Ambler House in Trevelyan Square has recently undergone a complete refurnishment
The exterior of Ambler House in Leeds(Image: Knight Frank)
Three new tenants have moved into new city centre offices after signing up for space in a renovated Leeds building. Spire Barristers, engineering and talent consultancy Apera and software company Azzuu have all moved into Ambler House, based in the popular Trevelyan Square.
All three deals were brokered by the Leeds office of global property consultancy Knight Frank, acting on behalf of landlords Karrev.
Leigh Royall, senior clerk at Spire Barristers said: “Our decision to move our chambers to Ambler House was entirely down to its location in the heart of Leeds city centre along with the ideal size and layout of floorplan, which is giving us the opportunity to design a Barristers Chambers fit for the future. We’re proud and passionate about our expertise in family and public law which we use to help deliver justice and empower our communities.”
Meanwhile James Woodhead of Apera, which also has bases in Los Angeles and Manchester, said: “We chose Ambler House because it’s a beautiful, listed building with real character in a great location. The refit is to a very high standard and includes all the amenities we need.
Advertisement
“The space is perfectly aligned to our Leeds growth plans. Both Knight Frank and landlords Karrev have been incredibly helpful. The whole process was straightforward and smooth in a way that office moves often are not.”
Inside Ambler House in Leeds(Image: Knight Frank)
Victoria Harris of Knight Frank said: “We are absolutely delighted to welcome these three new flourishing companies to Ambler House. This hat-trick of lettings is a ringing endorsement of the quality of the building and its superb location. This is a winning combination.
“Ambler House provides characterful private offices by a quiet green square in Leeds city centre. A short walk from Leeds Station and with parking spaces available at Leeds Trinity car park, Ambler House is wonderfully connected for commuters.
“Having recently finished a complete refurbishment, the beautiful office spaces at Ambler House feature best-in-class traditional and fitted workspace, enabling companies to think about their office in the long term. Offering fully furnished and blank-canvas offices to let, this building is a perfect move for companies looking for a longer-term solution for their operation in Leeds.”
Advertisement
She added: “Work is now beginning on the fourth floor at Ambler House. There is currently 2,576 sq ft of quality space remaining, which can be let as a whole or in two parts.”
Benn Dickinson of Karrev Real Estate said: “We bought Ambler House because we believed in its potential. Its quality as a building and its location, surrounded by green space, yet so close to the city’s professional core, was key. Now after a sensitive refurbishment, we have welcomed three new flourishing businesses and are looking forward to welcoming more, with two new quality office suites are being created on the fourth floor.”
Bank of England holds interest rates at 3.75% and cuts growth forecast: What you need to know | Business Live
Need to know
Rate-setters see inflation easing and say more cuts could follow
12:09, 05 Feb 2026Updated 12:18, 05 Feb 2026
A view of the Bank of England in London(Image: PA Archive/PA Images)
The Bank of England has kept interest rates on hold
The Bank of England’s Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 3.75% and says the rate is likely to come down soon as inflation eases.
The rate-setting committee voted by a majority of 5–4 to maintain the Bank Rate at its current level, though four members voted to reduce it by 0.25 percentage points, to 3.5%.
The Bank has also cut its outlook for UK economic growth for 2026, from 1.2% to 0.9%, and for 2027, from 1.6% to 1.5%.
The Bank said today that while CPI inflation is currently above the 2% target, it “is expected to fall back to around the target from April, owing to developments in energy prices including from Budget 2025”. The Bank added that labour market, pay growth and services price inflation have continued to ease although “some risks to inflation from weaker demand and a loosening labour market remain”.
The Bank added: “On the basis of the current evidence, Bank Rate is likely to be reduced further. Judgements around further policy easing will become a closer call. The extent and timing of further easing in monetary policy will depend on the evolution of the outlook for inflation.”
Bank of England Governor Andrew Bailey said: “I expect to see quite a sharp drop in inflation over coming months. While I am more confident in the overall path of wage disinflation, it is naturally less clear when and how much the expected upcoming drop in inflation will influence wage settlements. Overall, the risks from inflation persistence appear to have continued to reduce. I therefore see scope for some further easing of policy.”
The MPC last delivered a cut to borrowing costs before Christmas, from 4% to 3.75%. It was the fourth reduction of the year, with Mr Bailey saying that while the UK had “passed the recent peak in inflation and it has continued to fall”, further cuts would be a “closer call”.
