Connect with us
DAPA Banner

Business

Finance chief of FTSE-100 manufacturer Spirax quits RS Group board

Published

on

Business Live

Louisa Burdett has stepped down as non-executive director and audit committee chair

Inside Spirax-Sarco Engineering

Inside Spirax Group’s plant in Cheltenham(Image: Hannah Baker)

A major Cheltenham engineering group has announced its finance chief has stepped down from the board of one of its major distributors. London-listed Spirax confirmed on Monday (February 2) that Louisa Burdett had left the board of RS Group Plc – a FTSE-250 distributor of industrial and electrical products based in London – on January 31.

Ms Burdett joined the board of RS Group in 2017, according to its website, and has a background in financial, commercial, M&A and risk management. She served as a non-executive director and audit committee chair.

Ms Burdett was previously chief financial officer of Croda International; chief financial officer of Meggitt; group finance director at Victrex; and chief financial officer at Optos and the Financial Times Group.

She joined Cheltenham-headquartered Spirax Group, a FTSE 100 company, in 2024.

Advertisement

Spirax is made up of three businesses – steam thermal, electric thermal and fluid technology – and employs some 10,000 staff across 68 countries. It has 30 manufacturing plants around the world.

In November, the company warned over the impact of President Donald Trump’s tariffs. The group said at the time the lack of certainty was “dampening business confidence” and demand for larger projects.

The company reported a fall in profits last August amid a “challenging macroeconomic environment”. The business saw statutory revenue dip by one per cent to £822.2m for the six months to June 30, while profit before tax fell to £87.9m from £124.8m the year before.

Spirax carried out a restructure last year which it said would realise annual savings of around £35m that would be used to fund investment in future organic growth.

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Gold Falls as Inflation Concerns Remain Key Market Driver

Published

on

This week, the Federal Reserve is expected to hold rates steady for a second straight meeting, though markets will closely watch Fed Chair Jerome Powell’s remarks for cues on the path forward.

The international oil benchmark, Brent crude, remains above $100 a barrel, stoking inflation fears and dampening hopes for further rate cuts. In early trading, gold futures in New York were down 1% to $5,009.90 a troy ounce. Silver, meanwhile, was down 2.6% to $79.22 an ounce.

Continue Reading

Business

UBS Group AG (UBSS:CA) Presents at European Financials Conference 2026 Transcript

Published

on

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

UBS Group AG (UBSS:CA) European Financials Conference 2026 March 17, 2026 10:00 AM EDT

Company Participants

Todd Tuckner – Group CFO & Member of Executive Board

Conference Call Participants

Advertisement

Giulia Miotto – Morgan Stanley, Research Division

Presentation

Giulia Miotto
Morgan Stanley, Research Division

Advertisement

Right. Good afternoon, everyone. I’m pleased to be joined today by Todd Tuckner, UBS’ CFO. Thank you for being with us, Todd.

Question-and-Answer Session

Advertisement

Giulia Miotto
Morgan Stanley, Research Division

And let’s start with the polling question. So what do you think will be the primary driver of share price performance for UBS in 2026? We have a few choices. So clarity on capital, which hopefully is a few weeks away, earnings upgrades, wealth management inflows, U.S. or Asia and new additional buyback in the second half or macro driven? A very clear skill, fantastic. We will get there shortly. Or shall we comment first given there is such a clear — so we’re — let’s start with capital. We are nearing the end of the too big to fail. At least in April, we should get some sort of proposal. So what can you tell us?

Todd Tuckner
Group CFO & Member of Executive Board

Advertisement

Well, look, Giulia, first of all, thanks for having me, and hello, everyone. For sure, on the issue of capital reform, we have been advocating pretty consistently for outcomes that are internationally aligned, targeted specifically to the Credit Suisse issues and proportionate. And in fact, that was the tenants outlined by the Swiss government itself when it developed a framework for financial stability reform 2 years ago. Unfortunately, when the proposals were issued in June of last year, they were sort of none of the above. And as a result, they — if those proposals were adopted as currently worded, we believe it would make us a pronounced outlier versus peers in terms of the level of capital and equity

Advertisement
Continue Reading

Business

Fintel hails ‘defining’ year after big rise in revenues

Published

on

Business Live

The Yorkshire firm said an acquisition made last year had boosted its performance

Fintel's HQ.

