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Billionaire CEO details limited tanker traffic moving through Strait of Hormuz

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Goldman Sachs says Iran war unlikely to trigger COVID-like supply crisis

A small number of tankers are beginning to move through the Strait of Hormuz, United Refining CEO John Catsimatidis said Wednesday, signaling a tentative restart at the critical oil choke point.

“Right now, the ships are moving. Ten ships are scheduled to be moving in the next few hours,” Catsimatidis, also the CEO of New York City grocery chain Gristedes, told “Varney & Co.,” citing what he said was information from Greek shipping executive Nikolas Tsakos. Fox News Digital has not independently verified the claim.

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Under normal conditions, Catsimatidis said, as many as 100 tankers pass through the narrow waterway each day, making the current flow a fraction of typical traffic.

Reports suggest that, despite the ceasefire, many ships remain stalled or are moving cautiously through the Strait amid lingering security concerns.

IRAN STRIKES COULD SIGNAL LIMITS OF BEIJING, MOSCOW’S POWER AS US FLEXES STRENGTH

Oil tankers in the Strait of Hormuz.

Tankers are seen at the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in the Sharjah Emirate, along the Strait of Hormuz, a waterway through which one-fifth of global oil output pass (Giuseppe Cacace/AFP via Getty Images / Getty Images)

Catsimatidis said the limited movement reflects what he described as ships needing to seek permission from authorities before transiting the Strait.

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The comments come amid a drop in oil prices as the market reacted Wednesday to a bilateral ceasefire between the U.S. and Iran.

OIL HAS SURGED SINCE THE IRAN CONFLICT, BUT GAS PRICES MAY NOT BE DONE RISING

NEW YORK, NY - NOVEMBER 17: John Catsimatidis attends The New York Society for the Prevention of Cruelty to Children's 2021 Fall Gala at Stavros Niarchos Foundation Library on November 17, 2021 in New York City. (Photo by Jared Siskin/Patrick McMullan via Getty Images)

John Catsimatidis attends The New York Society for the Prevention of Cruelty to Children’s 2021 Fall Gala at Stavros Niarchos Foundation Library on November 17, 2021, in New York City. (Jared Siskin/Patrick McMullan via Getty Images / Getty Images)

The truce, announced Tuesday, calls for the reopening of the Strait of Hormuz — a move seen as critical to stabilizing global oil flows and easing pressure on high energy prices.

Catsimatidis predicted that oil prices could continue to fall if stability holds in the coming weeks.

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“The minute we settled something, it went down $20 a barrel and, right now, we’re still in a risk period,” he explained.

“Let’s see what happens in the next two weeks. Once that risk period goes away, it’s going to go down another $20 a barrel. It’ll get closer to the $65 a barrel that we were prewar, and all of that is dependent on the free flow of oil through the Strait of Hormuz.”

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LARRY KUDLOW: Once again President Trump outwits the defeatist Democrats

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LARRY KUDLOW: Warsh is the right man for the Fed

One of the many faults with today’s Democratic party is they don’t know how to win. They are defeatists. They find themselves on the wrong side of all kinds of 80-20 issues, like open borders, defending illegal criminals, waste, fraud, and abuse corruption, tax hikes, and men in women’s locker rooms. Now, here they go once again badmouthing President Trump’s tremendous victory in Operation Epic Fury, that absolutely crushed Iran in only 38 days. These defeatist Democrats now want to limit the commander in chief’s foreign policy powers, at almost exactly the moment where Mr. Trump, and our mighty military, and American patriots everywhere have scored a tremendous victory.

Is the war over? I think it basically is. There may be more hostilities, but we’re on the one-yard line. Let’s wait and see. Mr. Trump will never cut a bad deal. He has opened the Strait of Hormuz to take the pressure off energy prices. And he’s keeping all the American military forces in place in the Middle East, just to make sure a badly defeated Iran makes a peace deal. They may misbehave, and more bombing will occur. If they don’t agree to turning over the enriched uranium to America, then more bombing may be necessary. Ditto for their missile programs. Ditto if they keep bombing our Gulf allies.

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Right now, Iran has a two-week peaceful window of opportunity to make a good deal. Essentially their navy, their airforce, their air defenses, their industrial base, have all been crushed. Even their ally Communist China needs their oil and has put diplomatic pressure on Iran to make a deal.

