UBS has recruited a former Morgan Stanley senior vice president to join its Perth wealth management team as the bank looks to grow its presence among WA’s affluent clients.
Friends of Mudford Action Group launches crowdfunder to cover legal costs
Daniel Mumby and Local Democracy Reporter
05:00, 12 Mar 2026
A v iew of the Up Mudford urban extension site in Yeovil(Image: Somerset Council)
The fate of a major Yeovil housing development will be decided by a judge in Bristol as a judicial review against the plans move forward.
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The Abbey Manor Group secured outline planning permission from Somerset Council in October 2024 to deliver the Up Mudford urban extension north of Primrose Lane, comprising 765 homes, commercial space, a community hub and an extension to Primrose Lane Primary School.
The legal agreements to deliver the development were finally signed off by the council in mid-July, including a series of walking and cycling improvements to the A359 Mudford Hill and Lyde Road.
Mudford Parish Council was given the green light by the High Court in December 2025 to pursue a judicial review against the decision, leaving this new estate and a neighbouring development of 252 homes at Sock Hill hanging in the balance.
The Friends of Mudford Action Group (FOMAG) has now confirmed the case will be held at Bristol Crown Court on April 28 – with a crowd-funder being launched to cover £15,000 of associated legal costs.
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The village of Mudford currently comprises 339 homes – meaning the Primrose Lane development, and its immediate neighbour, could quadruple the parish’s population within the space of a decade.
The parish council raised the following issues in its submission to the High Court:
Flooding risk: Mudford already experiences “severe flooding”, with the parish council alleging that the planned attenuation ponds at the Primrose Lane site will not be deep enough to slow surface run-off from the new homes
Traffic impacts: the council claims there will be “a substantial rise in vehicle movements on already pressured local roads”, with limited public transport options currently in place
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Lack of affordable housing: the parish council feels the development “does not significantly address the local need for genuinely affordable homes” – with the Primrose Lane site only delivering 15 per cent affordable homes (the equivalent of 115 properties)
Insufficient infrastructure: the parish council has concerns about “the capacity of local services”, along with the pressure on the existing road network and drainage systems
Historic anthrax contamination: part of the Primrose Lane site were used as “burial or disposal locations” for animals infected with anthrax during the 1950 and 1960s – with the parish council arguing that testing may not have been “sufficiently thorough” to ensure the public were no longer at risk
Severe landscape change and loss of rural identity: the parish council believes the developments would “transform open countryside into continuous housing, leading to the complete loss of Mudford’s rural character”.
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View of the Up Mudford urban extension site in Yeovil(Image: Somerset Council)
FOMAG chairman James Cary confirmed the hearing date on the campaign group’s official Facebook page on Friday (March 6). He said: “The judicial review will be heard on April 28 in Bristol.
“You will know that judicial reviews are expensive – and it just got real.
“Whatever happens on April 28, the work of FOMAG will need to continue.
“We have already pledged £5,000 to Mudford Parish Council to help with legal costs. And so our immediate goal is to raise that £5,000 to replenish FOMAG’s coffers and, ideally make another contribution.”
The group has raised £790 as of Wednesday morning (March 11), with the goal being to secure £15,000 by July 1.
Mr Cary added: “Why not be among the first to get this campaign off to a flying start?
“That way, FOMAG can continue to scrutinise and challenge these enormous planning decisions and make local voices heard.”
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Revised plans for the first phase of the Sock Hill development (comprising 109 homes) were put forward by Bloor Homes South West in early-December 2025.
Somerset Council is expected to determine this application by the summer – around the time the judicial review result is anticipated.
To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.
Kush Bristol will be located in the former home of The Mint Room on Clifton Road
Birmingham chef Aktar Islam is expanding into Bristol
A Michelin-starred chef is poised to launch a new Indian restaurant in Bristol. Aktar Islam, the holder of two Michelin Stars, is preparing to officially unveil his latest venture, Kush Bristol, in Clifton, though an exact opening date has yet to be announced.
The announcement follows a special supper club series that was promoted on OpenTable in January, and now the shopfront on Clifton Road appears primed for an imminent launch. The new eatery will occupy the former premises of The Mint Room, another Indian restaurant which shut its doors in 2024 after nearly a decade, reports Bristol Live.
The renowned chef, who has featured on programmes such as Saturday Morning Kitchen and Great British Menu, already operates a two Michelin star restaurant in Birmingham, named Opheem. Before the supper club series in January, Aktar and his team said: “Bristol is all about community, and these evenings are rooted in the way Indian meals are meant to be enjoyed: communally, with shared plates, shared stories, and the kind of warmth that turns fellow epicureans into friends.
