Move follows consultation involving hundreds of local people

A planning application to transform the Longfield Centre in Prestwich has been submitted to Bury town hall.

The plans by urban developers Muse and the council aim to create a new town centre in the place of the deteriorating 60s shopping precinct. The submission follows a second six-week consultation period where more than 550 members of the public shared their views on the scheme.

The application includes 258 new homes on the site of the former library and Longfield Suite – a former dancehall and community centre. Around a quarter of these – 62 homes – will be available as affordable housing at 80 per cent of the market rent.

There are also designs for a new community hub with a library and events space, a public green, a gym, and room for local traders.

Hugh Taylor, senior project manager at Muse, said: “The submission of this planning application is a major milestone for Prestwich.

“We know how important community space is and this next phase is about delivering just that. We’ve updated the masterplan to feature more places for people to get together both in the new larger library and expanded village square.

“With the travel hub due to open this summer, there is real momentum behind this project, and we look forward to working with Bury Council to bring these plans to life.”

The developers also pledged to create a new health centre for the neighbourhood – though plans for this are ‘currently still in development’.

If approved, the development would mark phase two of a £100m+ regeneration scheme for the area, with a £35m Good Growth funding boost secured from GMCA.

Phase one was the £14m new car park and cycle storage unit on Fairfax Road, which is nearing completion.

The plans have not yet been validated on the council website but should be available to view and comment on soon.

European stocks are drawing renewed attention from global investors in 2026 as the STOXX 600 trades near record levels despite geopolitical tensions and energy price swings, with analysts pointing to attractive valuations, sector-specific tailwinds and potential earnings growth in areas like artificial intelligence infrastructure, defense spending and healthcare innovation.

As the pan-European benchmark navigates mixed signals from the ongoing U.S.-Iran conflict and broader macroeconomic uncertainty, strategists at firms including Goldman Sachs, Morgan Stanley and Morningstar see selective opportunities in high-quality EU-listed companies. Many trade at discounts to U.S. peers while benefiting from structural trends such as rearmament, AI adoption and the green energy transition.

Here are 10 EU stocks frequently cited by analysts as compelling buys for 2026, spanning key sectors and offering a mix of growth potential and relative value:

1. ASML Holding NV (Netherlands)

The Dutch semiconductor equipment leader remains a cornerstone pick for investors betting on AI-driven demand. ASML dominates the market for extreme ultraviolet (EUV) lithography machines essential for producing advanced chips. Despite recent volatility tied to broader tech swings, analysts highlight its irreplaceable position in the global supply chain. Consensus targets suggest upside as chipmakers ramp up capacity for artificial intelligence applications.

2. Novo Nordisk A/S (Denmark)

The Danish pharmaceutical giant continues to ride strong demand for its blockbuster obesity and diabetes treatments, including semaglutide-based drugs. Morningstar and other firms maintain positive outlooks, citing innovation pipelines and expanding global markets even as competition intensifies. Novo Nordisk frequently appears in “Granolas” discussions — a group of leading European growth names — with analysts viewing any pullbacks as potential entry points amid resilient healthcare spending.

3. Rheinmetall AG (Germany)

Defense stocks have gained prominence as European nations boost military budgets amid geopolitical risks. Rheinmetall, a key supplier of vehicles, munitions and systems, benefits from Germany’s increased spending commitments and broader NATO rearmament efforts. Multiple analysts, including those at Goldman Sachs and Barclays, project significant revenue visibility through the decade, making it one of the more frequently recommended cyclical plays for 2026.

4. SAP SE (Germany)

Europe’s leading enterprise software provider is positioning itself at the intersection of AI and digital transformation. SAP’s cloud migration and AI-enhanced solutions for businesses are expected to drive growth as companies modernize operations. Strategists note its relatively attractive valuation compared with U.S. software giants, with potential for earnings upgrades if European economic recovery gains traction.

5. LVMH Moët Hennessy Louis Vuitton SE (France)

The luxury goods powerhouse offers exposure to global consumer trends, particularly in high-end fashion, watches and spirits. Early 2026 signs of stabilizing demand in key markets like the U.S. and China have supported sector sentiment. Morningstar analysts have highlighted luxury names in their Q1 picks, citing potential recovery in discretionary spending despite near-term economic crosscurrents.

6. Airbus SE (France/Netherlands)

The aerospace manufacturer stands to gain from commercial aviation recovery and defense-related orders. Airbus benefits from a strong backlog and ongoing fleet modernization trends. Analysts tracking capital goods and industrials often pair it with defense themes, viewing it as a play on both civilian travel rebound and European industrial resilience.

