Author: Scott Dylan

Somerset Council has announced major repair works for a crucial road leading to Hinkley Point C nuclear power station. The works are set to occur over three phases and last more than a month.Residents and businesses will experience overnight road closures, but access will be maintained throughout the repair period. The project underscores the importance of maintaining essential infrastructure in support of significant construction activities.Initial Phase of RepairsA major road into the Hinkley Point C nuclear power station will be closed overnight for more than a month as Somerset Council carries out ‘vital’ repair works. The phased work will take…

Ocado Retail, in partnership with M&S, has reported a significant surge in sales during the first three quarters of the year.The online grocery’s sales increased by 15.5% to £658m for the period ending 1 September.Weekly average orders rose by 14.7%, driven by a 10.3% increase in active customers.This positive momentum has led Ocado to revise its annual sales growth forecast to a low double-digit figure.Customers benefit from a wider choice of products, enhanced convenience, and improved value, according to Ocado’s strategy.Ocado Retail, the joint venture with M&S, has demonstrated robust performance in its first three quarters this year, prompting a…

Hull and East Yorkshire are set to elect a mayor next year following a historic devolution deal. The agreement will grant the new leader control over crucial areas such as transport, housing, skills, and investment.Subject to parliamentary approval and local consent, this deal aims to bring the region in line with other parts of the country, empowering a local leader to drive economic growth and development.New Mayoral PowersHull and East Yorkshire are set to elect a new mayor following the recent devolution deal. This mayor will oversee critical areas such as transport, housing, skills, and investment. These powers are expected…

KR1 has experienced a significant valuation drop in its portfolio due to market consolidation.The firm’s asset value fell from £196m to £146m since the start of the year.Bitcoin’s price retreat from its peak has impacted the overall crypto markets.Investment in Celestia initially boosted the portfolio but its coin value halved.KR1 expresses concerns about regulatory barriers in the UK’s crypto market.KR1, a digital asset investment firm based in the Isle of Man, has reported a substantial decline in its portfolio value, with as much as £50m being wiped out since the beginning of the year. This comes amid a broader ‘period…

Next has once again raised its yearly profit forecast, moving closer to achieving a £1bn profit.A £15m addition to the annual forecast raises it to £995m, an 8.4% increase from last year.First-half pre-tax profits showed a 7.1% increase, reaching £453m by July.Total group sales jumped 8% to £2.9bn, with full-price sales also seeing growth.The overseas online segment was particularly strong, increasing by 22.8% to £433m.Next has revised its annual profit expectations upward for the second time in two months, indicating a strong financial outlook. The high street retailer adjusted its forecast by adding £15 million, bringing it to £995 million,…

The Bank of England is anticipated to maintain interest rates at 5%, following a clear indication that reductions will not be made hastily. Economists predict that the Monetary Policy Committee (MPC) will sustain the current rate, impacting borrowing and saving costs across the UK.The Bank of England has signalled its intent to keep the interest rate steady at 5%, a level last seen in 2008 during the global financial crisis. This decision comes after a recent rate cut from 5.25% in August, which marked the first reduction since 2020, easing the burden on borrowers.Governor Andrew Bailey emphasised the importance of…

UK chipmaker EnSilica has embarked on a strategic partnership with Taiwan’s leading semiconductor company.The collaboration aims to boost the development of advanced AI and mobile applications through improved silicon success.EnSilica joins the TSMC Design Center Alliance to enhance its system-on-chip designs.This alliance is part of EnSilica’s strategic expansion after securing a key contract with Siemens AG.EnSilica’s financials show increased revenues despite slight pre-tax losses.UK chipmaker EnSilica has made a significant move by entering into a strategic partnership with Taiwan’s largest semiconductor enterprise. This collaboration is expected to accelerate the development of advanced technology, particularly in the realms of AI and…

Asda experiences a leadership shift with Mohsin Issa stepping back and Stuart Rose taking the helm.Rose, a seasoned retail veteran, aims to stabilise and focus the supermarket’s strategies.The market share of Asda has seen a decline, raising concerns about its future direction.Stakeholders have mixed opinions on whether Rose is the long-term solution.The search for a permanent CEO continues amidst ongoing challenges.In a strategic move, Asda co-owner Mohsin Issa has stepped back from his executive role, paving the way for Stuart Rose to assume leadership, supported by Rob Hattrell, a former eBay Europe executive. This transition comes after Rose expressed his…

Donald Trump’s persistent focus on unfounded election fraud claims threatens the stability of the Republican Party and might impact their majority in the House.Republican House Speaker Mike Johnson failed to pass a funding extension, influenced by Trump’s voter restriction demands.The Senate Democrats’ opposition ensures that the bill has no chance of becoming law, leaving the GOP in a precarious position.Historical precedents suggest the party controlling the House often faces the political fallout from a government shutdown.Key Republican lawmakers, especially those in competitive districts, express concerns over the potential electoral repercussions.Donald Trump’s obsession with election fraud, which lacks substantial evidence, poses…

Liverpool City Council has started work on Paddington South, the next stage of the £1bn Knowledge Quarter project.This initiative is part of the broader Paddington Village development, aimed at enhancing the city’s research and innovation sectors.Liverpool City Council has marked the start of a significant phase in the city’s ambitious £1bn Knowledge Quarter expansion by commencing work on the Paddington South development. This new phase aims to create a vibrant neighbourhood and further bolster the city’s growing research, development, and innovation sectors.The new green space is designed to offer a welcoming environment for residents and visitors, promoting well-being and ecological…