Author: Scott Dylan

The Treasury’s bank referral scheme is criticised for its limited success in facilitating loans for small businesses.Originally, nine banks were to refer declined loan applicants to alternative financiers, but the results are disappointing.The scheme launched in 2016, but has only facilitated 5,387 deals, a small part of the £4 billion quarterly SME lending total.Critics highlight the Treasury’s failure to address a £22 billion funding shortfall for small businesses.The Treasury admits that businesses’ financial profiles are often inadequate, affecting the success of this initiative.In 2016, the Treasury initiated a bank referral scheme aimed at assisting small businesses denied loans by major…

Unite union has raised significant concerns over cuts to winter fuel payments, a decision affecting millions as colder months approach. Legal action is on the table as the union seeks to challenge these reductions.The contentious policy was initially revealed in July amid widespread financial challenges.Critics, including Unite’s Sharon Graham, describe the cuts as unfair; impacting as many as ten million pensioners.Legal proceedings may target the government’s lack of impact assessment for the vulnerable pensioners affected.The Scottish couple’s parallel legal battle highlights the broad opposition across the UK.The recent decision to cut winter fuel payments, initially announced in July and solidified…

Birmingham’s city centre sees a substantial transformation as office buildings undergo significant renovation.The office buildings, 2 Colmore Square and Cannon House, are being updated to form a new destination named ‘Multistory’.This renovation includes an impressive 75,000 sq ft of new grade A office space and 15,000 sq ft of amenity spaces.Tenants and visitors can enjoy amenities like co-working areas, meeting rooms, and a community bar.The revamped buildings promise modern facilities with electric vehicle charging and substantial bike storage.Birmingham city centre is witnessing a significant transformation with the renovation of two iconic office buildings, 2 Colmore Square and Cannon House, into…

Sir James Dyson has voiced strong opposition to proposed changes in inheritance tax.Changes include a 20% tax on family businesses and farms valued over £1 million.Dyson claims the tax threatens entrepreneurship and the foundation of the British economy.Home Secretary supports changes to address public finances and support essential services.Concern grows among farmers over the potential impact on UK food security.Sir James Dyson has openly criticised the government’s proposed inheritance tax reforms, particularly targeting family-owned businesses and farms valued at over £1 million. These changes, set to take effect in April 2026, will impose a 20% tax on such entities. Dyson…

As the festive season approaches, UK high street retailers are bracing for challenging times due to recent economic pressures.October sales showed minimal growth, alarming experts about the upcoming holiday period.The new budget introduces a significant tax increase, adding to the retailers’ financial burdens.Rising wages are expected to further strain businesses, impacting their operational costs.Many retailers may have to reconsider their business strategies to survive the festive season.A recent analysis by advisory firm BDO reveals that in-store sales for October increased by merely 1.7% compared to last year, underscoring the difficulties faced by retailers even before the latest budget announcement. The…

Americo Lemos’s unexpected exit as CEO of IQE has caused a significant impact on the company’s share price.Lemos, who joined IQE in January 2022, left his position immediately, prompting a search for a new leader.Jutta Meier has stepped in as interim CEO while retaining her role as CFO, after joining from Intel earlier this year.The company’s share price dropped nearly 20%, signalling market concerns over leadership changes.The board’s swift decision suggests a strategic move towards cost optimisation and asset management.In a sudden development, Americo Lemos has departed from his role as CEO of IQE, a prominent player in Wales’ tech…

Electric car manufacturers in the UK have reduced prices significantly to meet government zero-emission targets, boosting sales.New car registrations have decreased year-over-year, with a decline in petrol and diesel vehicles as electric car sales rise.Electric model prices are approximately 12% lower than last year, as manufacturers aim to clear stock and encourage adoption.Tesla’s sales have dropped, while brands like BMW, Mercedes-Benz, and Audi are making gains in the electric vehicle market.The UK’s strong positioning in the European zero-emission market is fuelled by competitive pricing and upcoming stringent mandates.Electric vehicle manufacturers in the UK are aggressively cutting prices to meet stringent…

Llusern Scientific, a spinout from the University of South Wales, secures substantial equity investment.The Development Bank of Wales supports Llusern Scientific’s commercialisation efforts.Llusern’s rapid diagnostic test for UTIs aims to address antibiotic resistance.Funding aids the development of Llusern’s innovative diagnostic tool, Lodestar DX.University spinouts like Llusern play a crucial role in advancing health sciences and technology.Llusern Scientific, a pioneering life sciences firm originating from the University of South Wales, has recently secured a notable six-figure equity investment. This financial support originates from the Development Bank of Wales and is aimed at accelerating the company’s efforts to bring their advanced diagnostic…

In a bid to counter declining sales, Asda has mandated its head office employees to return to the office at least three days a week while also announcing impending job cuts.Asda has announced a significant shift in its working policy by requiring its more than 5,000 head office staff to return to the office for a minimum of three days a week starting January 2025. This decision, communicated via an internal email, comes from Asda chairman and interim chief executive, Lord Rose, and affects its offices in Leeds and Leicester.The move is part of a broader plan to arrest a…

Enabling works have commenced for the University of Warwick’s £700 million campus redevelopment.O’Brien Contractors spearhead the infrastructure works for a new science and engineering facility.The facility will host the university’s chemistry, physics, and engineering departments.A new road junction, utility provisions, and drainage system are included in the project.The redevelopment focuses on significant improvements in STEM education and research environments.Enabling works marking the start of a substantial £700 million redevelopment at the University of Warwick have begun. O’Brien Contractors are leading the initial phase of this ambitious project, focusing on constructing the infrastructure that will support a new science and engineering…