Fintel House, the firm’s Huddersfield headquarters.(Image: Supplied by Ally Bayne of MHP Group. Ally.Bayne@mhpgroup.com)

Financial services company Fintel has hailed a “defining” year after publishing accounts in which its turnover increased by almost 10%.

The Huddersfield firm has issued results for 2025 in which its revenues went from £78.3m to £85.9m. Operating profit also increased, to come in at £12.5m.

Fintel said that SaaS (software as a service) and subscription revenue had gone up 9.6% to £48.7m, and its EBITDA margin had increased to 30.1%. It highlighted the role played by the acquisition of Rayner Spencer Mills Research during the year, which contributed £3.4m of revenue and £1.1m of EBITDA to the results.

Fintel’s net debt rose during the year to stand at £31.1m, but it said it had a strong balance sheet with £17.3m of cash and £72.5m of available headroom within its credit facility, providing flexibility for further organic and inorganic investment.

Advertisement

CEO Matt Timmins said: “2025 has been a defining year for Fintel, creating a simpler, more unified and scalable platform that sets the foundation for the next phase of our growth. Technology, data and regulation continue to reshape the UK retail financial services market, and Fintel’s unique combination of market-leading software, enriched proprietary datasets and insights, and distribution platforms, places us at the centre of this transformation.

“Looking ahead, our ambition is clear: to build the most connected, insight rich and intelligent platform in the sector, enabling better decisions and better outcomes across the entire advice ecosystem.

“We have entered the new financial year with clear strategic momentum, high levels of recurring revenues and a stronger platform enabling opportunities for organic growth, underpinned by deep customer relationships. Fintel has made a strong start to FY26, with trading in line with the board’s expectations; the group is poised to accelerate its strategy to deliver long term value for advisers, partners and shareholders alike.”

The company is proposing to pay a final dividend of 2.5 pence per share, resulting in a full year dividend of 3.8 pence per share. That would be an increase of 4.1% on the previous year.

Advertisement
Continue Reading

Business

The Stock Market’s Biggest Investors Are Pulling Back. But They’re Optimistic on 1 Key Point.

Published

on

The Stock Market’s Biggest Investors Are Pulling Back. But They’re Optimistic on 1 Key Point.

The Stock Market’s Biggest Investors Are Pulling Back. But They’re Optimistic on 1 Key Point.

Continue Reading

Business

Uber (UBER) Stock Climbs Over 5% in Midday Trading on March 18, 2026, Fueled by Robotaxi Partnerships

Published

on

The Uber logo is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City

Uber Technologies Inc. (NYSE: UBER) shares surged more than 5% in midday trading Wednesday, March 18, 2026, building on momentum from recent announcements of major robotaxi collaborations and expanding autonomous vehicle ambitions that have investors betting on the ride-hailing giant’s future in driverless mobility.

The Uber logo is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City
The Uber logo is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City

As of around 11:00 a.m. EDT, UBER traded at approximately $78.50, up $3.84 or 5.14% from Tuesday’s close of $74.66, according to real-time data from Yahoo Finance and other platforms. Volume approached 5 million shares in the opening hours, signaling strong interest amid broader market gains. Pre-market trading had already shown strength, with shares quoted as high as $76.28 before the bell.

The rally follows a series of high-profile developments in Uber’s autonomous strategy. Earlier this month, Uber announced partnerships to deploy robotaxis, including a deal with Amazon’s Zoox unit to integrate self-driving vehicles into the Uber app in select cities, starting with plans for Los Angeles and San Francisco by 2027. The collaboration, paired with Nvidia’s technology for scaling to 28 global cities, positions Uber as a leader in commercializing Level 4 autonomy without owning the fleet.

Additional announcements included robotaxi launches with Motional in Las Vegas, collaborations with Nissan and Wayve in Japan, and ongoing expansions in other markets. Analysts have described these as “deal after deal” moves that bolster Uber’s platform as the go-to marketplace for autonomous rides, potentially reducing driver costs and boosting margins long-term.

“Uber is doubling down on robotaxis with bold partnerships,” one analyst noted in a recent report. The moves come after a period of underperformance, with shares down about 12% over the prior three months amid concerns over Q1 2026 guidance and broader market pressures on growth stocks.