Whether Mr. Trump’s ceasefire is giving up some leverage for the final peace deal remains to be seen. Yet our military will remain in the region and can exercise their whip hand at a moment’s notice. Our negotiators know what’s worth discussing with Iran and what’s completely out of bounds. And if they don’t, then surely the president will know.

The Iranians like to delay and delay, and stall, but Mr. Trump is an action executive. I think we should all figure these next two weeks will be Iran’s last window before literally the roof totally caves in on them.

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Meanwhile, the defeatist Democrats are once again on the wrong side of the political divide. And once again Mr. Trump using his own brand of tactical threats and then decisive actions to upend conventional wisdom, one way or another, Iran’s capabilities will be completely dismantled. One way or another, Mr. Trump will rewrite history and bring freedom and prosperity where no one thought it was possible. And one way or another, the Democrats are stumbling into their own self-made political trap.

Once again Mr. Trump outwits the defeatist Democrats.

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(PHOTO) Mike Vrabel and Dianna Russini Deny Romance After Photos Show Them Holding Hands at Arizona Resort

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Dianna Russini

New England Patriots head coach Mike Vrabel and prominent NFL reporter Dianna Russini pushed back Wednesday against swirling speculation of a romantic relationship, insisting photos of them embracing and holding hands at a luxury Arizona resort captured nothing more than an innocent group interaction.

Dianna Russini
Dianna Russini

The images, published Tuesday by Page Six of the New York Post, showed the pair in swimsuits relaxing poolside, lounging in a hot tub and appearing to dance with fingers interlocked on a private rooftop at the Ambiente Sedona resort. Both Vrabel, 50, and Russini, 43, are married to other people, fueling online chatter and tabloid headlines that quickly went viral.

Vrabel described the characterization of the photos as “laughable” in a statement to the Post.

“These photos show a completely innocent interaction and any suggestion otherwise is laughable,” he said. “This doesn’t deserve any further response.”

Russini, a senior NFL insider at The Athletic who previously anchored ESPN’s “SportsCenter,” offered a similar explanation.

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“The photos don’t represent the group of six people who were hanging out during the day,” she told the outlet. “Like most journalists in the NFL, reporters interact with sources away from stadiums and other venues.”

According to Page Six, the encounter occurred on Saturday, March 28 — two weekends before the photos surfaced — at the boutique resort nestled against Sedona’s red rock formations. A witness reportedly observed the pair having breakfast on the restaurant patio around 10:30 a.m., followed by time at the pool and hot tub. They were later seen on the rooftop of one of the hotel’s bungalows with panoramic views.

Sources close to both parties told the outlet they were not alone. Russini was said to be on a hiking trip with two female friends, while Vrabel and his companions drove up from another hotel about two hours away for the day before returning.

The Patriots organization declined comment Wednesday. The Athletic, Russini’s employer and part of The New York Times, defended her work while addressing the images.

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“Dianna is a premier journalist covering the NFL and we’re proud to have her at The Athletic,” a spokesperson said. The outlet called the photos misleading and lacking essential context of the larger group setting.

The story ignited widespread reaction across social media and NFL circles, with some fans drawing comparisons to other high-profile celebrity moments and questioning the optics for a head coach and a journalist who regularly covers the league. Discussions referenced past interactions between Vrabel and Russini, including an old interview clip where Vrabel made what some resurfaced as an “unacceptable” comment, though details remained vague amid the current frenzy.

Vrabel, a former NFL linebacker and two-time Super Bowl champion as a player, returned to the Patriots as head coach in early 2025 after a successful stint with the Tennessee Titans. Known for his no-nonsense leadership and defensive acumen, he has focused on rebuilding the franchise amid roster transitions and high expectations in the AFC East.

Russini has built a reputation as one of the NFL’s most plugged-in reporters, breaking news on personnel moves, coaching searches and league insider information. Her move from ESPN to The Athletic was seen as a significant step in sports journalism, where she continues to deliver in-depth coverage.

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Both have families. Vrabel has been married for more than two decades, and Russini also maintains a private personal life outside her high-profile reporting role.

The incident highlights ongoing tensions in the relationship between NFL coaches and the media members who cover them. While professional interactions are common — including off-site conversations that can yield valuable insights — the visual nature of the photos and the fact both are married amplified public scrutiny.

