The BIDs secured overwhelming mandates for a further five years in their respective ballots

Businesses in Swansea and Cardiff have voted overwhelmingly in favour of continuing their respective business improvement districts (BIDs) for a further five years.

A ballot of firms within the Cardiff BID voted 92% in favour of continuing with a 97% approval by rateable value. The new mandate also extends the borders of the BID beyond the city centre to cover Cardiff Bay – which will bring an additional £1m of levy funding for projects and services aimed at bolstering the city’s standing as a place to work, live and visit.

Its geographical extension aligns with efforts to improve connectivity between the two areas of the capital with the first phase of Cardiff Crossrail under way which will see a new tram network from Cardiff Central Station to the Bay, with plans for the next phase then reaching Atlantic Wharf with its new indoor arena at the heart of a wider mixed use regeneration project.

The new five-year term will begin in December and will continue until November 2031.

Since its establishment, FOR Cardiff has delivered a wide range of initiatives focused on improving the city environment, supporting business growth, enhancing safety and promoting Cardiff as a leading destination.

Carolyn Brownell, executive director at FOR Cardiff said: “We are delighted that businesses have once again placed their trust in FOR Cardiff and have voted in a landmark result which is testament to the hard work of the team.

“This result reflects the value businesses see in a strong, collaborative voice for Cardiff and comes at a pivotal moment as we prepare to welcome Cardiff Bay into the BID area from December. This expansion presents a unique and fantastic opportunity to bring together the city centre and waterfront, creating an even stronger and more connected business community.

“We look forward to working with businesses across the capital to deliver ambitious projects and ensure Cardiff continues to thrive.”

Of the 955 firms in the Swansea BID ballot, 84.1% voted in fair of another five year term. Andrew Douglas, Swansea BID manager, said; “To be re-elected for a fifth consecutive term is an incredible achievement and one that everyone involved with Swansea BID is immensely proud of.

“The fact that our business community has once again placed its trust in us is a real vote of confidence in everything we’ve achieved together over the past 20 years. I’d like to thank every business that took part in the ballot and everyone who has supported Swansea BID over the years. We never take that support for granted.

“We’re excited about what lies ahead. Swansea is a city with huge ambition and enormous potential, and over the next five years we’ll continue working with businesses, Swansea Council and our partners to make the city centre an even more vibrant, welcoming and successful destination. Our focus remains on delivering real value for our levy payers while helping ensure Swansea is a brilliant place to visit, work, shop and invest.”

Over the next five years, Swansea BID said it will continue to deliver a programme of business support, city centre promotion, events, marketing, safety initiatives and environmental improvements, ensuring the city centre “remains competitive, attractive and resilient.”

CORSIA requires airlines to offset emissions growth via carbon credits. Southeast Asia could nearly triple its CEEU supply if governments authorize 54 pending projects across Vietnam, Thailand, and Myanmar. However, uneven Article 6 readiness and institutional capacity across ASEAN nations pose challenges to scaling high-quality carbon credit supply for CORSIA compliance.

Key Points

• CORSIA requires airlines to offset CO2 emissions above 85% of 2019 baseline by purchasing carbon credits (CEEUs); Asean supplies ~7% globally, mainly clean cookstoves in Cambodia and Laos, with potential to grow eightfold to 20.8 million units if governments authorize 54 pending projects across Vietnam, Thailand, and Myanmar.
• Boeing-backed report says Asean could strengthen CORSIA by expanding access to high-quality, lower-cost credits, easing rising compliance costs airlines face as credit prices tighten, while channeling climate finance regionally.
• Challenges remain: uneven Article 6 readiness and institutional capacity across Asean states, with governments cautious about overselling credits and jeopardizing their own NDC targets, limiting how quickly new supply can be authorized.

CORSIA’s Emissions Offsetting Mandate

CORSIA aims to keep international aviation’s net emissions flat by requiring airlines to offset any carbon dioxide growth above 85% of 2019 baseline levels. Airlines achieve this by purchasing and cancelling CORSIA-Eligible Emissions Units (CEEUs), each representing one tonne of CO2 reduced or removed elsewhere.

