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The deal, the value of which is undisclosed, sees Anlaby-based Oscars buy the Hull residential property management firm from the Garness Group

East Yorkshire estate agency Oscars has acquired Hull’s Gro Residential Management in a deal that establishes a 17-strong operation. The transaction, for an undisclosed sum, sees Anlaby-based Oscars purchase the property management company from Hull-based Garness Group.

Oscars said the acquisition arrives during one of the most significant periods of change in the private rented sector, following the introduction of the Renters Reform Bill. Alisdair Bott-Francis, who founded Oscars 18 years ago, said he is delighted to be bringing together two experienced and committed teams.

He said: “We are absolutely thrilled to add the Gro Residential Management team to the Oscars family. They each bring a wealth of experience, professionalism and industry knowledge, which will be a tremendous asset to our business and to the clients we proudly serve.

“Just as importantly, their arrival complements the strength of our existing team, whose loyalty, dedication and hard work have played such an important role in the continued success of Oscars over many years.

“Bringing together two experienced and committed teams places us in a fantastic position moving forward. This is an exciting time for the business, and I am very much looking forward to working together as one team, continuing to grow the Oscars family, and delivering the high standards of service that landlords and tenants expect from us.”, reports Hull Live.

Mr Bott-Francis, alongside Oscars director Paul Callis, who joined the firm late last year, have maintained a long-standing relationship with Garness Group founder and managing director David Garness. Mr Callis first worked with Mr Garness more than two decades ago while building his own property portfolio, purchasing many of his early investments through the Garness Jones commercial property team.

Mr Callis added: “We are incredibly proud that David has trusted Oscars with the Gro Residential Management business, its staff, and its clients. There is a strong history between our businesses, and we are committed to carrying forward the excellent service already established while continuing to invest in people, systems and relationships.

“The trust built between our businesses over many years has made this a natural fit, and we are excited about the opportunities this acquisition creates for both our team and our clients. Bringing together two strong teams gives us an exciting platform for the future, and I am genuinely looking forward to the continued growth of the Oscars family in the years ahead.”

Mr Garness explained the transaction will enable Garness Group to concentrate on its core activities of commercial property, development and investment through Garness Jones, and specialised residential block management through Pure Block Management, across Yorkshire and The Humber, with both businesses operating from offices in Hull and York.

He continued: “I’m extremely proud of the success we have had with Gro Residential Management, and really pleased also that we have been able to turn to a company in Oscars which has similar values to ours in terms of its complete commitment to customer service. This move allows us to focus on the continued development of Garness Jones and Pure Block Management, each of which have built upon decades of success in the Humber region with significant growth in recent times following the opening of offices in York.

“I was very keen to find an East Yorkshire-based business to take on Gro Residential Management, and retain the current team, as it was important to us that our high service levels were maintained for our long-established clients. We know we have found this in Oscars and we wish them, and of course our team members who have moved on, all the best for the future.”

Shares of metal companies such as Vedanta, NALCO, Hindustan Zinc and others dropped up to 3% despite the overall uptrend in the market on Thursday, as metal prices tumbled due to a stronger dollar and rising expectations of the reopening of the Strait of Hormuz.

National Aluminium Company (NALCO), Vedanta and Hindustan Zinc shares fell nearly 3% each, while Hindustan Copper declined around 2%. Hindalco Industries and APL Apollo Tubes shares dropped over 1% each, while NMDC, Jindal Steel and Jindal Stainless Steel shares slipped around 1% each.

Silver prices plunged as much as 14% this week, extending losses for a third straight session on Thursday, a day after tumbling to a seven-month low. Silver is now trading at less than half of its all-time high of $121 an ounce touched in January. Aluminium prices also extended losses after falling to a three-month low on Wednesday, as a stronger US dollar and continued unwinding of the Middle East risk premium outweighed signs of disagreement between the US and Iran over key terms of a deal to end their war. Copper and zinc prices also dropped sharply to multi-month lows.

Also read: Why silver prices have crashed 14% this week to hit a 7-month low

The sharp drop in metal prices also comes amid increasing expectations of a hawkish Federal Reserve, prompting traders to raise bets on an interest rate hike later this year. The US Federal Reserve last week held interest rates unchanged, but a higher number of policymakers expected a rate hike in borrowing costs later this year amid concerns about inflation remaining above the US central bank’s 2% target. In what was the first Fed FOMC meeting under Chairman Kevin Warsh’s tenure, the central bank acknowledged that inflation was “elevated relative to the Committee’s 2% goal”, partly due to “supply shocks that have driven price increases in certain sectors, including energy.”