7. Siemens Energy AG (Germany)

As Europe accelerates its renewable energy push, Siemens Energy — including its wind turbine business via Siemens Gamesa — is well-positioned for growth in onshore and offshore projects. EU subsidies and policy support for clean power generation underpin long-term demand, with analysts seeing the company as a core holding in the energy transition narrative.

8. ABB Ltd (Switzerland)

The industrial automation and electrification specialist frequently tops capital goods lists from firms like Kepler Cheuvreux. ABB’s focus on efficiency-enhancing technologies aligns with Industry 4.0 trends and energy optimization needs. Upgrades in early 2026 reflect confidence in its diversified portfolio across robotics, electrification and motion segments.

9. Hermes International SCA (France)

Another luxury standout, Hermes offers exposure to ultra-high-end demand with strong brand resilience. Its consistent performance and pricing power have made it a favorite among selective luxury investors seeking quality over volume-driven peers. Analysts note its appeal in portfolios targeting premium consumer segments less sensitive to short-term economic fluctuations.

10. Iberdrola SA (Spain)

The Spanish utility giant leads in renewables investment, particularly wind and solar. With expanding EU support for clean energy and rising electricity demand from data centers and electrification, Iberdrola is viewed as a defensive growth play. Dividend-oriented investors often highlight its stable cash flows alongside expansion potential.

Broader Market Context and Risks

European equities entered 2026 with optimism fueled by expectations of modest economic growth, German fiscal measures and corporate earnings recovery in cyclicals such as banks and autos. Goldman Sachs strategists described the backdrop as promising, though they cautioned on mid-year volatility risks tied to geopolitics and energy markets.

The STOXX 600 has shown resilience but faced pressure from Middle East developments, with defense names often bucking broader declines. Sectors like technology, healthcare and industrials have seen rotation, while luxury and travel stocks remain sensitive to consumer sentiment.

Analysts emphasize diversification. While names like ASML and Novo Nordisk carry growth premiums, value opportunities appear in banks, energy and select industrials. Many European stocks trade at lower multiples than U.S. counterparts, offering a potential valuation cushion.

Risks include prolonged oil price spikes from geopolitical tensions, delayed rate cuts by the European Central Bank, and uneven recovery across member states. Trade policies and China demand also weigh on export-heavy firms.

Investor Considerations for 2026

Portfolio managers recommend balancing growth-oriented tech and healthcare exposure with defensive or cyclical plays in defense, renewables and luxury. Currency movements, particularly the euro-dollar rate, can influence returns for U.S.-based investors.

Longer-term themes — artificial intelligence infrastructure, European rearmament, obesity treatments and the energy transition — are expected to drive outperformance for well-positioned companies. However, selectivity remains key amid headline-driven volatility.

As trading continues, investors will monitor upcoming corporate earnings, economic data releases and any shifts in Middle East diplomacy for clues on risk appetite. Many strategists maintain a constructive stance on European equities overall, viewing 2026 as a year where disciplined stock picking could reward patience.

European markets, home to global leaders in luxury, pharmaceuticals, semiconductors and industrials, continue to offer diversified exposure distinct from U.S.-dominated indices. For those seeking international allocation, the 10 names above represent a cross-section of frequently discussed opportunities grounded in current analyst consensus and structural drivers.

Australian families welcoming a new child from July 1, 2026, will gain access to 26 weeks of government-funded Paid Parental Leave, an increase from the current 24 weeks, as the Albanese government completes a phased expansion aimed at boosting early childhood bonding, workforce participation and gender equality in caregiving.

The reform, announced in previous years and now nearing full implementation, will provide eligible parents with 130 days of Parental Leave Pay — equivalent to 26 weeks based on a standard five-day work week. This marks the final step in a multi-year rollout that has incrementally added two weeks annually, rising from 20 weeks in 2023-24 to 22 weeks in 2024, 24 weeks in 2025 and the full 26 weeks in 2026.

Payments will continue at the national minimum wage rate, currently $948.10 per week or $189.62 per day before tax for the 2025-26 financial year. The rate typically adjusts each July. For a full 26-week entitlement, the total payment could approach approximately $24,650 before tax, though actual amounts depend on how families structure their leave.

Services Australia has confirmed that families claiming before July will initially receive a 120-day balance. Once proof of a child born or adopted on or after July 1, 2026, is provided, an extra 10 days will be added automatically.

Key Changes Encouraging Shared Care

A significant feature of the 2026 update is the increase in reserved days for the secondary parent or partner. From July 1, 2026, 20 days — or four weeks — of the total entitlement will be reserved exclusively for the non-primary carer on a “use it or lose it” basis. This builds on prior adjustments that raised concurrent leave and reserved periods to promote greater involvement from fathers and partners.