More than 130 countries participate, including seven Southeast Asian nations—Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. This creates mandatory demand for verified carbon credits, positioning the compliance market as a critical mechanism for balancing aviation’s growing environmental footprint against measurable climate action elsewhere.

Southeast Asia’s Emerging Supply Potential

Asean could become a major supplier of high-integrity carbon offsets, according to a report backed by Boeing, GenZero, and Abatable. The region already contributes roughly 7% of global CEEU supply, with 2.6 million credits issued from four clean cookstove projects in Cambodia and Laos.

This supply could grow nearly eightfold—to 20.8 million units—if governments swiftly issue Letters of Authorization (LoAs) for 54 additional qualifying projects, including 24 in Vietnam, 11 in Thailand, and 8 in Myanmar. Boeing’s Allison Melia emphasized that clear policy guidance and government-industry collaboration are essential to unlocking this potential, especially as tightening credit markets threaten to raise airlines’ compliance costs by billions of dollars in coming decades.

Institutional Gaps and Article 6 Readiness

Despite this opportunity, CORSIA implementation poses significant challenges for Asean governments. Environment ministries face the risk of “overselling” credits, potentially undermining their own Nationally Determined Contributions (NDCs) if too many units are authorized for export through corresponding adjustments under the Paris Agreement’s Article 6 framework.

Institutional readiness varies widely across the region. Singapore, Indonesia, Thailand, Vietnam, and Cambodia have adopted Article 6 frameworks, while Malaysia’s is still developing. Laos hosts CORSIA-eligible projects without a formal framework, and the Philippines and Singapore have completed a bilateral carbon deal absent a comprehensive rulebook. Brunei, Myanmar, and Timor-Leste remain in early stages, underscoring the need for stronger regional coordination and capacity-building to fully capitalize on CORSIA-driven demand.

Source : Asean poised for US$8.5bn windfall from UN-backed airline carbon scheme

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Polibeli Group Ltd. shares jumped more than 18% to close at $10.26 Thursday, extending gains as the digital supply chain company advances its strategic expansion into artificial intelligence computing infrastructure, attracting investor interest in the competitive technology sector.

The recent rally reflects growing enthusiasm around Polibeli’s pivot from its core B2B procurement platform to high-growth AI opportunities in Southeast Asia. The company, which listed on Nasdaq earlier this year, has announced several initiatives aimed at capitalizing on regional data center demand.

Polibeli’s core business provides digital supply chain services connecting small and medium-sized retailers with suppliers across Indonesia, Japan and other markets. The company offers procurement, logistics, warehousing and digital marketing solutions while dealing in consumer electronics, household goods and beauty products.

Recent strategic moves have shifted focus toward AI infrastructure. In June, Polibeli launched a review of opportunities in AI computing services, citing the global technology trend and its regional presence as key advantages for potential projects.

The company signed a non-binding memorandum of understanding to explore development of a large-scale AI computing center in Thailand, marking a concrete step toward infrastructure ambitions. While early-stage, the initiative signals commitment to diversification beyond traditional supply chain operations.

Leadership and Operational Updates

Polibeli has undergone leadership transitions in recent months, appointing Meijun Liang as chief financial officer following the resignation of a previous executive. Such changes often accompany strategic refocus in small public companies seeking to execute ambitious growth plans.

The company reported full-year 2025 financial results showing revenue of approximately $26.42 million with ongoing losses typical of growth-stage firms investing in platform development and new initiatives. Management has emphasized long-term value creation through technology expansion.

As a newly public entity, Polibeli is navigating reporting requirements and market expectations while building its AI strategy. The Nasdaq listing provides access to capital markets essential for funding infrastructure projects that require substantial investment.

AI Infrastructure Opportunity in Southeast Asia

Southeast Asia has emerged as an attractive region for data center development due to improving infrastructure, government incentives and growing digital economy demands. Countries including Thailand, Indonesia and Malaysia are actively courting technology investments.

