Bank of England cuts interest rates to 4.25%

Tess Egginton
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Bank of England cuts interest rates to 4.25%
The Bank of England has cut interest rates by 0.25% to 4.25%, in line with expectations. The Monetary Policy Committee (MPC), which sets monetary policy to meet the 2% inflation target, voted 5 to 4 in favour of the cut. Two members preferred to reduce rates by 0.5% to 4.0% and two preferred to leave rates unchanged at 4.5%. Alpesh Paleja, deputy chief economist, CBI, said: “Today’s cut to interest rates was widely anticipated, underscoring the Monetary Policy Committee’s continued preference for a gradual loosening of monetary policy. “The big question now is whether this gradualism will persist. Disinflationary risks have intensified over the last couple of months: US tariffs pose a fresh headwind to growth, global oil prices have fallen and, at home, the labour market is cooling. “But heightened uncertainty could keep the MPC from easing off on the brakes too much. Evolving global trade dynamics—and the potential for further restrictions—could affect UK inflation in either direction. And the Committee remain concerned about a decline in domestic supply capacity, which could put further pressure on prices. “With so many moving parts in the global and domestic outlook, the Committee may maintain a cautious stance. But with inflation risks increasingly tilting to the downside, a faster pace of rate cuts may become more palatable to a growing number of members.”

Leeds United’s promotion expected to drive business and tourism gains

April Lara
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Leeds United’s promotion expected to drive business and tourism gains

Leeds United’s return to the Premier League is set to deliver immediate economic benefits for the city, with tourism, hospitality, and retail businesses likely to see increased activity.

The promotion ends Leeds’s two-year absence from top-flight football and positions Leeds among the most commercially valuable clubs in the UK once again. Premier League status comes with heightened international media exposure, larger matchday crowds, and more lucrative sponsorship and broadcasting opportunities that extend beyond the club to local enterprise.

The uplift in footfall, particularly on matchdays, is expected to benefit city-centre venues, hotels, restaurants, and travel operators. Leeds Beckett University’s Carnegie School of Sport has noted the potential for sustained growth in local tourism and brand visibility for the city due to the club’s elevated profile.

The development marks a key moment for the regional economy, primarily as stakeholders across the public and private sectors aim to capitalise on the renewed national and global attention.

Finance For Enterprise appoints new senior business lending manager

Tess Egginton
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Finance For Enterprise appoints new senior business lending manager
Finance For Enterprise (FFE) has appointed Sean Thorn as its new senior business lending manager, bringing over 25 years of industry experience to support the organisation’s continued growth and commitment to helping SMEs access vital funding. Sean’s appointment strengthens FFE’s experienced lending team and reflects its ongoing mission to provide tailored, relationship-driven financial support to ambitious businesses across the region. Sean joins the South Yorkshire-based outfit after running his own successful finance brokerage. During this time, he built a strong brand and secured funding for a range of clients. Prior to this, he spent over a decade at Aldermore Bank PLC, where he held several senior roles and played a key part in developing broker networks across the South of England, contributing to the bank’s record-breaking £1 billion new business milestone in 2018. His earlier career included key business development roles at HBOS and Barclays Asset Finance, where he gained extensive experience in asset-based lending and forged strong relationships across transportation, engineering, and other traditional sectors. In his new role at Finance For Enterprise, Sean will draw on his vast industry knowledge and introducer network to support businesses looking to access finance for growth. He will work closely with brokers, intermediaries, and business owners to deliver tailored lending solutions that help unlock potential and create lasting impact. Commenting on his appointment, Sean said: “On learning about FFE and meeting the team, I was eager to be part of the journey. Having worked across the finance sector and then stepping out on my own, I became disillusioned with the growing focus on automation and profit over people. “FFE prioritises service, understanding and community impact – all values I strongly believe in. I’m looking forward to using my experience to help businesses not just survive but thrive.” Andrew Austwick, managing director at Finance For Enterprise, added: “We are delighted to welcome Sean to the team. His breadth of experience, particularly in the broker market, is a tremendous asset to our organisation. “Sean understands the value of personal relationships and the importance of working closely with businesses to find the right funding solutions. His values align perfectly with our mission to support enterprise and promote economic growth in our communities.”

