‘It can change quite quickly, but now we’re doing really well’

The managing partner of law firm Ward Hadaway has confirmed the company is on track to reach ambitious growth targets, saying more mergers are on the cards for the growing law firm.

Steven Petrie took on the top job two years ago and immediately set out plans to accelerate growth and boost turnover by more than 50% within five years. He also wanted to double turnover in 10 years, reaching £100m in turnover by 2034.

Financial results for its 2025 year show growth is consistent, with turnover increasing from £48.1m to £53.6m as the firm aims for its long-term growth targets while remaining independent. The Newcastle law firm now has around 600 people, with additional offices in Teesside, Leeds, Manchester and Birmingham, having opened in the Midlands in June 2025 and merged with Teesdale Business Park-based Endeavour Partnership the following month.

Mr Petrie said the company’s growth plan is currently tracking ahead of pace, and added that further mergers will likely be seen at Ward Hadaway, on the back of the successful integration with Endeavour Partnership.

Mr Petrie said: “The plan is going really well. We were previously growing at about 6% to 7%, but then we put out what some people call an ambitious vision and in the first year we achieved 11.6% growth. And with a month to go of this financial year, the second year, we’re running at 14% currently. So we’re way ahead of where we ought to be.

“I’m not going to jump too far ahead with that because it can change quite quickly, but now we’re doing really well.

“We opened a new office last year in Birmingham and we’ve already run out of space, so we’ve had to take another floor there. We’re currently at 20 there but now have space for 54.

“What we’ve been really good at is not putting all of our eggs in one basket. If there is a property crash it’s not the end of world because we’ve got a busy employment team or a busy litigation team. We’ve always had a really good spread. As a result, we are certainly looking at key areas.

“It would be fair to see there are some areas which are busier than others and we’re obviously expanding into those areas. But it’s not one size fits all because each regional office is at a different point of its trajectory.”

Mr Petrie said Ward Hadaway is frequently approached by smaller operations keen to become part of the company. However, he said the business is not interested in expansion for growth’s sake, or to simply expand its geographical footprint, and that the firm would only consider joining forces with other companies if they could combine as a ‘good fit’.

He confirmed: “We are talking to various firms, but as you can imagine because we’ve put our growth vision ‘out there’, we’re approached a lot by firms.

“We’re not interested in acquisitions. We’re not looking at acquiring firms. What we are looking to do is add to what we describe as our excellent people culture at Ward Hadaway. We’re looking for like-minded firms who share the same values and who are aligned with values and behaviours as we are.

“And it depends on the regions. For instance, if there was a firm in one of the locations where we have offices we would be really interested. But equally, it wouldn’t put us off if there was a firm that had offices in locations where we’re not currently. Basically, if it was the right fit in terms of client profile and people culture, we’d be interested in having the conversation with them.

“It’s not a case of just trying to be bigger for turnover’s sake. It’s very much a case of people having to be the right fit, and being able to complement what we’ve already got. That’s really important.”

Job creation is also expected in each office, including the Newcastle office which currently employs around 320 people. As the oldest office in the group it also houses all the main business services functions, including the finance team, the HR team and the IT division.

Mr Petrie said: “We are committed to growing every office. We have offices which are smaller and are in bigger legal markets, so they are growing at a faster rate, as you would expect. But that doesn’t mean that we’ve taken my eye off the ball in Newcastle, and we are talking to various people now at all levels.

“The difference in Newcastle is it’s not just about partner recruitment. There’s also a lot of organic growth in Newcastle as we need more junior lawyers and support staff.”

LOS ANGELES — Los Angeles Lakers superstar Luka Doncic is racing the clock to return from a Grade 2 left hamstring strain sustained April 2 against the Oklahoma City Thunder, with the Slovenian guard seeking every available edge to shorten a typical four-to-six-week recovery and potentially rejoin his team during the 2026 NBA playoffs against the Houston Rockets.

Doncic, who leads the league in scoring at more than 33 points per game this season, underwent specialized regenerative treatments in Spain, including multiple injections aimed at accelerating tissue repair. He is scheduled to rejoin the Lakers in Los Angeles on Friday, April 17, ahead of Saturday’s Game 1, though he remains out indefinitely with no confirmed return date. Coach J.J. Redick and team officials continue to emphasize caution to avoid re-injury in what could become a physically demanding first-round series.

