Business

New plan is launched to boost North East offshore wind sector

Published

6 hours ago

3 April 2026

NewsAdmin

The 10-year strategy has been backed by the region’s two mayors

An offshore wind farm(Image: Adam Gerrard / Daily Mirror)

A new plan for the future of offshore wind in the North East has been launched, highlighting how the region can build upon its position as a major UK contributor. The 10 Year Vision and Strategy for North East England Offshore Wind was unveiled at the Energi Coast Supply Chain Showcase, held at The Boiler Shop in Newcastle city centre.

The strategy focuses on the region’s role in defining the next phase of offshore wind industrialisation in the UK. It highlights how the North East can build momentum in offshore wind over the next decade and how it can set the standard in offshore electrical solutions and lead development of deeper-water technologies.

Commissioned by UK energy sector network NOF on behalf of the North East Combined Authority (North East CA) and Tees Valley Combined Authority (TVCA), the strategy was developed with support from Energi Coast, the North East of England’s offshore wind cluster.

The North East is already a major contributor to the UK’s offshore wind industry, with significant port infrastructure and extensive capabilities in manufacturing, fabrication, assembly, logistics and operations and maintenance, as well as a world class supply chain.

The new vision and strategy aims to build on existing strengths to maximise opportunity, ensuring it can unlock high quality job opportunities and support the local economy, whilst also strengthening the UK’s offshore wind supply chain in the long term.

The strategy suggests that the region can capitalise on its capabilities in advanced components, smart fabrication, sustainable materials, data science, robotics, logistics and environmental services to drive further employment and growth.

The launch follows last week’s announcement from The Crown Estate that a new offshore wind leasing round in 2027 could accommodate a capacity of around 6GW or more. The identified area is predominantly based off the coast of the North East and could result in the creation of up to 10,000 direct jobs and a potential economic boost to the UK of over £12bn.

Joanne Leng, chief executive of NOF, which owns and operates Energi Coast, said: “Given the opportunity that lies before us – brought into even sharper focus by The Crown Estate’s announcement last week, which is opening up to 6GW of additional capacity off the North East Coast – it was crucial that North East England has a roadmap for growth in the next decade of offshore wind. That has now been created and we’re looking forward to supporting its delivery – and seeing the region’s outstanding capabilities continue to evolve.”

Tony Quinn, chair of Energi Coast, said: “The North East of England is rapidly becoming the epicentre of the UK’s energy transition. We already have 10GW of Offshore Wind in various stages of operation, construction or development and need to start planning for another 6GW as announced by the Crown Estate last week. It is therefore imperative that we have a strategy that clearly articulates how in the North East we intend to maximise the economic opportunity and make an important contribution to the UK’s future energy security.”

North East Combined Authority and Tees Valley Combined Authority have both placed offshore wind and clean energy at the heart of their Local Growth Plans and wider strategies, with North East mayor Kim McGuinness previously unveiling ambitions to double the number of green jobs to 50,000 by 2035, and the TVCA aiming to grow its cluster of 17,000 jobs, comprising offshore wind and wider clean energy technologies.

Ms McGuinness said: “I want to double the number of green energy jobs in our region by 2035, and this strategy shows how offshore wind can power the next decade of those jobs in the North East. It aligns directly with my £130m Plan for Green Jobs, making sure local people benefit from the green energy revolution through secure work, skills, and opportunity.”

Tees Valley mayor Ben Houchen added: “The North East is already at the forefront of the UK’s offshore wind sector, and this new vision will build on our strengths to make sure we seize the full opportunity ahead of us. Our skilled workforce, proud industrial heritage and clear ambition to go even further means we can create more high-quality jobs and ensure local people and local firms benefit directly from the enormous opportunities in the sector.”

Business

Form DEF 14A Brookfield Real Estate Income Trust Inc. For: 3 April

Published

2 minutes ago

3 April 2026

NewsAdmin

Form DEF 14A Brookfield Real Estate Income Trust Inc. For: 3 April

Business

Flux Power discloses loan agreement default and ongoing negotiations

Published

8 minutes ago

3 April 2026

NewsAdmin

Flux Power discloses loan agreement default and ongoing negotiations

Business

US jobs surge unexpectedly in March despite Iran war

Published

15 minutes ago

3 April 2026

NewsAdmin

US jobs surge unexpectedly in March despite Iran war

Employers added 178,000 jobs, far more than had expected, the Labor Department says.

