Author: Scott Dylan

A pioneering biotech firm, backed by UCL, is making strides in ALS treatment by securing £79 million in funding.Trace Neuroscience, founded by experts from UCL and Stanford, focuses on restoring crucial neural proteins.The Series A funding, led by prominent venture capital groups, marks a notable investment in the healthcare sector this year.Their research targets the protein UNC13A, which is vital for neuron communication and is often diminished in ALS patients.This funding will help progress the development of this potentially life-changing ALS therapy towards clinical application.A pioneering biotech firm has emerged with the ambition to transform amyotrophic lateral sclerosis (ALS) treatment,…

Metro Bank has received a significant financial penalty from the UK financial regulator.The Financial Conduct Authority (FCA) fined Metro Bank £16 million for its inadequate monitoring of transactions.Failures in Metro Bank’s automated crime prevention system spanned from June 2016 to December 2020.Issues persisted even after the bank implemented a fix in 2019, raising concerns about financial security.This penalty highlights ongoing regulatory pressure on financial institutions to tighten anti-fraud measures.Metro Bank was fined £16 million by the Financial Conduct Authority (FCA) due to shortcomings in its transaction monitoring system. Over 60 million transactions, valued at more than £51 billion, were not…

Marks Electrical experiences a significant profit drop despite a rise in sales.Profits fall by almost half in the first half of 2024 to £820,000.Sales see a 9.3% increase, reaching £58.8 million within six months.Consumer trends shift towards non-premium products, affecting average order value.Anticipated national insurance hikes to cost the firm an additional £750,000 annually.In a notable shift, Marks Electrical reported a stark decrease in profits for the first half of 2024. Despite experiencing robust trading, the company’s profits almost halved, falling from £1.6 million in 2023 to £820,000. The adjusted EBITDA also saw a decline, slipping from £2.3 million to…

Frasers Group expands its influence in luxury fashion, raising queries on its Flannels strategy.The retailer’s recent store investments highlight ambitions towards a unique luxury shopping experience.David Epstein emphasises Flannels’ focus on regional consumers against a backdrop of industry challenges.Expansions include partnerships with luxury brands, diversifying offerings beyond apparel.Frasers’ resilience amid market fluctuations suggests a calculated long-term vision.Frasers Group has strategically positioned itself in the luxury fashion segment, notably acquiring prominent brands like Matches and Coggles, and attempting a takeover of Mulberry. The group’s stake in Flannels since 2012, expanding from six stores to the UK’s largest multi-brand premium fashion retailer,…

Harry Kane partners with Skechers for a new apparel collection.The collection features high-performance fabrics for optimal comfort.Items range from quarter zip tops to athletic training pants.Retail prices range from £50 to £70.The collection is available online and select stores in Europe.Harry Kane has joined forces with Skechers once again to release a new capsule collection. The collection is designed to offer both style and comfort, utilising high-performance fabrics that cater to those with an active lifestyle.The collection comprises a range of garments, including a lightweight quarter zip performance top, a hybrid vest, athletic training pants, and a long sleeve training…

Tesco has launched its 2024 Christmas campaign with a gingerbread theme, focusing on uplifting the festive spirit.The advert features a story around Gary, who finds joy and nostalgia in gingerbread creations shared with his grandfather.The magical gingerbread world crumbles, reflecting the emotional challenge of missing loved ones during festivities.Viewers witness the restoration of festive cheer as Gary and his grandfather rebuild cherished traditions together.Tesco pledges 10p per gingerbread product sold to support Trussell and Fareshare, aligning festive joy with charitable giving.Tesco’s latest Christmas advertisement captures the essence of festive nostalgia and joy, centering around the character Gary. The advert illustrates…

Apparel Brands has acquired the Leicester-based kidswear label, Hype, aiming to enhance its portfolio in youth fashion.Hype was saved from administration 18 months ago, preserving 82 jobs and highlighting its resilience in the retail sector.Under new ownership, Hype plans to offer ‘stylish, functional and affordable’ clothing for children and teenagers.The focus will be on expanding Hype’s appeal to families by offering trendy and practical options for various occasions.The acquisition represents a strategic move by Apparel Brands to strengthen its position in the market for kids and family fashion.Apparel Brands, a prominent player in the fashion industry, has successfully acquired Hype,…

In recent years, tobacco regulations have tightened across the United States. Despite these restrictions, teenagers still find ways to purchase e-cigarettes online. This issue becomes more prevalent with emerging data. As a result, many are questioning the effectiveness of current laws in preventing underage sales. Vigilance is necessary to enforce these regulations.E-cigarette usage among teens sparks debates on regulatory gaps. Highlighted by a recent study, loopholes in online sales create easy access for underage buyers. While physical stores enforce age verification, this does not always hold for online transactions. With the rise in online shopping, this poses a significant challenge.…

H&M will close its Edinburgh call centre by year-end, affecting 150 jobs.The decision stems from expiring lease and financial pressures.Consultations were held with staff from September to November.Alternative roles reduced the number of redundancies.The call centre will cease operations on 14 December.H&M has announced the closure of its Edinburgh call centre by the end of the current year, which will lead to the loss of approximately 150 jobs. This move comes as part of the company’s decision not to renew its lease at the Waverley Gate office due to expire in 2025.The closure is attributed to increasing competition, evolving customer…

Coggles, a luxury platform, transitions to a digital-only presence as Frasers Group repurposes its physical store for Flannels.Originally acquired by Frasers in June, Coggles’ standalone store in Alderley Edge has been revamped for the Flannels brand.The transformation is part of Frasers’ strategy to expand Flannels’ reach, aiming for wider luxury accessibility across the UK.Frasers’ acquisition includes a strategic partnership integrating financial services within its online platform.David Epstein confirms Coggles’ digital future, managed by a dedicated Manchester team.Coggles, a renowned luxury platform, is set to become online-only, following its acquisition by Frasers Group in June. The shift entails the transformation of…