Single parents will remain eligible for the full 26 weeks. Families can take the leave flexibly — as a continuous block, in smaller segments or even single days — as long as it is used before the child’s second birthday. Up to four weeks (or more in some configurations) may be taken concurrently by both parents.

From July 2025 onward, the government also pays 12% superannuation contributions on Parental Leave Pay, with the Australian Taxation Office handling direct payments to super funds starting in July 2026. This addition helps protect long-term retirement savings for parents taking time away from paid work.

Eligibility Criteria Remain Focused on Recent Work History

To qualify for Parental Leave Pay, individuals must be the primary carer of a newborn or newly adopted child and meet both a work test and an income test. The work test generally requires at least 330 hours of work — roughly one day per week — in the 10 months out of the 13 months before the child’s birth or placement.

The individual adjusted taxable income must be $180,007 or less in the 2024-25 financial year (with previous years having slightly lower thresholds). There is no family income test for the primary claimant in most cases.

Employers may provide additional paid parental leave on top of the government scheme through enterprise agreements or company policies. Recent data shows a growing number of organizations, particularly larger employers, offering gender-neutral or enhanced packages to attract and retain talent.

Government Aims to Close Gender Gap and Support Families

Ministers have described the expansion as a “bundle of joy” for working families, providing greater choice and security during a critical life stage. The reforms are expected to benefit around 180,000 families annually and are designed to encourage more balanced caregiving responsibilities, potentially narrowing the gender pay gap and improving workforce re-entry for mothers.

Advocates welcome the changes but note that Australia’s total paid leave entitlement of 26 weeks remains below the OECD average when combining maternity, parental and home-care leave across member countries. Some experts describe the post-2026 landscape as an “abyss,” calling for a clearer long-term roadmap beyond the current plateau.

Business groups and human resources leaders are preparing for payroll and workforce planning impacts. While the government funds the core payments, employers must manage rostering, superannuation reporting and potential top-up arrangements. Many are reviewing policies to align with the new flexibility while maintaining operational needs.

How the Scheme Works in Practice

Parents can claim through Services Australia, with payments made either directly by Centrelink or, in some cases, via the employer. The leave is available for both birth and adoption.

The scheme replaced earlier separate maternity and “Dad and Partner Pay” components with a more unified, flexible Parental Leave Pay system. Families have praised the ability to spread leave over two years in smaller blocks, allowing gradual return-to-work transitions or alignment with childcare availability.

For those planning families in 2026, experts recommend checking eligibility early and considering how to maximize the reserved days for partners. Pre-birth claims are possible, but final balances will adjust based on the actual birth or adoption date.

Broader Context and Employer Trends

The expansion occurs against a backdrop of ongoing cost-of-living pressures and efforts to support workforce participation. With many employers already supplementing government payments, the proportion offering additional paid parental leave has risen, with some extending to 12 months or more at full or partial pay.

Workplace Gender Equality Agency data indicates continued growth in gender-neutral policies, reflecting cultural shifts toward shared parenting.

Critics argue the minimum-wage rate may still create financial strain for higher-income households, while supporters highlight its universal accessibility and role in reducing child poverty risks during early infancy.

As the July 1 deadline approaches, Services Australia has urged families to review their circumstances and prepare documentation. Detailed guides and claim portals are available on the agency’s website.

The changes represent one of the most substantial updates to Australia’s family support system in over a decade, building on the original 2011 introduction of paid parental leave. With the full 26 weeks now in sight, policymakers, employers and families alike will assess its real-world impact on birth rates, gender equity and economic participation in the years ahead.

For the latest details or to check personal eligibility, Australians are encouraged to visit Services Australia or consult Fair Work Ombudsman resources. The scheme continues to evolve as a key pillar of national family policy.

Based on a potential offering size of up to $4 billion for Jio Platforms Ltd., the total fee pool may be as high as $26 million, with the bulk likely to be shared among lead banks such as Kotak Mahindra Capital Co. and Morgan Stanley, the people said, asking not to be identified because the information is private.

The fee distribution may ultimately depend on the client coverage from the banks and the company’s own discretion, two of the people said.

A representative for Reliance didn’t immediately respond to requests for comment.

Jio’s IPO could be India’s largest-ever listing and the first by a major unit of billionaire Mukesh Ambani’s flagship company, Reliance, in almost two decades.