Advertisement

Despite the recent dip, Uber’s fundamentals remain solid. The company guided for first-quarter gross bookings growth of 17% to 21% year-over-year on a constant-currency basis, reflecting resilience in mobility and delivery segments. Uber continues to benefit from network effects, with increasing trip volumes and higher average bookings per trip.

Analyst sentiment leans strongly positive. Consensus ratings hover at Buy, with average price targets ranging from $103.81 to $107.64 across firms like Jefferies, Evercore ISI, Wedbush and others. Some targets reach as high as $150, while the low end sits at $70. Recent upgrades and reiterations emphasize Uber’s path to profitability through platform scale, acquisitions like Getir Türkiye, and autonomous upside.

The stock’s 52-week range spans roughly $60.63 to $101.99, with an all-time high of $100.10 reached in October 2025. Current levels place UBER below that peak but well above lows, supported by a market capitalization exceeding $150 billion.

Challenges persist, including regulatory scrutiny over pricing practices — with reports of U.S. probes into potential AI-driven surveillance pricing — and competition in delivery and mobility. Uber and peers like Lyft have faced questions about dynamic pricing algorithms, though no major resolutions have emerged.

Advertisement

Uber’s diversification into freight, advertising and other verticals adds revenue streams beyond core rides. The company’s focus on higher-margin opportunities, including Uber Eats enhancements and luxury services like “Uber Elite,” contributes to improving profitability metrics.

Market observers note that autonomous vehicle progress remains a key catalyst. Partnerships with established players like Zoox (Amazon), Motional, Nissan and Wayve reduce capital intensity for Uber while accelerating deployment. Nvidia’s involvement in compute and mapping further enhances scalability.

As trading continues March 18, attention turns to whether UBER can sustain gains toward recent highs or encounter resistance near $80. Broader tech sector performance and any fresh autonomous updates could influence direction.

Uber, founded in 2009 and public since 2019, has evolved from a ride-hailing disruptor to a multifaceted mobility platform. CEO Dara Khosrowshahi has emphasized becoming the “Amazon of transportation,” leveraging the app’s reach for diverse services.

Advertisement

With ongoing robotaxi momentum and analyst backing, UBER’s recent surge underscores investor confidence in its ability to navigate regulatory and competitive landscapes while capitalizing on emerging technologies.

Continue Reading

Business

South Yorkshire mayor outlines major vision for transport upgrade

Published

on

Business Live

Oliver Coppard wants the South Yorkshire People’s Network to bring together improved buses, trams and trains under one unified branding

Launch of the South Yorkshire People's Network

Launch of the South Yorkshire People’s Network(Image: Copyright Unknown)

South Yorkshire mayor Oliver Coppard has unveiled a “vision” for public transport in his area that would bring buses, trams and trains under his control with one unified branding.

Mr Coppard has described the South Yorkshire People’s Network as a ‘once-in-a-generation’ change, with potential schemes extending over the next two decades. They include opening a new tram train station at the Magma centre, bus franchising in Doncaster and Sheffield next year, a new e-bike subscription scheme and an extension of free bus travel for all under 18s from Barnsley to Sheffield.

But he stressed that the document is a ‘vision’ rather than a plan – with many of the schemes aspirations that current do not have funding attached – and highlighted hopes for the 2030s and 2040s, including more fast trains between Sheffield and Leeds, expansion of the area’s tram network, all rail stations in South Yorkshire becoming step free and improvements to the Penistone line.

Mr Coppard said the People’s Network – which has been inspired by the Bee Network in Greater Manchester – would be built around the principles of freedom and chose, prioritising people, affordability, safety, matching the area’s growth ambitions and being fit for the future. A unifying colour scheme of molten orange, grey and asphalt black aims to reflect the area’s industrial heritage.

Advertisement

Mr Coppard said: “Transport isn’t just about getting from A to B. A proper public transport network gives people real freedom and choice about how they travel and move, connects people to opportunity and opens up new horizons.

South Yorkshire mayor Oliver Coppard

South Yorkshire mayor Oliver Coppard (Image: Copyright Unknown)

“But public transport in South Yorkshire has been broken for too long. I promised to make change happen, to give South Yorkshire back the world class public transport system we once had, and that’s exactly what we’re doing.

