The Business Magazine Newscast

These are the top stories making the headlines across The Business Magazine website today: Work starts on £16m plant to turn food waste into energy Eco Sustainable Solutions has commenced construction on a £15.6 million anaerobic digestion plant in Dorset, designed to convert over 50,000 tonnes of food waste annually into 60GWhs of biomethane, enough to power approximately 5,300 homes. Full story here: https://thebusinessmagazine.co.uk/companies/work-starts-on-16m-plant-to-turn-food-waste-into-energy/ UK watchdog CMA approves £16.5bn tie-up of Vodafone and Three The UK's Competition and Markets Authority (CMA) has approved the £16.5 billion merger of telecom giants Vodafone and Three, forming the nation's largest mobile network with 27 million customers after an 18-month analysis. Full story here: https://thebusinessmagazine.co.uk/companies/uk-watchdog-cma-approves-16-5bn-tie-up-of-vodafone-and-three/ Cash injection to boost Bristol firm's photonic chip design Bristol-based Light Trace Photonics has secured £600,000 in its first investment round, led by QantX Ventures, to advance its integrated photonic chip designs, following its recent induction into the SETsquared incubation programme. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/cash-injection-to-boost-bristol-firms-photonic-chip-design/

These are the top stories making the headlines across The Business Magazine website today: Octopus boosts Coventry investment with Two Friargate expansion Octopus Energy has expanded its footprint in Coventry, securing 55,000 sq ft of Grade A office space in Two Friargate, marking one of the most significant commercial deals in the Midlands in collaboration with Coventry City Council. Full story here: https://thebusinessmagazine.co.uk/property/octopus-boosts-coventry-investment-with-two-friargate-expansion/ Orbit Discovery and Evergreen Theragnostics expand research collaboration Orbit Discovery and Evergreen Theragnostics have announced an extension of their research collaboration, initially established in April 2023, to develop novel targeting peptides for radiopharmaceutical delivery. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/orbit-discovery-and-evergreen-theragnostics-expand-research-collaboration/ Planning permission granted for new facility at University of Southampton Science Park Planning permission has been granted for a new multi-million pound research and development facility at the University of Southampton Science Park, aiming to bolster the South Central region's laboratory capacity and support the UK's ambitions to be a global life science leader. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/planning-permission-granted-for-new-facility-at-university-of-southampton-science-park/

These are the top stories making the headlines across The Business Magazine website today: Bristol's Typhoo Tea goes into administration Bristol-based Typhoo Tea has entered administration amid deepening financial struggles, with losses ballooning to £38m and over 100 jobs at risk following declining sales and a factory break-in. Full story here: https://thebusinessmagazine.co.uk/companies/bristols-typhoo-tea-goes-into-administration/ Dorset’s MSP Capital appoints new commercial director Dorset-based property finance firm MSP Capital has appointed Adam Tovey as commercial director, marking his second promotion within two years, following his previous roles as valuation director and director of risk and underwriting. Full story here: https://thebusinessmagazine.co.uk/corporate-finance/dorsets-msp-capital-appoints-new-commercial-director/ Harwell's Open Cosmos signs €35m contract with ESA Open Cosmos has secured a €35 million contract with the European Space Agency to design, launch, and commission NanoMagSat, a three-satellite mission under the ESA Scout framework. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/harwells-open-cosmos-signs-e35m-contract-with-esa/

These are the top stories making the headlines across The Business Magazine website today: Tokamak Energy raises $125m to commercialise fusion and magnet tech Milton Park, Oxfordshire-based Tokamak Energy has secured $125 million from a funding round co-led by East X Ventures and Lingotto Investment Management, with investments from new participants like Furukawa Electric Company, to advance its fusion energy commercialization and high temperature superconducting technology solution, TE Magnetics. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/tokamak-energy-raises-125m-to-commercialise-fusion-and-magnet-tech/ Profits surge at Avon Technologies Avon Technologies saw a record-breaking year-end with a $225.2 million order book, marking a 64.3% increase driven largely by the success of Team Wendy's Next Generation Integrated Head Protection System and its second generation. Full story here: https://thebusinessmagazine.co.uk/corporate-finance/profits-surge-at-avon-technologies/ Southampton innovator wins major prizes A Southampton-based company has won prestigious awards and crucial seed money in a national competition for pAiback, an AI-powered travel assistant designed to save travelers substantial amounts by ensuring they never overpay for flights, even post-booking. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/southampton-innovator-wins-major-prizes/