IntelliAM appoints new chairman

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IntelliAM appoints new chairman
Yorkshire-based AI company, IntelliAM, has appointed Dr Keith Harris as its non-executive director and chairman-elect, as the firm continues to scale its AI-powered solutions across global industrial sectors. The appointment marks a key milestone in the company’s growth strategy and comes at a time of increasing momentum. Dr Harris will formally take on the role of non-executive chairman from 1 July 2025. Dr Harris is a highly regarded investment banker and corporate strategist with over 35 years of experience advising on complex cross-border M&A, equity and debt capital markets transactions, and corporate leadership. He has held senior roles at Morgan Grenfell, Drexel Burnham, and served as chief executive of HSBC Investment Bank. Dr Harris was also the principal owner and chairman of Seymour Pierce Holdings and has held a number of high-profile board positions, including chairman of Wembley National Stadium, and the Football League. He currently serves as chairman of NASDAQ-listed gene therapy company MeiraGTx and executive chairman of Global Connectivity Plc, quoted on AQSE. Dr Harris’s deep expertise in capital markets will be instrumental as IntelliAM accelerates its growth and explores strategic opportunities in the UK and internationally. Tom Clayton, CEO of IntelliAM, said: “We are delighted to welcome Keith to the board. His extraordinary track record in capital markets and board leadership will bring enormous value to IntelliAM as we deepen our relationships with institutional investors and pursue our strategic growth initiatives.” Dr Harris, chairman-elect, added: “IntelliAM is delivering real transformation in a vital sector through the intelligent application of AI. I look forward to working with Tom and the board to support the company’s ambitions and help realise its significant market potential.” The news follows a trio of appointments to the AI firm’s leadership team – seeing Jane Robinson join as VP of business development, Ian Wild as VP of product, and Owain Lewis as VP of data engineering.

Investment platform moves to new Leeds base

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Investment platform moves to new Leeds base
Investment platform interactive investor (ii) has chosen Leeds’ new 24-acre mixed-use district for its new office space in the city. interactive investor will be taking the entire 4th floor of 3 South Brook Street, one of Aire Park’s first buildings. Spanning 23,261 sq ft, the floor will include meeting rooms, collaboration spaces and workspace for its 300-strong Leeds-based team. The business, which has over £70 billion of assets under administration and over 450,000 customers, is the latest addition to 3 South Brook Street. The newly established South Brook Street has already attracted retirement solutions provider TPT and law firm Devonshires as occupiers. Michael Cronin, head of portfolio at Vastint UK, said: “We’re thrilled to bring Interactive Investor to Aire Park to join our growing community of innovative and award-winning tenants. “We are delivering an ambitious and thriving commercial hub at South Brook Street, which will sit alongside and support the wider mixed-use offer in this once in a generation project. “Once complete, Aire Park will feature over 800,000 sq ft of Grade-A offices, creating space for over 10,000 workers and it is fantastic to be able to welcome occupiers, such as interactive investor, who share our vision for the opportunity being created at Aire Park.” Christopher Crooks, chief technology officer at interactive investor, added: “We are delighted to be moving our Leeds operations to Aire Park where we will be able to give our staff a superb working environment with the best-in-class facilities on offer. “We are particularly pleased to be moving to a brownfield redevelopment site and one with such history as the Tetley’s brewery. The move will give us the additional space we need as our business grows and demonstrates ii’s long term commitment to the city of Leeds.” The Aire Park development as a whole will span 24 acres of the city’s South Bank, delivering an expansive eight-acre public park, over 1 million sq ft of commercial space and over 1,350 homes. Savills and Colliers worked jointly on this deal on behalf of Vastint UK, with JLL acting for interactive investor.

