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European firms unite in bid to rival SpaceX
Key European aerospace firms have agreed to pool their space operations into a single business in a bid to compete in the rapidly developing space industry against rivals including SpaceX. Pitched as a ‘European Space Champion’, the new company will be headquartered in Toulouse, employ around 25,000 people and have an annual turnover of €6.5bn…
Up to 150 ex-WHSmith high street stores to close as rescue deal approved
The owner of TG Jones, WH Smith’s former High Street business, has won approval for a sweeping restructuring which will see up to 150 shops close as well as steep rent cuts on most of the remaining stores. Modella Capital bought the chain stores last year and they were then rebranded under the name TG…
Nottingham Michelin-starred chef calls for VAT cut
Earlier this month, new Prime Minister Andy Burnham announced a 20% cut in business rates for pubs, social clubs and music venues in England, telling them “the cavalry is coming”. Some hospitality firms welcomed the move but others in the industry, such as hotels and restaurants, questioned why the 20% cut to business rates would…
North Sea drilling restrictions to be relaxed in new Labour plan
Plans to relax restrictions on new oil and gas drilling in the North Sea will be unveiled on Wednesday under the government’s North Sea Strategy. Chancellor Rachel Reeves will announce the publication of the strategy as part of her Budget speech, the BBC understands. The Department for Energy Security and Net Zero will release a…