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Jio’s banking fees are poised to be broadly in line with those set by NSE, which is considering an IPO that may raise about $2.5 billion, people familiar with the matter have said.
The proposed fee structure by both Jio and NSE is notably lower than broader market averages. Indian companies paid investment banks an average of about 1.86% across 417 IPOs last year and 1.67% across 350 issuances in 2024, according to data compiled by LSEG.Reliance is aiming to file draft paperwork for Jio as early as the end of this month, people familiar with the matter have said. Other banks selected for advisory roles on the listing include HSBC Holdings Plc, JPMorgan Chase & Co., Goldman Sachs Group Inc., JM Financial Ltd., Axis Bank Ltd. and SBI Capital Markets Ltd.

Sony Interactive Entertainment will increase prices for its PlayStation 5 consoles and related hardware by $100 to $150 starting April 2, 2026, marking the second major price hike for the console in less than a year as the company points to “continued pressures in the global economic landscape.”

The adjustments affect the standard PS5, PS5 Digital Edition, the more powerful PS5 Pro and the PlayStation Portal remote player. In the United States, the standard PS5 with disc drive will rise from $549.99 to $649.99, a $100 increase. The Digital Edition will jump from $499.99 to $599.99, also up $100. The premium PS5 Pro will see the steepest rise, climbing $150 from $749.99 to $899.99. The PlayStation Portal will increase by $50 to $249.99.

Similar proportional increases will apply globally, with regional pricing adjustments in markets including Europe, the United Kingdom, Australia and other territories. Sony described the move as “a necessary step to ensure we can continue delivering innovative, high-quality gaming experiences to players worldwide,” while acknowledging the impact on its community.

Isabelle Tomatis, vice president of global marketing at Sony Interactive Entertainment, said in a statement posted to the PlayStation Blog that the company made the decision after careful evaluation amid ongoing economic challenges. The announcement comes as the gaming industry grapples with rising component costs, supply chain disruptions and broader macroeconomic uncertainty.

Rising Memory Costs and Component Pressures Drive Hike

Industry analysts link the price increases largely to a sharp surge in memory prices, particularly high-bandwidth memory (HBM) and other RAM used in modern consoles. Demand from artificial intelligence data centers has diverted significant supply, tightening availability and pushing costs higher for consumer electronics manufacturers.

Sony’s latest adjustment follows a previous $50 increase implemented in August 2025. Combined, the two hikes mean the standard PS5 disc edition now costs $150 more than its price before the August 2025 change and significantly above its original 2020 launch price of $499.99 for the disc version. The PS5 Pro, launched more recently at a premium, now approaches the $900 mark in the U.S.

Broader factors cited in industry commentary include U.S. tariffs under the current administration, ongoing geopolitical tensions such as the U.S.-Iran conflict and lingering effects from global supply chain issues. These elements have compounded costs for semiconductors, logistics and raw materials across the technology sector.

Sony is the first major console maker to announce hardware price increases in 2026. Microsoft has not yet signaled similar moves for its Xbox lineup, though analysts note that sustained component inflation could pressure the entire industry.

Impact on Gamers and Market Timing

The timing of the April 2 increase gives consumers a narrow window to purchase at current prices. Retailers are expected to see a rush in the coming days as enthusiasts and gift buyers move quickly to avoid the higher costs. Bundles and promotions may temporarily soften the blow, but base hardware prices will rise across the board.

For many gamers, the increases come at a sensitive moment. The PS5 has enjoyed strong sales momentum in recent years, with the PS5 Pro delivering enhanced graphics and performance that appealed to enthusiasts. However, higher entry costs could dampen impulse buys and affect accessibility, particularly for younger players or budget-conscious households.

The PlayStation Portal, a handheld device for streaming games from a PS5 console, will also become more expensive. Some analysts suggest the hikes reflect Sony’s strategy to protect margins as it invests in next-generation hardware development and expands its services business, including PlayStation Plus.

Sony’s Statement and Long-Term Strategy

In its blog post, Sony emphasized commitment to innovation despite the price changes. The company highlighted continued investment in exclusive games, hardware improvements and features such as advanced ray tracing, faster load times and enhanced backward compatibility on the PS5 Pro.

Executives have previously described difficult economic conditions as forcing tough decisions to sustain long-term quality. The latest hike aligns with this narrative, though it risks backlash from a loyal but increasingly price-sensitive player base.

The announcement arrives amid a busy period for the gaming calendar. Major titles expected in 2026, including potential releases tied to high-profile franchises, could help maintain demand. Observers note that strong software sales and services revenue often offset hardware margin pressures over time.

Reactions from Analysts and the Gaming Community

Wall Street analysts offered mixed initial reactions. Some viewed the move as prudent cost management in an inflationary environment, while others worried it could slow console adoption or push more players toward digital alternatives and subscription models.

