Funding to study expansion potential agreed by Bee Network committee

Plans are being made for a major expansion of the Metrolink tram network in part of Greater Manchester.

The region’s transport bosses are looking at taking trams to Salford Crescent, with a potential link to Salford Quays and onward connections to Wigan and Bolton.

More than £1.5m will be spent on the proposals, looking at costs and designs for the expansion.

The funding was confirmed at a meeting of the Bee Network committee on Thursday (June 25).

The money is being drawn from a government scheme called the City Region Sustainable Transport Settlement.

A report explained the cash would be used for ‘consideration of a potential Metrolink extension from the regional centre to Salford Crescent, a potential link to Salford Quays, and potential onward links beyond Salford to locations in the boroughs of Wigan and Bolton (including consideration of tram-train technology).’

The report added: ‘The work will include modelling and appraisal activity, initial design work and the development of initial cost and carbon estimates.’

Salford Crescent is an area undergoing major regeneration, with more people set to move to the area in future years.

Salford’s deputy mayor, Councillor Mike McCusker, said it ‘makes clear strategic sense’ to look at expanding the tram network in this area of the city.

The Crescent has a train station and the area is home to Salford University’s main campus.

There’s a £2.5bn masterplan underway in the neighbourhood, aimed at building 3,000 homes as well as new spaces for businesses and research.

New transport links to Salford Quays could bring major benefits too, with the area set for huge growth in future years.

There are plans to ‘double’ the size of MediaCity in future years, making new homes for thousands more residents.

Frustrated commuters in the Quays have long called for better transport options, saying trams are already packed at busy times.

Councillor Mike McCusker said: “The proposal to develop a business case for expanding Metrolink into Salford Crescent and towards Salford Quays is a very welcome and positive step, and one that reflects the scale of ambition and change we’re seeing across Salford.

“As our city grows, it’s essential that our public transport network grows with it. Salford Crescent is already a key gateway into the city, connecting communities to jobs, education and opportunity, and it sits at the heart of significant regeneration.

“Given that level of growth, it makes clear strategic sense to explore how the transport network can better serve these areas.

“Better public transport links help connect residents to jobs, reduce congestion, support cleaner air, and make our neighbourhoods more attractive places to live and invest.

“We look forward to working with GMCA and TfGM as this business case develops.”

A Transport for Greater Manchester spokesperson said: “Work is at an early stage to explore options for improving public transport connections in the north-west of Greater Manchester.

“Subject to funding being agreed by the Bee Network Committee, TfGM will develop a Strategic Outline Case which will look at potential rapid transit improvements in this corridor.

“This includes exploring possible Metrolink extensions to Salford Crescent, improved connections to Salford Quays and MediaCity, and longer-term options for onward links towards locations in the boroughs of Wigan and Bolton.

“No decisions have been made on routes, technology or delivery at this stage.

“The work will consider a range of options and assess their value for money, alongside how they could support growth, improve connectivity and integrate with the wider Bee Network.”

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

Xiaohongshu, also known as RedNote, is a Chinese social media app currently testing the waters on public offerings amid the nation’s tech sentiment. The platform aims to go public, reflecting its growth and the country’s evolving attitude towards technology companies amid regulatory and market shifts.

China’s Instagram seems poised to make its public debut, capturing attention across the digital landscape. Although Instagram itself is blocked in mainland China, a new platform resembling its core features is reportedly gearing up for a major launch. This new app aims to capture the popularity of visual social media, appealing to young users eager to share photos and videos. Industry insiders suggest that Chinese tech giants are behind this development, seeking to create a domestically controlled alternative to Instagram’s global presence.

The move reflects China’s broader efforts to develop homegrown social media platforms that comply with local regulations. By introducing a familiar interface and features similar to Instagram, the platform hopes to attract users already familiar with visual content sharing. The launch is expected to bolster China’s digital economy and provide a new avenue for influencers and brands to connect with audiences.

As the platform prepares to go public, analysts anticipate significant competition with existing Chinese social media giants like WeChat and Douyin. If successful, this new Instagram-style app could reshape China’s social media landscape, offering users a fresh space for creative expression while aligning with national policies on information control. The upcoming release signals a dynamic shift in China’s digital ecosystem, emphasizing innovation within regulatory boundaries.

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Alona Shevtsova, CEO of Sends, will lead an industry discussion at The Blockchain Show Riyadh, bringing together experts from cybersecurity, banking, blockchain infrastructure, and digital asset innovation to explore how artificial intelligence, risk management frameworks, and distributed ledger technologies are shaping the future of digital banking.

The panel, titled “AI, Risk & Blockchain: Building the Next Generation of Digital Banking,” will examine the opportunities and challenges facing financial institutions as emerging technologies become increasingly integrated into global financial infrastructure.

The discussion will focus on four key themes: the foundations of secure and resilient digital banking; the role of blockchain in financial infrastructure and digital trust; responsible AI governance and innovation; and the future of digital finance across the Middle East and global markets.