What lies ahead?

“Metal stocks had become technically stretched, so a short-term pullback was expected,” said Netra Deshpande, Research Analyst at Mirae Asset Sharekhan. Metal stocks saw sharp gains since the West Asia conflict broke out, as supply disruptions and resilient demand drove up prices on the London Metal Exchange (LME). The rally eased following peace talks between the US and Iran around mid-June.
“Easing geopolitical tensions and subsequent unwinding of risk premiums led to a fall in aluminium, steel, copper and zinc prices, which have weighed on sentiment,” said Anita Gandhi, Head of Institutional Broking at Arihant Capital. “A firm dollar index is likely to continue exerting downward pressure on metal prices, and its trajectory will be key to determining how metal stocks perform going forward,” she added.
Also read: Metal companies’ hot run comes to an end as West Asia cools off
(With inputs from agencies)

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

Its latest project is a 40 home scheme in Aberbargoed.

Housebuilder Llanmoor Homes has begun work on a new residential scheme in Aberbargoed.

Construction of the 40 home development on the south of Bedwellty Road has commenced earlier than anticipated, following the success of its nearby St Sannans Field development.

The new development, which has not yet been named, will be built on grassland below Y Ffordd Wen. It will provide a mix of two-, three- and four-bedroom homes, .

Infrastructure works began on the site this month, including the installation of site offices and storage facilities. Family business Llanmoor Homes, based in Pontyclun, expects to begin construction of the first homes in late autumn, when prices and further details of the development will also be released.

Tim Grey, sales director at Llanmoor Homes, said: “The response to our nearby St Sannans Field development has been outstanding, with homes selling at a pace that exceeded our expectations. As a result, we have been able to bring forward plans for this neighbouring site much sooner than originally anticipated.

“The local housing market has remained incredibly resilient despite recent economic challenges, and we have seen unprecedented demand from a wide range of buyers. This includes first-time buyers looking to take their first step onto the property ladder, growing families seeking additional space and existing homeowners wanting to move to homes that better suit their changing needs.

“We know there is a strong appetite for high-quality new homes in Aberbargoed and the surrounding area, and this development will help provide more choice for local people. By offering a range of house types and sizes, we hope to create a development that appeals to buyers at different stages of life while supporting the continued growth of the community.

“It is always exciting to see work begin on a new development, and we look forward to sharing more details over the coming months as the site progresses.”

The development will also include dedicated parking areas, landscaped green spaces and play provision.

There will be no affordable housing provision on the development, as Llanmoor Homes has already met the affordable housing requirements set by Caerphilly Council on its nearby St Sannans Field development.

Llanmoor was founded by former chartered accountant Brian Grey in 1966, and soon completed its first development, a small group of bungalows, in the village of Brynna, near Pencoed. Brian’s sons Simon, Matthew and Tim continue to run the business

Over the last 60 years it has sold more than 5,000 homes.

As the NBA offseason heats up, a proposed trade sending LeBron James back to the Cleveland Cavaliers in exchange for center Jarrett Allen has sparked discussions about potential roster reshaping for both franchises.

The scenario, discussed by ESPN’s Brian Windhorst, would involve James signing with Cleveland and being traded to the Lakers for Allen. While highly speculative, it highlights the strategic calculations teams make when balancing star power, salary cap constraints and long-term contention windows.

James, who will turn 42 before the 2026-27 season, holds a player option for next year. His future remains a central topic as the Lakers build around Luka Doncic as the franchise’s new cornerstone.

Cleveland, which drafted James in 2003, has expressed interest in bringing him back for a potential final chapter. The Cavaliers have built a competitive core around Donovan Mitchell but lack a clear path to championship contention without additional star talent.

Allen, a reliable starting center with double-double potential and strong rim protection, would address a key need for the Lakers. His youth and contract make him an attractive target for Los Angeles as they seek frontcourt stability alongside Doncic.

Trade Mechanics and Cap Implications

The deal would require James to opt out and sign with Cleveland before being traded. This sign-and-trade structure allows the Cavaliers to create salary cap space by moving Allen’s contract.

