Meldrum Construction has made a significant leap by becoming an Employee Owned Trust (EOT).This shift enables all employees to possess a stake in the company’s future, enhancing collaboration and productivity.The decision aligns with a trend of increasing interest in employee ownership across the UK.Despite industry challenges, Meldrum has reported strong financials, including record profits and rising turnover.Dave Meldrum, the company’s founder, remains CEO, ensuring continuity in leadership and strategy.North East construction company Meldrum Construction Services Group has transitioned to an Employee Owned Trust (EOT) status, marking a pivotal change in its corporate structure. The company, based in Dunston, is the…
Author: Dave Antrobus
Amid reduced business travel, London City Airport receives £130m to ease debt pressures.Canadian pension funds and Kuwait’s Wren House contribute to financial support, strengthening cash reserves.The airport struggles with lower passenger numbers compared to pre-Covid-19 levels.Government restrictions hamper efforts to increase weekend flight services despite higher passenger caps.This funding is a strategic move to support refinancing of loans due in March 2026.Amid declining business travel, London City Airport has secured a £130 million cash injection aimed at alleviating debt pressures. This financial boost comes as the airport strives to recover passenger numbers that still lag behind pre-Covid-19 figures. The capital…
London City Airport receives a financial boost of £130 million through contributions from Canadian pension funds and Kuwait’s Wren House.As the airport contends with an ongoing decline in business travel following the pandemic, it strives to stabilise financially.Passenger numbers remain below pre-Covid levels, creating challenges for the airport’s recovery and future growth.Government restrictions hamper efforts to expand services, despite an increased passenger cap.The airport remains financially viable with support from long-term shareholders, yet challenges persist.The injection of £130 million into London City Airport by a consortium of Canadian pension funds and Kuwait’s Wren House comes as a strategic move to…
Uniqlo’s White City Westfield outlet has undergone a significant transformation, promising a new retail experience.The store’s remodel and expansion over a 10-month period have introduced a broader range of Uniqlo’s LifeWear across two floors.A special feature of the store is a play area designed for children and families, enhancing the shopping atmosphere.In collaboration with the Crisis charity, Uniqlo has launched a Mr. Men Little Miss collection to support homelessness awareness.Customers can exclusively purchase a limited range of t-shirts featuring new characters at the White City location.Uniqlo has celebrated the reopening of its refurbished White City Westfield store, a project that…
The UK fintech sector is standing at a crossroads, increasingly opting for consolidation as IPO opportunities decline and funding becomes scarce.The rise in interest rates has exacerbated the financial constraints on the sector, with many firms finding M&A more viable than public listings.Major fintechs like TrueLayer face reduced valuations and are forced to restructure to enhance profitability amid tight funding conditions.Fintech giants eye mergers and acquisitions to expand their reach, with defensive acquisitions seen as a strategy to maintain market dominance.Despite efforts to revitalise London’s IPO market, fintechs remain wary of the public route due to poor valuations and intense…
In a concerning turn of events, the Payments System Regulator (PSR) has reduced the reimbursement limit for Authorised Push Payment (APP) fraud, potentially weakening banks’ fraud prevention efforts.The original limit encouraged banks to invest in fraud detection; its reduction could diminish their motivation.Victims of high-value scams may now face significant financial losses without adequate reimbursement.The reduction coincides with a rise in reported fraud cases, highlighting a troubling trend.Banks are urged to adopt advanced technologies to counteract potential fraud increases.In a recent and controversial decision, the Payments System Regulator (PSR) has decided to lower the reimbursement cap for Authorised Push Payment…
The UK is poised for a significant economic shift as inflation is expected to drop below the Bank of England’s 2% target for the first time in over three years.Official figures indicate a decline in consumer price inflation, driven by falling energy prices and resolved supply chain issues post-pandemic.Economists suggest a potential drop to 1.7%, which could prompt the Bank of England to consider interest rate cuts.Despite recent GDP growth, the economy remains sluggish, necessitating potential policy shifts.Future inflation may rise again due to upcoming policy changes and global market pressures.UK inflation is poised to dip below the Bank of…
Shein’s recent sales boom positions it ahead of Boohoo in the UK’s fast fashion market.In 2023, Shein reported over £1.5bn in UK sales, surpassing Boohoo’s £1.4bn.Boohoo’s profits have plummeted while Shein’s are on the rise.The dynamics in the fast fashion sector show a potential shift, with Shein eyeing further growth.Ethical concerns continue to plague Shein’s fast fashion model.In the dynamic world of UK fast fashion, Shein has recently outperformed Boohoo, marking a significant milestone. In 2023, Shein’s UK sales skyrocketed to over £1.5 billion, overshadowing Boohoo’s £1.4 billion, marking the first instance of Shein overtaking Boohoo in sales. This achievement…
In a significant financial move, Qatar Investment Authority (QIA), the largest investor in Sainsbury’s, has reduced its stake in the supermarket giant.The QIA sold £305 million worth of shares, equating to approximately $400 million, impacting Sainsbury’s market position adversely. This transaction saw the sale of one third of QIA’s 14.2% holding, translating to 109 million shares at a price of £2.80 each, as reported by Goldman Sachs. This large-scale divestment comes after QIA’s initial investment in the grocer back in 2007.The repercussions of this sale were immediately felt, as Sainsbury’s shares experienced a notable drop, plummeting by 6.2% following the…
Purple Story partners with Roland Dransfield to boost its profile in Greater Manchester.The collaboration focuses on growth and overcoming cultural barriers in business.Purple Story, a consultancy, aims to leverage Dransfield’s 28 years in PR and marketing.Key clients of Purple Story include JW Lees, Flight Club, and Bella Italia.Roland Dransfield views the partnership as transformative for HR and hospitality sectors.Purple Story, a consultancy specialising in people management and performance, has engaged the services of Roland Dransfield to enhance its regional presence in Greater Manchester. The decision marks a strategic shift for Purple Story, which has mainly operated on a national level,…