Author: Scott Dylan

The Competition and Markets Authority (CMA) is scrutinising Carlsberg’s proposed acquisition of Britvic, evaluating its impact on market competition.The investigation will assess whether the merger could significantly reduce competition in the UK’s beverage sector.A preliminary ‘invitation to comment’ has been announced, welcoming input from interested parties about the merger.The regulatory review is part of a formal process, including engagement with market participants affected by the deal.Britvic accepted Carlsberg’s £3.3bn offer in July, after previously rejecting two bids.The Competition and Markets Authority (CMA) has launched an investigation into the implications of Carlsberg’s proposed £3.3 billion acquisition of Britvic, a prominent soft…

NanoSyrinx, a biotech innovator from Coventry, secures £10m funding.Major investors include US giant Eli Lilly and British Growth Fund.Funds to develop unique nanosyringe technology for drug delivery.Experienced leader Edwin Moses appointed as new chairman of NanoSyrinx.Aims to address challenges in biologic therapeutics delivery.NanoSyrinx, headquartered in Coventry, has successfully achieved a £10m funding milestone, attracting major investment from recognised industry player Eli Lilly. The infusion of finance, also supported by the British Growth Fund, Octopus Ventures, and M Ventures, underpins the development of NanoSyrinx’s pioneering nanosyringe technology. This novel platform promises to revolutionise the targeted intracellular delivery of biologic therapeutics, which…

Labour is being urged to explore a significant shift in pension taxation to help manage government spending.The move has sparked extensive debate, with experts warning of potential repercussions for employer contributions to staff pensions.Proposal for National Insurance on Pension ContributionsA left-leaning think tank has proposed that companies should be required to pay National Insurance on contributions made to staff pension schemes. They argue that the current tax relief is “unnecessary” and “arbitrary”. This proposal has raised concerns among experts who warn it could disincentivise employers from contributing to staff pensions.Concerns from ExpertsSteve Webb, former pensions minister and current partner at…

IQE, a leading semiconductor company, reports significant revenue growth as it advances towards a Taiwan IPO.The company experienced a 26.7% increase in sales in the first half of the year, reaching £66 million.IQE’s wireless technology sector saw a remarkable 73% rise, compensating for a slight decline in the photonics division.CEO Americo Lemos cited Taiwan as a prime location for the IPO due to its favourable market conditions.Despite positive revenue reports, IQE shares dropped by 14%, reflecting market volatility.IQE, headquartered in Cardiff, has declared substantial progress towards the initial public offering (IPO) of its Taiwan subsidiary, as evidenced by its recent…

JD Sports announces closure of its Derby distribution centre, affecting nearly 200 employees.The closure follows a strategic review of the company’s global supply chain network.Employees were notified post a six-week consultation period, as per reports.Efforts are underway to reallocate affected employees to alternative roles within the company.The decision comes as the retailer’s outlook remains cautious amidst a volatile macro environment.JD Sports, a leading sportswear retailer, has announced the impending closure of its Derby distribution centre which will result in nearly 200 job losses. This decision was conveyed to employees at the Derby Commercial Park after completing a six-week consultation period,…

JD Sports has announced its decision to shut down its Derby distribution centre.The closure is expected to affect nearly 200 warehouse employees.JD Sports is seeking alternative roles within the company for those affected by the move.The closure is a result of a strategic review of JD Sports’ global supply chain.Operations at the Rochdale distribution centre remain unaffected.JD Sports has confirmed the decision to close its distribution centre in Derby, which will impact just under 200 workers. This comes as part of a strategic review of the retailer’s global supply chain network. The company is actively exploring alternative employment opportunities for…

Despite challenges, Wickes remains optimistic in the volatile DIY market.The company’s adjusted pre-tax profit fell nearly 25% in the first half of 2024.Retail revenue rose slightly, although design and installation sales declined significantly.Wickes achieved new heights in market share for its retail division, especially in decor.CEO David Wood remains positive about future growth and market opportunities.Wickes has experienced a challenging year, with adjusted pre-tax profit dropping almost 25% to £23.4 million in the first half of 2024, a noticeable decrease from £31.1 million during the same period in the previous year. However, statutory profit before tax exhibited a contrary trend…

The rise of electric vehicles (EVs) makes charging hubs essential, especially at accessible locations.Over a million fully electric cars and 620,000 hybrids now traverse UK roads.Charging infrastructure is crucial to accommodate current and future EV demands.Supermarkets provide strategic sites for EV charging hubs.Installing EV charging stations can significantly enhance site traffic for landowners.The acceleration in electric vehicle adoption has reached a significant milestone with over one million fully electric cars and 620,000 plug-in hybrids operational across the UK. This surge underlines the growing importance of enhancing the existing charging infrastructure to meet both current usage and anticipated future growth.Charging infrastructure…

The Resolution Foundation has put forward several recommendations for Labour’s upcoming Budget, addressing significant fiscal challenges.Abolishing inheritance tax reliefs for agricultural and business assets could raise £2 billion annually.Bringing capital gains tax rates in line with dividend and wage taxes is estimated to yield an additional £8 billion per year.The think tank suggests implementing a road pricing system to offset declining fuel duty revenue, potentially charging drivers 6p per mile plus VAT.Concerns have been raised about the economic efficiency of upcoming changes to stamp duty thresholds.The Resolution Foundation has recommended abolishing inheritance tax reliefs for agricultural and business assets in…

Mountain Warehouse is expanding with 50 new stores due to rising in-store demand.The retailer will increase its presence both in the UK and internationally.Founder Mark Neale is optimistic about the vitality of high streets.The company reported a record high sales of £386m.Mountain Warehouse has rebounded with a £26.2m pre-tax profit.Mountain Warehouse, a prominent outdoor retail brand, is embarking on an ambitious expansion with a plan to open 50 new stores across various regions. This decision comes in response to a significant increase in in-store shopping demand, indicating a shift in consumer behaviour favouring physical retail locations over online shopping. This…