NFL media experts noted that such encounters, even if purely professional or social, can appear compromising when captured out of context. Reporters frequently attend league events, owners’ meetings and informal gatherings where coaches and executives mingle.

The timing added fuel to the fire. The photos emerged shortly after the NFL annual meeting period, though the Sedona resort was not the primary venue for official league business. Sedona, known for its scenic beauty and wellness tourism, has become a popular getaway spot for those seeking respite from the pressures of professional sports.

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Online platforms lit up with memes, speculation and debate. Some users defended the pair, arguing that assumptions based on still images ignore the full story of a group outing. Others expressed disappointment over the optics, particularly for a coach in a high-visibility role.

“This doesn’t look good,” one fan posted on social media, while another quipped about it being “worse than the Coldplay couple” in reference to a recent viral moment. Hashtags related to Vrabel, Russini and the Patriots trended briefly as the story spread.

Neither Vrabel nor Russini has faced formal league discipline or internal investigation based on publicly available information. The NFL’s personal conduct policy typically addresses more serious allegations, and both parties have firmly denied any impropriety.

The episode serves as a reminder of the intense public spotlight on NFL figures. Coaches like Vrabel manage billion-dollar franchises and locker rooms filled with million-dollar athletes, while top reporters like Russini wield influence through their access and scoops. Any perceived blurring of lines can spark questions about journalistic ethics and professional boundaries.

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In past years, Russini has dealt with separate public scrutiny, including an old accusation from a former NFL executive’s spouse that was later apologized for. Those details resurfaced in some coverage Wednesday but were not directly tied to the current situation.

Vrabel’s coaching tenure with the Patriots has drawn attention for its intensity and emphasis on culture. He has spoken openly about leadership, family and the demands of the job in previous interviews.

For now, the focus remains on the field. The Patriots are preparing for the 2026 season with draft picks, free agency moves and organized team activities on the horizon. Russini continues her reporting duties, covering league-wide developments as the offseason unfolds.

Journalism organizations and sports leagues have long grappled with guidelines on reporter-source relationships. Many outlets maintain strict policies to avoid even the appearance of conflict, though casual social interactions at industry events are often unavoidable.

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The Athletic emphasized Russini’s professional integrity in its statement, underscoring her value as a news-breaker in a competitive landscape.

As the story circulated Wednesday, some analysts suggested the rapid spread reflected broader fascination with celebrity crossovers in sports and media. Others warned against rushing to judgment without full facts, noting how cropped or selective images can distort reality.

Vrabel’s brief statement indicated he considers the matter closed. Russini’s comments highlighted the routine nature of off-the-record or informal conversations that journalists rely on for context and sourcing.

Sedona’s serene setting — with its hiking trails, vortex sites and luxury accommodations — provided a picturesque backdrop that contrasted sharply with the ensuing media storm. The Ambiente resort markets itself as an exclusive escape, featuring private bungalows and wellness experiences popular among high-profile guests.

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No additional photos or evidence have emerged beyond the initial Page Six report. Independent verification of the group size or exact timeline remains limited to the statements provided.

The NFL and Patriots have navigated similar public distractions in the past, from coaching controversies to off-field stories. In each case, the organization has emphasized focus on performance and preparation.

Fans in New England, still adjusting to life after the Bill Belichick era, have expressed mixed reactions. Some worry about any potential distraction for Vrabel as he builds his program, while others view the attention as overblown tabloid fodder.

Russini’s colleagues in the press corps have largely stayed silent publicly, though private conversations in media circles likely centered on the challenges of maintaining boundaries in a tight-knit NFL world.

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As of late Wednesday, April 8, 2026, neither party had issued further comments. The story continues to generate discussion online but shows signs of fading without new developments.

The situation underscores how quickly personal moments can become public fodder in the digital age. For Vrabel and Russini, the priority appears to be moving past the episode and returning to their respective roles — one leading a football team, the other covering it.

In professional sports, trust between coaches and reporters remains essential. Whether this incident affects that dynamic long-term will depend on how the league, teams and media organizations respond in the coming weeks.

For now, both have made clear their version of events: a casual group gathering captured in misleading snapshots. The public, as always, will draw its own conclusions.

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New Somerset train station plans remain ‘on shelf’ in Whitehall

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Somerset Council awaits Department for Transport approval of the business case

Planned site of the new Somerton railway station, seen from the Ricksey Lane bridge in June 2024. CREDIT: Daniel Mumby. Free to use for all BBC wire partners.

