Elton Reservoir, Walshaw and Simister Bowlee plans also feature school, local centres and roads

Political bosses have signed off on three masterplans that will see thousands of new homes built in Bury’s countryside.

The documents shape the council’s vision, hopes and ambitions for three huge developments. The schemes, at Elton Reservoir, Walshaw and Simister Bowlee, will see swathes of fields concreted over for around 6,300 new homes.

There could also be three new primary schools, five local centres, a new Metrolink tram stop and two major new roads. The three plans cover 406 hectares of land.

The principle of the developments were approved through the Greater Manchester Places for Everyone allocations which was adopted in the region following examination by the Government’s planning inspectorate.

Leader of Bury council Eamonn O’Brien argued at last week’s cabinet meeting that the masterplans were a way of increasing the Town Hall’s control over those developments, saying that, without them, there is a risk of applications coming forwards ‘below’ council ‘expectations’. The documents will act as guiding principles for the scheme, setting out expectations such as new infrastructure, environmental mitigation and housing provision.

He told elected members: “Ultimately, it’s about trying to win those arguments for if these things are not delivered. We then have the democratic right and power to push back on that and reject those.

“I view these as positive frameworks. I think they are about ensuring places come forward properly with consideration of residents, traffic, flooding, biodiversity. That doesn’t mean we can have no impact on anyone anywhere, but it is about […] delivering alongside it the best possible suite of infrastructure.”

However, not everyone attending the meeting was convinced. One heckler in the public gallery could be heard shouting ‘traitors’ as councillors voted to adopt the masterplans. She had earlier accused elected members of backing the plans in a bid to ensure development ‘does not encroach on their wards’.

The woman said: “If it’s on our doorsteps, it’s fine. The minute it’s on councillors’ doorsteps, they don’t want it.”

Criticism was also expressed by the leader of the authority’s Conservative Group, Shahbaz Arif, who said: “The Conservative Group has always believed that our greenbelt should be protected […] Once greenbelt has been built on, it is gone forever.

“We have listened to local residents and we share their concerns about the impact on traffic, local services and the loss of our greenspace.”

Labour councillor Charlotte Morris said she had argued against Walshaw site being included in the Places For Everyone policy. She added: “We do have to be pragmatic in these scenarios.

“A plan is better than no plan […] My plea, my challenge, my point is that we all need to hold developers’ feet to the fire on this. If we agree [the plans] tonight, we’re saying ‘we back this because a plan is better than no plan’ and we want to see that plan delivered with the infrastructure that’s going to support this development in our communities.”

Planning permission will need to be granted at each site before any development can take place. These will need to prove the scheme will not have unacceptable impacts, including on nature, existing and future residents, local services and the local road networks.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

Midlands group appoints Matt Kirk as property director for the North West

A growing Midlands property management firm has opened an office in Manchester city centre as it pushes into the North West.

Principle Estate Management already employs more than 100 at its bases in Birmingham and London. Now the business says it has invested more than £300,000 into its office in Piccadilly and to recruit four people to lead its rollout.

They include Matt Kirk, new property director for the North West, who has two decades’ experience in property and led and built up Rendall & Rittner’s Northern operation. He has now been tasked with growing Principle in the North West to manage more than 5,000 homes by 2028.

Principle was founded in 2018 to offer property management services and today looks after more than 26,000 units nationally. Its focus is on residential contracts, with high-profile schemes including Charlesworth House and Portman Towers in London, but it has also seen recent commercial property wins including at 12 St George Street in Mayfair.

Joe Jobson, joint managing director at Principle, said: “Manchester boasts outstanding buildings, a growing residential market and real opportunities to make a difference to both clients and residents.

“We know from working in Birmingham and London how important it is to have a local presence on the ground, so the decision to open a dedicated offer in the North West was a natural one to make.

“Taking office space in central Manchester puts us right at the heart of life in the city and we have ambitious targets to grow revenue in the region to £2.5m within three years.”