“Growing up, food was never just food – it was ritual. It was laughter around the table, debates over spice levels, and the comfort of dishes that tasted like home. That’s the spirit we’re bringing to Kush and to these intimate evenings, before we officially launch.
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“Each night will showcase a generous feast inspired by recipes from across the Indian subcontinent. Some dishes will feel familiar, others will be rare gems – regional delicacies carrying the soul of a place, a people, a memory.”
The Kush by Aktar Islam Instagram account published its inaugural post back in September 2024, mere months following The Mint Room’s closure, with the simple message: “Something exciting coming soon…”
A post on the Curry Society UK Instagram page revealed The Mint Room receiving fresh signage displaying ‘Kush by Aktar Islam’ on the window. The Curry Society, who dubbed Aktar Islam the ‘enfant terrible’ of the Indian culinary world, added: “This is big news and all our friends in the restaurants game in and around Bristol are all so excited, without exception. Welcome to Bristol, Chef Islam!”.
Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at William P. Hobby Airport in Houston, Texas, US, on Monday, March 9, 2026.
Mark Felix | Bloomberg | Getty Images
The surge in fuel prices since the U.S. and Israel attacked Iran nearly two weeks ago is already driving up airfare. Consumers’ appetite for travel this year will dictate just how much.
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Cathay Pacific on Thursday said it would roughly double fuel surcharges on tickets starting March 18.
Earlier this week, Australia’s Qantas said it israising fares to help cover its costs, Scandinavian Airlines said the “unusually rapid and substantial increase” in fuel prompted it to raise prices, and Air New Zealand pulled its financial outlook “until fuel markets and operating conditions stabilise,” adding that it has made “initial fare adjustments.”
“If the conflict leads to continued elevated jet fuel costs, the airline may need to take further pricing action and adjust its network and schedule as required,” Air New Zealand said.
U.S. airline CEOs and other executives will update investors on Tuesday at the J.P. Morgan Industrials Conference in Washington, D.C.
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Analysts expect an earnings hit at least in the first quarter if not the first half of the year, though the impact will depend on how long higher fuel prices last.
“We think a hit to 1Q EPS appears almost certain at this point,” UBS airline analysts Atul Maheswari and Thomas Wadewitz wrote in a note last week.
United Airlines CEO Scott Kirby said last week on the sidelines of an event at Harvard University that higher fares were likely on the way because of the surge in fuel prices.
Kirby said travel demand is still strong, however. Two other senior airline executives at U.S. carriers, speaking on the condition of anonymity because they weren’t authorized to speak to media, also said travel demand has held up. If those trends persist, it could give airlines more pricing power, but that will depend on the war’s duration.
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“Airlines never met a higher fare they didn’t want,” said Scott Keyes, the founder of flight-deal company Going, previously known as Scott’s Cheap Flights.
So what should consumers do?
Keyes said travelers can’t lose by booking early, as long as they’re not buying restrictive basic economy tickets. That way, customers can try to exchange or cancel their tickets and buy cheaper ones if airfare ends up falling.
“If you book a $500 summer flight today, and two weeks from now the price drops to $350, you can call up the airline and get the $150 difference back as a credit. Heads you win; tails the airlines lose,” he said.
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Read more about the Middle East conflict’s travel impact
Fuel costs
Jet fuel is airlines’ biggest cost after labor, accounting for about a fifth or more of expenses, depending on the airline.
United alone spent $11.4 billion last year on fuel, at an average price of $2.44 a gallon, according to its annual report securities filing. U.S. jet fuel on Wednesday was going for $3.78 a gallon, according to Platts.
Jefferies airline analyst Sheila Kahyaoglu said in a note Thursday that she expects “the most acute financial impact to airlines from surging oil prices to be in the next 30-90 days as airlines have been booking yields for close-in flights assuming a much lower fuel price and carriers cannot retroactively raise fares.”
She said Delta Air Lines and United, which produce most U.S. airline profits, are better positioned than other carriers because of their high-end demand. Risks to demand, particularly for more price-sensitive customers, include the recent jump in gasoline prices.
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Jet-fuel have more than doubled in some regions since the first U.S.–Israel attacks on Iran on Feb. 28.