Polibeli’s existing customer networks and regional expertise provide potential advantages in identifying and executing AI-related projects. The company aims to complement its supply chain operations with computing infrastructure services targeting enterprise clients.

Competition in the data center space is intensifying, with major players and regional operators vying for market share. Success will depend on securing partnerships, financing and technical capabilities to compete effectively.

Analysts note that while AI infrastructure offers substantial growth potential, execution risks remain high for smaller companies entering the capital-intensive sector. Polibeli’s track record in logistics and digital platforms may provide operational synergies.

Market Reaction and Volatility

The stock’s strong performance Thursday reflects momentum trading and positive sentiment around AI themes. Trading volume was elevated as retail and institutional investors repositioned around the company’s strategic announcements.

Polibeli shares have shown significant volatility since listing, typical of small-cap technology companies with evolving business models. The recent surge has pushed the market capitalization into mid-cap territory, though valuation metrics remain elevated given current financials.

Investors are betting on successful execution of the AI pivot while acknowledging near-term challenges including integration costs and competition. Short-term price action may continue reflecting news flow and market sentiment.

Broader Context for Small-Cap Tech Stocks

Small technology companies pursuing AI opportunities have captured significant investor attention amid broader sector enthusiasm. SPAC mergers and direct listings have provided pathways to public markets for many emerging firms.

Polibeli’s transition demonstrates how established regional businesses can reposition for growth in high-potential technologies. Similar stories have played out across various sectors as companies seek to capitalize on artificial intelligence trends.

Regulatory considerations for data centers include energy consumption, environmental impact and data sovereignty requirements. Southeast Asian governments are balancing development incentives with sustainability goals.

The company’s cosmetic and wellness products, including milk-derived exosome essences and plant extracts, provide some revenue diversification while research services in cell technologies support longer-term innovation.

Outlook and Strategic Priorities

Management has outlined plans to leverage existing strengths in technology and regional presence to build AI capabilities. Capital raised through the public listing will support project development and potential acquisitions.

Upcoming financial reports will provide updates on integration progress and early AI initiative performance. Investors will scrutinize cash burn rates, partnership announcements and regulatory milestones.

The biotechnology and regenerative medicine aspects of Polibeli’s portfolio, including research into armed T-cells and exosomes, offer additional growth avenues complementing the AI infrastructure focus.

As a Cayman Islands holding company with operations in Taiwan and Southeast Asia, Polibeli navigates cross-border regulatory environments. Compliance with Nasdaq listing standards and U.S. reporting requirements adds operational complexity.

Long-term success will depend on translating strategic vision into revenue-generating projects while managing execution risks inherent in capital-intensive technology deployments. The company’s diversified approach may provide resilience across economic cycles.

Polibeli’s Nasdaq performance highlights continued market appetite for innovative technology stories in emerging markets. As the company advances its initiatives, stakeholder attention will focus on milestones demonstrating progress toward sustainable growth and profitability.

Andy Burnham, the man expected to walk into Downing Street later this month, has told business owners there is “some room” for movement on tax, signalling a rebalancing of the business rates system away from the high street and towards the vast warehouses of the online giants.

In his first broadcast interview since launching his bid to become prime minister, the newly elected Makerfield MP told LBC’s Andrew Marr that pubs, clubs and music venues would receive a 20 per cent cut in business rates under his plans, while smaller independent hospitality, leisure and retail firms would see the threshold for paying rates raised for the first time since 2017.

The cost, he said, would be met by higher levies on the giant distribution sheds operated by online retailers such as Amazon, alongside measures targeting the owners of empty high street properties, a formula that will be welcomed by the three pubs and restaurants closing every day under the weight of rising costs and tax increases.

Crucially for firms planning ahead of the autumn Budget, Burnham insisted he would honour Labour’s 2024 manifesto pledges not to raise VAT, income tax or national insurance. “I stick by the manifesto and the promises that it made,” he said. “So, let me be absolutely clear about that, but there is some room within that manifesto for movement on tax.”