Matt Kirk, property director for the North West, said: “I’m really excited about this new opportunity with Principle and we are already gaining traction in the region, with a new instruction on Urban Splash’s Albert Mill conversion in the heart of Manchester.

“We are really pleased with this early show of faith and look forward to working with the residents to positively impact their homes and their community and, in doing so, grow our reputation locally”.

Brett Williams, managing director of Principle, said: “This office is an important milestone for our business. We’ve taken the time to find the right person to lead our growth in the North West, and now we have the right base to support him and the team he’s quickly building.

“The Piccadilly office will manage a growing portfolio of residential and mixed-use developments across Manchester and the wider region, with the company continuing to win new contracts through its existing offices in Birmingham and central London.

“We understand that the landscape of property management is ever changing. Our role has never been about bricks and mortar but about the people in the communities we service and the positive impact we can have on their everyday lives. This is the vision and commitment we are bringing to Manchester and beyond.”

The New York Times’ Connections puzzle returned Wednesday with its 1,123rd edition, a grid that puzzle trackers widely described as one of the trickier challenges of the week, built around a deliberate web of overlapping themes involving woodworking, literature, guitar technique and classic phrase completion.

Connections, edited by Wyna Liu, asks players to sort 16 words into four groups of four based on a shared theme, with categories color-coded by difficulty from yellow, the easiest, through green and blue, up to purple, typically the most conceptually demanding. Players are allowed four incorrect guesses before the puzzle ends, and the game has grown into one of the Times’ most widely played daily offerings, trailing only Wordle in overall popularity among the publication’s expanding suite of word and logic games.

Wednesday’s grid featured the following 16 words: GRATE, PLANE, SHAVE, SLIVER, DRIFT, PLOT, THEME, THREAD, PICK, PLUCK, STRUM, TAP, CARDS, LORDS, WAX and WORSHIP. According to multiple outlets that covered the puzzle, the grid was constructed with an unusually high density of deliberate misdirection, with several words plausibly fitting more than one category depending on how a solver initially interpreted them.

For those seeking a nudge before diving into the full solution, outlets circulated general hints without revealing the specific groupings. The yellow category was described as referring to verbs or tools that produce very thin pieces of something. The green category was hinted at as words describing a recurring or central idea within a work, often in a literary or narrative sense. The blue category was described as four different ways to make sound on a stringed instrument. The purple category, as usual the trickiest of the four, was hinted at as words that commonly follow the phrase “House of.”

For players ready for the complete answers, puzzle number 1,123 broke down as follows.

The yellow category, titled “Cut Into Thin Pieces,” included GRATE, PLANE, SHAVE and SLIVER. Each word describes an action or tool associated with reducing something into thin slices or shavings, whether grating cheese, planing wood, shaving a surface, or slivering an ingredient. Puzzle commentary described this group as a relatively accessible entry point, with GRATE in particular helping many solvers quickly recognize the underlying pattern.

The green category, titled “Motif,” grouped together DRIFT, PLOT, THEME and THREAD. Each of these words can describe a recurring idea, narrative element or central concept running through a work of literature, film or other storytelling medium. Puzzle trackers flagged this category as particularly deceptive, noting that THREAD in particular tempts solvers to interpret it literally, in a sewing or textile sense, rather than recognizing its figurative use to describe a narrative thread running through a story. Similarly, PLOT can easily mislead players toward associations with land, gardening or scheming rather than its narrative meaning, unless a solver has already identified THEME as part of the same group.

The blue category, “Guitar-Playing Techniques,” included PICK, PLUCK, STRUM and TAP. Each word describes a distinct method of producing sound on a stringed instrument. Commentary on the puzzle noted that PLANE and TAP in particular served as effective red herrings elsewhere in the grid, with PLANE misleading solvers toward an aircraft association rather than its correct placement in the yellow “thin pieces” category, and TAP tempting players to think of a faucet or a light touch rather than its correct guitar-technique meaning.