Line Service Technician Austin Beadles refuels a plane using a Federal Aviation Administration approved unleaded aviation fuel at Sheltair at Rocky Mountain Metropolitan Airport in Broomfield on Tuesday, Feb. 17, 2026. Sheltair, a fixed-base operator, will offer the Swift UL94 unleaded aviation alternative gas to pilots. (Photo by Matthew Jonas/MediaNews Group/Boulder Daily Camera via Getty Images)
Matthew Jonas | Boulder Daily Camera | MediaNews Group | Getty Images
Oil prices surged to roughly four-year highs after the initial attacks. Energy prices have since swung wildly since then as traders assess just how long the war — and all the logistics headaches — could last.
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U.S. jet fuel prices were up more than 60% from before the attacks to a peak last week, according to pricing data assessed by Platts. Jet fuel can rise by a greater degree than crude because it includes the price of processing and ever-more difficult and costly transportation from oil fields to refineries to airplane fuel tanks.
On Feb. 27, the day before the before the attacks, the cost to fill the fuel tanks of a Boeing 737-800 would have would have been about $17,000 based on average prices in New York, Houston, Chicago and Los Angeles, compiled by Argus. Less than a week later, on March 5, it would have cost more than $27,000, based on Argus prices. On Tuesday, after oil prices fell following President Donald Trump‘s comment that the Iran war could end “very soon,” it would have cost around $23,000.
After prior fuel price surges, airlines started making customers pay for bags — or charging them more. Even seemingly minor changes in weight can save airlines hundreds of thousands, if not millions of dollars, a year in fuel. United in 2018 changed to a lighter paper stock for its in-flight magazine. In 2014, American Airlines said it would switch to digital manuals for flight attendants, following changes for pilots. It said at the time that it would save $650,000 in fuel a year.
All about capacity
High fuel prices don’t automatically mean higher fares. The ongoing strong demand for travel is a key factor and so is capacity, or the amount that carriers fly.
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If airlines raise fares and passengers balk, then capacity will likely go down in the form of fewer frequencies on a route or broader cuts, in more severe cases.
“Airlines love to say fuel is expensive so you have to pay more. What they’re doing is they’re setting the expectation,” said Courtney Miller, founder of Visual Approach Analytics, an airline-industry advisory firm. “They price to prevent empty seats.”
If fuel prices come down, “they’re not suddenly saying ‘We’re making too much money,’” Miller added. “But they are likely to add another flight.”
Capacity, especially to and from the Middle East, is constrained because of airspace closures and other stop-and-start flights. More than 46,000 flights have been canceled to and from the region since the Feb. 28 attacks began, aviation-data firm Cirium said.
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Those constraints are driving up fares as well as demand, as United’s Kirby said, from regions where customers are looking for alterative routes.
Airspace closures are also requiring airlines to take longer, more fuel-guzzling routes, but many have strong demand, too.
Qantas, for example, told CNBC that its flight from Perth, Australia, to London is temporarily stopping in Singapore to refuel, allowing it to pick up another 60 customers, and that its Perth-London and Perth-Paris routes are more than 90% full this month, 15 percentage points higher than normal for this time of year.
Finnair said the increased demand for travel to Asia from Helsinki, Finland, has pushed up its prices by 15% on average.
“The impact of higher fuel prices will be reflected in market fares with a delay, as airlines typically hedge at least part of their fuel purchases,” it said.
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Airlines have been grappling with airspace closures for years, including from on-and-off conflict in the Middle East and since Russia’s 2022 invasion of Ukraine, that have left a large swath of airspace out of use for many carriers.
‘You can’t dry up an airport’
Most U.S. airlines no longer hedge fuel costs, or lock in prices using futures and other securities. Southwest Airlines was one of the last holdouts, and it quit last year. A spokesman for the Dallas-based airline told CNBC that Southwest currently has “no plans” to resume hedging.
That leaves U.S. carriers more susceptible to price swings.
Travelers at William P. Hobby Airport in Houston, Texas, US, on Monday, March 9, 2026.
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Mark Felix | Bloomberg | Getty Images
Kirby said there would likely be an impact to United’s first-quarter results and to the second quarter if the war — and blockage of the Strait of Hormuz, a key shipping channel — persists. However, he said demand was increasing sharply from regions that have been affected by the thousands of flight cancellations and airspace closures in the Middle East.
Because of airlines’ upbeat outlooks on demand to start the year, “the environment is conducive for passing along fare increases. Further, should jet fuel stay higher for longer, it should help push off-peak capacity lower,” supporting unit revenues, UBS analysts said.
Rick Joswick, who heads of near-term oil research and analytics at S&P Global Energy, told CNBC that “demand for jet fuel is inelastic. You cannot shortchange an airport. If the cost of jet fuel goes up, it’s not like the plane will choose not to fly that day.
