Deirdre joins Clarion as senior associate
Fall sees target to halve inflation met
Hospitals Trust gets £250k to enhance heating systems
Hull University Teaching Hospitals NHS Trust has been awarded more than a quarter of a million pounds to improve heating systems at its hospitals.
The Trust is among several organisations to successfully bid for a share of £13.9m from the second round of funding from the Heat Network Efficiency Scheme (HNES). The £251,381 Government grant will enable the Trust to undertake critical upgrades to its heating infrastructure which will not only enhance patient experience but improve energy efficiency and reduce carbon emissions. At Castle Hill Hospital, the allocated funding will be channeled towards a comprehensive overhaul of the heat network, some parts of which are more than 35 years old. The plans include the installation of advanced monitoring and management controls, the replacement and enhancement of insulation, and the introduction of additional meters and heat exchangers. Hull Royal Infirmary will undergo similar improvements to its heating network which dates back to 1973, including an upgrade of the control system and replacement of insulation. By modernising this infrastructure, the Trust which will fund part of upgrade, aims to improve the energy efficiency of both hospitals and reduce wastage.Funding boost for new train station in Bradford
“Bradford is soon to become the UK’s ‘City of Culture’ and our scheme to deliver a brand new station and railway line will help attract tourism, unlock access to neighbouring cities and provide the area with the huge regeneration opportunities it deserves to boost connectivity and economic growth.”
The station will be delivered as part of the government’s Network North pledge to connect major cities in the North of England with more frequent trains, increased capacity and faster journeys. On top of the £400,000 announced today for regeneration plans in the city, a total of £2 billion will be invested to build the station and a new line to deliver a significantly faster, 30-minute journey to Manchester via Huddersfield. Councillor Susan Hinchcliffe, leader of Bradford Council, said: “It is good to see this moving forward, everyone has worked so hard for so long to get this progressed. Improving connectivity for Bradford to the rest of the North is so important to enable greater investment, jobs and opportunities. There can be no successful North without Bradford being successful.”SMEs in Hull and the East Riding to benefit from expert support
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Yorkshire sees greatest fall in insolvency-related activity across the UK in October
Despite ongoing challenges to the UK economy, in October Yorkshire and the Humber put in the strongest performance of all of the regions and nations, seeing a double-digit fall in insolvency-related activity since the previous month.
The latest research from insolvency and restructuring trade body R3, which is based on an analysis of data provided by CreditSafe, shows that in Yorkshire and the Humber insolvency-related activity (which includes liquidator and administrator appointments and creditors’ meetings) fell by 18.9% last month. The number of businesses affected in the region dropped from 291 in September to 236, the lowest number since May.
In October, six other regions and nations also saw a drop in insolvency-related activity since September with Northern Ireland falling by 10%, Wales by 6.5% and the South East by 3.7%. In contrast, the North East experienced a month-on-month rise of 26.8%, followed by Scotland with an uplift of 10.2% and the North West with an increase of 8%.
Looking at the number of start-ups, another key indicator of economic health, Yorkshire and the Humber again performed well with an increase of 14.3% since September, with only Greater London seeing a greater rise in levels of new businesses (up by 15.1%). The poorest performances were from Wales (-0.4%), and from Scotland and the West Midlands (both up by around 6%).
Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds, said: “Despite gloomy forecasts for the UK economy, this month’s research does appear to show a glimmer of light at the end of the tunnel. Although growth is expected to be slow into 2024, interest rates appear to be reaching their potential peak and businesses are fighting hard against the current challenges.
“It is encouraging to not only see Yorkshire and the Humber having the greatest month-on-month fall in insolvency-related activity in October, but also that a total of seven of the 12 regions and nations surveyed also experienced a drop in these type of financial problems. The increase in levels of entrepreneurs starting new businesses both here and across the UK is also a positive sign.
“However, higher interest rates and inflation are likely to continue to impact both corporate investment and consumer spending, and the forthcoming election will also add to business uncertainty. In the midst of such a fragile economic outlook, directors would be well advised to remain cautious and seek professional advice at the first sign of financial difficulties.”