As moderator, Alona Shevtsova will guide the conversation around one of the most pressing questions facing the financial sector today: how financial institutions can continue to innovate while maintaining trust, security, transparency, and regulatory compliance in an increasingly digital environment.

Commenting ahead of the event, Alona Shevtsova, CEO of Sends, said: “The future of banking will be defined by the ability to balance innovation with trust. AI, blockchain and digital infrastructure are creating new opportunities for financial institutions, but long-term success will depend on building secure, transparent and resilient systems that inspire confidence among customers, businesses and regulators alike.”

The panel is also expected to explore the growing role of blockchain technology in institutional finance, the evolution of digital assets and decentralised financial systems, and the opportunities emerging from the convergence of AI, digital identity, and automated decision-making.

Particular attention will be given to developments across the Middle East, including Saudi Arabia’s growing position as a regional hub for digital innovation, financial technology, and blockchain adoption.

The Blockchain Show Riyadh brings together industry leaders, innovators, regulators, and technology experts to discuss the trends and technologies shaping the future of digital finance and blockchain adoption worldwide.

Earlier this month, Alona Shevtsova was shortlisted for the 2026 Great British Entrepreneur Awards in the Established Business of the Year category. Her team is also preparing for the Fintech Connect conference in London later this year. Sends will be a leading sponsor of this event.

In July 2025, Alona Shevtsova announced the first stage of the project in collaboration with Sends Messenger. Teams plan to integrate payment functionality directly into the messaging app. The initiative, developed in partnership with Sends Messenger, aims to redefine how users across the UK, Europe, Ukraine, and beyond interact with digital payments in everyday conversations.

During the Q1 2026, Sends introduced customisable digital cards for personal accounts available in Apple Wallet and Google Wallet. Giving customers more flexibility and available control over their experience with Sends is one of teams priority.

In June 2026, Sends announced the launch of Samsung Pay as a supported payment method, giving merchants access to millions of Samsung users.

With over 15 years of experience in payments and financial and technology Alona Shevtsova drives Sends’ growth into the scalable, secure, and globally, accessible financial platform.

*Sends is a trade name of SMARTFLOW PAYMENTS LIMITED, registered in England and Wales (Company No.11070048). For more information, visit sends.co .

A recent article in The Shift placed renewed scrutiny on International Hotel Investments (IHI), owner of the Corinthia Hotels brand, after it revealed the scale of debt now carried by one of Malta’s best-known hospitality groups.

The Maltese investigative outlet reported on 11 June that IHI had returned to the bond market while holding almost €790 million in debt. That’s a significant debt burden for any company, but for a hotel group that has spent a decade struggling to turn expansion into consistent profits, it is a clear warning sign.

These figures contradict Corinthia Group’s expansion story. Despite the company’s best efforts to maintain the appearance of continued international growth and present positive numbers in its annual financial reports, recent figures point to severe financial difficulties that cast doubt on the company’s financial health.

 Corinthia’s financial annual reports: a closer examination

A closer reading of Corinthia’s public accounts suggests that the nearly €800 million debt reported on the Shift is just the tip of the iceberg. The company has reported net losses every year since at least 2014. By 2024, accumulated losses had reached €46 million. Persistent losses weaken a company’s ability to fund growth from its own operations and make it increasingly reliant on lenders, investors, and refinancing.

Corinthia’s own actions suggest those pressures were understood internally. Dividends have not been paid since 2019, an apparent recognition of the company’s financial struggles. Then in 2022, Corinthia underwent bruising cuts to staffing when the Board instructed a deliberate reduction to staffing targeted at keeping headcount at least 15% below 2019 levels.

In spite of the apparent financial reality, Corinthia’s expansion continued. New Corinthia-branded projects have been promoted all the way from Rome in Europe, through Asia, and most notably entered the market in the Middle East’s tourism capital – Dubai. Corinthia’s international expansion story is difficult to reconcile with its clear financial difficulties, raising serious questions over the financial prudence of the company’s expansion strategy.

In fact, Corinthia’s latest financial annual report shows that net debt was more than 11 times EBITDA, a level widely regarded as high by international lending standards. Put simply, the company’s borrowings appear far larger than the earnings available to support them.

Borrowing can be sensible when it funds growth that later pays for itself. But when a company is already facing consistent financial losses, every new refinancing begins to look less like confidence and more like survival. As of 2024, interest costs consumed much of the operating profit needed to service the debt, leaving Corinthia with less room for error and even fewer ways to absorb another shock.

 Auditing Corinthia’s finances: cause for concern?

EU Reporter

has previously reported that PwC’s auditors’ report does not appear to flag the near ~€800 million debt or the latest bond market return as a specific audit concern, leaving open whether investors were alerted to the scale of the risk.

The picture is therefore not simply of an ambitious hotel group temporarily carrying high debt. It is of a company that has spent years losing money, cutting dividends and staff, borrowing to keep expanding, and relying on asset revaluations to help its financial reports stay afloat. With more bonds due in 2026 and debt forecast to approach €880 million, the question is no longer whether Corinthia is expanding. It is how much longer can its financial model withstand the weight of deception