These are the top stories making the headlines across The Business Magazine website today: Vapes and nicotine pouches drive revenue rise at Bristol's Imperial Brands Imperial Brands' share price surged as the Bristol-based tobacco giant reported a 4.6% revenue increase, driven by a 26% rise in its 'next generation' products, including heated tobacco, vapes, and nicotine pouches, bringing total revenues to over £32.4 billion. Full story here: https://thebusinessmagazine.co.uk/corporate-finance/vapes-and-nicotine-pouches-drive-revenue-rise-at-bristols-imperial-brands/ Tech to combat exploding batteries wins Hampshire firms prime slot on TV Three Hampshire firms, Barnbrook Systems, Flair, and TJ Waste and Recycling, will be featured on BBC’s The One Show to showcase their collaborative effort on the E:bag, a groundbreaking technology aimed at preventing lithium-ion battery explosions. Full story here: https://thebusinessmagazine.co.uk/companies/tech-to-combat-exploding-batteries-wins-hampshire-firms-prime-slot-on-tv/ MINI Convertible back on the production line at Cowley After a brief hiatus, production of the MINI Convertible has resumed at the Cowley plant, reestablishing manufacturing operations for this popular model. Full story here: https://thebusinessmagazine.co.uk/manufacturing-engineering/mini-convertible-back-on-the-production-line-at-cowley/

These are the top stories making the headlines across The Business Magazine website today: QinetiQ posts good first half performance as it extends share buyback QinetiQ, the Hampshire-based defence and security contractor, reported a strong operational and financial performance in its first half, reaffirming its full-year guidance and extending its share buyback program by £50 million to £150 million. Full story here: https://thebusinessmagazine.co.uk/companies/qinetiq-posts-good-first-half-performance-as-it-extends-share-buyback/ Alex Tatham joins CI Group as non-exec director Alex Tatham, former managing director at IT distributor Westcoast, has been named a non-executive director at UK marketing and events agency network CI Group, which is known for integrating AI into its marketing strategies. Full story here: https://thebusinessmagazine.co.uk/companies/alex-tatham-appointed-non-exec-director-at-ci-group/ West Midlands flagship business programmes set to receive fresh funding The West Midlands' Innovation Accelerator and Made Smarter programmes, which have significantly bolstered local SMEs by creating or upskilling nearly 5,000 jobs and attracting over £70 million in investment, are set to receive new government funding to continue supporting regional business growth, as announced by the West Midlands Combined Authority. Full story here: https://thebusinessmagazine.co.uk/companies/west-midlands-flagship-business-programmes-set-to-receive-fresh-funding/

These are the top stories making the headlines across The Business Magazine website today: Rise in profit warnings from South East listed companies Listed companies in the South East of the UK issued 25 profit warnings in Q3 2024, nearly double the 12 from Q2 and marking the highest quarterly total in two years, contributing to a national high of 84 warnings, according to the latest EY-Parthenon Profit Warnings Report. Full story here: https://thebusinessmagazine.co.uk/companies/rise-in-profit-warnings-from-south-east-listed-companies/ Shaw Gibbs merges with Langdowns DFK Shaw Gibbs, an accountancy and business advisory firm, has announced a merger with Langdowns DFK, a reputable practice with three offices in Hampshire, enhancing its expertise and client service capabilities. Full story here: https://thebusinessmagazine.co.uk/corporate-finance/shaw-gibbs-merges-with-langdowns-dfk/ Persimmon Homes to build more than 1,200 additional homes in West Midlands Persimmon Homes has secured planning approval to build over 1,200 additional homes across several sites in the West Midlands, including Lichfield, Kenilworth, Redditch, Sandwell, and Burton on Trent. Full story here: https://thebusinessmagazine.co.uk/companies/persimmon-homes-to-build-more-than-1200-additional-homes-in-west-midlands/

