The housebuilder’s warning over building cost inflation comes as other construction firms have also cautioned about the impact of the Iran war on UK housebuilder costs

Housebuilder MJ Gleeson has raised concerns over building cost inflation, triggering “higher than usual caution” regarding its financial position.

The Sheffield firm, which specialises in homes at the lower end of the housing market, said: “We have recently seen some softening in footfall and reservations, and limited increases in the cost of some materials.”

The effective blockade of the Strait of Hormuz resulting from the Iran conflict has sent supply chain and energy costs soaring, with construction firms cautioning this could drive up building expenses.

Housebuilders have also indicated that inflation fears are dampening demand for new homes, with MJ Gleeson noting it has witnessed appetite beginning to decline.

“This, together with ongoing challenges with planning and site viability, prompts even higher than usual caution in how we manage the business, including land investment decisions, into the next financial year,” chief executive Graham Prothero stated, as reported by City AM.

However, MJ Gleeson reported it has experienced robust trading at the beginning of this year, with net reservation rates exceeding those from the same period last year, at 0.88 compared to 0.86.

The housebuilder’s share price surged more than 2 per cent on Friday’s opening, reaching 234p, though the stock remained down over 44 per cent year-to-date.

Other construction companies have cautioned in recent days and weeks that the anticipated effects of the Iran conflict on the sector have started to materialise. Proservice Building Services Marketplace also issued warnings about difficulties confronting the construction industry on Friday as it reported revenue that missed market forecasts.

The AIM-listed digital marketplace for building tools and supplies, previously known as HSS Hire before the latter’s sale last year, said on Friday it had experienced “broader macroeconomic pressures – particularly within the UK construction sector, which has weighed on demand across parts of the Group’s end markets”.

Proservice witnessed a substantial 18% decline in its share price on Friday’s opening, to 3.15p, driving the stock to a 56 per cent tumble in the year to date.

There is “an uncertain macro-economic backdrop which is having an impact on both our buyers and sellers,” the company stated.

The firm reported revenue of £248m for the year ending March, beneath analyst expectations of £260m, and said its pre-tax earnings were “expected to be at breakeven.”

Proservice said it was also encountering obstacles in its attempts to refinance its £41m bank debt, with existing facilities due to expire in September. “Wider macroeconomic and geopolitical issues have resulted in discussions taking longer than previously guided,” the company said.

On Thursday, FTSE 100 housebuilder Persimmon said it is starting to witness cost inflation entering its supply chain. The company said: “There are early signs of increased inflation in the supply chain, driven by higher energy costs, which are likely to impact the second half of 2026 and into 2027.

“We are looking to mitigate these where possible through our strong relationships with our suppliers and subcontractors.”

The government is relying on housebuilders to achieve its 1.5m homes target, yet rising construction cost inflation is compounding existing concerns over whether this ambition can be realised.

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Operator

Good morning, ladies and gentlemen, and welcome to BayFirst Financial Corp. First Quarter 2026 Conference Call and Webcast. [Operator Instructions] This call is being recorded on Friday, May 1, 2026.

I would now like to turn the conference over to the Chairman of the Board, Anthony Saravanos. Please go ahead.

Anthony Saravanos

Thank you, Joanna. Good morning, and thank you for joining our call today. With me is Scott McKim, our CFO; Robin Oliver, our COO, and I would like to introduce Al Rogers as the new Chief Executive Officer and President of BayFirst National Bank. We are announcing some exciting news regarding the future of BayFirst.

First, we have raised $80 million of capital from investors through a private investment in a public equity offering. The company issued shares of convertible preferred stock in this pipe, which subject to shareholder and regulatory approvals, will convert to or the exchanged for approximately 22.9 million shares of common stock at an effective purchase price of $3.50 per share.

We are announcing a rights offering for our existing shareholders to participate in this capital raise and are scheduling a special shareholder meeting on July 14. This successful capital raise reflects the trust our investors place in our institution and our long-term strategic direction. This has been a lengthy process over the past several quarters following the bank’s exit from SBA 7(a) lending.