The purple category, the day’s most difficult, was titled “House of ___” and featured CARDS, LORDS, WAX and WORSHIP. Each word completes a familiar two-word phrase when paired with “House of”: House of Cards, House of Lords, House of Wax, and House of Worship. Commentary on the puzzle noted that CARDS and LORDS tend to be recognized relatively quickly given their strong association with well-known phrases, while WAX and WORSHIP proved less immediately obvious unless a solver was already actively thinking in terms of phrase completion.

One columnist covering the puzzle for TechRadar described completing the grid with a single mistake, explaining that they had initially grouped THREAD, SHAVE, WAX and PLUCK together under the mistaken assumption that all four related to methods of hair removal, a red herring the columnist described as particularly cleverly constructed given how naturally those four words fit that alternate theme. After recognizing the error, the columnist noted they were able to solve the remaining three categories with relative ease, though they admitted some hesitation over correctly placing TAP within the guitar-technique group.

Puzzle trackers broadly agreed that Wednesday’s grid rewarded patience over speed, given the sheer number of words capable of plausibly fitting into more than one category. Coverage from Eastern Herald noted that several words appeared to fit woodworking, literary or musical themes simultaneously, making the puzzle one of the trickier entries of the week even for experienced solvers accustomed to spotting the game’s typical patterns of misdirection.

According to general strategy guidance the Times has offered for the game, players tend to find the most success by first identifying categories that feel clearly and unambiguously defined, since building early momentum with confident correct guesses can help maintain focus heading into trickier groupings. Solvers are also encouraged to consider alternate or figurative meanings of individual words, since Connections puzzles are deliberately constructed to include significant overlap between categories, a pattern once again on full display in Wednesday’s grid.

Connections continues to draw a devoted daily following since its official launch in June 2023, with new puzzles released at midnight in each player’s local time zone. That schedule means solvers around the world are often working through different numbered editions of the game at any given moment, a quirk that has become a familiar part of the daily routine for the puzzle’s global player base.

With Wednesday’s puzzle now resolved, attention turns to Thursday’s edition, puzzle number 1,124, set to go live at midnight in each player’s respective time zone. As with previous days, puzzle trackers and columnists covering the game are expected to publish a fresh round of hints and eventual answers for that edition as players around the world continue their daily routines of guessing, deducing and working to preserve their personal Connections solving streaks.

Under the data-sharing programme, coordinated by the Public Sector Fraud Authority within the Cabinet Office, local authorities across London, as well as Edinburgh City Council, Birmingham City Council and Anglesey Council will work with Airbnb and listings confirmed as operating without permission will be removed.

David Harvey from Westminster City Council, said the authority believes about 3,000 of the borough’s 13,000 Airbnb listings are illegally sublet social homes.

He said all council tenancy and lease agreements prohibit short-term letting, and added that Westminster had 7,500 households on its waiting list for social housing.

“We want to free up those Airbnbs to be social homes again,” he said.

Harvey described the new data-sharing arrangement as “just the tip of the iceberg”, and housing officers had to “play detectives” by searching for lock boxes and speaking to neighbours to uncover suspected fraud.

More than 1.3 million households in England are currently on waiting lists for a social home, a rise of 10% in the past two years. Over 300,000 of those are in London.

The social housing action campaign said these homes “should be exclusively held for those in urgent need of housing, but the Cabinet Office’s focus on the tiny proportion that are rented out as short term lets is a calculated distraction.

“Even though this happens on such a negligible scale, it really makes very little impact on the acute housing crisis.”

Cabinet Office Minister Satvir Kaur said “This isn’t an either/or.

“One in 20 social homes potentially are being used fraudulently. It’s right and proper that we find those homes and use them for those who truly need them.”

She added: “£39 billion is also being invested into a new social and affordable homes programme, with an ambition to deliver around 300,000 new homes over the programme’s lifetime”.

