The Cardiff-based firm has made its third acquisition in a year.

Cardiff-based Plug Charging has acquired electric vehicle infrastructure specialist Energy Park.

The acquisition marks Plug Charging’s third in the last year, following the integration of charging assets from Wattif and Pilot Group. The transactions forms part of the company’s wider buy-and-build strategy, positioning Plug Charging as one of the UK’s fastest-growing independent charge point operators, as it continues to look at further acquisitions

The Energy Park deal, the value of which has not been disclosed, significantly strengthens Plug Charging’s presence in North Wales, a region where electric vehicle adoption continues to accelerate.

The acquisition also expands the company’s reach into key locations across England, supporting its ambition to deliver reliable charging infrastructure in areas underserved by larger national operators. The UK electric vehicle (EV) charging market is entering a period of consolidation as operators face increasing pressure to achieve scale, maximise asset utilisation and deliver consistent service levels.

Plug Charging said it is actively capitalising on this opportunity, combining strategic acquisitions with organic deployment to build a UK-wide charging network. Alongside its growing commercial charging network, Plug Charging continues to deliver charging infrastructure projects through a number of national and regional procurement frameworks.

Jarrad Morris, founder and chief executive of Plug Charging, said: “This acquisition is about scale. The charging market remains fragmented, with many high-quality assets sitting within smaller networks. Our strategy is to bring those assets together under a single operating platform, improve performance and customer experience, and build a national network with the scale needed to succeed long term.

“Energy Park has developed an excellent portfolio of sites in strategically important locations and we’re excited to bring them into the Plug Charging network. This is our third acquisition in 12 months, and we continue to see significant opportunities across the market.

“North Wales is a particularly important market for us. EV adoption continues to grow rapidly, but charging infrastructure has not always kept pace. This acquisition strengthens our position in the region and supports our wider mission of delivering high-quality charging where it is needed most.”

A surfboard stolen from a California teenager nearly seven decades ago helped launch what has become one of the world’s most recognizable handcrafted surfboard brands.

FOX Business correspondent Kelly Saberi joined FOX Business’ Stuart Varney on “Varney & Co.” to highlight Harbour Surf Shop in Seal Beach, California, home to the world’s oldest surfboard manufacturing shop operating continuously from the same location. 

Founded after Rich Harbour decided to build his own board when his original was stolen, the shop continues to operate from the same location, preserving many of the original tools and shaping templates that helped establish its reputation.

Surfers lined up with their surfboards in San Diego, California. (Getty Images)

Current owner Robert Howson said the company’s focus has never been chasing professional surfing trends, but instead understanding everyday surfers.

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

“I think the level of appreciation for handcrafted products is improving globally… We are not one that follows necessarily professional surfing as a barometer to the success of surfing. We take a look at the people that are at the beach. What are they enjoying?” Howson said.

That philosophy has helped keep the brand relevant across generations. Each surfboard is still crafted in the original shaping room, and the company produces only about 400 boards each year, emphasizing quality over volume.

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

Harbour Surfboards has also earned a place in pop culture. The company’s iconic triangle logo appeared in the 1959 film, “Gidget,” and later in a 1965 television series starring Sally Field, introducing the brand to audiences well beyond Southern California.

Nearly 70 years after one missing surfboard changed Rich Harbour’s path, the shop remains a symbol of American craftsmanship, proving that a small business built on quality and tradition can leave a lasting legacy.

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China has initiated a rigorous campaign to combat illegal cross-border trading in an effort to curb capital outflows. The initiative aims to crack down on illicit financial flows that threaten economic stability, with authorities emphasizing stern measures. This unprecedented move signals China’s determination to strengthen capital controls and prevent capital flight, potentially impacting international trade and financial activities.

China has recently intensified efforts to crack down on illegal cross-border trading, aiming to protect its economic stability and uphold trade regulations. The authorities have increased inspections at ports and borders, targeting illegal shipments and underground trading networks that undermine legitimate commerce. These measures are part of a broader initiative to promote fair trade practices and safeguard consumers from counterfeit goods.

