Sheffield Forgemasters raises more than £21,000 for local charity
Redevelopment plans for Castleford Civic Centre site take step forward
Cllr Denise Jeffery, leader of Wakefield Council, said: “Securing a long-term plan for the redevelopment of this site – for the benefit of our local community – has been an important priority for us.
UK introduces new measures to combat ransomware threat
The UK government has announced a series of measures to tackle the growing threat of ransomware attacks, focusing on protecting businesses, public sector organisations, and critical infrastructure. Following public consultation, these proposals aim to disrupt cyber criminals and safeguard essential services, with the intention of reducing the financial and operational impact of ransomware.
Ransomware attacks have cost the UK economy millions annually, with businesses, hospitals, and critical services often targeted. The government’s proposals include banning public sector bodies, such as the NHS, local councils, and schools, from paying ransom demands. This move seeks to target the business model behind ransomware attacks, making these services less attractive to criminals.
For businesses outside the public sector, the government will require them to report any intention to pay ransom, offering guidance and monitoring to ensure compliance with legal sanctions. This mandatory reporting will help law enforcement track cybercriminal activities and provide essential intelligence to disrupt their operations.
The new strategy is designed to protect UK organisations from ransomware threats, with an emphasis on collaboration with industry stakeholders. Businesses are encouraged to enhance their cybersecurity measures, including having offline backups and disaster recovery plans in place to minimise disruption during an attack.
These measures aim to not only mitigate the financial cost of ransomware but also to prevent the more severe consequences, such as disruption to critical services and potential loss of life.
State-of-the-art special school gets green light in Kirklees
CPP Group agrees to sell Indian business for £15.7m
Leeds-based CPP Group has agreed terms to sell CPP Assistance Services Private Ltd (CPP India) for £15.7m.
The transaction marks a significant milestone in the group’s strategic transformation. Upon completion, CPP Group will fully exit from its legacy operations and complete its evolution into a focused parametric InsurTech business, Blink.
The proceeds of the proposed sale of CPP India, in addition to £6.1m to be received following the disposal of CPP Turkey, will be used to accelerate investment in Blink’s commercial and technology roadmap, restructure and materially reduce central costs and support working capital requirements.
CPP India is a provider of assistance and protection services, offering a range of white labelled products in collaboration with banks, NBFCs, and financial technology businesses across India. CPP India’s core offerings include Card Protection for lost or stolen cards, FoneSafe insurance for mobile devices, Asset Secure extended warranties for consumer electronics, and LivPlus wellness packages.
With 85% of FY2024 revenue derived from a single partner, limited growth prospects, rising regulatory pressure, and a requirement for further investment, CPP Group believes a sale is in the best long-term interests of both CPP India and the Group.
CPP Group has agreed terms with OneAssist Consumer Solutions Private Limited and Bolttech Device Protection India Private Limited, both privately owned businesses headquartered in India, for the disposal of CPP India.
Simon Pyper, CEO of CPP Group, said: “The sale of CPP India marks another key milestone in our strategic transformation. Alongside the earlier disposal of CPP Turkey, this deal simplifies the Group and strengthens our ability to accelerate investment in Blink.”
Princes Group invests in Royal Liver Building to boost UK presence
Princes, a leading UK food and drink company, has secured ownership of the iconic Royal Liver Building in Liverpool as part of a £60 million investment. This move is part of a broader £83 million real estate strategy that includes a £23 million acquisition of the Symington’s Cross Green site in Leeds.
The acquisition strengthens Princes’ long-standing ties to Liverpool, where the company has been a tenant in the Royal Liver Building since 1982. The building will serve as both the corporate headquarters and a multi-purpose venue for events and collaboration. The purchase eliminates rental costs, enhancing Princes’ financial stability and providing a long-term operational base for future growth.
The Royal Liver Building, a Grade-I listed landmark, represents Liverpool’s maritime heritage and cultural significance. By owning this building, Princes reinforces its commitment to the city and its workforce, with over 400 employees based there.
Additionally, Princes operates 10 sites across the UK, employing nearly 3,000 people. The company is also promoting UK food manufacturing and recently announced plans to feature the UKM stamp on its products. This move underscores Princes’ dedication to contributing to the local economy and securing its future in the UK market.
Water sector could face increased investment scrutiny
The UK government is considering adding the water industry to its list of sensitive business sectors, which would subject potential deals to heightened scrutiny. This move comes amid regulatory reforms aimed at addressing financial difficulties faced by key players in the sector, such as Thames Water and Southern Water.
Currently, 17 sectors, including communications, energy, and data infrastructure, must inform the investment security unit about certain business transactions. The proposal would extend this requirement to the water industry in response to growing concerns over its resilience in an increasingly volatile market.
The Cabinet Office has stressed that this change is not expected to affect a significant number of deals but is intended to strengthen the government’s ability to oversee high-risk transactions. The goal is to align investment security with the evolving landscape of the economy, ensuring the regulatory framework remains fit for purpose.
Recent financial struggles within the sector have underscored the need for tighter controls. For example, Thames Water is currently seeking funding to stabilise its finances, while Southern Water has requested additional support from its Australian owner.
As part of the overhaul, the government also plans to reclassify certain industries, such as semiconductors and critical minerals, into distinct categories to streamline the scrutiny process.
Breck expands presence in Yorkshire with new office acquisition
Breck, a Northern property developer, has acquired a 4,400 sq ft office in Leeds, marking another milestone in its expansion across the North of England. The two-storey office, located in the Millshaw Park industrial estate, will accommodate up to 55 staff members. As part of its growth, Breck is actively recruiting for various permanent roles in Leeds, including quantity surveyors, site engineers, managers, and administrative staff.
With a development pipeline of around 2,000 homes, Breck is focusing on projects across Yorkshire, including affordable housing developments in Bradford. The company is also collaborating with Lloyds Banking Group to transform a former data centre in Pudsey into 124 affordable homes, a project being managed on behalf of Incommunities.
Founded in 2020, Breck is committed to delivering both affordable housing and homes for open market sale. Since moving to its new Lancashire headquarters in 2023, the company has doubled its staff to around 50.
This latest acquisition further solidifies Breck’s long-term commitment to Yorkshire and positions the company for continued growth in the region.
BrewDog to close 10 flagship bars amid strategic shift
BrewDog has revealed plans to shut down 10 of its flagship bars across the UK, citing their lack of commercial viability. The closures, affecting sites in Leeds, York, Sheffield, and other locations, will take place this Saturday. The company has pointed to ongoing challenges in the UK hospitality market, including rising costs, regulatory pressures, and economic conditions, as contributing factors.
The move comes as part of BrewDog’s broader strategy to focus on long-term, profitable growth by streamlining its bar operations. The company stated that, despite the efforts of its staff, the impacted bars could not meet financial targets. BrewDog has pledged to support those affected, with plans to redeploy many employees within the company. Those not retained will be offered redundancy packages and outplacement services.
This restructuring is part of a more focused approach to the hospitality sector, aiming to position BrewDog for sustainable success while addressing the ongoing challenges facing the industry.