The Cabinet Office and the Public Sector Fraud authority said the data-sharing initiative was expected “to return hundreds of properties to genuine families in its first year” as councils could confiscate illegally-let flats and reallocate to someone on the social housing waiting list.

Liverpool Chamber chief calls for tax and red tape changes as retail and hospitality under pressure

The proportion of businesses planning to increase investment in their work has fallen to its lowest level since lockdown as bosses fear rising costs, a new survey has shown.

And as one Merseyside firm said Q2 “has been the hardest quarter for us since the financial crash of 2008”, the CEO of Liverpool Chamber of Commerce says the new Prime Minister must cut red tape and the tax burden on business to give firms the confidence to grow.

Just 17% of respondents in the latest British Chambers of Commerce (BCC) Quarterly Economic Survey said they planned to increase investment in plant, machinery or equipment over the next three months, down from 21% in the previous quarter. Some 26% of those polled said they planned to cut back on investment, while the rest of those polled were expecting no change.

Confidence also fell, with 44% of those polled expecting improved turnover in the next 12 months – down on 49% in the first quarter – and 23% expecting turnover to decline. Just 29% reported rising sales in the previous three months, with a similar number seeing falling sales.

Some two thirds of those polled said they were worried about inflation – up from 50% in Q1. The biggest worry as labour costs, particularly among those in engineering and construction, while more firms were also worried about fuel costs following the Iran war.

The hardest hit sectors were retail and hospitality, with just 31% of hospitality firms and 36% of retailers expecting increased turnover.

Paul Cherpeau, chief executive of Liverpool Chamber, said: “The cost of doing business remains high and sales growth is slow, and this is understandably having a negative impact on the confidence and investment intentions of many firms here in the Liverpool City Region.

“Not for the first time, we see retail and hospitality – two crucial sectors in our local economy – bearing the greatest brunt of those headwinds, while we know from our conversations with members in construction and engineering that they are especially feeling the burden of higher labour costs, which in turn is depressing their ability to offer apprenticeships or hire young people.

“Geopolitical uncertainty and punitive policies at home have created an almost instinctive aversion to risk among many business owners, who will need to see a clear path of future growth and fewer barriers to trade before they will consider making investment decisions.

“That’s the task at hand for the government – and the new Prime Minister – moving forward. They must cut red tape, reduce the tax burden, and deliver policies that incentivise, rather than stymie, ambition.”

What Liverpool businesses told the Chamber

More than 4,700 UK firms took part in the national Quarterly Economic Survey. The study gives bosses the chance to leave anonymous comments about how their businesses are doing – here are some of the comments from Liverpool firms

• “The Iran war has had a huge impact on business confidence and our customers are postponing investments that they had planned to make. It has been the hardest quarter for us since the financial crash of 2008.”
• “Despite having good rates of remuneration there is a severe shortage of skilled personnel available making recruitment and long-term expansion difficult. The business has taken on apprentices as a long-term option but will only see the rewards in 2 to 3 years’ time, placing extra financial pressures in the short term. Due to the cost of living crisis, customers’ average spend is down. Increase in Business Rates and increases in NIC’s & wages contributing to additional pressures.”
• “Our current operating environment is becoming increasingly challenging due to rising costs, growing demand for services and increasing expectations from clients. Costs associated with staffing, software licensing, cybersecurity, insurance, utilities and compliance continues to rise year-on-year, placing pressure on operating margins. At the same time, we are committed to delivering value to our clients and have consciously absorbed many of these cost increases rather than passing them directly on. Whilst this approach has helped maintain strong client relationships and supported organisations facing their own financial pressures, particularly within the charity and third sectors, it has resulted in increased pressure on profitability.”
• “We are extremely busy with good long-term orders. We need to invest and grow. High taxation slows down the pace of recruitment and investment. New employment rules mean we are very careful in who we take on.”