I am extremely pleased to have Al join Robin, Scott and all the BayFirst team members to lead the company back

President Donald Trump said on Friday that the U.S. gave Spirit Airlines a final bailout proposal to aid the beleaguered carrier.

Trump said, “we’re driving a tough deal,” and that “if we could do it, we’d do it. But only if it’s a good deal. He also said an announcement would be coming soon.

The budget airline most recently sought a lifeline from the U.S. government to the tune of $500 million. The Wall Street Journal reported on Friday that the airline is preparing to end operations after a deal could not be reached between certain bondholders and the government.

Sources later said the administration had proposed $500 million in financing in exchange for warrants equivalent to 90% of Spirit’s equity.

TED CRUZ POURS COLD WATER ON TRUMP ADMINISTRATION PLAN TO BAIL OUT SPIRIT AIRLINES: ‘TERRIBLE IDEA’

Spirit Airlines airplanes at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida. (Eva Marie Uzcategui/Bloomberg via Getty Images)

There had been disagreements inside the Trump administration over whether and how to fund the bailout, the report said, citing people familiar with the matter.

Not all Spirit bondholders were on board with the deal, the report added.

Trump previously said he was interested in helping the airline.

“If we could get it for the right price, I’d do it to save the jobs,” he said during an event at the Oval Office last week.

Reuters contributed to this report.

NEW YORK — Rumors are swirling around a possible summer wedding for pop superstar Taylor Swift and Kansas City Chiefs tight end Travis Kelce, with save-the-date notices reportedly circulating for a July 3 ceremony in New York City. While neither Swift nor Kelce has publicly confirmed details, multiple sources close to the couple suggest the high-profile pair is finalizing plans for an intimate yet lavish event that could captivate global attention.

The reported July 3 date aligns with Swift’s affinity for the number 13 — her lucky digit — falling on a Friday that weekend, potentially allowing a long holiday celebration. New York City offers sentimental ties for the couple, who have been spotted together in Manhattan and share connections to the entertainment and sports worlds there. Earlier speculation pointed to Swift’s Rhode Island estate or Ocean House resort for a June 13 wedding, but recent reports indicate a shift to the Big Apple for logistical or privacy reasons.

Save-the-dates have reportedly gone out to a select group of family, friends and industry insiders, though full invitations with venue specifics remain under wraps. Sources describe a guest list of around 150 to 200, balancing celebrity friends, NFL teammates, music collaborators and close relatives. Security and privacy will be paramount, given Swift’s massive fame and past experiences with public scrutiny.

The couple’s relationship has been a fairy tale narrative since they went public in 2023. Kelce’s podcast shoutout led to Swift attending a Chiefs game, sparking a romance that blended music, football and pop culture. Their engagement, reportedly in August 2025 during a private Kansas proposal, fueled immediate wedding speculation. Swift’s “The Tortured Poets Department” era and Kelce’s continued NFL success kept them in headlines while they navigated fame as a power couple.

Industry insiders note the timing makes sense. Swift wrapped major tour commitments, and Kelce’s offseason allows focus on personal milestones. A summer New York wedding avoids NFL season conflicts while capitalizing on pleasant weather for outdoor elements. Potential venues include iconic Manhattan locations or waterfront spots offering views and exclusivity.

Privacy remains a top priority. Swift has historically guarded personal moments, opting for intimate gatherings over media circuses. Kelce’s grounded personality complements her approach, with the couple often choosing low-key dates amid high-profile appearances. Any ceremony would likely feature tight security, NDAs for vendors and limited photography to control the narrative.

Friends and family have remained tight-lipped, adding to the intrigue. Swift’s inner circle includes longtime collaborators and fellow artists who might perform or attend. Kelce’s brother Jason and his wife Kylie, along with Chiefs teammates, would feature prominently. Celebrity guests could range from Selena Gomez and Gigi Hadid to Patrick Mahomes and other NFL stars, creating a star-studded yet personal affair.

The economic impact of such an event would ripple through New York’s hospitality and event sectors. High-end venues, florists, caterers and security firms stand to benefit, while media coverage could boost tourism interest in potential sites. Wedding planners note that celebrity events of this scale often involve multimillion-dollar budgets covering everything from custom décor to entertainment.