The crackdown also targets cyber-enabled cross-border transactions, which have surged with the rise of digital platforms. Authorities are monitoring online marketplaces and financial channels to detect illicit activities such as smuggling, money laundering, and the sale of prohibited items. This comprehensive approach seeks to dismantle illegal networks and strengthen regulatory enforcement across borders.

China’s efforts to curb illegal cross-border trading reflect its commitment to fostering a transparent and sustainable trade environment. By addressing these illicit activities, the government aims to boost domestic industries, protect intellectual property rights, and ensure a balanced global trading system. Such actions reinforce China’s dedication to lawful and stable international commerce.

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Likely next PM pledges ‘biggest rebalancing of power our country has seen’ and support for businesses

Andy Burnham’s pledges to create a number 10 North and to create ‘good growth in every British postcode’ have been welcomed by business leaders in the North and across the UK.

Mr Burnham is expected to become the UK’s next Prime Minister after his victory in the Makerfield by-election, and today in Manchester gave his first speech outlining his plans for office. He promised to create the “biggest rebalancing of power our country has seen”, creating a ‘Number 10’ in the North based in Manchester to help shift decision-making from Whitehall.

Mr Burnham also promised support for business, including making sure that Whitehall backs British companies. He said: “For too long, UK public procurement policy has been based on chasing cut-price deals around the world rather than helping our own British-based suppliers become more stable and competitive.

“No more. From here on, every pound raised from taxpayers will work harder for them, and that approach will apply fully to the defence investment plan.”

Mr Burnham added he will “back our scientists, technologists, entrepreneurs and creatives”. He also committed to a house-building programme and to a “complete rethink” on education. He said he rejected the “trickle-down model” and added: “We will create a more streamlined state with a clearer purpose to power up all parts of the country and put a laser-like focus on growth and regeneration, good growth.”

Henri Murison, chief executive of the Northern Powerhouse Partnership, said: “Today Andy Burnham has made a bold commitment to further devolution. From giving places the tools to tackle economic inactivity to devolving post-16 skills, our verdict on these proposals are that they would help reduce the rising costs of welfare and the ill-health that places increasing pressure on the NHS.

“Alongside investment in infrastructure to drive productivity, raise wages and increase tax revenues, they would help turn the structural fiscal deficits seen across many parts of the North into surpluses that can be reinvested in future regional growth.

“We should all want a more united country. The Greater South East will benefit from greater freedom to raise the investment it needs, while, over time, having a reduced responsibility to subsidise other parts of the country as other regional economies become stronger.

“‘No.10 North’ will help ensure that the relocation of civil servants to places such as Darlington, York and Manchester delivers its full potential. These new government offices are helping regenerate those places, but Ministers themselves have not yet made effective use of them. A regular ministerial presence outside Whitehall would strengthen decision-making and bring government closer to the communities it serves.”

Shevaun Haviland, director-general of the British Chambers of Commerce said: “Firms need consistency, clarity and stability from policymakers, if business confidence is to be improved.

“Businesses will judge Andy Burnham’s plans on whether they deliver the boost to investment, productivity and trade desperately needed to unlock growth. As our recent report outlined, government must always ask whether policy passes a ‘growth delivery test’ to encourage firms to invest and grow.

“It’s crucial that the devolution agenda has local business at its heart and brings benefits to all parts of the UK.

“Our Chamber network completely understands how national ambition can be translated into local economic growth. We’ve long argued that more decisions affecting local economies, including transport, skills and infrastructure, should be taken closer to the communities they serve.

“Successful Chamber-led Local Skills Improvement Plans across England show the power of devolution to help address the challenges facing our economy. Creating greater parity between academic and technical qualifications is something business wholeheartedly supports.

“A pledge to improve the public procurement system is welcome, but it must quickly bring benefits to SME supply chains across the UK.

“Fiscal devolution must see money spent in the right way, to boost local growth. It must not mean further costs on business. BCC analysis shows government-imposed costs on SMEs have risen by more than 70% in just 10 years. New local business taxes and visitor levies would stifle economic growth.