“That’s why we’re putting in a huge investment to fix our public transport system, backed by even greater ambition, so that we can build something that truly works for all of us across South Yorkshire; a real People’s Network.”

Information sessions are being planned in Sheffield, Rotherham, Barnsley and Doncaster this week to give local residents more information on the scheme.

Advertisement

Support for the vision has come from Jason Prince, director of the Urban Transport Group, Henri Murison, chief executive of the Northern Powerhouse Partnership, and former Sheffield MP Lord Blunkett, author of the White Rose transport plan.

Lord Blunkett said: “We have a real opportunity to transform the way people travel, improving connections to support economic growth and open up opportunities for individuals and businesses alike. A transport network that works for everyone is essential to the future of South Yorkshire, as it was in the past, and the vision is a vital step towards achieving this.”

Continue Reading

Business

Enphase Energy Stock Sees RS Rating Climb To 83

Published

on

Enphase Energy Stock Sees RS Rating Climb To 83

The Relative Strength (RS) Rating for Enphase Energy (ENPH) stock entered a new percentile Tuesday, with an increase from 80 to 83.   Looking For The Best Stocks To Buy And Watch? Start Here This unique rating measures market leadership by showing how a stock’s price movement over the last 52 weeks measures up against that of other stocks on…

Continue Reading

Business

Nighttime economy leaders demand council saves Bristol Nights project as industry is ‘on its knees’

Published

on

Business Live

Open letter says decision affects ‘not only businesses but thousands of workers, creatives and community members’

Park Street, Bristol, at nighttime.

Park Street, Bristol, at nighttime(Image: ShotAway via Bristol City Council)

About 100 representatives from Bristol’s nighttime economy and cultural sector have signed an open letter urging the city council’s leader to reverse a decision to scrap the Bristol Nights project.

Advertisement

As reported, the Green-led local authority decided behind closed doors to terminate the partnership which has introduced a series of successful public safety campaigns, including anti-spiking measures, drug safety, Bristol Rules, Women’s Safety Charter and Thrive at Night.

The council’s nighttime economy advisor is also being made redundant.

Opposition Labour branded the move ‘outrageous’ and demanded a rethink and a full debate in public.

Now about 100 organisations and individuals have joined the outcry and put their names to a letter to council leader Cllr Tony Dyer (Green, Southville) demanding the continuation of Bristol Nights.

Advertisement

They include many local heavyweights from the industry, such as Lakota, Love Saves The Day, FORWARDS, Watershed, Trinity Community Arts, Thekla, Bristol Old Vic, and the O2 Academy Bristol.

Their letter said: “We write collectively as representatives of Bristol’s nighttime economy, including Bristol’s venues, restaurants, promoters, festivals, freelancers, suppliers and cultural organisations who contribute to the life of this city after dark.

“We are concerned and shocked by the attempt to quietly close down Bristol Nights and silently make redundant the position of Bristol’s nighttime economy advisor with absolutely no engagement with, or involvement in the process from, any stakeholders or business within the city that the position represents.

“As a sector we helped to create and deliver the work of Bristol Nights alongside the council.

Advertisement

“We are proud to call ourselves the Bristol Nights community.

“Many of us have volunteered our time and expertise freely because we believe that together, we make life in Bristol a better place after dark.

“This decision affects not only businesses but the thousands of workers, creatives and community members whose livelihoods depend on Bristol’s nighttime economy.

“Bristol’s nighttime economy is not a niche sector. It is a major employer, a cultural export, a tourism driver and a defining part of the city’s identity.

Advertisement

“It sustains thousands of jobs, from artists and technicians to security staff, bar workers, taxi drivers and hospitality teams.”

They said Bristol Nights was a strategic commitment that acted as a bridge between operators and the council and a vehicle for coordinated policy and safety initiatives.

The letter said: “Removing the role of the nighttime economic advisor and mothballing the initiative means fragmentation, reduced safety collaboration, loss of sector confidence, and reflects a deprioritisation of nightlife at the council.

“Let us be unequivocally clear here, the nighttime hospitality industry is on its knees, independent venues and promoters are on their knees and we are currently looking at global affairs that as of today we can see imminent price increases and returning rise in inflation that has already wiped out many great operators in the city and has led to many more operating on the brink.

Advertisement

“The timing and the secrecy of the decision to take away our only dedicated representative in the city council could not have been more poorly planned and indeed negligent towards a crucial sector of Bristol’s economy.