Business

Private jet travel costs rise as fuel prices soar

Published

23 minutes ago

3 April 2026

NewsAdmin

Private jet travel costs rise as fuel prices soar

A Gulfstream G-IV private jet on approach to Washington’s Reagan National Airport in Arlington, Virginia, June 12, 2024.

J. David Ake | Getty Images

As the Iran war pushes jet fuel prices higher, well-heeled travelers are facing hefty surcharges to fly private, sometimes on flights booked months prior, charter brokers and aviation insiders told CNBC.

Vimana Private Jets CEO Ameerh Naran said the firm recently booked a $520,000 flight from Dubai to London on a Boeing business jet for a client. That same trip cost the client $400,000 in 2023. The difference was entirely due to jet fuel prices — which now average about $4.65 a gallon globally — Naran said.

It’s yet another ripple in the recent disruptions to air travel.

More customers turned to private air travel during the pandemic to avoid crowds. The option remains popular and has become more important to the aviation sector as wealthier households prop up spending in travel and other sectors.

These deep-pocketed travelers are less likely to get priced out as airfares rise, but they have to navigate unexpected fees as brokers and charters differ on how they pass along fuel costs. Jet fuel prices in major U.S. cities were up more than 80% last month, according to Airlines for America, an industry group, citing Argus data.

Jet charter brokers like Vimana arrange flights with jet operators, which own the planes and buy fuel, on behalf of passengers. Naran said Vimana does not renegotiate contracts and does not reprice flights, but that charter prices have surged quickly.

He advised travelers to book sooner than later, saying any price hikes are likely to be sticky even if the Iran war ends soon.

Larger jet operators are slower to pass along fuel costs to passengers as they buy fuel in bulk and want to avoid alienating customers, according to Naran. However, operators will likely have to pay more at the pump when they replenish their supplies, and some are taking losses by not repricing flights, he said.

“There’s a long-term effect, because a lot of companies now will be making losses,” he said. “They’re not going to renegotiate the contract because they don’t want to spoil the relationship with the client, but if they’re making a loss today, they’ve got to recoup it.”

Jet charter prices have increased by 5% to 15% on average, with some rising by as much as 20%, since the Iran conflict began, according to charter broker Amalfi Jets’ database.

Passing costs to passengers

While some operators have raised prices on flights booked months ago and scheduled to fly in the coming weeks, Amalfi Jets CEO Kolin Jones said his company is eating the surcharges for jet card customers.

Some operators are also passing along increased war risk premiums for flights in the Gulf, though Amalfi Jets has only encountered this with three flights so far, he said. The charges added about $8,000 to $10,000 per trip, Jones said.

Gregg Brunson-Pitts of charter broker Advanced Aviation Team said that while he believes operators should honor prices for previously booked flights, repricing is a risk.

In some cases, the fees are relatively insignificant, he said, like a $1,500 surcharge for a flight from Palm Beach, Florida, to Phoenix, Arizona, on a Bombardier Challenger 300, for example. On the other hand, a round trip on a Gulfstream from the East Coast to Asia could incur $20,000 in surcharges for every dollar increase in fuel prices per gallon, he said.

Some long-haul trips have all-inclusive fuel pricing, Brunson-Pitts added.

Nearly all charter contracts include a fuel variable expense, allowing providers to charge more even if the flight was booked six months ago, according to Amanda Applegate, a partner at Soar Aviation Law.

Get Inside Wealth directly to your inbox

Fractional jet owners, who share overhead costs in exchange for a set number of flight hours, typically pay an hourly rate on fuel that’s adjusted on a monthly or weekly basis. Even they may be on the hook for surcharges when fuel prices spike, Applegate said.

Private jet travelers are less price-sensitive than most flyers, and brokers told CNBC that they haven’t seen surcharges deter demand. Customers who only fly private once or twice a year for special occasions are most likely to get sticker shock, they said.

“Realistically, the individuals that are flying private, the need and want and reason of flying private does outweigh cost,” Jones said. “If you’re going to spend $25,000 on a private jet, and let’s say the cost is now $30,000, that doesn’t necessarily price people out.”

Brokers are also working to mitigate costs by refueling in countries where fuel is cheaper, even if it means additional flight time, Jones said.

Demand for private flying

So far, the business jet market is holding steady, with flights up 5% year over year in the week through March 22, according to aviation data and consultancy firm WingX.