The intervention comes at a delicate moment for the sector. From April 2026, the government replaced retail, hospitality and leisure relief with permanently lower business rates multipliers for qualifying properties, yet UKHospitality has warned that the 2026 revaluation still leaves many operators facing sharply higher bills. Any further relief funded by warehouse levies would mark a significant redistribution of the tax burden.

Burnham was also at pains to shore up his economic credibility, an issue that matters to the eight in ten SME owners who say they fear what a Burnham premiership would mean for their business. He has previously drawn criticism for suggesting the UK had “got to get beyond this thing of being in hock to the bond markets”, and some on the left of the Labour Party want borrowing rules relaxed to fund higher public spending.

Pressed on the point, Burnham insisted he would not be “indisciplined” with the public finances, pointing to Greater Manchester’s “rock solid” books during his time as mayor and his earlier stint as a Treasury minister in the last Labour government.

The bigger fiscal headache awaiting him is defence. Sir Keir Starmer this week announced a £15bn increase in defence spending without fully explaining where the money would come from, leaving whoever Burnham appoints as chancellor to find at least £4.7bn in savings from other departments at their first Budget this autumn.

“I wasn’t in all of the discussions, but to be fair, the government had had an internal process ongoing,” Burnham said. “What I can say to you tonight is I will take my responsibilities fully to fund the defence investment plan, if I am in the position to do so.”

Conservative leader Kemi Badenoch has accused Sir Keir of “leaving this mess to his successor” and argued the shortfall should be bridged by cutting the welfare bill rather than new taxes. Burnham, for his part, ruled out “crude cuts to benefit levels that just put people who are struggling in even worse poverty”, saying he would instead reduce the benefits bill through better technical education, work placements for 16 year olds and mental health support for those in work.

Burnham remains the only candidate to replace Sir Keir as Labour leader and is expected to become prime minister on 20 July. He has yet to name his chancellor, amid speculation the role could go to Ed Miliband, and his backing among parts of the sector is already building, with the night time industries body throwing its weight behind his push for a hospitality VAT cut.

For SME owners, the message from the presumptive prime minister is a familiar political balancing act: no movement on the big three taxes, but a clear signal that the way business property is taxed is about to change, with the high street the intended winner and the warehouse the intended payer.

As Americans gear up to celebrate America’s 250th birthday, many major retailers and restaurants will stay open, close or operate with reduced hours on July 4.

Big-box and grocery stores, including Sam’s Club and Kroger, and several restaurants, including Olive Garden and Taco Bell, will stay open on the holiday. Other chains, including McDonald’s and Whole Foods, will remain open with adjusted operating hours.

Take a look at which major U.S. retailers will stay open for last-minute shopping runs, and which ones will stay closed:

BELOVED PIZZA CHAIN TURNS AMERICA’S 250TH BIRTHDAY INTO SUMMER-LONG CELEBRATION

Costco

The iconic warehouse chain will close on July 4. (Justin Sullivan/Getty Images)

The warehouse chain will be closed for the July 4 holiday, according to their official website.

Target

Target stores are open during regular hours, but customers are encouraged to check with their local store to confirm hours, the company said in a statement.

Walmart

Walmart stores are open with normal operating hours, the company told FOX Business.

Kroger

Kroger stores will be open, but pharmacy and clinic hours may vary, according to the chain’s website.

Sam’s Club

The Costco competitor, Sam’s Club, will be open with normal operating hours, a spokesperson told FOX Business.

Whole Foods

Whole Foods will be open but close early, according to a statement provided to FOX Business.

“On July 4th, most Whole Foods Market stores will open at their regular time and close early, at 6:00 p.m., with a few exceptions,” the statement read.

Trader Joe’s

Trader Joe’s stores will remain open until 5 p.m. local time on July 4. (Trader Joe’s)

All Trader Joe’s locations will be open until 5 p.m. local time, according to the company’s website.