READ MORE: Tallest South Bristol tower approved after councillors warned they could lose an appealREAD MORE: Bid for 400 homes near M5 clears first hurdle

“We recognise the financial pressures facing the council. However, the economic contribution of Bristol’s nighttime sector far outweighs the cost of strategic coordination.

“Given the nighttime economy’s diverse workforce and the disproportionate number of people from marginalised communities who rely on it for employment and opportunity, we believe decisions affecting the sector should be taken transparently and with proper consideration of their wider equality and community impacts.

Advertisement

“We call on our elected councillors to reverse the council’s decision to disband Bristol Nights and the position of the NTE advisor, and invite a renewed spirit of collaboration to help resolve this issue.”

Cllr Dyer told Bristol City Council member forum last week that Bristol Nights was a ‘brilliant and successful campaign which I support’.

He said population health priorities would continue to be addressed by the authority’s public health team, including those in the nighttime economy.

Cllr Dyer said: “Safety at night will continue to be the responsibility of a range of wider partners including the Community Safety Partnership and we take this work incredibly seriously – especially Bristol Rules, which has been a joint university-sponsored initiative and will be reviewed and developed with, and by, the relevant partners.

Advertisement

“We are looking to continue the work that has been done in this area previously and how that would be funded going forward and who would be involved as well as Bristol City Council.”

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

Continue Reading

Business

Dozens of companies considering Swindon moves as ‘inward investment pipeline is one of the strongest we’ve seen in years’

Published

on

Business Live

Officials say thousands of jobs could come to borough

Matthew Byrom, MD of Panattoni, left, with Swindon council leader Jim Robbins

Matthew Byrom, managing director of Panattoni, left, with Swindon council leader Jim Robbins(Image: Local Democracy Reporting Service)

Thirty companies are in active discussion with Swindon Borough Council about setting up in the borough, potentially bringing thousands of jobs, councillors have been told.

Advertisement

Swindon Borough Council leader Councillor Jim Robbins briefed members on the authority’s Build a Better Swindon policy and performance committee about the work of the inward investment team at Euclid Street.

Last week Cllr Robbins told his cabinet colleagues that it had been a difficult decision to set up the team shortly after Labour came to power in May 2023, given the council’s financial straits. But his report to the committee said it was paying off.

He said: “The team has already brought 1,400 new jobs to Swindon and the inward investment pipeline is one of the strongest we’ve seen in years – it has 30 active projects on the go, with the potential of thousands of high-quality jobs coming.

“We are seeing a level of interest that many other places would really envy.”

Advertisement

Cllr Robins highlighted the arrivals of defence drone manufacturers Stark and Tekever, with other companies in the sector also announcing they were coming to the borough.

Five drone-makers have already set up here or said they will, with another four on their way according to an announcement Cllr Robbins made at last week’s cabinet meeting.

The speed with which Panattoni is developing the old Honda site, and the level of interest shown in moving there was mentioned, with Cllr Robbins saying: “I’m not good at keeping secrets, but I can’t tell you here.”

And Swindon might also be in the running to get the Open University to come as well.

Advertisement

Asked by Councillor Abdul Amin about whether there was any prospect of higher education provision increasing, Cllr Robbins said: “We have a bid in with the government which is specifically around skills in the defence industries.

“Devolution will give us some opportunities with investments into specific skills.”

Cllr Robbins said the council was in conversations with a range of institutions: “Bristol, Bath, UWE, Bath Spa, The Open University, Oxford. We’re talking to everyone and seeing what the options are.

He added: “Based on the way higher education funding is going, it’s unlikely we’ll get a stand-alone University of Swindon, but we could easily generate lots of different bits of existing universities to come here and open courses.

Advertisement

“The Open University model is an interesting one: they still focus on distance learning, but they are looking at having a number of hubs around the country. Because Swindon is classed as a cold spot for higher education, we are in the running for one of those hubs.

“The Open University is keen to come and talk to us and I think we expect to have an event planned for just after the election.”

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

Advertisement
Continue Reading

Business

New Fortress Energy reaches debt restructuring deal with creditors

Published

on


New Fortress Energy reaches debt restructuring deal with creditors

Continue Reading

Trending

Copyright © 2025