These are the top stories making the headlines across The Business Magazine website today: International Trade Week 2024 helps businesses to go global The Department for Business and Trade's fourth International Trade Week in 2024 offers UK businesses of all sizes free events, workshops, and webinars over five days to explore global opportunities and enhance international sales efforts. Full story here: https://thebusinessmagazine.co.uk/companies/international-trade-week-2024-helps-businesses-to-go-global/ Companies' green potential under the spotlight at Basingstoke conference The Basingstoke conference, Unlocking Hampshire’s Green Potential 2024, convened over 130 senior decision makers from various sectors to discuss sustainable practices for small companies. Full story here: https://thebusinessmagazine.co.uk/companies/companies-green-potential-under-the-spotlight-at-basingstoke-conference/ Survey shows rapid decline in permanent new hires in south A survey by KPMG and REC, compiled by S&P Global, reveals a continued 19-month decline in permanent new hires in the South of England for October, attributed to economic cooling and the forthcoming autumn Budget. Full story here: https://thebusinessmagazine.co.uk/companies/survey-shows-rapid-decline-in-permanent-new-hires-in-south/

These are the top stories making the headlines across The Business Magazine website today: South East sees spike in insolvency-related activity Insolvency-related activity in the South East has surged significantly from 173 cases in September to 293 in October, according to data from Creditsafe analysed by R3. Full story here: https://thebusinessmagazine.co.uk/companies/south-east-sees-spike-in-insolvency-related-activity/ Freeths advises on 70 deals ahead of Chancellor's Budget National law firm Freeths completed 70 corporate transactions for clients in October, averaging two deals per day, and finalized over 15 transactions on the eve of Chancellor Rachel Reeves' Budget statement. Full story here: https://thebusinessmagazine.co.uk/professional-services/freeths-advises-on-70-deals-ahead-of-chancellors-budget/ Warwick poised for £20m logistics unit after green light for Barberry Warwick's Tournament Fields Business Park will soon see the addition of a £20 million logistics unit after developer Barberry secured planning permission from the district council for the 92,246 square foot facility. Full story here: https://thebusinessmagazine.co.uk/companies/warwick-poised-for-20m-logistics-unit-after-green-light-for-barberry/

These are the top stories making the headlines across The Business Magazine website today: South East deal volume down by 21 per cent as values soar Despite a 21% decrease in the number of deals completed in the South East, with 739 deals this year, the total deal value soared to £26.2 billion, up from £9 billion last year, according to the Quarter 3 Experian M&A Review. Full story here: https://thebusinessmagazine.co.uk/corporate-finance/south-east-deal-volume-down-by-21-per-cent-as-values-soar/ Growth eases in construction sector in October The UK construction sector's growth slowed in October, with the PMI® index dropping to 54.3 from September's 29-month high of 57.2, indicating a deceleration in industry activity. Full story here: https://thebusinessmagazine.co.uk/companies/growth-eases-in-construction-sector-in-october/ Hundreds gather to combat climate change on local level at Dorset COP Hundreds gathered at Bournemouth University for Dorset COP, a community-led conference focused on combating climate change, featuring opening remarks from the university’s new vice-chancellor Prof Alison Honour, sustainability manager Lois Betts, local MP Jessica Toale, and event organizers. Full story here: https://thebusinessmagazine.co.uk/esg/hundreds-gather-to-combat-climate-change-on-local-level-at-dorset-cop/