Planned site of the new Somerton railway station, seen from the Ricksey Lane bridge(Image: Local Democracy Reporting Service)

Plans to bring a new railway station to rural Somerset remain “sat on a shelf” in Whitehall, Somerset Council has confirmed. Proposals for a new station to serve the expanding towns of Somerton and Langport suffered a major blow in July 2024 when Chancellor Rachel Reeves scrapped the restoring your railway fund in late July that year.

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The station was omitted from Somerset Council’s local transport delivery plan, which was given the go-ahead in mid-March and featured numerous pledges to enhance both Somerset’s rail services and existing stations’ connections to buses and active travel.

The Langport Transport Group, which produced the outline business case for the new station, has now called on the council to push the Government for a decision following years of unnecessary delays.

The council said it remained supportive of a new station in principle but could not allocate any funding at this stage, noting that the decision rested firmly with the Department for Transport (DfT).

Langport Transport Group chairman Phil Edge made his appeal when the council’s executive committee convened in Taunton on Wednesday morning (1 April).

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He said: “We supports reconnecting 53,000 residents to rail. Serving the towns of Somerton and Langport, along with the surrounding area, a new station will stand on the existing Great Western mainline between London Paddington and Penzance.

“Somerset County Council was our strategic statutory partner in 2021 in bidding successfully for £50,000 from the re-opening your railway fund, acting as the responsible budget holder.

“Disadvantaged communities across the scheme’s catchment – almost ten per cent of Somerset’s population – will benefit, including communities in Curry Rivel, Glastonbury and Street.”

During 2023-24, Somerset’s total station passengers reached 3,348,000 – increasing by 170,000 from 2022-23, and up nearly 600,000 from 2013-14, according to the Langport Transport Group.

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The business case forecasts 230,000 journeys annually from a Somerton station, of which two thirds would be ‘new to rail’.

‘Gateway to opportunity’

“It would take 11 minutes to reach Taunton, compared with 50 minutes or more by road,” said Mr Edge. “The environmental, economic, educational and social benefits are myriad, with the rail network as a gateway to opportunity for the next generation.”

The council’s planning department is presently reviewing proposals for 150 dwellings on Foxglove Road in Somerton, situated north of the proposed Somerton railway station site outlined within the business case.

The proposed Langport station location sits east of the A372 Wincanton Road in the neighbouring village of Huish Episcopi Academy, close to the local cricket club and secondary school.

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Mr Edge added: “Bearing all this in mind, and given Somerset Council’s stated priorities on connectivity and sustainable growth, why has the Somerton and Langport station re-opening, which is backed by a positive business case and strong local and parliamentary support, been omitted from the delivery plan?

“Will the executive now commit to formally including and supporting this project?”

The local transport delivery plan pledges to provide improved interchanges between Somerset’s current railway stations and alternative transport modes, including buses, walking and cycling infrastructure.

The plan also pledges to create a rural transport hub in Langport, complementing the £3.2m transport hub presently being built in Taunton town centre.

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Councillor Richard Wilkins, portfolio holder for transport and waste services, said the council was unable to pledge additional funding or resources to the station scheme until the outline business case had been evaluated.

Mr Wilkins (who represents the Curry Rivel and Langport division) said: “As you know, we’ve been very supportive – and it’s worth noting that local MP Sarah Dyke has been extremely supportive too, bringing this up many times in parliament.

“It is also a priority of the Peninsula Transport sub-national transport body, on which the council sits.

“However, until the DfT approves the business case for this addition to the rail network, we are unfortunately unable to consider any capital financial contribution.

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“Needless to say, we continue to lobby hard to get them to look at this business case, because it’s been sat on the DfT’s shelf far too long.”

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Unruly Ryanair passenger jailed after forcing pilot to abort landing

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Unruly Ryanair passenger jailed after forcing pilot to abort landing

Unruly passengers flying with Ryanair could now face jail time, as the Ireland-based budget airline continues to crack down on disruptive behavior it says has risen in recent years.

A 61-year-old man from Wales was sentenced to 10 months in a United Kingdom court after his actions — including threatening and verbally abusing a crew member while intoxicated — forced a pilot to abort a landing at Bristol Airport in England last year, the Avon and Somerset Police said Tuesday.  