FILE PHOTO: People queue during Black Friday sales in front of a Foot Locker shoe store, in Zurich, Switzerland November 27, 2020.
Arnd Wiegmann | Reuters
Dick’s Sporting Goods said Thursday it saw a better-than-expected holiday quarter, but the retailer issued weak profit guidance for the year ahead as its acquisition of Foot Locker continues to weigh on its bottom line.
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The company is expecting fiscal 2026 adjusted earnings per share to be between $13.50 and $14.50, weaker than the $14.67 analysts had expected, according to LSEG.
Dick’s said it expects Foot Locker to get back to both profit and sales growth during the year, but it’s still doing the costly work of clearing through stale inventory and closing unproductive stores that it acquired during the merger last year.
The company expects those efforts, along with other expenses associated with the deal, to cost between $500 million and $750 million. It said around $390 million of those costs were recorded in fiscal 2025, with more expected in the current fiscal year.
In an interview with CNBC’s Sara Eisen, executive chairman Ed Stack said the company is “basically done” with its efforts to rightsize the Foot Locker business.
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“In retail you’re never really done cleaning out the garage,” said Stack. “Anything else going forward is normal course of business.”
Dick’s beat Wall Street’s expectations on the top and bottom lines for the three months ended Jan. 31. Here’s how the company did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
Earnings per share: $3.45 adjusted vs. $2.87 expected
Revenue: $6.23 billion vs. $6.07 billion expected
Dick’s posted a net income of $128.3 million, or $1.41 per share, a 57% decline from $299.97 million, or $3.62 per share, a year earlier.
Sales rose to $6.23 billion, up from $3.89 billion a year earlier, when the business didn’t include Foot Locker.
Six months ago, Dick’s acquired Foot Locker in a $2.5 billion deal, and the combined entity is now one of the largest distributors of products from key athletic brands like Nike, Adidas and New Balance. The merger gave Dick’s an in with a new type of customer, allowed it to expand its international presence and gave it more negotiating power with brands at a time when athleticwear companies are less reliant on wholesalers.
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While the acquisition led to a 60% increase in sales during the fiscal fourth quarter, it also saddled Dick’s with a business that’s underperformed for years and earns most of its revenue from a sprawling store footprint heavily concentrated in malls.
Since acquiring the business, Dick’s has worked to clcose poor performing stores. In fisal 2025, it shuttered 57 stores globally across Foot Locker, Champs, Kids Foot Locker and WSS.
It’s started a pilot program with 11 Foot Locker stores dubbed “Fast Break” that’ll test changes in products and the in-store presentation. So far, Dick’s said the pilot has delivered “standout performance” through improved storytelling and presentation and a streamlined assortment. The retailer plans to expand the model later this year.
Prior to the acquisition, Foot Locker’s former CEO Mary Dillon had been leading an aggressive store transformation strategy that sought to move shops to off-mall locations and renovate existing doors with a refreshed concept. It’s unclear if Fast Break will be different from the strategy Foot Locker already had underway.
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Dick’s said it expects to see an inflection in Foot Locker’s comparable sales and profitability beginning with the back-to-school shopping season. For the full year, it expects Foot Locker comparable sales to grow between 1% and 3%.
The online travel agent has scrapped its profit guidance for the forthcoming year after warning that conflict has sparked a sharp slowdown in bookings to Turkey, Greece, Cyprus and Egypt
Simon Hunt www.cityam.com
10:16, 12 Mar 2026Updated 10:16, 12 Mar 2026
On the Beach says bookings to countries including Turkey and Cyprus have fallen(Image: PA)
On the Beach has scrapped its guidance for the coming year after cautioning that Middle Eastern tensions have triggered a marked decline in bookings.
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The online travel agent had previously projected pre-tax profit of between £39m and £43m.
“Whilst the group has limited exposure to destinations in the Middle East, it has experienced a significant slowdown in demand following the onset of conflict in the region, particularly to destinations such as Turkey, Greece, Cyprus and Egypt,” the Manchester-based firm said.
“The timing of when the conflict will end and the shape of recovery in demand to these destinations are unknown.”
On the Beach has been “working round the clock to support directly impacted customers in resort and to enable a return home as soon as possible,” chief executive Shaun Morton said.
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Shares in On the Beach plummeted as much as 14.5 per cent to 165p on Thursday morning, though recovered a little later. The stock has dropped by more than a quarter since the beginning of the year, as reported by City AM.
The development adds On the Beach to an expanding roster of London-listed travel firms that have endured steep share price falls following the eruption of conflict in Iran.