A Grade 2 hamstring strain involves partial tearing of muscle fibers, causing significant pain, swelling and weakness without a complete rupture. Standard recovery involves initial rest, inflammation control and progressive rehabilitation, but elite athletes like Doncic often explore advanced options to compress timelines while prioritizing long-term durability.

Sports medicine specialists say the most effective ways to speed recovery include a combination of biologic therapies, structured physical therapy, nutrition optimization, sleep and load management. Doncic’s recent trip to Madrid focused on regenerative approaches more readily available or advanced outside strict U.S. regulations.

Ultrasound-guided platelet-rich plasma (PRP) injections and stem cell therapies top the list of interventions. PRP uses concentrated platelets from the patient’s own blood to deliver growth factors that promote healing and reduce inflammation. Stem cell injections, often harvested from bone marrow or adipose tissue, aim to regenerate damaged muscle and tendon tissue. In Europe, doctors can sometimes culture or concentrate these biologics further, potentially enhancing effects compared with standard U.S. protocols where manipulation is more restricted.

A 2022 study on hamstring injuries found that athletes receiving PRP combined with hematoma aspiration returned to play about nine days faster on average — roughly 23.5 days versus 32.4 days with conventional care. While individual results vary, such treatments have helped high-profile athletes shorten soft-tissue recovery windows.

Physical therapy forms the backbone of any accelerated plan. Once acute pain subsides, controlled eccentric exercises strengthen the hamstring while improving flexibility and neuromuscular control. Progressive loading — gradually increasing intensity, volume and sport-specific movements — helps rebuild resilience without overload. Therapists monitor range of motion, strength symmetry and pain levels daily, using tools like isokinetic testing or force plates for objective data.

Doncic’s history with lower-body injuries, including prior hamstring and calf issues, makes careful progression essential. In past recoveries he has spoken about learning to prioritize full healing over rushing back, a lesson that could guide this process. Experts stress avoiding premature return, as re-injury rates for hamstrings can exceed 30 percent in the NBA if athletes test the tissue too soon.

Nutrition and supplementation play supporting roles. Anti-inflammatory foods rich in omega-3s, antioxidants and collagen — think salmon, berries, turmeric and bone broth — help manage swelling. Protein intake supports muscle repair, while adequate hydration and micronutrients like vitamin C, zinc and magnesium aid collagen synthesis. Some athletes add supplements such as tart cherry extract or curcumin, though evidence is mixed and medical supervision is recommended.

Sleep and recovery modalities matter enormously at the elite level. Quality rest allows the body to release growth hormone and repair tissue. Techniques like cryotherapy, compression garments, massage and electrical stimulation can reduce soreness and improve circulation without replacing active rehab. Hyperbaric oxygen therapy or infrared saunas occasionally appear in pro protocols, though scientific backing varies.

Load management is critical for a player like Doncic, whose game relies on explosive changes of direction, deceleration and burst speed. Once cleared for on-court work, ramp-up involves non-contact drills, then limited minutes with monitoring for fatigue or compensatory patterns that could strain other areas like the back or opposite leg. Video analysis and wearable technology help track biomechanics and workload.

Mental preparation cannot be overlooked. Hamstring injuries test patience, especially during playoffs. Sports psychologists help athletes manage frustration, maintain confidence and visualize successful return. Doncic’s competitive drive is legendary, but balancing urgency with smart decision-making will determine whether he can contribute meaningfully if the Lakers advance.

Risks of rushing remain high. Returning before full strength and eccentric control increases chances of compensatory injuries or chronic issues. Medical teams typically require pain-free sprinting, cutting, jumping and at least 90 percent strength symmetry before clearance. Even then, minutes restrictions and monitoring continue.

Doncic’s European treatments reflect a growing trend among NBA stars seeking cutting-edge care abroad. While exact details of his injections remain private, reports indicate multiple sessions focused on biologic enhancement. Upon returning stateside, he will undergo re-evaluation, including imaging and functional testing, to gauge progress.

The Lakers face a tough Houston Rockets squad in the first round starting Saturday. Without Doncic and with Austin Reaves also sidelined by an oblique strain, the team leans heavily on LeBron James and supporting cast. A mid-to-late series return for Doncic could shift dynamics dramatically, but forcing the issue risks derailing both his season and future health.

