Sir Keir Starmer to reveal government's vision for building new towns across the UK

Enterprise

Sacked boss of Welsh language channel S4C Sian Doyle files claim against former employer

Sacked chief executive of Welsh language Chanel S4C, Sian Doyle, has filed a claim against her former employer at the High Court, it has been reported. It comes after the S4C authority - its governing body - sacked her in 2023. Ms Doyle was two senior female leaders sacked by former chairman Rhodri Williams during a period of huge controversy for the channel. Mr Williams, who had faced a complaint of bullying against him which was upheld, ultimately left the channel after committees of Senedd Members and MPs both raised questions about his leadership. Ms Doyle, who had been pilloried by the broadcaster in a public statement following her sacking after it released a report into bullying commissioned by the then chairman, was on sick leave when she was sacked. She said she was fired without being given the change to respond to the allegations. The report from Cardiff law firm Capital Law commissioned by Mr Williams came after reports from broadcasting union Bectu who claimed there was a "bullying and a toxic culture" at the channel with allegations of a "culture of fear" with "staff regularly being brought to tears" and "too scared to share their experiences". Days after the report was published Mrs Doyle was rushed to hospital after an overdose. At the time, her husband Rob described the report as the "last straw" and "an assassination of her character" which led to his wife being "torn apart in the media after an exceptional 30-year international career because of a one-sided report". He added: "Sian was so proud to have been asked to come out of retirement to lead an organisation that, as a young girl, she campaigned to set up. But that pride turned into frustration, and then to disappointment, fear, and finally despair." Now, it is reported she has a filed a personal injury claim. In a statement to BBC-produced Newyddion S4C, her lawyers said Ms Doyle had been subjected to a "truly extraordinary and inappropriate period of mistreatment" which "has seriously damaged her health and wellbeing". She has until February 21 to provide details of her alleged injury, as well as the compensation she is claiming. Her lawyer, Paul Daniels, told the BBC they had no choice but to take action due to S4C and Rhodri Williams' "prolonged" failure to accept their mediation offer and the unacceptable delays in responding to the claim letters. According to Mr Daniels, the claims are for negligence [breach of the duty of care owed to our client], unlawful harassment, misfeasance in public office, breach of privacy rights, breach of confidence, and data protection breaches. He added: "No-one should be treated in this way, whether a senior or a junior employee, by an organisation and a chairman that is legally required to act lawfully, fairly and in accordance with the Nolan Principles governing the conduct of public office." In a written statement, her husband said: "I am deeply saddened by the traumatic impact that S4C and the former chairman's treatment has had on Sian and my family. The distress and emotional harm she has suffered is devastating and is affecting every aspect of her wellbeing. "This ongoing mistreatment has caused lasting harm and we are committed to obtaining full justice and accountability under UK law and the Nolan principles."

Enterprise

Healthtech start-up bags Europe's largest pre-seed funding round for female founders

UK-based healthtech start-up Level Zero Health has successfully raised $6.9 million (£5.5 million) in pre-seed funding, setting the record for the largest amount garnered by female founders in Europe to date. The investment, spearheaded by the European venture capital firm Redalpine, is aimed at bolstering the company's ambitious goal to transform hormone tracking, as reported by City AM. The funds are earmarked for furthering the development of the world's pioneering remote and continuous hormone monitoring device, which utilises novel DNA-based sensors for operation. Founded just over a year ago by former Palantir tech lead Ula Rustamova and medical device specialist Irene Jia, previously with Philips, Level Zero Health's achievement establishes a new standard for female-led startups across Europe, drawing 70 percent of the investment from within the region. The company's innovative approach centres on a non-invasive wearable patch that adheres to the user's arm, furnishing them with instantaneous hormone level readings. This technological solution offers continuous measurement of hormone levels, unlike conventional blood tests that provide only snapshot data points. The implications of this technology are vast and could impact various areas including fertility treatment protocols, menopause management, and stress tracking amongst others. Testing of the sensor's capabilities in simulated samples has demonstrated a formidable 98 percent accuracy rate, surpassing general industry benchmarks. Chief Executive Ula Rustamova has expressed her enthusiasm about the breakthrough, stating: "Our innovative remote monitoring technology marks an enormous leap in hormone testing." Level Zero Health has raised £4.2m in pre-seed funding, with the company's innovative hormone tracking solution attracting significant investment. "This funding will enable us to bring this revolutionary solution to the market, making hormone tracking more accessible and insightful than ever before". Level Zero has already gained a strong following of potential customers, despite being in its early stages. The funding will be used to advance research and development, as well as expand the team. While initially focusing on business-to-business (B2B) clinical applications, the company plans to expand into consumer health and pharmaceutical markets. Redalpine investor and Level Zero Health board member, Philip Kneis, said: "We did it for blood pressure, and we will do it again for hormones. Continuous hormone measurement is one of the holy grails of diagnostics". The company's clinical advisory board includes experts such as Harvard Medical School's Aaron Styler and reproductive science expert Joshua Klein.