Budget carrier Easyjet has witnessed its shares tumble by a fifth over the past month, whilst package tour operator Jet2 has declined by 11 per cent.
Oil prices surged back above triple figures on Thursday morning, climbing as much as nine per cent in Asian markets following reports that two tankers were hit in the Gulf. An Iraqi news agency reported that 38 crew members have been rescued from the vessels whilst one person has perished.
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This follows Iran’s pledge to block “one litre of oil” from leaving the region until the strikes from the US and Israel cease. The Israeli military confirmed it had conducted an “extensive” wave of air strikes targeting Tehran overnight.
The International Energy Agency (IEA) intervened on Wednesday to stabilise oil prices through the release of a record 400 million barrels from emergency oil reserves in an attempt to contain surging prices on Wednesday – though market response remained subdued.
The IEA’s executive director Faith Birol stated on Wednesday the market “challenges we are facing are unprecedented in scale”.
Yet Brent crude – the international benchmark for oil – scarcely responded to the measure, remaining steady above the $90 threshold. Meanwhile, the FTSE 100 reversed to a decline, dropping 0.5 per cent during the day’s trading.
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Analysts at investment bank Macquarie have suggested the continuing tensions surrounding the Strait of Hormuz could drive the price of Brent crude to “$150 or higher”.
“The timeline for an extremely large oil price move is very short,” they stated, noting that several weeks of closure for the strait – through which approximately a fifth of the world’s oil supply passes – would trigger a “domino effect”.
Bookings on the up Prior to the latest upheaval, On the Beach recorded a 10 per cent rise in bookings during the six months ending February, with reservations from returning customers climbing 19 per cent.
The firm noted that an increasing number of users are arranging holidays via their mobile devices, with a 58 per cent surge in bookings made directly through the app.
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On the Beach is also anticipating revenue from AI chat tools, having recently submitted its app to ChatGPT.
Australian shares have nosedived on reports Iran has attacked two oil tankers in Iraqi waters, snuffing de-escalation hopes and slingshotting crude prices skyward.
The South Tyneside-based firm says it remains to be seen how the cost of living crisis will continue to impact its market
Be Modern’s site in Jarrow(Image: Google Maps)
Losses have widened at South Tyneside furniture maker BeModern amid cost pressures, though bosses say cost reductions and new products are helping.
The Jarrow firm, which has been trading for more than 60 years, produces a number of brands including Diamond Luxury Fireplaces, Atlanta Bathrooms, Elgin & Hall and Prysm for the UK market. The fireplace, stoves and bathroom furniture specialist operates from 250,000 sqft production and warehouse space employing about 236 staff.
Newly published accounts for Be Modern Limited show it sustained operating losses of more than £1m in the year to May 10 2025, up from £940,359 the year before. Gross profit fell from £10.8m to £9.8m as turnover also slid from £20.8m to £19.2m.
Bosses said that despite a slight fall in gross margin, they were pleased with efficiency improvements which meant it was less than expected. That came amid rises in labour and materials costs, as headcount was reduced from 254 to 236.
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Writing in the accounts, director Stephen Grimes said: “It remains to be seen how the continuing cost of living crisis caused by an unprecedented increase in the cost of power, fuel, interest rates and basic foodstuffs will impact on the demand for the company’s products over the coming year should customers reign in their discretionary expenditure in response to these cost pressures.
“The company itself is not immune to such cost pressures within the supply chain in terms of the cost and supply of labour across all sectors and continued significant increases in the cost of raw materials means that unavoidably the company may have to pass these on to customers over the 12 months ahead if margins are to be maintained.
“The lowering of the threshold at which employers National Insurance contributions becomes payable and the increase in the percentage, along with the rise in minimum wage in the 2024 Budget had a significant impact upon the company overheads and manufacturing costs.”
Mr Grimes said directors were aware of the challenges and that Be Modern continued to invest in new product ranges and ways to grow, as well as boosting service levels for existing customers.
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He added: “The measures taken by the directors to reduce the company’s cost base in the latter part of the 2025 financial year and the introduction of new products appear to have had a positive impact on the current year as the half year results indicate a significant improvement on the previous year. Whilst this gives cause for optimism the directors will continue to explore further cost saving and commercial opportunities going forward.”
To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.
Stock-market indexes end mostly flat, with the Dow Jones industrials and the S&P 500 down slightly. The Nasdaq composite edges higher. Boeing shares slide after the company announces delivery delays for its 737 Max aircraft. And Exxon Mobile stock slips after the company says it is moving its corporate headquarters to Texas from New Jersey.