Dollar General

Dollar General will be open during their regular hours, which may vary by location, the company said in a statement.

Kohl’s

All Kohl’s stores will be open from 9 a.m. until 7 p.m. local time, but store hours may vary by location, according to a statement provided by the company.

Macy’s

Macy’s stores will remain open on July 3 and 4, but hours may vary by location, according to a statement provided by the company.

Home Depot 

Home Depot will be open and close at 8 p.m. local time, according to the company’s website.

CVS

CVS, a partner of America250, will be open. (Zak Bennett/Bloomberg via Getty Images / Getty Images)

CVS locations will be open, though some locations will operate at reduced hours, according to the company’s website.

CVS is also partnering with America250 to play a role during celebrations in major cities like New York, Los Angeles and Boston, while maintaining a presence during parades and block parties in smaller markets.

Walgreens

Walgreens stores will operate under their regular business hours, according to a statement on the company’s website.

“Unlike previous years – when stores remained open, but most pharmacies were closed – Walgreens will keep more than 4,000 pharmacy locations open,” the company said. “This expanded availability enhances timely access to prescriptions, over-the-counter treatments, and onsite pharmacist support when patients need it most.” 

Burger King

Burger King hours will vary by franchise location, according to a statement provided to FOX Business. The company encourages guests to confirm their location’s hours in person, online or through the Burger King app.

Chick-fil-A

U.S. Chick-fil-A restaurants are open on July 4, according to the company’s official website.

Chipotle

Most U.S. Chipotle locations will close at 3 p.m. local time, according to a statement provided to FOX Business.

MCDONALD’S BRINGING BACK FRIED APPLE PIE TO CELEBRATE AMERICA’S 250TH BIRTHDAY

Dunkin’

Dunkin’ will be open on normal operating hours. (Drew Singh/Newsday RM via Getty Images / Getty Images)

Dunkin’ will keep America running on the 4th as stores will be open during normal operating hours, according to a statement the coffee chain provided to FOX Business.

KFC

KFC encourages customers to check with their local locations for updated hours, according to a KFC spokesperson.

McDonald’s

Most McDonald’s locations are open on U.S. holidays, but hours may vary by location, according to a statement provided to FOX Business.

Popeyes

Popeyes locations are expected to be open, the company told FOX Business. 

“Since restaurant hours are set at the local level, guests should check the Popeyes Restaurant Locator at Popeyes.com or their preferred delivery platform for the most up-to-date hours before visiting,” Popeyes said.

Starbucks

Starbucks hours may vary by location. (Mostafa Bassim/Anadolu via Getty Images)

Starbucks hours may vary by location, and the coffeehouse chain encourages customers to check with their local store for updated hours, a spokesperson for the company said.

“Coffeehouse hours vary by location, and they may occasionally adjust their hours based on business and customer needs,” the statement said. “The Starbucks app continues to be the best way for customers to find a coffeehouse, check hours, order ahead and pay.”

Taco Bell

Taco Bell will remain open on the Fourth of July, according to the company’s website.

Wendy’s

Many Wendy’s locations will be open, but the company encourages customers to check with their local restaurant as hours may vary by location, according to a statement provided by the company.

Applebee’s

Some Applebee’s locations will be open, though customers are encouraged to check with their local franchise for hours, the company said in a statement to FOX Business.

“Select Applebee’s restaurants nationwide will be open on July 4th, although hours may vary. Please contact your local Applebee’s for specific information on holiday hours as each restaurant is independently owned and operated and hours vary by location,” the company’s statement read.

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Olive Garden

Olive Garden restaurants will remain open. (Scott Olson/Getty Images / Getty Images)

Olive Garden restaurants will be fully open with no change in operating hours, a spokesperson for the chain’s parent company, Darden, said in a statement.

FedEx

FedEx locations will be closed on July 4, according to the company’s website.

UPS

UPS locations will be closed on July 4, according to the company’s website.

USPS

USPS locations will be closed on July 4, according to the official Postal Service website.