Ensilitech has been working with scientists in Texas on the project – and is now looking for more funding

A group of Bristol scientists who are developing a vaccine to treat a type of hantavirus say they are “hugely excited” after a breakthrough in their work. Ensilitech, a University of Bath spin-out now based at Science Creates in St Philips, says its new antigen against hantaan has been tested in labs and already works well on animals.

Hanantaviruses are a group of viruses carried by rodents, such as rats or mice, and transmitted through droppings and saliva. The viruses can be found in some areas of Europe, Africa, Asia and South America, and there is currently no specific treatment or cure.

The hantaan strain, which Ensilitech is developing a vaccine for, can cause haemorrhagic fever, with symptoms including headache, gastrointestinal problems and renal dysfunction.

The company has been working with a team of researchers at the University of Texas Medical Branch on the project, alongside Cape Town-based biotech business Afrigen.

“We wanted to work on a disease that is neglected,” said Dr Asel Sartbaeva, co-founder of Ensilitech. “It is a completely new vaccine. It has been tested in labs and it works well on animals.”

The project has so far been funded by the government’s Small Business Research Initiative and Ensilitech is now hoping to secure a continuation grant as it moves towards pre-clinical development and then human trials.

“Hantaviruses have been around for a long time. Around 200,000 people a year get infected with hantaan and it has horrendous outcomes.

“We are living in a more and more globalised world where people travel to a lot to places where these diseases are endemic, so there is a case for a travel vaccine,” said Dr Sartbaeva.

“It is super important to continue this work. We are excited that we have created an antigen already which really can be scaled up and put forward as a potential vaccine, but without the funding we won’t be able to continue this work.”

According to Dr Sartbaeva, if funding is secured and development continues, the vaccine could be ready for use in about three to four years.

The news comes as 10 people from the UK Overseas Territories of Saint Helena and Ascension Island who were aboard the hantavirus-hit cruise ship MV Hondius – or had contact with passengers – are being brought to Britain for self-isolation as a “precautionary measure”.

The UK Health Security Agency (UKHSA) is currently monitoring and providing public health advice about the outbreak, following the death of three people who died on board.

The head of the World Health Organisation (WHO), Dr Tedros Adhanom Ghebreyesus, has also warned health officials to expect to see hantavirus infection rates climb, but said this week there was “no sign” of the start of a larger outbreak.

“Of course, the situation could change,” he said. “And given the long incubation period of the virus, it’s possible we might see more cases in the coming weeks.”

He added: “All suspected and confirmed cases have been isolated and managed under strict medical supervision, minimizing any risk of further transmission.”

WHO’s assessment continues to be that the risk to health globally is low.

“The message is clear: preventing diseases is a lot cheaper than treating them,” added Dr Sartbaeva. “If we get more funding for development, the return on investment will be amazing. It’s a no brainer economically speaking.”

Ensilitech, which was co-founded by Dr Sartbaeva and Dr Aswin Doekhie in 2022, has already developed novel tech to allow vaccines and other biological materials to be transported and stored without the use of fridges.

According to its founders, the special platform protects biopharmaceuticals from heat damage by encasing them in a tailored silica shell. Last year, the technology was recognised at a national awards for helping to sustainably improve access to life-saving treatments worldwide, particularly in regions where refrigeration is unreliable.

Shares of Steel Authority of India (SAIL) surged nearly 14% on Wednesday in a sharp rally that market experts attributed largely to a short squeeze triggered by extremely crowded bearish positioning in the derivatives segment.

The stock witnessed unusually high activity during the session as traders rushed to cover short positions amid rising prices and mounting margin pressure.

According to Apurva Sheth, Head of Market Perspectives and Research at Samco Securities, the counter had already been under close watch because it was nearing its market-wide position limit (MWPL), a key derivatives market indicator that tracks total exposure allowed in a stock.

“SAIL counter was in limelight today as it was on the verge of hitting its MWPL,” Sheth said.

MWPL, or Market Wide Position Limit, refers to the maximum derivatives exposure permitted in a stock across all market participants. The mechanism is designed to cap excessive speculation and concentration risk in individual counters.

Sheth said a sharp rise in MWPL usage often indicates heavily crowded positioning in futures and options contracts. In SAIL’s case, derivative exposure had become unusually concentrated among a handful of traders.
“The chart shows 14 clients holding 99.51% of the total derivative positions, with one client contributing close to 10% of the total limit individually,” he said, adding that this pointed to “an overly concentrated trade by a few individuals which might be operating in tandem with each other.”Such concentrated bearish trades can become highly vulnerable when stock prices begin moving in the opposite direction.

