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Top story
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Rail improvement would transform economy - Riordan
Improving rail links between Leeds and Manchester should be Yorkshire's top transport priority, say business and political leaders. Tom Riordan, the new chief executive of Leeds City Council, said that if the journey time was cut to half an hour it would "transform" the regional economy and the whole dynamics of the relationship between the cities.
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Deals
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Connaught sale saves 2,500 jobs
The administrator of Connaught Partnerships, the Leeds-headquartered subsidiary of social housing group Connaught, has sold the majority of the company’s contracts and related assets to Lovell Partnerships, the affordable housing division of Morgan Sindall for £28m. Approximately 2,500 employees will transfer to Lovell as part of the deal.
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Faradion sparks to life after FY investment
Faradion, a battery manufacturer for the electric vehicle market, has become the latest company to receive an investment from Finance Yorkshire. The Sheffield start-up secured a five-figure Seedcorn Fund investment which will finance its aim to develop cheaper high-capacity batteries.
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Business
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BAE to axe jobs
BAE Systems has announced potential job losses within its Military Air Solutions division, with 212 employees at the company’s Brough site in East Yorkshire at risk. The job losses at Brough undermine BAE’s claim in July that workers at the site would benefit from the heralded £500m order for Hawk aircraft to be built under license in India.
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Investment drives Rixonway to record year
Dewsbury-based Rixonway Kitchens has reported a record financial performance for the year to 28 February. Revenue at the kitchen manufacturer increased by 23 per cent to £29m and the company cited efficiencies resulting from its investment in technology as a key driver behind its performance.
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Business has lack of confidence in justice system - FSB
More than two-thirds of small businesses have been the victim of crime over the past 12 months, costing them up to £3,000. That’s according to a report by the Federation of Small Businesses (FSB), which says more than a third of the businesses affected do not report the crimes.
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Freedom Back expands
Leeds-based Freedom Back Clinics is expanding into Manchester and London by opening two clinics in the cities. The business, which provides a variety of medical treatments, said it plans to open a further five clinics next year in high street locations across the UK.
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Business Tourism
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Academy unveiled at MADE
Yorkshire and the Humber’s first National Enterprise Academy has been officially opened in Sheffield as part of MADE: The Entrepreneur Festival. The academy, at the new £60m Sheffield City College, was opened by Dragons’ Den star Peter Jones and business secretary Vince Cable.
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Record entries for Yorkshire Lawyer Awards
The Yorkshire Lawyer Awards has received a record number of entries for its decade anniversary, with the winners set to be revealed on 6 October at the Queens Hotel in Leeds. A total of 16 awards will be presented, including the Yorkshire Lawyer of the Decade accolade.
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Property
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Newey & Eyre takes 10,000 sq ft at President Park
Newey & Eyre, one of the UK’s leading electrical wholesalers, has leased 10,000 sq ft at President Park in Sheffield from pension fund manager Colliers Capital. In a deal brokered by CB Richard Ellis (CBRE) in Sheffield on behalf of Colliers Capital, Newey & Eyre has signed a ten-year lease at £49,500 per year.
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