These are the top stories making the headlines across The Business Magazine website today: Government confirms £20m levelling up funding for Cheltenham's Golden Valley Development The government has confirmed £20 million in levelling up funding for Cheltenham Borough Council's Golden Valley Development, a significant milestone for the project initially secured under the previous Levelling Up Fund. Full story here: https://thebusinessmagazine.co.uk/property/government-confirms-20m-levelling-funding-for-cheltenhams-golden-valley-development/ Princess Anne named chancellor of Bournemouth’s new Health Sciences University Princess Anne has been appointed the inaugural chancellor of the newly rebranded Health Sciences University in Bournemouth, where she attended an installation ceremony, visited the campus, and unveiled a commemorative plaque. Full story here: https://thebusinessmagazine.co.uk/companies/princess-anne-named-chancellor-of-bournemouths-new-health-sciences-university/ Whistl to create three new depots as it expands fulfilment business Whistl, based in Buckinghamshire, is expanding its e-fulfillment business by opening three new depots, including a 300,000 sq ft facility in Magna Park South, Lutterworth—the largest dedicated 3PL logistics site in the Midlands' "Golden Triangle." Full story here: https://thebusinessmagazine.co.uk/property/whistl-to-create-three-new-depots-as-it-expands-fulfilment-business/

These are the top stories making the headlines across The Business Magazine website today: Southampton university spin-out trials its quantum tech with Royal Navy Aquark Technologies, a spin-out from Southampton University, has trialed its advanced ‘cold atom’ quantum tech for covert sea monitoring on the Royal Navy's HMS Pursuer, in collaboration with the Office of the Chief Technology Officer. Full story here: https://thebusinessmagazine.co.uk/companies/southampton-university-spin-out-trials-its-quantum-tech-with-royal-navy/ Airbus says it saw strong demand in first nine months Airbus reported a 5% increase in revenue to €44.5 billion for the first nine months of 2024 compared to the same period last year, reaffirming its full-year guidance amid continued strong demand. Full story here: https://thebusinessmagazine.co.uk/companies/airbus-says-it-saw-strong-demand-in-first-nine-months/ Nurturing learning environments among key aims of new CEO at WCG The new CEO of Warwickshire College Group, Sara-Jane Watkins, aims to foster nurturing learning environments, support communities, and address local economic needs as her primary objectives. Full story here: https://thebusinessmagazine.co.uk/companies/nurturing-learning-environments-among-key-aims-of-new-ceo-at-wcg/

These are the top stories making the headlines across The Business Magazine website today: Andover’s CybaVerse closes £1.1m funding round Andover-based CybaVerse, an AI-driven cybersecurity firm led by CEO Oliver Spence, has secured over £1.1 million in funding from investors including FSE Group and the University of Sussex Business Angels to expand its team and accelerate platform development. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/hampshires-cybaverse-closes-1-1m-funding-round/ West Midlands named one of the most innovative locations in Europe The West Midlands has been recognized as one of the top three most innovative locations in Europe by the European Innovation Council, alongside Turin and Espoo, for its leading role in cutting-edge technology. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/west-midlands-named-one-of-the-most-innovative-locations-in-europe/ Willmott Dixon to build net zero offices for Oxfordshire County Council Willmott Dixon has been appointed to construct a sustainable, net-zero four-storey headquarters for Oxfordshire County Council at Speedwell House, with the council set to relocate from County Hall in early 2027 as part of Oxford's West End redevelopment. Full story here: https://thebusinessmagazine.co.uk/property/willmott-dixon-to-build-net-zero-offices-for-oxfordshire-county-council/

These are the top stories making the headlines across The Business Magazine website today: Busy Monday for Good Energy as it receives unsolicited offer from Dubai company, and buys another company itself Good Energy Group, a Chippenham-based renewable energy supplier, has received an unsolicited acquisition offer from Dubai's Esyasoft Holding Limited and is currently evaluating the proposal. Full story here: https://thebusinessmagazine.co.uk/corporate-finance/a-busy-monday-for-good-energy-as-it-receives-unsolicited-offer-as-it-buys-another-company/ Oxfordshire poised for new cutting-edge medical facility Oxfordshire is set to welcome a state-of-the-art medical facility at Jordan Hill business park next year after planning permission was granted, with Welbeck Health Partners investing over £30 million to expand premium healthcare access, complementing their flagship London and forthcoming Cambridge locations. Full story here: https://thebusinessmagazine.co.uk/companies/oxfordshire-poised-to-get-new-cutting-edge-medical-facility/ Associated British Ports strikes property partnership deal with real estate giant JLL Associated British Ports (ABP) has entered into a partnership with real estate giant Jones Lang LaSalle (JLL) to promote its extensive property portfolio, including 8,600 acres of commercial land and over 2,400 acres of development land across 21 UK ports. Full story here: https://thebusinessmagazine.co.uk/companies/associated-british-ports-strikes-property-partnership-deal-with-real-estate-giant-jll/