Longer term, hamstring strains can recur if underlying factors like muscle imbalances, fatigue or training volume are not addressed. Comprehensive off-season programming focusing on posterior chain strength, core stability and mobility will be key for Doncic, who turns 27 later this year and carries a heavy offensive load.

Team medical staff, including physicians, athletic trainers and strength coaches, coordinate every step. Communication between Doncic, his representatives and the Lakers ensures alignment on goals — returning as strong as possible rather than merely as soon as possible.

Fans and analysts continue debating the ideal timeline. Best-case projections with aggressive regenerative care point to a potential return in three to four weeks, possibly late April or early May. Average scenarios land around five weeks, while conservative approaches stretch toward six or more to ensure durability.

Whatever the path, experts agree the foundation remains the same: respect the injury’s biology, follow evidence-based rehab and listen to the body’s signals. Advanced treatments like those Doncic pursued can offer an edge, but they supplement rather than replace diligent physical therapy and smart progression.

As the playoffs begin without him, Doncic’s focus turns to daily gains in the training room and on the practice court. Lakers supporters hope the combination of European innovation, world-class rehab and the Slovenian star’s renowned work ethic can compress the calendar enough to make a difference before the postseason deepens.

In the high-stakes world of NBA recovery, every percentage point of healing counts. For Luka Doncic, the mission is clear — heal smarter, return stronger and help lift the Lakers when the moment arrives.

Mortgage rates fell this week, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage declined to 6.3% from last week’s reading of 6.37%. 

The average rate on a 30-year loan was 6.83% a year ago.

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Realtor Russell Walsh takes a look at a listing by realtor Bryce Garman at Garman’s open house in Dana Point, California, on Aug. 1, 2024. (Paul Bersebach/MediaNews Group/Orange County Register via Getty Images)

“Compared to one year ago when rates were at 6.83%, this is a meaningful improvement for homebuyers during what is typically the busy spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist.

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The average rate on a 15-year fixed mortgage fell to 5.65% from last week’s reading of 5.74%.

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.29% as of Thursday afternoon.

A real estate agent and a prospective buyer stand outside of a home during an open house in Seattle, Washington, on Jan. 18, 2026. (David Ryder/Bloomberg via Getty Images)

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The decline in mortgage rates follows a two-week ceasefire between the U.S. and Iran, brokered with help from Pakistan, that was framed by the White House as a step toward broader negotiations.

“The 10-year Treasury yield has eased from last week, and this relief has carried through to mortgage rates,” said Realtor.com senior economist Anthony Smith. “However, the durability of this rate decline hinges on whether the ceasefire holds and evolves into a more lasting resolution. Until there is greater clarity on the geopolitical front, mortgage rate volatility is likely to remain elevated, and any improvement could prove temporary.”

Listen below or on the go on Apple Podcasts and Spotify

IEA head warns on largest energy crisis ever. (0:15) Taiwan Semi raises 2026 outlook on strong AI chip demand. (1:50) Microcap stocks surge after adding AI to their names. (2:19)

This is an abridged transcript of the podcast:

Our top story so far, Europe may have “maybe six weeks or so” of jet fuel remaining, International Energy Agency Executive Director Fatih Birol told the Associated Press, warning of what he called “the largest energy crisis we have ever faced” following the near-shutdown of oil and gas flows through the Strait of Hormuz.

The impact would mean “higher petrol prices, higher gas prices, high electricity prices,” and potential flight cancellations “soon,” Birol said.

The economic strain would hit unevenly, with countries including Japan, Korea, India, China, Pakistan and Bangladesh on the front line, along with poorer nations across Asia, Africa and Latin America. “Then it will come to Europe and the Americas,” he added.

“If the Strait is not reopened,” Birol warned, “soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel” in Europe.

Meanwhile, a senior Chevron executive told consumers facing high energy prices they may just want to “try to drive less” and turn out the lights.

“We should always be conserving energy, whether it’s your light switch or the miles you drive or what kind of car you buy,” Andy Walz, Chevron’s president of downstream, midstream and chemicals, told CBS. “I would encourage everybody to try to conserve, hang in there and hopefully prices will be coming down soon.”

Among active stocks, PepsiCo (PEP) reported improved Q1 results in its convenient foods segment after pledging price reductions in December. The company said its brand refresh efforts, innovation pipeline and affordability initiatives are gaining traction.