“The difficult truth is, whoever leads the UK, the primary challenge remains the same – delivering growth. Business stands ready to work in partnership with any new Prime Minister to focus on that crucial task.”

Jane Gaston, CEO of Net Zero North West, said: “It’s encouraging to see a renewed focus on reindustrialisation, place-based growth and giving regions a stronger voice in shaping the UK’s economic future. Those principles closely reflect the approach we’ve been championing across the North West for many years.

“Our recent Why Industry Matters report highlighted that the North West contributes £270.8 billion to the UK economy, generates £68.5 billion in exports and supports 337,000 manufacturing jobs. The region is already one of the UK’s most significant industrial economies and has a critical role to play in safeguarding sovereign capability, strengthening energy security and delivering the clean energy transition.

“We welcome the ambition behind proposals such as a ‘Number 10 North’ and the recognition that industrial strategy must be built around places. However, any national plan for reindustrialisation must fully recognise the North West’s industrial strengths alongside other key regions. The North West is home to globally significant manufacturing, chemicals, advanced engineering and energy clusters that are fundamental to the UK’s future competitiveness.

“We also welcome the emphasis on strengthening UK supply chains and creating greater social value through public procurement. Combined with long-term policy certainty, investment in skills and infrastructure, and a genuinely joined-up approach to energy and industrial policy, these are the foundations needed to unlock sustainable growth across the whole country.

“The vision is encouraging. The next step is ensuring it is backed by a clear delivery plan that fully harnesses the strengths of regions like the North West, where the capability, expertise and partnerships to deliver long-term industrial growth already exist.”

Wayne Jones OBE, chair of Greater Manchester Chamber of Commerce, said: “It was good to hear Andy Burnham put greater devolution of power to the regions at the heart of his speech. As Mayor of Greater Manchester, he has seen first-hand what can be achieved when regions are given control over areas such as public transport.

“For far too long power in this country has been centralised in London with little thought about the needs of individual regions. Having regional mayors has been a step in the right direction but more power needs to be devolved for the regions to achieve their full potential.

“As it seems likely Andy Burnham will become Prime Minister unopposed next month, this speech is our first real indication of what he will do when he is in power. We hope he will stick to what he has set out in his speech and devolution doesn’t get lost among all the other issues that will face him when he gets into Downing Street. It is encouraging that he talked about setting up a ‘No 10 North’ which should help to keep government focused on what needs to be done across the North.”

Subrahmaniam Krishnan-Harihara, director of business policy and research at the chamber, added: “Andy Burnham’s first major leadership speech today sets out an ambitious, long-term vision to ‘lift Britain back up’ through a 10-year mission focused on raising living standards. Greater Manchester Chamber of Commerce welcomes the emphasis on sustained economic renewal rather than short-term fixes, and the clear recognition that the current centralised model has left too many parts of the country behind.

“Mr Burnham’s call for the biggest transfer of power out of Whitehall in modern times, delivered through greater devolution to regions and local leaders, is a positive step. Empowering mayors and combined authorities to drive ‘good growth in every postcode’, with a proposed ‘No 10 North’ in Manchester, could help tailor solutions to local needs and rebalance the economy.

“The emphasis on a partnership approach between government, business, universities and communities echoes what has worked in Greater Manchester and deserves support. His use of the phrase ‘give Britain the circuit breaker it needs’ appears to signal a decisive reset: a break from the cycle of over-centralisation, uneven growth and declining public trust in politics. It’s framed as a structural intervention rather than a short pause, aimed at changing how the country is governed to deliver better outcomes.

“That said, while the speech rightly highlights reindustrialisation, infrastructure, housing and utilities reform, it was notably light on the immediate pressures facing businesses, especially SMEs. There was no direct reference to the rising cost of employment, inflationary pressures coming from geopolitical events or the ongoing challenge of business rates, all of which remain significant burdens for smaller firms.

“Business was only mentioned at a high level in the context of the partnership model and procurement reform to support British industry and apprenticeships, but there was little granularity on how devolution or the 10-year plan would specifically ease costs, improve access to finance or reduce regulatory complexity for SMEs. The ambition and long-term framing are encouraging but the key test will be whether the new economic vision and promised devolution deliver practical, tangible support for small businesses on the ground, rather than remaining at the level of an ambitious strategy.”