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Ryanair welcomed the conviction and reiterated its zero-tolerance policy on passenger misconduct, introduced in 2024, as it looks to curb delays and disruptions caused by a few disorderly travelers.

“We welcome the Bristol Crown Court’s conviction of this unruly passenger whose inexcusable behaviour disrupted a flight from Krakow to Bristol in November 2025,” Ryanair Communications Director Jade Kirwan said.

MASS BRAWL FORCES RYANAIR ‘FLIGHT FROM HELL’ TO MAKE EMERGENCY LANDING AFTER JUST 36 MINUTES

Ryanair-Boeing-Passengers

Unruly passengers flying with Ryanair could now face jail time. (Nicolas Economou/NurPhoto via Getty Images)

“This demonstrates just one of the many consequences (including travel bans and offload fines) that passengers who disrupt flights will face as part of Ryanair’s zero tolerance policy. We hope this conviction will further deter disruptive behaviour on flights so that both passengers and crew can travel in a comfortable and stress-free environment.” 

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Police identified the unruly, intoxicated passenger as Stephen Blofield, who was traveling on a flight from Poland to the United Kingdom on Nov. 11, 2025. He was sentenced to 10 months after pleading guilty in February to multiple charges, authorities said.

During the flight, Blofield allegedly became aggressive and volatile after consuming his own duty-free alcohol, according to aviation outlet Paddle Your Own Kanoo

Prosecutors said he created a fearful atmosphere onboard when he reportedly began swearing and verbally abusing a crew member and nearby passengers, ignoring instructions to remain seated during landing, and ultimately forcing the pilot to initiate a go-around maneuver, delaying the touchdown to ensure safety, the Bristol Post reported

THREE RYANAIR PASSENGERS REMOVED FROM FLIGHT AFTER BRAWL ERUPTS: VIDEO

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Stephen Blofield, 61, was sentenced to 10 months in a United Kingdom court on Wednesday. (Avon and Somerset Police)

“Stephen Blofield caused the initial landing to be aborted and continued to be verbally abusive towards cabin crew. He was met by officers at Bristol Airport once the flight had safely landed,” Inspector Christian Gresswell, of the Bristol Airport policing team, said.

“An intoxicated passenger can pose an unacceptable risk to safety, and that’s why we take the offense so seriously.”

Blofield pleaded guilty at Bristol Crown Court to four charges: being drunk on an aircraft, behaving in a threatening and abusive manner towards a crew member, behaving in a manner likely to cause harassment and distress, and failing to comply with lawful commands of a pilot.   

Ticker Security Last Change Change %
RYAAY RYANAIR HOLDINGS PLC 64.20 +5.91 +10.14%

Incidents involving unruly passengers on Ryanair have risen in recent years, with the airline publicly welcoming the convictions of disruptive travelers.

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Last year, a passenger was found guilty of exhibiting “inexcusable behavior” that forced a 2024 flight to divert to Rzeszów, Poland, during a journey from Glasgow, Scotland, to Kraków, Poland, the airline said in an announcement commending the conviction. 

In 2024, a Ryanair flight was forced to make an emergency landing shortly after departing Morocco when a mass brawl erupted among passengers.

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In 2023, video captured another brawl that led to three Ryanair passengers being kicked off an aircraft, causing a delay ahead of takeoff from Manchester, England, to Ibiza, Spain.

FOX Business’ Stephen Sorace, Pilar Arias and Greg Norman contributed to this report.

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North Yorkshire’s Rudding Park set for job-creating expansion with bank funding

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The family-owned estate is set for a huge redevelopment

Rudding Park is owned by the Mackaness family.

Rudding Park has secured a seven-figure funding package from HSBC UK to progress plans.(Image: Rudding Park)

Hotel and golf resort Rudding Park will use bank funding to carry out a £30m redevelopment.

The award-winning site near Harrogate plans to create a new 60,000 sqft golf and country club along with seven new padel and tennis courts, an accompanying pavilion and a full restoration of the property’s walled garden. There will also be upgrades to existing health and wellbeing facilities, a new swimming pool and general improvements across the resort.

Owners the Mackaness family will now use a seven-figure package from HSBC UK to carry out the plans, which they say could create 75 new jobs and generate an estimated £14m in annual gross value added for Harrogate. Rudding Park is said to have experienced a 4.8% increase in turnover in the last year, that compares to the latest available accounts covering 2024 which show turnover of nearly £28m.