Allen’s deal is valued at approximately $90 million, providing substantial relief for Cleveland while giving Los Angeles a proven big man. The Lakers have prioritized finding a quality center to complement their backcourt.

Windhorst noted the Lakers’ strong interest in Allen. “If your pathway to paying LeBron the money is to trade Jarrett Allen for him, the Lakers would kill for Jarrett Allen,” he said. “They would do that deal in 17-tenths of a second.”

Cleveland would gain James’ experience and leadership alongside Mitchell and potentially James Harden, who is expected to re-sign with the Cavaliers. The trio would create significant offensive firepower, though ball distribution and defensive fit would require careful management.

James’ Legacy and Future

James’ potential return to Cleveland would represent a storybook ending to his legendary career. The four-time MVP began his professional journey with the Cavaliers and delivered their first championship in 2016.

A homecoming would allow James to finish his career where it started, potentially mentoring younger players while chasing another title. His basketball IQ and leadership would benefit a Cavaliers team seeking playoff success.

For the Lakers, parting ways with James would mark the end of an era that included multiple championships and record-breaking achievements. The franchise has already shifted focus toward Doncic as its primary star.

James has not publicly commented on the speculation. His decision will ultimately depend on competitive opportunities, family considerations and personal goals for the final stages of his career.

Lakers’ Strategic Direction

Los Angeles has prioritized building a sustainable contender around Doncic. Acquiring a young, productive center like Allen would address a long-standing need for frontcourt size and defense.

The Lakers’ recent extension with Austin Reaves and management of other free agents demonstrate commitment to roster continuity. Adding Allen would provide defensive anchor and lob threat potential for Doncic.

Cleveland’s perspective centers on creating a championship window. Pairing James with Mitchell and Harden would create one of the league’s most talented offensive groups, though defensive concerns and chemistry questions remain.

The Cavaliers’ front office must evaluate whether the move aligns with long-term vision or represents a short-term gamble. Salary cap implications and future flexibility will factor heavily into any decision.

NBA Trade Landscape

The proposed deal exemplifies the complex calculations teams make during the offseason. Sign-and-trade transactions allow star movement while providing cap relief for sending teams.

James’ unique status as both a veteran leader and still-productive player creates unique opportunities. His basketball intelligence and experience remain valuable assets for contending teams.

The NBA’s salary cap and luxury tax rules heavily influence trade structures. Teams must balance immediate contention with long-term roster building under current collective bargaining agreement constraints.

Roster fit, chemistry and coaching schemes play crucial roles in evaluating potential trades. Both Los Angeles and Cleveland would need to assess how James or Allen integrate with existing cores.

Potential Outcomes

James returning to Cleveland for a final run would generate enormous excitement in Ohio. The narrative of completing his career where it began would captivate fans and media alike.

For the Lakers, acquiring Allen would provide defensive stability and allow Doncic to operate with a reliable interior partner. The move would signal a new chapter focused on sustainable contention.

Both scenarios involve risk. James’ age and injury history require careful management, while Allen’s fit in Los Angeles would need time to develop.

The hypothetical trade highlights the fluid nature of NBA roster construction. Teams constantly evaluate talent, contracts and opportunities to improve competitiveness.

As free agency and trade discussions continue, James’ decision will influence multiple franchises. His choice will shape not only his legacy but the competitive balance in both conferences.

The Lakers and Cavaliers both face important strategic crossroads. How they approach James’ situation could define their trajectories for years to come.

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What Happened in Markets Today

Tech stocks fell hard, driven by AI and chip companies. The rout began overnight in Asian markets, notably South Korea where Samsung and SK Hynix each fell 12%. While this year has seen a ferocious bull market in AI-themed stocks, concerns continue to grow about the costs of building data centers and the uncertain future revenue prospects. Sandisk dropped almost 14%. Other large decliners included Micron Technology, Arm Holdings and Marvell. The Nasdaq finished 2.2% lower, the S&P 500 fell 1.4%, and the Dow industrials lost 0.1%.

Oracle cut about 21,000 jobs during its last fiscal year. The company made the disclosure in its latest annual report, filed late Monday. The cuts are part of a wider trend among tech giants as they spend hundreds of billions of dollars building out AI infrastructure. Oracle said its head count shrank by about 13% during the previous fiscal year.