For the full year, Pepsi expects organic revenue growth of 2% to 4% and core constant-currency EPS growth of 4% to 6%, with midpoints ahead of consensus.

Taiwan Semiconductor (TSM) raised its 2026 revenue outlook on strong AI chip demand after Q1 net income surged 58% Y/Y. For Q2, the chipmaker guided to revenue of $39B to $40.2B, implying 10% sequential growth and 32% Y/Y growth at the midpoint.

PPG Industries (PPG) is rallying after announcing price increases of up to 20% across its global paints and coatings portfolio, citing higher raw material, energy, logistics and packaging costs.

In other news of note, echoes of the dot-com bubble and blockchain mania are reverberating in an AI-adjacent corner of the market this week.

Penny stock Myseum (MYSE) surged more than 250% today after the privacy-focused AI and social media technology company rebranded itself as Myseum.AI.

That follows a striking pivot from wool-based shoe company Allbirds (BIRD), which saw its market cap jump roughly $125M after announcing it would rebrand as NewBird AI, raise up to $50M in funding, and “seek to acquire high-performance, low-latency AI compute hardware and provide access under long-term lease arrangements, meeting customer demand that spot markets and hyperscalers are unable to reliably service.”

Understated quote of the year so far: AI infrastructure expert Bill Kleyman called it a “strange pivot.”

“I’ve been in this industry a while, and a company like Allbirds moving from shoes into AI infrastructure is not a very natural adjacency.”

If androids dream of electric sheep, perhaps wool-based AI has a future.

And in the Wall Street Research Corne, Goldman Sachs has rebalanced its Long Duration Basket following the recent rise in rates.

These are stocks whose expected cash flows sit further out in the future, making them more sensitive to interest rate moves. The basket is sector-neutral relative to the Russell 1000 (IWB).

Names in the group include Tesla (TSLA), DraftKings (DKNG), Costco (COST), AbbVie (ABBV), Snowflake (SNOW) and Broadcom (AVGO).

See the whole list in our story.

Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

One of Britain’s largest trade unions has delivered a blistering rebuke to ministers over the newly unveiled British Industrial Competitiveness Scheme, accusing Whitehall of turning its back on the very manufacturers that have long defined the country’s industrial heartlands.

The GMB, which represents tens of thousands of workers across Britain’s factory floors, said its members in gas-intensive sectors had been “disgracefully ignored” by a package the Government had trailed as a lifeline for domestic industry. The union’s verdict will make uncomfortable reading in Downing Street, where ministers have staked considerable political capital on reviving the fortunes of British manufacturing and narrowing the competitiveness gap with rivals in Europe, North America and Asia.

Gary Smith, GMB General Secretary, did not mince his words. “Gas-intensive industries in the UK have been shamefully ignored by the Government in this announcement, it’s a total disgrace,” he said. Mr Smith went on to warn that members working in the nation’s world-famous ceramics sector, along with those producing the bricks that underpin Britain’s construction supply chain, were “sickened at the lack of support” on offer. “Workers in manufacturing companies across the UK need urgent help,” he added. “This isn’t it.”

The intervention throws a harsh spotlight on the scheme’s design. The ceramics cluster centred on Stoke-on-Trent, together with the brickmaking operations that supply housebuilders and infrastructure projects up and down the country, relies heavily on natural gas to fire kilns at the extreme temperatures their products demand. Punishing wholesale energy prices, combined with the cumulative weight of climate levies and network charges, have left these small and mid-sized manufacturers paying substantially more for power than their Continental competitors, a longstanding grievance that industry bodies have pressed successive administrations to address.

For owner-managers in the Potteries and the brick belts of the Midlands and the North, the omission will sting. Many of these firms are quintessential British SMEs: privately held, deeply rooted in their communities, and exporting heritage products that still carry weight on the world stage. Their plea has been consistent, that any credible competitiveness strategy must begin with the cost of energy, without which no amount of capital allowances or skills funding will move the dial.

Whether the Government chooses to reopen the scheme’s scope, or whether a separate package for energy-intensive industries is now inevitable, will be watched closely over the coming weeks. What is beyond doubt is that today’s announcement has, in the GMB’s eyes, fallen well short of the mark.

Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.