According to Sheth, that is precisely what unfolded during Tuesday’s trading session.

The stock’s sharp upward move likely triggered stop losses for short sellers, forcing them to buy back shares and futures contracts to limit losses. That additional buying pressure further accelerated the rally.

“In leveraged markets, positioning itself can become fuel for price action,” Sheth said.

Analysts explained that the rally followed the classic mechanics of a short squeeze. Traders initially build aggressive short futures positions expecting prices to decline. As more participants crowd into the same bearish trade, MWPL utilisation rises sharply. When the stock unexpectedly moves higher, leveraged traders face margin calls and risk-management triggers, forcing rapid short covering.

That forced buying creates a feedback loop that pushes prices even higher in a short span of time.

“The key takeaway is not just that SAIL rallied sharply, but that the rally was intensified because too many traders were positioned on the bearish side at the same time,” Sheth added.

Also read: Crorepati investors splurge $1 billion to buy these 10 stocks. Should you follow the smart money?

The sharp move in SAIL also highlights broader concerns around concentrated positioning in the derivatives market, especially in highly liquid PSU and commodity-linked stocks, where speculative participation tends to increase rapidly during volatile phases.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Legislation will cover areas from late payments and competition to Northern Powerhouse Rail

Embattled Prime Minister Sir Keir Starmer has used the King’s Speech to promise a package of measures to set a “new direction for Britain”.

The Prime Minister said the legislation in the King’s Speech would make the country “stronger and fairer” and help deliver the “change we promised” in Labour’s 2024 general election landslide.

In his speech in the House of Lords, the King said the Government would “defend the British values of decency, tolerance and respect for difference under our common flag”. Charles said the Government would “harness the potential of the pride felt across the country for its communities” and “take urgent action to tackle antisemitism”.

In his introduction to the package of legislation set out by the King in the traditional State Opening of Parliament ceremony, Sir Keir said the country was “at a pivotal moment” as it dealt with the fallout from wars in Iran and Ukraine.

But he said: “The fundamentals of our economy remain sound and this will help us emerge from the Iran conflict stronger and fairer.”

The war in the Middle East required “greater urgency” in the reforms the Government has promised, Sir Keir said. he added: “We will strengthen our economic security, energy security, our defence and national security.”

The new pieces of legislation set out in the King’s Speech:

– Steel Industry (Nationalisation) Bill: Will give the Government powers to nationalise British Steel.

– High Speed Rail (Crewe – Manchester) Bill: The plan for Northern Powerhouse Rail is intended to deliver faster, more frequent services between cities in northern England. The Bill will outline a “foundational” element for the scheme from Manchester to Millington in Cheshire, via Manchester Airport.

– European Partnership Bill: The legislation will provide a framework to adopt EU rules where the Government strikes deals with Brussels.

– Small Business Protections (Late Payments) Bill: The law is intended to protect small and medium-sized enterprises (SMEs) with powers including maximum payment terms of 60 days, and mandatory interest rates 8% above the Bank of England base rate for late payments.

– Clean Water Bill: Creates a new regulator for the industry and a new water ombudsman to provide stronger consumer protections.

– Competition Reform Bill: Will make the Competition and Markets Authority’s investigations faster and more predictable and reduce burdens on businesses.

– Regulating for Growth Bill: Includes measures aimed at tackling a system the Government views as complex, risk-averse and poorly suited to modern technologies and business models.

– Enhancing Financial Services Bill: Will modernise how lenders are regulated and update consumer protection arrangements.

– Highways (Financing) Bill: Will introduce a new funding model to get greater levels of private capital investment into road schemes.

– Overnight Visitor Levy Bill: Will allow mayors and potentially other leaders of large authorities in England to introduce a tourist tax in their areas.

– Social Housing Renewal Bill: Will prioritise the building of new social rented homes and tighten eligibility for the Right to Buy to protect existing social housing stock.

– Commonhold and Leasehold Reform Bill: Marks the beginning of the end for what Sir Keir Starmer called the “unfair feudal system” of leasehold properties. It will ban the use of leasehold for new flats, cap ground rents at £250 a year and implement a new process for converting to commonhold.

– Education for All Bill: Will reform the system in England for children with special educational needs or disabilities (SEND).

– Representation of the People Bill: Will lower the voting age to 16 in all UK elections, along with other reforms.

– Remediation Bill: Boosts powers for regulators and closes loopholes to accelerate the removal of unsafe cladding from buildings.

– Draft Conversion Practices Bill: Will protect people from “harmful and abusive” attempts to change their sexual orientation or transgender identity.