These are the top stories making the headlines across The Business Magazine website today: Savills seeing increasing uptake of office space in South East Real estate firm Savills reports a 38% year-over-year increase in office space uptake in Greater London and the South East, totaling approximately 2.1 million square feet by the end of Q3 2023. Full story here: https://thebusinessmagazine.co.uk/companies/savills-seeing-increasing-uptake-of-office-space-in-south-east-this-year/ Oxfordshire firm poised to deliver electricity to Iceland from its first space-based plant Oxfordshire's Space Solar has announced an agreement with Transition Labs to deliver electricity to Reykjavik Energy in Iceland from the world's first space-based solar power plant, expected to be operational by 2030. Full story here: https://thebusinessmagazine.co.uk/companies/oxfordshire-firm-poised-to-deliver-electricity-to-iceland-from-its-first-space-based-plant/ Swindon fight back begins as it’s named most employee friendly city in UK Swindon, once dubbed one of Britain's most depressing towns, has rebounded to be named the most employee-friendly city in the UK, according to an Adobe Express study that evaluated factors like salary, cost of living, and green space access across 30 cities. Full story here: https://thebusinessmagazine.co.uk/companies/swindon-fight-back-begins-as-its-named-most-employee-friendly-city-in-uk/

These are the top stories making the headlines across The Business Magazine website today: Confidence returning to South East commercial property markets, finds Vail Williams Confidence is rebounding in South East commercial property markets, particularly in the Thames Valley, Oxford, and Surrey, according to a report by Vail Williams, though a shortage of new industrial supply remains a significant challenge. Full story here: https://thebusinessmagazine.co.uk/property/confidence-returning-to-south-east-commercial-property-markets-finds-vail-williams/ Maritime UK Solent launches membership initiative Maritime UK Solent has launched a new membership programme aimed at businesses, offering opportunities for networking, collaboration, and policy influence within one of the UK's largest maritime clusters, from Poole to Chichester. Full story here: https://thebusinessmagazine.co.uk/companies/maritime-uk-solent-launches-membership-initiative/ For Sale: Major county airport, with room for expansion Gloucestershire Airport, co-owned by Cheltenham Borough Council and Gloucester City Council, is up for sale with 100 percent of the shares in the operating company being marketed by international real estate advisor Savills. Full story here: https://thebusinessmagazine.co.uk/companies/for-sale-airport-with-room-for-expansion/

These are the top stories making the headlines across The Business Magazine website today: Corporate advisers survey shows continued rise in SME confidence A recent survey by alternative lender Thincats, which gathered insights from over 100 leading debt advisors, indicates that confidence among UK lower mid-market companies is on the rise, showing a positive trend in market activity over the past six months despite previous challenges. Full story here: https://thebusinessmagazine.co.uk/corporate-finance/corporate-advisers-survey-shows-continued-rise-in-sme-confidence/ South East Water to invest £2.3bn in works over next 50 years South East Water has announced a £2.3 billion investment over the next 50 years to secure drinking water supplies in Kent, Sussex, Surrey, Hampshire, and Berkshire, focusing on leak reduction, water efficiency, new reservoirs, desalination, water recycling facilities, and an extensive pipe network. Full story here: https://thebusinessmagazine.co.uk/property/south-east-water-to-invest-2-3bn-in-works-over-next-50-years/ NATS and Altitude Angel bring drone approval service to Southampton Airport Southampton Airport has introduced a rapid digital flight approval program for drone operators, spearheaded by air traffic control provider NATS and Altitude Angel, reducing clearance times from over two weeks to just minutes. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/nats-and-altitude-angel-bring-drone-approval-service-to-southampton-airport/

