Sheffield-based aquaculture biotech firm Benchmark has finalised the sale of its genetics division to Novo Holdings for £260m. The deal, initially reported in November 2024, includes an upfront payment of £230m and contingent consideration of up to £30m.

For the year ending 30 June 2024, the genetics business generated £57m in revenue and £14.5m in adjusted EBITDA. As of 30 June 2024, its net assets stood at £52.8m.

After adjustments related to cash, debt, and working capital, Benchmark expects to receive approximately £194m in gross cash proceeds, excluding potential earn-out payments.

Following the repayment of £63m for Benchmark’s unsecured green bond and £23.75m under its revolving credit facility, net cash proceeds are expected to total £107.5m. Benchmark will disclose further details on its ongoing strategy and use of proceeds in mid-April.

Quickline is expanding its Project Gigabit rollout, bringing full-fibre broadband to an additional 6,000 homes and businesses across Yorkshire and Lincolnshire. The expansion, backed by £11 million in public funding, will ensure improved connectivity in underserved areas.

The move increased the total government investment in Quickline’s fibre network to over £300 million, covering more than 170,000 premises. The rollout targets rural communities across West Yorkshire, North Yorkshire, East Riding of Yorkshire, and Lincolnshire, aiming to provide fast, reliable internet to businesses and residents in hard-to-reach locations.

Project Gigabit, funded by the UK Government, focuses on delivering gigabit-capable broadband to areas lacking access to next-generation speeds. The latest expansion is based on updated data to prioritise locations with the highest need.

Northumbrian Water has launched a £6.5 million project to develop sustainable aviation fuel (SAF) using algae cultivated in wastewater. The initiative, known as the “Green Machine,” will extract nitrogen and phosphorus from domestic sewage at the Bran Sands Treatment Works in Teesside, converting it into biofuel.

The project is being developed in partnership with US-based BrightWave, which supplies photobioreactors for algae cultivation, and Ligoflux, a specialist in algae harvesting technology. If successful, it could reduce operational costs by up to £1 million per year and support Northumbrian Water’s net zero goals.

This initiative aligns with the UK Government’s Sustainable Aviation Fuel Mandate, which requires 10% of all jet fuel used in UK flights to come from sustainable sources by 2030.

Business confidence in Yorkshire rose 13 points during March to 52%, according to the latest Business Barometer from Lloyds. While companies’ confidence in their own business prospects remained steady month-on-month at 53%, their optimism in the economy rose 24 points to 50%. Taken together, this gives a headline confidence reading of 52% (vs. 39% in February). Looking ahead to the next six months, Yorkshire businesses identified their top target areas for growth as investing in their team, for example through training (50%), evolving their offering, for example by introducing new products or services (40%), and entering new markets (37%). The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. This data was gathered between the 3rd – 17th March, ahead of the Spring Statement. National picture Overall, UK business confidence was 49% in March – the same as in February. While firms’ optimism in their own trading prospects held steady at 57%, their confidence in the wider economy dropped one point to 40%. The West Midlands and London were the joint most-confident of any UK nation or region in March (both 62%), followed by the North West (59%). Sector insights Retail confidence rose seven points to 58%, a post-pandemic high, reflecting positive trading prospects. In contrast, the manufacturing sector saw the largest decrease in business confidence this month, declining 12 points to 39%, due to increased concerns about supply chain disruptions. Construction firms also saw a decline to 48% and businesses in the service sector saw confidence decline to 47%. Martyn Kendrick, regional director for Yorkshire and the Humber at Lloyds, said: “Business confidence in Yorkshire has been growing consistently through the year so far, and is outpacing the UK average this month. “Local firms will be looking how they can build on their positive outlook and drive fresh growth. We’ll be on hand to support their plans, whether that involves training for their team, or launching new products in new markets.”

The government and Environment Agency have announced that West Yorkshire flood protection projects will receive funding as part of a £2.65 billion national investment in flood defences.

Nearly 30 regional projects will benefit over the next year, with funding to strengthen infrastructure and protect businesses and homes from future flooding.

Key allocations include £5 million for the Brighouse flood alleviation scheme, designed to safeguard more than 400 properties. Brighouse was among the areas severely affected by the 2015 Boxing Day floods, which caused an estimated £500 million in damages across West Yorkshire. The project will include Wellholme Park and Whinney Hill Park flood water storage areas.

Other funding includes £2 million for flood defences at Hebble Brook in Halifax, £200,000 for the Keighley and Stockbridge scheme, and £100,000 for Haworth flood defences.

The investment is part of a wider effort to enhance flood resilience across the UK. Over the next two years, more than 1,000 flood schemes are planned for construction or repair nationwide.

The Home Office has announced that the UK government will require all employers in the gig economy and zero-hour contract sectors to verify that workers have legal employment status. Company directors who fail to comply could face up to five years in prison, business closures, bans from directorship, and fines of up to £60,000 per worker.

The policy change, part of amendments to the Border Security, Asylum and Immigration Bill, aims to curb illegal working and disrupt people-smuggling networks. The Home Office says the checks, which take minutes to complete, will be provided free of charge.

Major gig economy firms like Deliveroo, Just Eat, and Uber Eats already conduct voluntary worker eligibility checks, but thousands of other businesses currently have no legal obligation to do so. The government argues the new rules will create a level playing field for compliant companies.

The announcement comes ahead of an international summit in London, where ministers from 40 countries will discuss strategies to combat human trafficking and illegal migration routes. The UK government also plans to expand enforcement powers against people-smuggling networks.

UK-based life sciences company ProBiotix Health has signed a long-term agreement with South Korea’s TopHealth to distribute its probiotic products. The deal grants TopHealth exclusive rights to sell ProBiotix’s CholBiome® brand, private-label solutions under YourBiotix, and products under TopHealth’s own consumer brand.

South Korea’s probiotics supplement market, valued at £350 million in 2023, is projected to reach £870 million by 2030. The partnership leverages TopHealth’s expertise in consumer health and its strong presence in the influencer-driven marketing space to expand ProBiotix’s footprint in this high-growth market.