Enterprise

London small businesses hit record low confidence, FSB report reveals

Confidence among small businesses in London has taken a nosedive, with some sectors experiencing record-low levels of optimism. The Federation of Small Businesses (FSB) has released a report indicating that confidence levels for London's small firms plummeted to 62.6 in Q4 of 2024, a significant drop from the negative 1.2 percentage points recorded in the previous quarter, as reported by City AM. This marks the lowest level of confidence outside of pandemic times, as per the FSB's findings. London experienced the sharpest decline, with overall small business confidence in the wider economy at 40.1. The accommodation and food services sectors were hit hardest, with confidence sinking to an unprecedented low of negative 111 points. The wholesale and retail sectors weren't far behind, registering a confidence level of negative 94.2 points. Meanwhile, those in the professional, scientific, and technical activities sectors were comparatively less pessimistic, with a score of negative 40.1 points. The construction sector witnessed the steepest fall in confidence between the third and fourth quarters, deteriorating from negative 26.6 points to negative 76.8 points. The majority of respondents in the report identified the domestic economy as the primary obstacle to growth "once again". However, the tax burden has risen to become the second most significant barrier, with over 43% of small businesses flagging it as a concern. Labour-related costs ranked third but were more pressing for businesses across the UK (42%) than those in London (31.5%). Consumer demand, typically a top concern for small firms, has dropped to fourth place, being cited by 28 per cent of small businesses. The FSB's report predicts 'subdued' growth prospects as small businesses anticipate "see lower levels of expansion". Just over 43 per cent of small firms expect their business to grow in the next 12 months, a decrease from more than half in the previous survey. Tina McKenzie, FSB’s policy chair, commented on the findings: "The fourth quarter blues reported by small firms underline how urgently the government’s growth push is needed." She noted that "Small firms are understandably nervous about their prospects as 2025 gets underway" and highlighted the upcoming Employment Rights Bill as a "major source of stress for small firms." A recent FSB report disclosed that 90 per cent of small firms are concerned about the implications of the Employment Rights Bill. McKenzie emphasised that the Spending Review, concluding in June, "must prioritise spending on programmes that will deliver small business growth".

Enterprise

SMEs could win more public sector contracts under new AI-powered procurement pilot in Greater Manchester