– Draft Ticket Tout Bill: Will make it illegal to resell a ticket at more than its original cost, cap the service fees charged by resale platforms and allow regulators to impose fines of up to 10% of global turnover on firms breaking the new laws.

– Sporting Events Bill: Will put in place measures to support the delivery of the Euro 2028 football tournament and position the UK as an attractive bidder for other events such as the Women’s World Cup in 2035.

– Police Reform Bill: Scraps police and crime commissioners and includes other reforms including a new legal framework for the use of facial recognition technology.

– NHS Modernisation Bill: Abolishes NHS England and puts in place reforms including a new single patient record that people can view on their NHS app.

– Railways and Passenger Benefits Bill: Establishes Great British Railways, the new state-owned company in charge of both track and trains, and creates a new passenger watchdog.

– Digital Access to Services Bill: Creates a new voluntary digital ID system for use across public services and the wider economy.

– Public Office (Accountability) Bill: The long-running wrangle over the Hillsborough Law’s application to the security services prevented the legislation being passed before the end of the last parliamentary session.

– Removal of Peerages Bill: Creates a mechanism to strip titles from disgraced peers without the need for a new law to be passed in each individual case. The Prime Minister promised the legislation in the wake of the Lord Peter Mandelson scandal.

– Courts Modernisation Bill: Includes the Government’s controversial plan to restrict trial by jury to the most serious cases.

– Northern Ireland Troubles Bill: Another piece of legislation that has been carried over from the previous session, it is an attempt to deal with the complicated and controversial legacy of the Troubles.

– Draft Taxi and Private Hire Vehicle Bill: Modernises Victorian-era rules and addresses licensing vulnerabilities which have been exploited by grooming gangs.

– Civil Aviation Bill: Will strengthen consumer rights and protections for passengers and change the regulation of airport slots to support the expansion of airports.

– Sovereign Grant Bill: Will enable the amount of money paid to support the King’s official duties to fall once work to update the plumbing and wiring of Buckingham Palace is completed.

– Energy Independence Bill: Legislates for a series of reforms to upgrade homes, speed up the construction of infrastructure and the deployment of renewable power.

– Nuclear Regulation Bill: Modernises the way nuclear projects are regulated to support the quicker delivery of new power stations.

– Electricity Generator Levy Bill: Will break the link between electricity and gas prices and increase the windfall tax from 45% to 55% to drive low-carbon generators currently benefiting from high market prices set by gas onto fixed-price contracts.

– Tackling State Threats Bill: Will allow the Government to ban foreign state-backed organisations engaged in espionage, sabotage and interference in the UK, like Iran’s revolutionary guard.

– Armed Forces Bill: Will ensure the UK continues to have an army, a commitment which must be renewed for constitutional reasons every five years. It will also enshrine the Armed Forces Covenant in law.

– National Security Bill: Will criminalise a range of harmful online content, and criminalise planning mass attacks, to clamp down on extremist threats to the country.

– Immigration and Asylum Bill: Will take steps to clamp down on small boat crossings, and tighten up the asylum appeals system.

– Cyber Security and Resilience Bill: Will aim to bolster online protections for businesses and services across the country, to make sure they are protected from cyber attacks.

‘New vehicle market conditions were heavily influenced by the Government’s ZEV mandate, which continued to distort manufacturer behaviour’

Bosses at motor retailer Vertu have marked a solid year of trading in a challenging year for the sector – but urged the Government to accelerate its review of electric vehicle sales targets. The Gateshead based dealership, which has a network of 191 sales and aftersales outlets across the UK, published full year results for the year ended February 28 2026, highlighting good results amidst a number of challenges.

Revenues reached £4.83bn, up 1.5% from £4.76bn, while adjusted pre-tax profit was £24.5m, down 16.4% from £29.3m but ahead of market expectations despite weak new vehicle markets. Net debt stood at £61.3m, down from £66.6m. Adjusted operating profit was £46.5m, down 11.3% from £52.4m

It said the group’s resilient aftersales operations delivered record performance – now generating over 46% of group gross profit. The group also saw a £2.9m uplift in core group gross profit in March and April, compared to the prior year.

As we reported earlier this month, it also booked £3.4m of insurance proceeds – recognised as other income – offsetting losses from the JLR cyber-attack of £3.9m. The AIM-listed group said the impact of the Middle East conflict on fuel price volatility, consumer confidence, and vehicle demand is being monitored but that no material adverse consumer trends are visible as yet.

