand-sorting waste on the docks. Now the £29 million turnover business …
Business
Business Live
Airbus and BAE Systems supplier bought by Italian aerospace group
A Gloucestershire manufacturing group that supplies components to aerospace and defence giants such as Airbus and BAE Systems has been acquired by an Italian multinational. Five Valleys Aerospace – a holding company of two businesses Nu-Pro and Stanmar – has been bought by Magnaghi Aeronautica Group (MA Group) for an undisclosed sum. Stroud-based Nu-Pro provides …
Business
Evening Standard
Just Eat owner to sell stake in iFood for £1.5bn
Just Eat Takeaway.com has announced the sale of its one-third stake in Brazilian food delivery company iFood for 1.8 billion euros (£1.5 billion), sending its shares climbing.The takeaway giant will hand over its stake to Dutch investment company Prosus.It is trying to improve profitability and pay off debts after recently reporting heavy half-year losses.The agreement …
Business
Business Live
Newtownabbey metal packaging facility set to create around 200 new jobs
A new £150m drinks canning plant is set to create around 200 jobs on the outskirts of Belfast. It comes after Antrim and Newtownabbey Borough Council’s planning committee approved one of the biggest investments in advanced manufacturing in Northern Ireland. Ardagh Metal Packaging (AMP) intends to build the innovative 42,585 square meter facility at Invest …
Business
Sky News
P&O Ferries given ultimatum as firm’s owner posts record profit
P&O Ferries will have “no choice in law” but to pay crew members minimum wage the transport secretary has warned after the firm’s owner reported record profits following a controversial mass sacking.Issuing the ultimatum, Grant Shapps said the company will be forced to back down and so should make the change now. He also repeated …
Business
Business Live
Somerset and Devon digital schemes land £2m cash boost
A pair of programmes providing digital skills and business support in Somerset, Devon, Plymouth and Torbay have received a £2m cash injection from the Heart of the South West LEP. The Digital Skills Programme will be delivered through Devon County Council, while the Digital Skills Utilisation Programme will be delivered by the local authority and …
Business
Evening Standard
City watchdog warns buy-now-pay-later firms to follow rules on social media promotions
T he City’s main financial watchdog has warned firms offering buy-now-pay-later services that they could be committing criminal offences if their promotions don’t include “fair and prominent warnings” of the risks the products pose to customers.The Financial Conduct Authority says it has seen adverts on social media and websites — including posts by “social media …
Business
Business Live
Triodos Bank sees fall in profits amid ‘challenging’ economic climate
Ethical bank Triodos has reported a drop in profits for the first half of the year amid “challenging” geopolitical and economic conditions. The European bank, which has its UK headquarters in Bristol, said net profit fell to €18.8m (£15.9m) after tax for the first six months of 2022 – down from €27.7m in the same …

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