Nick Mackaness, joint managing director at Rudding Park, said: “This is an exciting new phase of growth for Rudding Park, as we continue to expand and diversify high quality experiences for our guests. HSBC UK support will enable us to complete these development works, making sure our facilities exceed the expectations of our guests old and new. We look forward to expanding the team and attracting guests from all over the UK as our plans take shape.”

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Tom Sikora, relationships director at HSBC UK, said: “Rudding Park is a fantastic example of an ambitious business in a competive market with a clear strategy for growth. The team has built a well-loved resort over many years, always understanding the next steps needed to keep attracting guests These developments will ensure Rudding Park stays a household name across the UK for many years to come and we look forward to seeing the new facilities open.”

Rudding Park has been owned by the Mackaness family since 1972 and now includes 90 bedrooms and suites, a spa, three restaurants, a kitchen garden, private cinema, two golf courses and conference and events spaces.

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Sunderland group launches plan to boost number of Living Wage payers in the city

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“It ensures that work provides not just a pay packet, but a decent standard of living,” says Faith Lydiard of the Living Wage Foundation

The Making Sunderland a Living Wage City Action Group includes private, public and third sector organisations.

Representatives from Sunderland real Living Wage employers.(Image: Creo Comms)

A group of businesses, charities and public sector organisations in Sunderland has launched a multi-year plan to boost the number of real Living Wage employers in the city.

The Making Sunderland a Living Wage City Action Group includes Sunderland City Council, housing association Gentoo Group, technology firm Apexon, digital marketing executive Phonetic Digital, Sunderland Voluntary Sector Alliance, communications consultancy Creo Comms, community interest company Active Families NE, community advice organisation ShARP and children’s charity Love, Amelia. Together they have devised a three-year plan to increase the number of accredited real Living Wage Employers on their doorsteps.

There are currently 62 real Living Wage accredited employers in the city, an increase of 42 since Sunderland earned Living Wage City recognition in 2022. The group says that means more than 2,000 workers have received a pay rise that meets real Living Wage level.

That level is an independently calculated hourly rate of pay for those aged 18 and above, based on living costs including rent, bills, food and other things. It is around £13.45 in most of the country, but £14.80 in London.

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The action group is also looking to broaden accreditations to include Living Hours and Living Pension and to embed the Living Wage across funding, commissioning and procurement.

Faith Lydiard, North East programme manager at Living Wage Foundation, said: “Paying the Real Living Wage is one of the most effective ways employers can demonstrate a genuine commitment to their people and their communities. It ensures that work provides not just a pay packet, but a decent standard of living, helping individuals and families meet everyday costs with dignity and security.

“We consistently see that businesses who adopt the real Living Wage benefit too. They experience higher staff retention, improved morale, and increased productivity, alongside a stronger reputation as responsible employers. In a competitive labour market, it is a clear signal that an organisation values its workforce.”

She added: “At a time when the cost of living remains a real challenge for many, we encourage more employers to step forward and join the growing movement. Paying the real Living Wage is not just the right thing to do — it is a smart, sustainable choice that delivers long-term value for both people and business.”

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The group says it’s not just businesses who are making the case for paying a real living wage. Jess works as a digital marketing executive at Sunderland based Phonetic Digital, a B-Corp based in Mackies’ Corner that provides a spectrum of digital services to enhance the digital presence and operational efficiency of its clients across the UK.

She said: “Being paid the real Living Wage means I can say yes to social engagements which makes the difference between having a routine and having a life.”

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Duncan Bannatyne hails ‘impressive’ results for his health clubs business

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The chain is planning to invest further in Padel

Duncan Bannatyne once starred in the BBC Dragons' Den programme.

Duncan Bannatyne.(Image: Bannatyne Group)

Health club and hotel operator Bannatyne Group has hailed record revenue and profits in the face of economic headwinds.

The County Durham-based spa chain headed by former BBC Dragon Duncan Bannatyne says it is poised to make further investments in padel courts throughout this year. In 2025 results seen by BusinessLive ahead of their publication at Companies House, the firm showed it had grown revenue to nearly £158m from £149.6m the year before.