Gaming communities on social media and forums expressed disappointment, with many noting the cumulative effect of repeated increases. “The PS5 launched feeling like a premium but reasonable investment. Now it’s approaching luxury territory,” one commentator observed.

Retail partners are preparing for the shift. Major chains and online platforms are likely to feature pre-hike promotions, but availability could tighten as stock moves quickly.

Broader Context in Consumer Electronics

The PS5 price hikes reflect wider trends across consumer technology. Smartphones, laptops and other devices have faced similar cost pressures from memory shortages and trade policies. AI-driven demand for advanced chips has created ripple effects felt far beyond data centers.

For Sony, the PlayStation division remains a key profit driver alongside its music, film and semiconductor businesses. Maintaining healthy margins on hardware supports investment in future platforms, potentially including a PlayStation 6 successor later this decade.

As the April 2 deadline approaches, gamers are advised to compare current retailer offers and consider whether to buy now or wait for potential post-hike bundles and discounts. Those planning purchases should also factor in accessories, games and any regional tax variations.

Sony has not indicated further immediate increases, but analysts caution that sustained economic pressures could lead to additional adjustments. In the meantime, the company continues to promote its ecosystem through software updates, new titles and expanded cloud gaming features.

The PlayStation 5, launched in November 2020, has become one of the best-selling consoles of its generation despite periodic supply challenges and now repeated price adjustments. Its ability to balance innovation with accessibility will face a fresh test as prices climb higher in 2026.

Consumers seeking the latest details should check the official PlayStation Blog or authorized retailers for region-specific pricing and availability. With the changes taking effect early next week, the coming days represent the final opportunity for many to secure a PS5 at pre-increase rates.

Council leaders from Sheffield and Rotherham joined South Yorkshire mayor Oliver Coppard to launch the plan for Don Valley

Plans for a new mayoral development zone in the Don Valley have been unveiled, promising a £1.3bn boost to the region’s and UK economy, 18,500 new jobs and more than 10,500 new homes.

The development zone has been welcomed by South Yorkshire mayor Oliver Coppard, Sheffield City Council leader Tom Hunt and his Rotherham counterpart Chris Read. It will stretch from the heart of Sheffield through Attercliffe, Tinsley and Templeborough into Rotherham Gateway, the town centre and Bassingthorpe.

The Don Valley Corridor aims to bring together new employment, housing, infrastructure, skills and community regeneration into one 30‑year plan. The plan aims to build on the success of the advanced manufacturing park in the area.

Mr Coppard said: “For as long as I can remember, Britain has doubled down on a growth model that meant the South East took both the benefits and the burdens of growth. If the whole country is to thrive, and every place is to stand on its own two feet, playing a full part in UK PLC, places like South Yorkshire will need to unlock their own, full potential.

“Our plans for the Don Valley Corridor offer a new path, for the UK, the North and South Yorkshire, one that allows the expertise, innovation and energy that has always been here, to restore the pride, purpose and prosperity of our communities.”

Cllr Hunt said: “The Don Valley Corridor linking Sheffield and Rotherham is a nationally significant opportunity for regeneration and growth. We can unlock 10,500 new homes in new neighbourhoods, and nearly 20,000 new jobs in fast-growing industries, all connected by the right infrastructure. “Cutting edge centres of innovation like the AMRC and Sheffield Olympic Legacy Park show what happens when you bring together world-leading research and industry and we will build on their success. From clean energy, to advanced manufacturing, healthcare and defence, what happens in Sheffield and Rotherham is at the centre of the UK’s industrial future.

“This is a plan to give the Don Valley a prosperous future that provides new homes, new jobs, new infrastructure and new opportunities for our residents and businesses.”

Cllr Read added: “The Don Valley Corridor has the potential to be one of the most important growth areas anywhere in the country, and an exemplar for the North. For Rotherham, this really is about forging ahead with the next chapter of our borough’s growth, building on the lessons of the AMP as we build on the strengths of our heritage and the opportunities of new industries, infrastructure and investment. You only have to look at our plans for Rotherham Gateway to see the scale of that ambition – a new mainline station, new employment space, and the chance to bring thousands of good‑quality jobs right onto our doorstep.”

The plan aims to deliver over 18,500 new jobs through co‑ordinated employment and innovation development, as well as supporting the Sheffield Innovation Spine. There will also be a Green Employment Hub.

Chancellor Rachel Reeves praised the plan, saying that “investing in our regions outside of London and the South East will be pivotal to unleashing their potential and turbocharging growth.”