Eva Barboni, executive director of Enterprise Britain, said: “There were signals in Andy Burnham’s speech that he recognises the critical role start-ups and scale-ups play in delivering a better future for Britain.

“We welcome his commitments to back Britain’s entrepreneurs, build clusters of innovation around our world-leading universities, and ensure that we capture the full value of British businesses.

“These commitments must be followed by a clear plan of action.

“Devolution alone will not automatically deliver growth. We need bold measures to unlock the capital British start-ups and scale-ups need to grow, ensure they can hire the right talent at the right time, and tear down the barriers that are holding ambitious businesses back.

Vanessa Hale, chief executive at Real Estate:UK, said: “The real estate sector has a critical role to play in boosting growth across the UK, working not only with national government, but also with newly empowered mayors and local leaders through genuine partnership working to deploy place-based funds, facilitate the development of industrial clusters, deliver the successful regeneration of places, and build new homes as part of a place-first, ‘good growth’ approach. With a stable and supportive policy framework, we can build the affordable and higher density homes that Andy Burnham says he wants.

“However, the full benefits of this will only be delivered if the same radical approach to reforming the role of government is also applied to how government works with the private sector, including full recognition of the challenges that the real estate industry faces, such as the viability crisis which has effectively stalled building activity across the country, that enhanced local and regional authorities need the extra resourcing to match the scale of their ambition, and an understanding that the need for stability is paramount for those seeking to make long-term investment into the UK.”

Michael Moore, chief executive at UK Private Capital, said: “We welcome Mr Burnham’s focus on public and private investment working hand in hand to make the UK an innovation nation. Private capital has a vital role to play in every nation and region of the UK, backing businesses, unlocking investment and helping local economies realise their full potential.

“By bringing decision-making closer to the communities it affects, and by strengthening partnerships between local leaders, businesses and private capital, investors such as our members can help more scale-up businesses and innovative spin-outs across the country grow and commercialise their ideas.

“Such focus on place-based collaboration and investment as a baseline for the UK economy presents a serious new opportunity for building a more dynamic and growing economy.”

Richard Caten, CEO at infrastructure consultancy Ardent, said: “It’s encouraging to see infrastructure and regional growth moving to the centre of the national conversation. The ambition to deliver ‘good growth in every postcode’ and strengthen decision-making outside Westminster is one the infrastructure sector will welcome.

“But ambition must now be matched by delivery. Unlocking sustainable economic growth depends on having a planning system that enables investment, meaningful engagement with communities from the outset, and the transport, energy and utility infrastructure needed to support new homes, businesses and jobs.

“Whether it’s through greater devolution or initiatives such as a ‘No 10 North’, success will ultimately be measured by how quickly projects can move from policy to delivery. If regions are given the powers, certainty and resources to bring forward critical infrastructure, they will be better placed to attract investment, unlock development and create long-term prosperity for communities across the UK.”

Cllr Louise Gittins, Chair of the Local Government Association, said: “Successive devolution agreements have demonstrated that devolving powers to local communities is the best way of unlocking the potential of people and their places, while boosting inclusive economic growth.

“It is now vital that the government steps up its ambition to deliver genuine devolution right across England, giving councils who know their communities the power to tackle long-standing local and national challenges, including driving infrastructure investment, plugging skills gaps, building more affordable housing and boosting productivity.

“By working together as equal partners across different levels of government, we can build prosperity and opportunity for our communities and businesses.”

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The investment in two plants by Jayplas is being supported with £12m of finance from the Wesh Government

A leading plastic processing firm is creating more than a hundred new jobs in South Wales.

J & A Young (Leicester), which trades as Jayplas, received an offer from the Welsh Government of £12m in non repayable finance in 2023 to establish a plastics reprocessing operation at the former Toyoda Gosei factory in Gorseinon, Swansea, in what was a £45m investment.

