Author: Scott Dylan

UK shop prices fell at the quickest rate in over three years this September, as per the British Retail Consortium (BRC).Overall shop price deflation hit 0.6% in September, the fastest drop since August 2021, with non-food items showing significant deflation.Non-food deflation rose to 2.1%, as discounts on clothing and furniture increased due to low demand from unseasonal weather and tight household budgets.Fresh food inflation rose to 1.5% affected by adverse weather impacting British produce and import delays.Retailers continue to strategise with promotions to stimulate consumer demand amid easing price inflation.In September, the British Retail Consortium (BRC) reported that UK shop…

The Welsh Government has yet to commit funding for the £100m Cardiff Crossrail project, despite ongoing discussions and consultations.This delay in decision-making raises concerns about the financial feasibility and timely completion of the ambitious public transport scheme.Cardiff Crossrail Development PlansThe Welsh Government has yet to confirm a match funding contribution for the initial £100m phase of the Cardiff Crossrail project. Cardiff Council recently started a public consultation for this scheme, developed in partnership with Transport for Wales (TfW), which proposes a new tram network running from Cardiff Central Train Station to Cardiff Bay. This project represents the preliminary step in…

GeoPura has successfully raised £22 million in debt funding to expand its hydrogen power initiatives. This marks a significant step in their mission to produce zero-emission electricity.The funding will accelerate the production of Hydrogen Power Units (HPUs) and support essential infrastructure, contributing to the UK’s net-zero targets.Significant Funding AchievementGeoPura has secured £22 million in debt funding to scale its hydrogen power operations. This funding is essential for expanding the production of Hydrogen Power Units (HPUs), which generate zero-emission electricity using green hydrogen.Located at Siemens Energy in Newcastle, GeoPura collaborates with Siemens to manufacture these HPUs. This partnership aims to meet…

The company has reported a strong rise in profits, even though it has faced a notable decline in customer numbers.The latest financial results reveal these mixed outcomes, following strategic changes and market dynamics.Financial Performance and Customer BaseIn its latest financial results ending 31 March 2024, the company reports a 29% decrease in its customer base. This significant drop follows the closure of its mobile division and the discontinuation of a partnered broadband service, contributing to reduced customer numbers.Despite this, the impact on revenue has been softened by annual contractual price increases, resulting in only a 5% decline in turnover from…

A groundbreaking 5G Immersive Lab has been inaugurated in Newcastle, signalling a major step forward for technological innovation in the region.Science Minister Chris Bryant officiated the launch at Eldon Square, highlighting the government’s commitment to fostering business growth through advanced technology.Minister Inaugurates Advanced 5G FacilityA state-of-the-art facility designed to aid businesses in integrating 5G technology has been officially launched. The inauguration was held at Eldon Square in Newcastle, with Science Minister Chris Bryant officiating the event. This new space aims to promote innovation among small and medium-sized enterprises by providing access to cutting-edge technology and expert support.Focus on Traditional IndustriesParticular…

The United States is closely monitoring indications that Iran may be preparing to launch a ballistic missile attack targeting Israel.US officials have asserted their commitment to supporting Israel’s defensive measures in light of the perceived threat.US Observations and SupportThe White House announced that it believes Iran is poised to imminently launch a ballistic missile attack against Israel. A senior White House official emphasised, “The United States has indications that Iran is preparing to imminently launch a ballistic missile attack against Israel.” The US is actively aiding Israel in its defensive preparations.A US official drew parallels to a similar incident in…

In a significant move within the marine insurance sector, a notable Manchester-based fintech firm has acquired a longstanding city insurer.The acquisition underscores the firm’s strategic intent to solidify its position as a leader in the non-commercial marine insurance market.The Manchester fintech firm has finalised the acquisition of GJW Direct, a renowned marine insurer rooted in history since 1826. This acquisition represents the firm’s second major transaction in the last year, further solidifying its position in the sector.This deal, part of a larger strategic vision, is set to close in the first half of 2025, pending regulatory approval.The appointment of Alan…

Gousto has appointed Murray Lambell as their new Chief Customer Officer to strengthen its market position.Murray Lambell brings a wealth of experience from eBay, where he held multiple strategic roles since 2008.In his new role, Lambell will oversee key areas including brand, sustainability, and customer care.Sally Matthews transitions to Chief Strategy Officer following Lambell’s appointment.Timo Boldt, Gousto CEO, cites Lambell’s passion and customer focus as key to future growth.Gousto has strategically appointed Murray Lambell as its new Chief Customer Officer. Lambell, a seasoned professional from eBay, is expected to bolster the firm’s position within the mainstream dinner market. His extensive…

Miniso is launching its inaugural Miniso-Go store in Paddington, London, marking its ninth store in the city.The 400-square-foot store will feature a variety of affordable products, focusing on travel necessities.Miniso-Go aims to serve both travellers and commuters with items like travel mugs and neck pillows.The store will carry themed products from popular franchises including Sanrio, Disney, and Minions.This opening represents a significant milestone in Miniso’s UK expansion strategy.Miniso is set to open its first-ever Miniso-Go store in Paddington, London. This new location reflects Miniso’s ongoing expansion efforts within the UK, marking it as the ninth store in London alone.The new…

Authentic Brands Group, a prominent entity in the brand acquisition market, has completed the $1.2 billion acquisition of Champion, a renowned sportswear brand.Initially announced in June, this acquisition transitions ownership from HanesBrands, adding to Authentic Brands’ growing portfolio.Champion stands as a major revenue generator with close to $3 billion in global sales.Key operational partnerships have been established across the Americas to manage and expand Champion’s market presence.Plans are underway to further expand Champion’s reach into Europe, Asia, and Australia.Authentic Brands Group recently finalised a significant acquisition of the sportswear brand Champion for $1.2 billion (£899 million), strengthening its influence in…