SMEs could win more contracts with local councils under an AI-powered procurement scheme being launched this morning. STAR Procurement – an organisation that looks after the procurement needs of four councils in Greater Manchester and another two from Merseyside – has begun a pilot scheme to help smaller firms and voluntary and community sector organisations (VCSOs) to win public sector contracts. It follows a campaign from the Federation of Small Businesses (FSB) to launch a procurement scheme in Greater Manchester to “ensure businesses are at the front of the queue to deliver goods and services needed by their own local authority”. The pilot will include Stockport, Tameside, Trafford and Rochdale councils – who together make up STAR – but the FSB hopes that if successful it will be extended across the city region. The FSB says smaller firms tend to see council procurement as “overly complicated, time consuming, and out of reach”. The pilot aims to make the process easier by using “an AI powered digital platform” to connect SMEs with lower value council contracts. It will focus at first on contracts of over £50,000 but will be reviewed as the pilot goes on and could go up to contracts worth as much as £213,000. Robert Downes, development manager for the FSB in Greater Manchester, said: “This is an exciting opportunity for businesses and councils in GM alike – and it’s something FSB has been campaigning for here in GM for a number of years. It’s great news for businesses based here as we begin the new year. “For smaller businesses and VCSOs who have traditionally seen public sector procurement as beyond their reach and aimed at large organisations, this will help open-up contracts that at the moment aren’t even officially advertised anywhere. This means many new contracts will be up for grabs for the first time with the clear aim to award to local businesses. These will be new opportunities for the smallest firms to deliver public sector contracts, minus the quite onerous processes that more expensive town hall contracts incur during the established procurement process. “For councils, it means they could and should be getting better value for taxpayers’ money by opening up contracts to many more business, and spending locally which we know helps create wealth in our communities. It’s a real win-win for the public and private sectors particularly at a time when budgets in all sectors are under pressure.” Metro Mayor, Andy Burnham added: “Helping more small businesses compete for, and win public contracts is key to building a more inclusive economy in Greater Manchester. By keeping spending local, we can ensure the benefits are felt by our people and communities.” Lorraine Cox, director at STAR Procurement, has been leading on the pilot and said she hoped it would strengthen relationships between the public sector and SMEs. She added: “This pilot will test a proof of concept, and contracts will therefore release in small phases to allow STAR to assess processes and impact. We anticipate success and therefore intend to widen the scope in the future.” Janine Smith, director of GM Business Growth Hub, said: “Understanding and winning public contracts can be game-changing for smaller businesses as they provide a steady source of income, allowing businesses to build upon a solid foundation. This much welcome support will only help create more resilient businesses across our city region.”

Enterprise

Moonpig founder and former Dragons' Den star opens new Wiltshire business school

A new multimillion-pound business school in Wiltshire has officially opened. Former Dragons' Den star Nick Jenkins took part in the ribbon-cutting ceremony to mark the launch of Wiltshire College and University Centre’s new Wiltshire Business School. The Moonpig founder said school, at the college's Lackham campus near Chippenham, would be an "asset" to the county and "great for local businesses". “I'm very impressed with the facilities here and I think it's fantastic that it is in Wiltshire,” said Mr Jenkins. “I want to be employing people who have had the kind of training on offer here.” Wiltshire Business School is based in the Georgian Grade II listed building Lackham House, which is part of a £2.2m development at the college’s Lackham campus. As well as traditional classrooms, the school has meeting rooms fitted with wireless digital screens; laptop docking stations; video conferencing equipment; breakout areas with collaborative desk set-ups; and work pods resembling co-working spaces. There is also an oak-panelled boardroom in what was once the house’s billiard room. Principal and chief executive Iain Hatt said Wiltshire Business School would teach commercial skills in a setting that "looks and feels like 21st century offices". “We’ve created high-quality training facilities that reflect businesses today, so students can learn in a modern business environment,” he said. “We will deliver the core curriculum requirements to our students in terms of the technical skills they need but alongside that we’ll develop the habits and behaviours that will prepare them for work.” Mr Hatt said the business school was built in response to the introduction of T Levels, a new qualification designed with employers that combines learning at the college with up to 315 hours of real-world experience in industry. He added that it would also help address the digital skills gap identified in the Swindon and Wiltshire Local Skills Plan. At present students are studying T Level Business: Management and Administration at the business school but Mr Hatt expects the number of students to grow over the next two years as other courses are introduced. “We’ve had excellent feedback from the employers who’ve been in to see it and the students love it,” he said. “Since 1946 when it opened its doors as the Wiltshire Farm Institute, Lackham has always been at the cutting edge of education and with Wiltshire Business School we are future proofing our teaching for the next generation.” The college is planning to open up the school to businesses for part-time courses, including HR, accountancy and leadership.