The company has now confirmed a second facility at Tafarnaubach Industrial Estate in Tredegar. Jayplas said the two facilities will create 105 jobs by March 2028, when they will be fully operational. The Welsh Government funding is subject to the jobs being created.

The facilities will double Wales’ reprocessing capacity for recycled plastic, with output from both sites capable of processing at least 100,000 tonnes of recycled flexible and rigid plastics a year. It will contribute to reducing the carbon footprint of Wales by around 150,000 tonnes per year – the equivalent of taking 120,000 cars off the road.

Jayplas commercial manager Kerry O’Neill said: “Jayplas is delighted to announce we are opening two plastics processing and recycling plants in Swansea and Tredegar. We have worked closely with the Welsh Government to expand our operations into Wales.

“We will utilise the latest, state of the art technology to ensure we have market leading facilities producing the highest quality products and bring long term investment and sustainable employment to the area.”

Minister for Enterprise, Connectivity and Energy, Adam Price, said:“Jayplas choosing to open a second site here in Wales is a further boost to decarbonisation and will see the company create green jobs in an area with a rich industrial past. This is exactly the sort of sustainable, future-facing employment we want to foster as part of our transition to a circular economy.

“Our new Welsh Government is focused on creating a stronger, more productive net zero economy that delivers for people in every part of Wales.”

Minister for Rural Resilience and Sustainability, Llyr Gruffydd, said: “Expanding our plastic reprocessing capacity in Wales is a vital step that will see the recycling, that we are world class at collecting, being processed into valuable material that then goes back into the economy.

“By keeping valuable materials in circulation and out of the environment, the Jayplas facility will help reduce emissions whilst delivering real benefits for communities and the natural environment across Wales. I’m delighted that Welsh Government investment is helping to make this happen as part of our commitment to net zero.”

John Morgan, Blaenau Gwent Council’s cabinet member for economy and place, said:“This investment is a strong vote of confidence in Blaenau Gwent, bringing quality, sustainable jobs and supporting our role in Wales’ circular economy.

” The Tafarnaubach development will boost local employment and help deliver our ambitions for sustainability, skills and long-term economic resilience. We welcome this investment and the opportunities creates, and wish Jayplas every success.”

The Gables Best Western was previously owned by West Midlands-based Webb Hotels

A hotel near the M5 in South Gloucestershire has been sold off for an undisclosed sum. The Gables – a Best Western on Bristol Road – was acquired in a joint venture by family-run Castlewood and the Vine Group.

The deal for the 46-bed property was arranged by Solihull-headquartered Enterprise Hotels & Hospitality and Simon Steven Associates.

The property was previously owned by Webb Hotel Group – a collection of family-owned and run properties in the Midlands, including Moor Hall Hotel & Spa in Sutton Coldfield, and the George Hotel and Cathedral Hotel in Lichfield.

Gavin Wright, founder of Enterprise Hotels & Hospitality, said the deal reflected “the ongoing confidence” of investors in the UK hotel sector and the “competitive appeal” of properties in well-connected locations close to major cities.

The Gables is located on a 1.8-acre site off the A38, 20 minutes from Bristol, with 104 parking spaces. The venue has meeting rooms for up to 200 people, a civil wedding licence for up to 150 guests, and reception space for 200 guests.

It also has a Marco’s New York Italian restaurant and bar, with seating for 80 guests, a refurbished bar accommodating 40, and a patio area.

Simon Stevens, founder of Simon Stevens Associates, said: “Following a competitive marketing process, we witnessed purchasers’ selective approach to the market, as investment yields continue to soften and price expectations continually come under scrutiny.

“In this instance, investors identified a clear strategic value-added opportunity and operational upside with the property and business that ultimately secured Vine Hotels’ commitment.”

Vine Hotels is a hotel management, consultancy and development business with a UK-wide portfolio of owned and operated hotels and venues. The acquisition of The Gable follows an announcement last month that Hotel Collingwood in Bournemouth had also joined Vine Hotels’ growing portfolio.