Public fascination stems from the couple’s wholesome image and cultural influence. Swift’s songwriting often draws from personal experiences, raising speculation about future music inspired by married life. Kelce’s transition from athlete to broader entertainer — including “Saturday Night Live” appearances and media ventures — positions him as a supportive partner in Swift’s world. Their relationship has been praised for mutual respect and shared values amid intense scrutiny.

Skeptics question the timing amid Swift’s busy schedule and Kelce’s football commitments. Some reports suggest flexibility, with contingency plans if NFL obligations shift. Others note the couple’s preference for privacy might delay any official announcement until closer to the date or afterward. Past false rumors, including earlier Rhode Island speculation, highlight the challenge of separating fact from fan conjecture.

Legal and logistical preparations for a high-profile wedding involve teams of attorneys, planners and publicists. Prenuptial agreements, though rarely discussed publicly, are common in such unions to protect individual assets. Venue contracts, vendor NDAs and transportation logistics require meticulous coordination to maintain secrecy.

Fans have mixed reactions, with many expressing excitement and creating fan art or playlists celebrating the romance. Swifties worldwide trend hashtags and speculate on details, from potential dress designers to honeymoon destinations. The couple’s influence extends to fashion, music and sports crossovers, amplifying interest in their milestone.

Regardless of exact timing or location, Swift and Kelce’s union represents a modern celebrity romance blending talent, athleticism and genuine connection. As rumors solidify into confirmed plans, the world awaits glimpses of what promises to be one of the year’s most talked-about events. For now, the couple continues focusing on careers and each other amid the whirlwind of speculation.

It later included a clause stating the deal can be suspended if the Trump administration is deemed to have “undermined the objectives of the deal, discriminated against EU economic operators, threatened member states’ territorial integrity, foreign and defence policies, or engaged in economic coercion”.

Ford Motor Company is marking America’s 250th anniversary with a nationwide pricing push aimed at giving U.S. customers a break.

The Michigan-based automaker on Friday launched its “American Value. For American Values” campaign, offering employee pricing to all U.S. customers on most new 2025 and 2026 Ford and Lincoln vehicles through July 6. 

Under the program, buyers can pay the same price as Ford employees — which is below the Manufacturer’s Suggested Retail Price (MSRP) — potentially saving them hundreds to thousands of dollars depending on the vehicle, according to the company.

FORD RECALLS OVER 140,000 PICKUP TRUCKS OVER WIRING FIRE RISK

A Lincoln Navigator SUV is displayed against a desert backdrop at sunset. (Ford Motor Company)

Ford said the campaign highlights its broader commitment to American values.

“Ford has always believed that American values are more than words — they’re actions,” said Andrew Frick, president of Ford Blue and Model e, said in a statement. 

“As the nation approaches its 250th anniversary, ‘American Value. For American Values‘ is our way of giving back to the people who show up every day: American workers, small business owners, and families who place their trust in Ford.”

HOW CUTTING ONE COSTLY HABIT COULD SAVE SMALL BUSINESSES THOUSANDS ON FUEL: EXPERT

A worker assembles vehicle components on an auto production line at a Ford manufacturing plant. (Ford Motor Company)

In its announcement, Ford also highlighted its domestic footprint, noting it employs more U.S. hourly workers and assembles more vehicles in the U.S. than any other automaker.

“This commitment is not cyclical and not driven by short-term market conditions; it is foundational to Ford’s identity,” the company said.

Earlier this year, Ford was ranked the “most American” brand in the country in a national survey, earning top marks across political affiliations and income levels.

FORD RECALLS OVER 422,000 VEHICLES OVER WINDSHIELD WIPER ISSUE

The Ford logo is seen on the Ford Motor Company headquarters in Dearborn, Mich. (Reuters/Rebecca Cook/File Photo / Reuters)

In a statement to FOX Business at the time, Ford Executive Chair Bill Ford said the company’s standing reflects its long-standing role in shaping the U.S. economy.

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“As we approach America’s 250th anniversary, I’m proud that Ford has helped strengthen this country — not just by building great vehicles, but by expanding opportunity and improving people’s lives,” Bill Ford told FOX Business in an email.