Enterprise

Sheffield's One Health Group looks to create surgical hub through £8m fundraise

Sheffield healthcare company One Health Group is looking to raise £8m to fund the creation of its first surgical hub amid a move to the AIM market. The firm, a leading independent surgical services provider to the NHS has announced a conditional placing to raise a minimum of £7m, an open offer to qualifying shareholders to raise up to £500,000, and a retail offer to raise up to £500,000. The firm is also proposing to cancel trading on the AQSE Growth Market and admission to AIM. In an announcement to the market, it said proceeds would be used primarily to fund the group’s first owned surgical hub through to operation, a project which is expected to cost between £8m and £9m. The group expects the hub to be operational within one year of construction starting and deliver between £6m and £9m in annual revenues, while also being earnings enhancing in its first full year of operation. Planning permission for the surgical hub is expected to be submitted soon. The placing to raise a minimum of £7m consists of an issue of new ordinary shares to raise £5.2m, and the sale of existing ordinary shares held by certain directors and the company’s EBT Trustee to raise at least £1.8m. The capital raising is conditional upon admission of the Enlarged Share Capital to trading on AIM, cancellation of trading on the AQSE Growth Market and the passing of the Resolutions at the General Meeting. In addition, the company intends to launch an offering to both new and existing retail shareholders in the United Kingdom of up to 277,777 new ordinary shares through the retail offer. The announcement says: “The board considers admission to be in the best interests of the company and its shareholders given the growing scale of the business. The board believe AIM is a more appropriate market for the company and will enable it to attract a wider pool of investors, provide greater access to capital for growth and, over time, improve liquidity in the ordinary shares.” Its proposed move from the AQSE Growth Market to AIM are both conditional on completion of the placing and the open offer, and the passing of the resolutions at a general meeting. Should everything go ahead, admission to AIM is expected to take place on March 20.

Enterprise

UK housing market value surpasses £9 trillion, driven by easing affordability

The total value of all UK homes has eclipsed the £9 trillion mark for the first time, as revealed by new insights from property experts at Savills. Following a slight downturn in 2023, the UK housing market rebounded with a formidable £346bn increase last year – now standing at over 3.5 times the nation's annual GDP, as reported by City AM. "Affordability pressures eased and prices returned to growth in many areas [in 2024], pushing the total value of the UK's housing stock to another record high," commented Lucian Cook, Savills' head of residential research. The property market faced significant challenges in 2023 amidst soaring borrowing costs and purchaser hesitancy leading to delayed transactions. During August 2023, average mortgage rates for two and five-year fixed deals surged past six percent. However, mortgage interest rates have been on a downward trend over the past year, aligned with consecutive reductions in the Bank of England base rate. Data from Mojo Mortgages indicates that the average rate for a two-year fixed mortgage dropped to 4.7 percent by the end of 2024. Promising signs for a further uptick in house prices this year were highlighted as Rightmove's house price index reported a 0.5 percent rise in January, taking the average listing price to £367,994. "The confident start to 2025 continues, with more sellers coming to market and good levels of activity," stated Tomer Aboody, director of financial services firm MT Finance. Lawrence Cook of Savills commented: "With the Bank of England expected to cut interest rates further over the coming months, we anticipate an increase in transactional activity, particularly among second-steppers who have held off moving until rates fall." Moreover, mortgage lending regulations look set to relax. Nikhil Rathi, CEO of the FCA, has stated in a letter that the body will "begin simplifying responsible lending and advice rules for mortgages, supporting home ownership and opening a discussion on the balance between access to lending and levels of defaults".

Enterprise

UK Government achieves NHS appointment target early, yet challenges remain

The government has announced that it achieved its target of providing an additional two million NHS appointments seven months ahead of schedule, even as the health secretary cautions that there is still a "hell of lot more to do". According to new data released by NHS England, nearly 2.2 million more elective care appointments were delivered between July and November last year compared to the same period in the previous year, as reported by City AM. The government rolled out 'Change NHS' in October last year, a decade-long health strategy aimed at "building a health service fit for the future". Last Thursday, it shared data indicating a slight decrease in the overall NHS backlog from 7.48 million to 7.46 million, with the estimated number of patients waiting dropping from 6.28 million to 6.24 million. However, Monday's figures provided a more detailed picture, revealing that the NHS offered an additional 100,000 treatments, tests, and scans each week, along with over half a million extra diagnostic tests. Wes Streeting told BBC Breakfast that while the government had "delivered on our first step", his department was not "doing victory laps". He acknowledged the ongoing challenges, stating, "There are still massive challenges in the NHS, a hell of a lot further to go on waiting lists," and added, "People are still struggling to get GP appointments, and GPs are struggling." Prime Minister Keir Starmer welcomed the latest data, asserting, "We're determined to go further and faster to deliver more appointments, faster treatment, and an NHS that the British public deserve as part of our plan for change." Following a recent study, new figures have indicated that nearly one in eight people in Britain now have medical insurance, reaching a near-record high. Hospital and healthcare market intelligence provider Laingbuisson reports that almost 12% of the UK population is covered by medical insurance, marking the highest rate since 2008. The Health Secretary has been openly encouraging the use of the private health sector to alleviate NHS waiting lists. Last month, Streeting remarked, "I'm not going to allow working people to wait longer than is necessary when we can get them treated sooner in a private hospital, paid for by the NHS." In discussing with BBC Radio 4 this morning, the Health Secretary expressed his backing for private contributions to the NHS, stating, "I certainly want more patient choice, more patient power, more patient control over where they're seen, how they're treated, the nature of their appointments." He further highlighted the need for the NHS's customer service levels by adding, "The NHS should be as responsive as any other organisation that we use." Regarding private investment, he noted, "I think there is a role for private investment, but the terms of those arrangements, that's where you've got to tread really carefully. But I'm open to serious proposals from the NHS, or indeed anyone else,".