DJH doubles estate planning team with acquisition of private wealth unit

April Lara
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DJH doubles estate planning team with acquisition of private wealth unit

Accountancy and professional services group DJH has expanded its estate planning division by acquiring Beswicks Legal’s private wealth business.

The move significantly boosts DJH’s capabilities in wills, trusts, succession planning, probate, tax advice, and powers of attorney. The acquired team relocated to Festival Park in Stoke-on-Trent, bringing to sixteen specialists DJH’s estate planning headcount. Two additional hires are expected in the next quarter.

The deal is part of DJH’s strategy to build a multidisciplinary offering tailored to private clients and business owners seeking integrated legal and financial support. The expanded estate planning service will now operate under DJH Estate Planning, with full access to wider tax, accounting, and wealth advisory teams.

This acquisition marks the firm’s 12th in three years. With backing from private equity firm Tenzing, DJH has scaled its team to 600 professionals. It operates from a growing national footprint that includes offices in Manchester, Leeds, Sheffield, Chester, and Walsall.

Adding Beswicks’ private wealth team enhances DJH’s presence in Staffordshire and Cheshire, positioning it as one of the region’s largest estate planning providers. The firm’s multidisciplinary approach aims to provide continuity and efficiency for clients, particularly in complex or time-sensitive scenarios such as business succession or probate.

Thermocable expands to enterprise zone site in Bradford

April Lara
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Thermocable expands to enterprise zone site in Bradford

Bradford-based manufacturer Thermocable is relocating its operations to a new unit at Leftfield Park, an Enterprise Zone in Thornbury, as part of a long-term growth strategy.

The business, which currently operates out of Pasture Lane in Clayton, has secured a 10-year lease on a 39,435 sq ft warehouse with additional office and reception space. The move is expected to support job creation and accommodate the company’s scaling production and technology needs.

Leftfield Park is a West Yorkshire Combined Authority-backed employment site developed with nearly £10 million in public funding to transform previously unused land. With Thermocable’s relocation, only one unit remains available at the site.

Founded in 1963, Thermocable has evolved into a global leader in linear heat detection systems, serving fire safety and industrial markets. The new premises will enable the firm to maintain momentum on its 10-year growth plan and continue investing in talent and equipment without space constraints.

Alice Ham, general manager, Thermocable said: “We are so proud of how much we have grown over the last couple of years, and taking this next step in our journey is a huge milestone. The dedication and commitment the Thermocable team has to continue to innovate, grow and work smarter is incredible. “This office and warehouse space will enable us to continue with our 10 year growth plan without the need to scrimp on space, or worry about new equipment and recruitment. We are excited to continue to boost Bradford’s economy, bridge industry skills gaps, and continue to raise the bar in manufacturing excellence and fire safety.” Danielle Raunjak, associate director, CBRE, said: “Leftfield Bradford offers excellent strategic access to occupiers looking to benefit from the Bradford and West Leeds localities and labour market. The final unit at Leftfield Bradford is the only unit available of Grade A quality in Bradford, reflecting the continued demand for good quality and strategically located warehouse space in the wider region.” Harry Fullerton, director, JLL, said: “We are delighted to welcome Thermocable to Leftfield Park. Their decision to lease this high-spec warehouse is a testament to the quality of the development and its strategic location. As a global leader, Thermocable’s presence adds significant value to the park and the wider Bradford area. “Their commitment to innovation and growth aligns perfectly with the vision we had for Leftfield Park as a hub for forward-thinking businesses. This letting not only showcases the continued demand for premium industrial space in Bradford but also highlights the area’s appeal to cutting-edge manufacturing companies. We’re excited to see how Thermocable will use this space to further their impressive growth and contribute to the local economy.” Leeds-based DHP represented Thermocable, CBRE, Carter Towler and JLL represented the landlord.

UK construction slowdown continues amid client caution and economic headwinds

April Lara
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UK construction slowdown continues amid client caution and economic headwinds

The UK construction sector contracted for the fourth consecutive month in April, with firms facing persistent economic uncertainty and reduced client demand.