Shares of South Korean chipmakers Samsung Electronics and SK Hynix rebounded on Wednesday after an early selloff, as investors took advantage of lower valuations following a sharp decline driven by concerns over the sustainability of the artificial intelligence-led semiconductor rally, Reuters reported.

Samsung recovered to trade as much as 1.4% higher after initially falling up to 4.4%, while SK Hynix erased early losses and surged as much as 5.8% after dropping as much as 5% at the open. The early weakness mirrored overnight declines in U.S. semiconductor stocks.

According to Reuters, analysts said investor expectations for the semiconductor sector remain largely intact as the earnings season is still in its early stages. They expect memory chip supply to stay tight through the third quarter, supporting earnings and encouraging bargain buying after Tuesday’s sharp correction.

Investor sentiment also received a boost from optimism surrounding SK Hynix’s planned U.S. listing.

However, analysts cautioned that while memory chip pricing is expected to remain favourable in the near term, price increases during the second half of 2026 are likely to moderate compared with the first half due to a higher base of comparison.

Reuters reported that a Kiwoom Securities analyst lowered his target price for Samsung by around 9% to 390,000 won, citing rising costs for key components such as CPUs and package substrates. Higher component costs are pushing up prices of PCs and smartphones, making customers more cautious about increasing memory purchases, the analyst said. Samsung shares were last trading at 290,000 won.
JPMorgan said memory pricing will remain the primary earnings driver in the second half of the year, according to Reuters. The bank expects supply to continue trailing demand despite increasing customer resistance to higher prices. It also said conventional NAND chip pricing could outperform investor expectations, supported by strong demand from U.S. hyperscale data centre operators.The recovery came after a broad sell-off in U.S. semiconductor stocks overnight. Intel dropped 9.7%, Micron Technology declined 4.7%, and Advanced Micro Devices (AMD) fell 6.5%; the Philadelphia Semiconductor Index lost 4.7% as investors reassessed whether AI-related spending can maintain its current pace, Reuters reported.

The market weakness was triggered by Samsung’s preliminary second-quarter earnings released on Tuesday. Although the company projected a 19-fold jump in quarterly operating profit, the results fell short of elevated investor expectations fuelled by robust demand for AI memory chips.

Samsung’s disappointing market reaction sparked a broader retreat in AI-linked stocks in South Korea before the weakness spread to Wall Street, highlighting growing investor sensitivity to lofty valuations across the semiconductor sector.


(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times.)

Millions of Indonesian women are excluded from the workforce or stuck in low-productivity jobs. The Mekaar microfinance initiative, using group lending, is empowering these women. By providing loans, savings programs, and empowerment training, Mekaar helps women like Suryani escape debt traps and grow their businesses.

Digitalization is further enhancing Mekaar’s reach and efficiency, promoting financial inclusion. This initiative is crucial for unlocking women’s economic potential, contributing to Indonesia’s GDP and closing gender gaps.

• Millions of Indonesian women remain excluded from the workforce – or trapped in low-productivity sectors.
• The country’s microfinance initiative Mekaar, rooted in the group-lending model, is helping to liberate women economically.
• Digitalization would further improve the traditional microfinancing model and promote financial inclusion for underprivileged Indonesian women.

Suryani, a typical Indonesian housewife, lives in a slum community nestled in the heart of West Sulawesi. Her husband, Wahyudi, constantly moved from odd job to odd job and never held steady employment. Financially struggling, Suryani started a business utilizing her skills in crafting clothing accessories. With little savings and no other financial options, she did what most in rural Indonesia would do: turned to loan sharks, known locally as “rentenir”, despite the exorbitant interest rates. Immediately, she was caught in a downward debt spiral.

Like many at this income level, Suryani had become enslaved to the debt she accrued and unable to accumulate capital to grow her business. She stands as one among millions of underprivileged Indonesian women desperately in need of affordable financing and empowerment to escape the pervasive poverty trap.

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