As expected, however, it said that Battery Electric Vehicles (BEV) and hybrid vehicles are seeing higher interest from customers, and warned that a prolonged conflict could drive up inflation. Last month the group launched Value Cars by Vertu, an initiative to increase market share in the seven-to-14-year-old used car market, and initial indications are that this will add incremental profits.

Looking ahead, it said a programme to boost its portfolio with new Chinese entrant brands is set to continue, with Jaecoo, Omoda, Lepas, Chery and Leapmotor to be added to its portfolio, joining its five BYD dealerships.

CEO Robert Forrester said: “The group has delivered solid results against the backdrop of sector pressures from the Government’s ZEV mandate on new car profitability, as we have focused on controlling the controllables, such as aftersales and cost. The group is benefiting from stable management, a highly trained and committed workforce, strong cashflows funding a maintained dividend, another £12m share buyback and significant asset backing.

“The group is therefore excellently positioned to take advantage of the inevitable opportunities that will arise as the sector continues to consolidate. I am delighted that the trading performance in March and April has been strong and ahead of the prior year period, which is a testament to the quality and hard work of the excellent Vertu team, whom I would like to thank.”

Meanwhile, Vertu highlighted how the Zero Emission Vehicle (ZEV) mandate scheme is hitting its profits and “distorting” its volumes and margins. The scheme was introduced by the Government to force motor manufacturers to sell more electric vehicles each year or face steep fines, as part of its plans to move all new car sales to EVs by 2035.

Chairman Andy Goss said: “New vehicle market conditions were heavily influenced by the Government’s ZEV mandate, which continued to distort manufacturer behaviour, suppress retail margins and shift volume into lower‑return channels. Consumer and business confidence also remained subdued generally.”

At present, the planned consultation on the ZEV scheme is not set to be published until next year.

But Vertu said: “The ZEV mandate is distorting volumes, margins and channel mix for new car and commercial vehicles, alongside elevated discounting and potential non‑BEV supply constraints. The ratcheting of targets creates more intense pressure and the Group has asked the Government to urgently bring forward its review of the ZEV mandate from 2027 to 2026.”

Mr Forrester added: “The UK retains one of the most ambitious BEV transition trajectories among major automotive markets, with manufacturers of cars required to achieve a 28% BEV mix in 2025 and 33% in 2026, facing fines of £12,000 per vehicle for non-compliance. Future targets ratchet up significantly to an 80% mix in 2030. BEVs accounted for only 23.4% of car registrations in 2025, achieved largely through financially unsustainable manufacturer discounting.

“The SMMT estimates discounting of BEV vehicles exceeded £5bn in 2025 (at least £11,000 per BEV), distorting both new and used car markets and creating sustained margin pressure across the sector. By the end of April 2026, BEV share stood at 23.1% calendar year to date, leaving uptake short of the 33% share required.”

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The properties are expected to be ready next spring

A Cornish housebuilder is planning build 50 affordable homes at two developments in the county. Legacy Properties has partnered with housing provider Ocean Housing to deliver the properties at Goonhavern near Newquay and Trispen near Truro.

The Goonhavern scheme – known as The Grange – is the second and final phase of Legacy’s development. Legacy will deliver 23 affordable homes as part of the 40-home scheme.

The homes will include a mix of one-bedroom apartments and two-to-four-bedroom houses, alongside two wheelchair-accessible bungalows, available for affordable rent. The first affordable homes are expected to be handed over to Ocean Housing in the spring of next year.

The company’s other development – The Paddocks in Trispen – will have 27 affordable homes within the wider 80-home scheme. These will include a mix of one-to-four-bedroom houses, bungalows and apartments, available for social rent and shared ownership. The first affordable homes at Trispen are also expected next spring.

Nick Long, managing director at Legacy Properties, said: “Delivering affordable homes is a fundamental part of creating balanced, sustainable communities.

“Partnering with Ocean Housing at both Goonhavern and Trispen ensures these homes will be genuinely affordable and managed by an organisation with strong local knowledge and a long-term commitment to Cornwall. We’re proud to be working together to support local people through these developments.”

Jitinder Takhar, chief executive of Ocean Housing said the affordable properties would provide “much-needed permanent homes” for local people and would allow them to stay close to the community.

“Over the last few years Cornwall has seen a significant rise in the numbers of individuals and families needing affordable housing,” she said.

“High demand and limited housing choices has seen many more individuals and families with children faced with the possibility of being homeless or living in temporary accommodation. That’s why we’re really pleased to be partnering with Legacy Properties to bring affordable homes to Goonhavern and Trispen.”

It is understood developments will be built to modern energy-efficiency standards and designed to integrate sensitively with their village settings, alongside new green space and local infrastructure.

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