According to the latest S&P Global UK Construction Purchasing Managers’ Index (PMI), the industry recorded a score of 46.6 in April, marginally higher than March’s 46.4 but still below the 50 mark that signals growth. While the pace of contraction eased slightly, the sector remains in decline.

The report highlighted broad hesitancy among clients to commit to new projects, particularly amid ongoing global economic instability. Residential building activity slipped again but showed some resilience with a reading of 47.1, marking its strongest performance in 2025. Civil engineering output remained subdued at 43.1, driven by a shortfall in new contracts to replace completed work.

Commercial construction was the weakest performer, with output falling faster since May 2020, reflecting rising caution in the business sector.

Evri moves into flower delivery with new partnership

April Lara
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Evri moves into flower delivery with new partnership

Parcel delivery company Evri has entered the floral sector through a new logistics partnership with Eflorist, a leading UK-based online florist and part of the Euroflorist Group.

The move marks Evri’s first collaboration with a flower delivery brand. Eflorist, which distributes over one million floral arrangements annually, will now leverage Evri’s national network and fulfilment capabilities to support its seven-day, next-day delivery promise.

This partnership comes after a strong start, with delivery performance exceeding targets during the high-demand Mother’s Day period. Since teaming up with Evri, Eflorist has also reported improving its Net Promoter Score, indicating better customer satisfaction.

Evri, which delivers over 800 million parcels a year and serves over 1,600 UK retail brands, will support Eflorist with access to its delivery infrastructure, including over 10,000 ParcelShops and lockers, to enhance speed, flexibility, and value.

Huddersfield’s transformative ‘Our Cultural Heart’ development starts to take shape

Tess Egginton
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Huddersfield’s transformative ‘Our Cultural Heart’ development starts to take shape
Work on the first phase of Our Cultural Heart – Kirklees Council’s flagship regeneration scheme in the heart of Huddersfield town centre – is progressing well, with demolition now complete and the transformation of the former Queensgate Market building visibly gaining momentum. Creating a new cultural and social destination for both residents and visitors, Phase One includes a modern community library hub, vibrant new food hall, and a large public square. Construction work began in summer 2024, including the partial demolition of the Grade II Listed former Queensgate Market building. Throughout this process, heritage preservation has remained a key priority, with renowned artworks by sculptor Fritz Steller and other historic features carefully removed, cleaned up, and securely stored ready for reintegration into the final design. With demolition now complete, the vast paraboloid roof structures of the former market have been fully revealed. Installation of new glazing to connect these iconic forms is underway, making the roof watertight while allowing natural light to filter through the future food hall venue from different angles throughout the day. In the coming months, structural steelwork and the construction of the main elevations will begin to take shape – revealing the scale and footprint of the library hub and food hall, and providing the public with a tangible sense of what’s to come. Phase One is expected to reach practical completion in spring 2026, with a full public opening of the food hall and library hub in summer 2026. The process of selecting an operator for the food hall is well underway, with an announcement anticipated later this year. Councillor Graham Turner, cabinet member for finance and regeneration, said: “We’re proud to see the first phase of Our Cultural Heart progressing so well and are excited to be transforming this iconic space into something truly special for Huddersfield and the wider Kirklees borough. “The new library hub, food hall and public square will not only celebrate our town’s unique history but also create a vibrant, modern destination for people to enjoy for generations to come.” Phase Two of the Our Cultural Heart masterplan, which received full planning approval last month, will see the former library and gallery building on Princess Alexandra Walk sensitively refurbished to house a major museum and art gallery for the region. While some early exploratory and preparatory works are already taking place, construction on this next phase will begin following the completion of Phase One in summer 2026. “The new museum and art gallery will become a key cultural destination for Yorkshire and showcase the huge mix of talent we have across the region,” added Councillor Turner. “Not only will this project attract more visitors to our town centre and boost Kirklees’ economy, it will also ensure the long-term preservation and vitality of one of our most cherished buildings. “Huddersfield has a bright future, and I hope everyone is enjoying watching the transformation unfold.”
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