Author: Scott Dylan

The UK government has declined to disclose the estimated costs associated with the proposed Sizewell C nuclear plant.The Department for Energy denied a Freedom of Information request concerning the project’s financial details, raising questions about transparency.The Sizewell C nuclear project in Suffolk is spearheaded by EDF, a French-owned energy company. The undertaking, anticipated to mirror the Hinkley Point C plant, faces scrutiny due to financial ambiguity.Reports indicate the project’s costs may exceed £20 billion, potentially reaching over £30 billion as the government remains reticent on exact figures.The Department for Energy maintains that disclosing the project’s cost details could jeopardise ongoing…

Clays is extending its innovative digital shooting venue to Birmingham’s Piccadilly Arcade.The new site marks Clays’ first venture outside London, promising a unique entertainment experience.Introduction of Clays to BirminghamA landmark in Birmingham city centre, Piccadilly Arcade, will soon host an exciting addition to its retail landscape. Clays, an innovative leisure brand, has confirmed its plans to open a digital shooting venue, enhancing its portfolio beyond London. This location on New Street, previously occupied by an outdoor retailer, is set to transform into a vibrant hub of digital entertainment.The 25-year lease agreement allows Clays to bring their unique blend of virtual…

Luxury giant Salvatore Ferragamo faces a steep 41% drop in operating profit in 2024.Revenue plummets due to a 23.1% decrease in the wholesale sector.Direct-to-consumer sales revenue declines by 8.1% during this period.The Asia Pacific region experiences a significant 17% fall in market sales.CEO Marco Gobbetti outlines strategic adjustments to tackle the market slowdown.The Italian luxury brand Salvatore Ferragamo has reported a considerable decline in its operating profit, showing a 41% year-on-year decrease for the first half of fiscal 2024. This decline represents a drop from €47m (£40m) in 2023 to €28m (£24m) in 2024. The company’s revenue also experienced a…

Aston Martin has announced the successful acquisition of £135 million through a private debt placement, aiming to bolster its production capacities. This financial manoeuvre is set to aid the luxury car manufacturer’s ambitious transformation plan.Strategic Financial MoveThe iconic British carmaker, Aston Martin, has secured significant new funding of £135 million through senior secured notes. These notes are divided into £70.7 million in 10 per cent notes and an additional £65 million in 10.4 per cent notes, both maturing in 2029. This strategic financial move is intended to stabilise Aston Martin’s financial standing.Intended Use of FundsNet proceeds from this funding will…

Plans for transforming Conwy Civic Hall into a food hall and aparthotel have been approved, promising increased local foot traffic.The redevelopment aims to revitalise this historic building, contributing to Conwy’s growing reputation as a vibrant and affluent area.Councillors have given the green light to plans for transforming Conwy’s historic Civic Hall. The approved project, spearheaded by Nautical Point Limited, involves converting the former library into a dual-purpose venue with a food hall and aparthotel. This strategic development aims to revitalise the grade-two listed building, set on Castle Street, and stimulate local business growth through increased footfall.Bertola emphasised the development as…

AXA, the renowned French insurer, has announced striking financial results for the first half of 2024. It reported a substantial revenue of £50.8 billion. The group is also making a strategic exit from the asset management sector through a significant deal with BNP Paribas.AXA’s underlying earnings rose from €4.1 billion (£3.5 billion) in H1 2023 to €4.2 billion (£3.6 billion) in H1 2024. This improvement underscores the company’s robust performance, supported by a 7% increase in gross written premiums and other revenues.The insurer has entered exclusive talks to sell AXA Investment Managers to BNP Paribas for €5.1 billion (£4.3 billion).…

SkinBioTherapeutics has raised £1.56 million in investment from prominent backers. This development underscores the company’s burgeoning influence within the skin health sector.The Newcastle-based firm secured funding amid reporting sales growth and possessing sufficient cash reserves. The investment aligns with their strategic goals, including launching new products and strengthening their market position.SkinBioTherapeutics, a leader in skincare innovation, has secured £1.56 million from investors Premier Miton and Cynosure Capital Pty Ltd. The funding was achieved through the placement of nearly 14.9 million shares at a rate of 10.5 pence each. This financial backing highlights the confidence investors have in the company, particularly…

New Motion Labs, an Exeter-based technology company, has successfully secured nearly £900,000 in funding. This substantial investment aims to drive job creation and support the firm’s expansion.New Motion Labs has entered into an equity investment agreement with the South West Investment Fund, facilitated by the FSE Group. This influx of capital is a component of a larger £1.8m funding round, strategically allocated to bolster the company’s development in product innovation and marketing.Renowned for its advancements in drivetrain technology, New Motion Labs has already charted success in the track cycling and e-bike sectors, including notable innovations in cargo and shared e-bikes.The…

John Lewis is set to undergo significant changes in its buying and merchandising teams as part of its transformation programme led by Peter Ruis.The retailer plans to create 48 new roles while consulting on the future of 20 existing positions.The restructuring aims to enhance product offerings and provide clearer career progression for Partners.John Lewis intends to reintroduce individual leadership roles in the fashion and home departments.Investments in new brands and efforts to improve profit margins are central to this transformation.John Lewis, a prominent UK retailer, is taking strategic steps to revamp its buying and merchandising departments as part of a…

Bristol Temple Meads station, a historic transport hub, has experienced a remarkable surge in retail sales. Recent data indicates a strong revival in economic activity at the station, showcasing a significant increase in consumer spending. Retailers at this iconic location are enjoying a boom, benefiting both the local economy and the travelling public.Retail sales at Bristol Temple Meads station have shown impressive growth in the last quarter of the fiscal year. According to Network Rail Property, like-for-like sales surged by 30.4%, marking a substantial recovery. The station hosts a diverse range of retail outlets, including WHSmith, Starbucks, and The Pasty…