Operating profits were up from £25.8m to £27.2m as Ebitda edged up slightly from £43.6m to £43.7m. Meanwhile pre-tax profits rose from £14.4m to £15.7m. The positive numbers came as memberships also climbed from 219,500 to 219,743.

Founder and executive chairman, Duncan Bannatyne said: “The business has delivered impressive results against difficult economic headwinds brought about by Government policy from April 2025. Nearly 3,000 staff throughout the UK have worked together to maintain a growing business, delivering popular services to a large cohort of loyal members.

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“The company has been an active investor in the market. It has closed underperforming clubs in some areas and opened new clubs in areas where demand was stronger. It has also invested substantial sums in new products, including advanced, all weather padel courts, which are also available to non-members.

“We will be announcing further investments in padel throughout 2026 in Norwich, Livingston, Basingstoke, Chafford Hundred, Stratford on Avon, Colchester and Grove Park. The success has been achieved in the face of an increase in the rate of employer’s National Insurance, which added £2m to the company’s costs. Meanwhile, the Government’s energy policies have failed to deliver any control on spiralling business energy tariffs at a time when energy represents 11% of the cost base of Bannatyne Group.”

Bannatyne Group now operates from 70 locations including five in the North East: Darlington, Ingleby Barwick, Coulby Newham, Durham and Chester le Street. Its portfolio includes 67 health clubs, 45 spas and three hotels.

Last year it acquired the former Beechdown Leisure Club, a premium health and wellbeing facility in Basingstoke, opened its first padel courts in Ingleby Barwick, and progressed several planning applications for 20 additional courts across its estate, and closed a site at Whitworth Street, Manchester.

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Mr Bannatyne also added: “Our investment in people has been focused on a sector leading apprenticeship programme, which facilitates progression within peoples’ roles. A long-term career is achievable at Bannatyne Group. Our business is led by people who have real expertise in the field of health and fitness and have introduced some ground-breaking programmes, which are popular with members.”

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NANO Nuclear Energy: Making Moves In The Drawdown

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NANO Nuclear Energy: Making Moves In The Drawdown

NANO Nuclear Energy: Making Moves In The Drawdown

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EQB Inc. (EQB:CA) Shareholder/Analyst Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

EQB Inc. (EQB:CA) Shareholder/Analyst Call April 8, 2026 10:00 AM EDT

Company Participants

Lemar Persaud – VP & Head of Investor Relations
Naveen Natarajan
Vincenza Sera
Michael Mignardi – Senior VP, General Counsel & Corporate Secretary
Chadwick Westlake

Conference Call Participants

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Imaad Khatri
Rashmi Ashok
David Lee
Deep Shah

Presentation

Lemar Persaud
VP & Head of Investor Relations

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Good morning. EQB’s Annual Meeting of Shareholders is about to begin. Please note that this meeting is being recorded on April 8, 2026. During the meeting, you can submit questions or comments at any time by clicking on the message icon. We now turn the proceedings over to EQB.

Naveen Natarajan

Good morning. My name is Naveen Natarajan, and I’m Director, Credit Risk Management at Equitable Bank. Before we begin today, I make the following statement on behalf of all of us. We acknowledge that EQB occupies offices on Turtle Island, a name that multiple Indigenous nations gave to the place more widely known as North America. We gathered together today on land that is steeped in rich Indigenous history, recognizing the enduring presence of First Nations, Inuit, and Métis peoples. I further acknowledge that all settlers who came willingly to the stolen land are accountable for furthering truth and reconciliation. It’s now my pleasure to turn the meeting over to Vincenza Sera, Chair of the Board of EQB.

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Vincenza Sera

Thank you, Naveen. Good morning, everyone, and welcome to our Annual Meeting of Shareholders, which I now call to order. Joining me speaking to you today is Chadwick Westlake, President and Chief Executive Officer. And in the audience, we have other members of our Board and dedicated executive leadership team. Shareholder engagement is of utmost important to us. And for that reason, we are hosting this meeting in-person and online to enable broad participation. We’re very excited to begin a new era of service, growth, and performance at EQB under

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Xiaomi: Smartphone Cost Pressures Persist, But Robotics And Agentic AI Could Drive Long-Term Upside

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Xiaomi: Smartphone Cost Pressures Persist, But Robotics And Agentic AI Could Drive Long-Term Upside

Xiaomi: Smartphone Cost Pressures Persist, But Robotics And Agentic AI Could Drive Long-Term Upside

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