Enterprise

Hermès share price rises as handbag-maker retains luxury crown

Shares in luxury handbag retailer Hermès saw an increase this morning following the family-owned company's announcement of another impressive set of results. The firm reported a revenue of €15.2bn (£12.66bn) for 2024, marking a 15 per cent year-on-year rise, as reported by City AM. The share price of the Euronext-listed company climbed 2.5 per cent in early trades, indicating a 34 percent increase over the past year and a threefold surge since 2020. Operating income reached €6.2bn—equivalent to 40.5 per cent of sales—while net profit amounted to €4.6bn—30.3 per cent of sales. Hermès has managed to remain unaffected by the widespread downturn in the luxury sector over the past two years, a resilience analysts attribute to its strong brand identity and the coveted status of its Birkin bags. "In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermès model and the agility of the house’s teams, whom I thank warmly," said Axel Dumas, Executive Chairman of Hermès. He added: "While preserving the group’s major balances and its responsibility as an employer, the house is staying the course, attached more than ever to its fundamental values of quality, creativity and savoir-faire." Notably, even sales in Asia increased, a remarkable feat considering the global luxury downturn has been largely driven by falling sales in this region. Sales in Asia, excluding Japan, saw a 7 per cent increase, while sales in Japan surged by 23 per cent. The Americas and Europe also experienced robust growth with sales rising by 15 per cent and 19 per cent respectively.

Enterprise

Alton Towers operator Merlin Entertainments names new full-time chief executive

Merlin Entertainments, which operates premier attractions like Alton Towers, Legoland, and Madame Tussauds, has announced Fiona Eastwood as its new permanent chief executive. Eastwood took on the position on an interim basis from November 2024 and now officially replaces Scott O’Neil, who departed after a two-year tenure, as reported by City AM. O'Neil succeeded Merlin stalwart Nick Varney, who left in late 2022. In the UK, Dorset-headquartered Merlin also manages Chessington World of Adventures, the London Eye, and Thorpe Park, among others. Globally, Merlin Entertainments runs a portfolio of 140 attractions, drawing over 60 million visitors annually. Ownership of the company rests with Blackstone, a family-owned enterprise linked to the Lego brand, and Canada's most significant pension fund. Eastwood, formerly the group's COO responsible for Gateway Attractions—including Madame Tussauds, the Eye brands, Sea Life, and the resort theme parks—joined the company in 2015 as the global marketing director for gateway attractions. Before Merlin, she held the post of managing director of consumer products at BBC Studios. On her appointment, Eastwood commented: "It’s an honour to be chosen to lead Merlin. It is a truly world class company, with remarkable global reach and impact." She added: "Over the past decade, I have seen first hand what the business is capable of. My task, as CEO, is to lead Merlin to new heights, with a focus on performance, creativity, operational excellence and guest experience. "I am grateful to the board for their support – and look forward to continuing to work with an exceptional management team and our colleagues worldwide to implement the business’s transformational strategy. Together, we will drive growth at scale and help Merlin reach its full potential." For its 2023 financial year, Merlin Entertainments reported a turnover of £2.1bn, marking an eight per cent increase from the previous year, although it faced a pre-tax loss of £214m. Chairman Roland Hernandez remarked, "Fiona has a deep understanding of the business, the strategies required for sustainable growth, and the vision to spearhead our ongoing transformation.