These are the top stories making the headlines across The Business Magazine website today: Begbies Q3 Red Flag report shows rise in firms with 'significant' financial distress as uncertainty persists The latest Begbies Traynor Red Flag Alert report reveals a 5.1% increase in UK businesses experiencing 'significant' financial distress during Q3, highlighting ongoing economic uncertainty and concerns ahead of the Autumn Budget. Full story here: https://thebusinessmagazine.co.uk/companies/begbies-q3-red-flag-report-shows-rise-in-firms-with-significant-financial-distress-as-uncertainty-persists/ Oxfordshire's Open Cosmos chosen to deliver innovative 6G in-orbit lab Oxfordshire-based Open Cosmos has been selected to operate and manufacture a groundbreaking 6G satellite precursor as part of a TESAT-led consortium, aiming to revolutionize future communications with an in-orbit lab for end-to-end connectivity research. Full story here: https://thebusinessmagazine.co.uk/companies/oxfordshires-open-cosmos-chosen-to-deliver-innovative-6g-in-orbit-lab/ Worcestershire's Plumbworld eyeing £200m sales as it celebrates 25 years in business Evesham-based Plumbworld, founded by James Hickman in 1999, celebrates its 25th anniversary with ambitions to achieve £200 million in sales after surpassing the £100 million mark for the first time. Full story here: https://thebusinessmagazine.co.uk/companies/worcestershires-plumbworld-eyeing-200m-sales-as-it-celebrates-25-years-in-business/

These are the top stories making the headlines across The Business Magazine website today: Government launches Industrial Strategy green paper The UK government has unveiled a green paper to initiate its modern Industrial Strategy, with Microsoft UK CEO Clare Barclay set to chair the new Industrial Strategy Advisory Council to provide expert guidance. Full story here: https://thebusinessmagazine.co.uk/companies/government-launches-industrial-strategy-green-paper/ US operators pledge billions to data centres across South East At today's International Investment Summit, three American tech giants announced a £6.3 billion investment to enhance data infrastructure in the South of England, focusing on Slough, Surrey, and Oxfordshire, to support the growth of crucial AI technologies. Full story here: https://thebusinessmagazine.co.uk/property/us-operators-pledge-billions-to-data-centres-across-south-east/ Hampshire’s QinetiQ wins £150m military communications contract QinetiQ, based in Farnborough, has secured a £150 million, three-year contract from the Defence Digital arm of the Ministry of Defence to enhance tactical military communications for the British Army. Full story here: https://thebusinessmagazine.co.uk/technology-innovation/hampshires-qinetiq-wins-150m-military-communications-contract/ Hampshire Business Awards 2024 - Finalists Announced Finalists for 14 categories at the Hampshire Business Awards 2024, supported by Hampshire County Council and Farnborough Airport, have been announced, with the event set to take place on November 21st at the Farnborough International Exhibition and Conference Centre. Full story here: https://thebusinessmagazine.co.uk/companies/hampshire-business-awards-2024-finalists-announced/

These are the top stories making the headlines across The Business Magazine website today: From start-up to magic million in four years - Dorset independent coffee supplier set to generate £1 million revenue in a year In just four years, Dorset-based independent coffee supplier Say Coffee, founded by Jeffrey Barnacle after facing redundancy during the pandemic, is poised to reach £1 million in annual revenue, marking a significant milestone in its rapid growth. Full story here: https://thebusinessmagazine.co.uk/companies/from-start-up-to-magic-million-in-four-years-dorset-independent-coffee-supplier-set-to-generate-1-million-revenue-in-a-year/ Six of South’s business leaders land places in LDC Top 50 Six business leaders from the South have been recognized in the LDC Top 50 list by Lloyds Banking Group's private equity arm, highlighting their contributions to sustainability, positive change, international opportunities, and employee wellbeing. Full story here: https://thebusinessmagazine.co.uk/companies/six-of-souths-business-leaders-land-places-in-ldc-top-50/ Businesses seen to accelerate exit plans ahead of October Budget Nearly a third of UK business owners with turnovers exceeding £5 million have expedited their exit plans in the past year ahead of the new government's upcoming October Budget, according to research by Evelyn Partners. Full story here: https://thebusinessmagazine.co.uk/companies/businesses-seen-to-accelerate-exit-plans-ahead-of-october-budget/