Flexjet global CEO Andrew Collins said jet utilization by the company’s fractional aircraft owners is up 15% over last year. Clients are generally invoiced after they fly, and the company resets fuel prices toward the end of the month, taking an average of the month, he said.

Even as oil prices surge, travelers looking to avoid long lines at airports may be propping up demand for private charters.

Recent government shutdowns — a major disruption last fall and now a partial, ongoing shutdown — have left key aviation workers without pay and slowed air travel.

Most recently, that has led to hourslong lines at major U.S. airports like those serving Houston and New York as Transportation Security Administration officers called out of work while they weren’t receiving regular pay.

In the five weeks after the partial government shutdown began on Feb. 14, business jet departures increased year over year at most metropolitan airports, WingX reported.

Flexjet’s Collins said the company saw an increase in what he called “pop-up flights,” or reservations that guaranteed an aircraft within 10 hours of departure, during the recent airport chaos.

That said, Amalfi’s Jones said he has noticed some clients opting to fly on smaller aircraft to spend less.

“Some of them are very upset about that, like, ‘Hey, I used to fly on Citation Xs. Pricing is so expensive, and now I’m flying on a Hawker 800,’” Jones said. “It’s like, well, you’re still flying private. You’re going to get there maybe three minutes slower than the bigger airplane. But all in all, it’s the same kind of level of experience.”

Brunson-Pitts encouraged flyers to confirm with their broker whether they can expect a fuel surcharge or an invoice after their trip. Still, he said he expects the situation to be temporary, comparing it to oil’s rapid surge and subsequent crash from 2007 through 2008.

“This too shall pass,” he said. “That doesn’t mean it’s not painful, but the price of jet fuel rises and then it falls again.”

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Business

Samsung Set for July Unpacked with New Wide Variant and Major Upgrades

Published

31 minutes ago

3 April 2026

NewsAdmin

Samsung Galaxy S26 Ultra Set for February 25 Unveiling at

Samsung’s next-generation book-style foldable, the Galaxy Z Fold 8, is expected to launch in July 2026 during the company’s traditional summer Galaxy Unpacked event, with pre-orders likely opening the same day and general availability following about two weeks later, according to multiple supply chain reports and analyst projections.

Samsung Galaxy Z Fold 8 Release Date: July 2026 Launch Expected with Major Upgrades & Wider Variant

The anticipated July timing continues Samsung’s established pattern for its premium foldables. The Galaxy Z Fold 7 launched on July 9, 2025, and the Fold 6 on July 10, 2024. Industry insiders and leakers, including reliable voices such as Ice Universe, point to a similar window in 2026, most likely the second week of July for the official unveiling, with retail sales commencing around July 22 or 24.

This year’s event is shaping up to be particularly significant, as Samsung is reportedly preparing not only the standard Galaxy Z Fold 8 and Galaxy Z Flip 8 but also a new “Wide” variant of the Fold 8. The wider model, sometimes referred to as the Galaxy Z Fold 8 Wide, is designed with a more expansive aspect ratio to better compete with upcoming foldable devices from rivals, including Apple’s anticipated first foldable iPhone. Carrier database listings and regulatory filings have already confirmed multiple model numbers, indicating all three devices are on track for a coordinated summer launch in the third quarter.

Expected Design and Display Improvements

Early leaks suggest the Galaxy Z Fold 8 will focus heavily on refining the foldable experience rather than overhauling the core form factor. The inner folding display is expected to measure approximately 8 inches, while the cover screen remains around 6.5 inches, both supporting smooth 120Hz refresh rates on Dynamic AMOLED panels.

A major highlight in rumors is significant progress on the persistent crease issue. Samsung is reportedly testing dual-layer ultra-thin glass combined with a laser-drilled metal support plate, aiming for a near-invisible crease when the device is unfolded. The overall chassis is expected to be thinner and lighter than previous generations, with some projections placing the weight as low as 200 grams in certain configurations.

Durability enhancements are another key theme. Stronger hinge mechanisms and improved water and dust resistance ratings are anticipated, addressing long-standing consumer feedback about foldable reliability.

Performance, Battery and Camera Upgrades

Under the hood, the Galaxy Z Fold 8 is widely tipped to feature Qualcomm’s Snapdragon 8 Elite Gen 5 (or a Galaxy-optimized variant), paired with generous RAM options of 12GB or 16GB and storage tiers ranging from 256GB to 1TB. Advanced vapor chamber cooling is expected to keep temperatures in check during demanding tasks such as gaming or multitasking across the large inner display.