Garin Davies, chief executive of Vine Hotels, said: “The expansion of hotel and venue ownership and management is a key aim for us this year, and so the acquisition of The Gables Hotel has come during a busy and exciting period.

“I am delighted that we have been able to add two new hotels in two months, showing our commitment to growth. The Gables has great business development potential, with an ideal location for UK and international travellers visiting the Cotswolds and nearby tourist towns, while also serving commercial travellers commuting to Bristol and the wider south-west region.”

Angela Burns, chief executive of Webb Hotel Group, added: “I am pleased we have been able to secure the sale of The Gables and pass the hotel into the hands of experienced hoteliers who share our commitment to excellence in hospitality. We wish them every success and look forward to seeing the hotel prosper in the years ahead.”

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

The MP for Makerfield has made his first major policy speech since launching a bid to become PM

Labour leader hopeful Andy Burnham has pledged to create a ‘No 10 North’ if he becomes Prime Minister, claiming it will help power flow into regions including the West Country.

The newly elected MP for Makerfield, who is currently the party’s frontrunner to take over from Sir Keir Starmer, unveiled plans on Monday (June 29) to devolve more powers to the UK’s regions and nations.

In his first major policy speech since launching his leadership bid, the former Greater Manchester mayor said he would deliver the “biggest change in our lifetime to the way the country is run” while remaining “consistent” to Labour’s 2024 manifesto.

“We will create a more streamlined state with a clearer purpose to power up all parts of the country and put a laser-like focus on growth and regeneration,” he said.

“The change will be driven through the prime minister’s office in an extended operation based here in Manchester. But here’s the important thing; it will only be based here. The job of No 10 North will be to make power flow into the Midlands, into the South West, into the East of England and yes, into London.”

Burnham said his proposals would help regional leaders gain “greater public control” in areas such as transport, housing, energy and water.

“No 10 North will be the nerve centre for a rewired Britain,” he said. “It will be the conduit through which we redistribute power and resources across the UK. It will coordinate all parts of government, at national and local level, to agree a long-term economic strategy and help all places set new growth ambitions.”

He also called for “good growth in every British postcode” adding that he wanted “more joined up decisions” with Westminster and the UK’s regions and nations.

He said No 10 North would support the regions in three areas: reform of essential utilities; reindustrialisation; and the regeneration of places.

“We are such an inventive country and, going forward, we can be the world’s leading innovation nation,” he said. “This is the key to higher growth.”

West of England’s mayor Helen Godwin responded to the comments by calling for “more power and more funding” as the UK’s only expanding combined authority.

The West of England Combined Authority (Weca) currently covers Bristol, Bath and North East Somerset, and South Gloucestershire, but could soon also be joined by North Somerset.

“The West Country has to be at the heart of places getting more powers and more funding,” said Ms Godwin.

“That must be the case as the only expanding combined authority, with North Somerset joining, and as we push towards Established Strategic Authority status.”

Ms Godwin said she was “glad to see” that devolution was “front and centre” of the national conversation following Burnham’s speech.

“As the country’s fastest-growing regional economy over the last five years, we can help power a bright future,” she said.

“We have seen historic steps forward on devolution over recent months, with commitments to enable mayors to introduce overnight visitor levies and to retain some of the taxes raised from our communities.

“In this new chapter, our region now has a proper seat at the table. Our voice is now being heard. But more is needed to give people hope.”

According to Weca, since 2019 the economy across the Bristol and Bath region has grown four times faster than the national average. In 2023, the West grew by almost three per cent – outperforming every other combined authority area and London.

In May, Weca set out its growth potential – said to be worth some £17bn – at a major UK investment summit in Leeds. It followed the unveiling of a 10-year growth strategy last year which the mayor said could create tens of thousands of jobs in the West of England and drive major investment in the region.

She added: “Over the months ahead, we will be proudly making the case in Westminster and beyond at every opportunity to secure the investment that our region deserves – with a new £17bn Investment Prospectus – and make a difference for communities.

“Together, we can deliver change that people across the West of England can really see and feel.”

If no other Labour MP makes a leadership bid, Burnham could replace Sir Keir as Prime Minister as soon as July 20.