Battery capacity is another area of focus, with leaks pointing to a 5,000mAh cell — a notable increase that could deliver substantially better endurance, especially when using the unfolded screen. Faster charging speeds, potentially up to 45W wired, are also rumored, along with possible improvements in wireless charging.

On the camera front, the Galaxy Z Fold 8 could see a significant leap with a 200-megapixel main sensor, supported by a 50-megapixel ultrawide lens and a 10-megapixel telephoto with 3x optical zoom. These upgrades would position the foldable closer to Samsung’s flagship Galaxy S series in photography capabilities, enhancing its appeal for content creators who value the large unfolded canvas for editing and previewing.

Software support is expected to include One UI 9 based on the latest Android version, with Samsung promising extended years of OS and security updates to match or exceed competitors in the premium segment.

Pricing and Market Strategy

Pricing is projected to remain largely consistent with recent generations, starting around $1,999 in the United States for the base model. However, some analysts speculate a modest increase in certain markets due to enhanced materials and components. The new Wide variant may carry a premium, though exact figures have not yet surfaced.

Samsung’s decision to launch both the standard Fold 8 and the wider model simultaneously appears aimed at broadening appeal and preempting competition from Apple’s rumored foldable iPhone, expected later in 2026 or 2027. By offering different screen proportions, Samsung hopes to capture users who prefer a more tablet-like experience when unfolded or a narrower profile when folded.

Production plans reportedly prioritize the Galaxy Z Fold 8, with estimates of 3.5 million units prepared ahead of launch compared to 3 million for the Flip 8, reflecting stronger expected demand for the book-style design.

Broader Context in Samsung’s Foldable Roadmap

The 2026 foldable lineup underscores Samsung’s continued dominance in the category it helped popularize. Since introducing the original Galaxy Fold in 2019, the company has iterated steadily, improving hinge durability, display quality and software optimization with each generation.

This year’s additions, including the Wide model, signal an aggressive push to expand the foldable market beyond early adopters. Features such as enhanced S Pen support (rumored to return in improved form), better multitasking and AI integrations via Galaxy AI are expected to make the devices more productive and appealing for professional users.

Global availability is anticipated shortly after the Unpacked event, with pre-orders likely including bundled accessories, trade-in deals and carrier financing options to lower the entry barrier for interested buyers.

As the July launch window approaches, more concrete details are expected through official teasers, regulatory certifications and hands-on leaks. In the meantime, speculation continues to build around how the Galaxy Z Fold 8 and its Wide sibling will differentiate themselves in an increasingly competitive foldable landscape.

For consumers considering a foldable purchase in 2026, the Galaxy Z Fold 8 appears poised to deliver meaningful refinements in nearly every area — from the display crease to battery life and photography — while maintaining the premium price point that has defined the series.

Samsung has not yet confirmed any specifics, and all details remain subject to change until the official unveiling. Enthusiasts and analysts alike will be watching closely as the company prepares what could be one of its most ambitious foldable lineups to date.

Business

Insignia CEO aims to revitalize refrigerated tortilla segment

Published

39 minutes ago

3 April 2026

NewsAdmin

Insignia CEO aims to revitalize refrigerated tortilla segment

New refrigerated products part of La Tortilla subsidiary.

Business

FDA delays effective date for two approved colors

Published

47 minutes ago

3 April 2026

NewsAdmin

FDA delays effective date for two approved colors

Petitions object to the safe use of beetroot red and spirulina.

Business

United announces Base Polaris business class with more restrictions

Published

54 minutes ago

3 April 2026

NewsAdmin

United announces Base Polaris business class with more restrictions

United Airlines new Polaris seat on one of its Boeing 787 Dreamliners

Leslie Josephs/CNBC

Does it matter where you sit if you’re sipping Champagne in first class? United Airlines is betting that for some travelers looking for luxury at a discount, it doesn’t.

The carrier is launching new, cheaper tiers for its top-end Polaris and premium economy cabins that come with many of the same perks — but plenty of restrictions too.

Starting this spring, United will offer “Base” Polaris fares which will include a spot in the airline’s long-haul business class cabins featuring lie-flat seats, but will charge those customers extra for advanced seat selection.

The new ticket class will also come with only one checked bag instead of two, and with access to the United Club airport lounge but not the higher-end Polaris lounge, which include showers and other plush features. Ticket changes aren’t allowed.