Since that decision, official data showed inflation bounced back in December, rising for the first time in five months. The Consumer Prices Index (CPI) inflation rate was 3.4% for the month, up from 3.2% in November, driven up by tobacco duties and airfares.
It’s also being reported today that Britain’s construction sector has shown signs of pulling out of its “tailspin”, though the housebuilding sector remains under pressure. The latest S&P Global UK construction purchasing managers’ index (PMI) showed a reading of 46.4 for January, up from December’s five-and-a-half-year low of 40.1 and the best result since June last year. But the reading remained below the 50 threshold, showing activity in the sector remains in contraction.
Chinese state-owned carmaker Chery is pressing ahead with its rapid UK expansion by launching a fourth brand in the British market, underlining its ambition to become a long-term player in one of Europe’s most competitive automotive landscapes.
The group confirmed it will introduce vehicles under the Lepas brand, a new line focused on battery-electric and hybrid SUVs aimed at younger families. While Lepas is being developed primarily with Europe in mind, the UK will be one of its early launch markets.
The move adds to Chery’s already fast-growing UK portfolio. Since entering Britain, the company has rolled out Omoda in 2024, Jaecoo in early 2025 and its core Chery-branded models last summer. Combined, those brands delivered more than 53,600 UK sales in 2025, giving Chery a 2.7% share of the market and putting it ahead of rivals including BYD, Tesla, Mini, Honda and Mazda.
Lepas vehicles will initially be manufactured in China and imported into the UK. Unlike the US and EU, Britain has not imposed additional tariffs on Chinese-built electric vehicles, making it an attractive entry point for manufacturers looking to scale quickly. However, the UK government is keen for overseas carmakers to move production onshore, and Chery has repeatedly indicated it is open to that possibility.
Jaguar Land Rover, the UK’s largest automotive employer, is understood to be in early-stage discussions about potentially using its factories to produce Chery vehicles, although no agreement has been finalised.
Advertisement
The announcement follows Chery’s recent confirmation that it will open a research and development headquarters for commercial vehicles in Liverpool, further strengthening its UK footprint beyond sales alone.
Chery has been China’s largest car exporter for more than two decades, but historically focused on lower-cost markets in the Middle East, Latin America and parts of Asia. The shift to electric vehicles, combined with heavy state backing and competitive pricing, has allowed Chinese manufacturers to make far deeper inroads into Europe.
In the UK, that momentum is already visible. In January alone, Chery sold nearly 6,100 vehicles, with hybrids accounting for the bulk of demand. Data from thinktank New Automotive shows that hybrid models, which pair smaller batteries with petrol engines, are proving particularly popular with British buyers.
The same data highlights the scale of competitive pressure facing established brands. Tesla’s UK sales fell to just 650 units in January, less than half its total a year earlier, as it continues to grapple with an ageing model range and reputational headwinds. BYD, which overtook Tesla globally in battery-electric sales last year, sold more than twice as many electric vehicles in the UK during the same period.
Advertisement
Chery has yet to commit formally to UK manufacturing, but senior executives have described localisation as a key strategic goal. Victor Zhang, the company’s UK director, said last year that Chery was “actively considering” building a British plant as part of an “in UK, for UK” strategy.
The Lepas brand appears positioned as a mass-market, lifestyle-led offering, with branding that leans into themes of fun and family appeal. That contrasts with Jaecoo, which has drawn attention for its design similarities to premium SUVs at significantly lower price points.
With four brands now lined up for the UK, Chery’s expansion shows no sign of slowing — and signals a broader shift in the balance of power within Britain’s car market.
Jamie Young
Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.
Heather Croft and Vanessa Slater have struck a deal to become the new directors of KES Solutions UK
Heather Croft and Vanessa Slater at KES Solutions UK(Image: KES Solutions UK)
Two recruitment consultants have announced plans to grow their North East business after completing a management buy out. Heather Croft and Vanessa Slater are the new directors of KES Solutions UK after the firm’s founder revealed plans to pursue new opportunities, giving the two consultants the chance to step up.
The firm provides recruitment services to industries including automotive, manufacturing chemicals and petrochemicals, warehousing and logistics, and technical and engineering, with a turnover of £3.7m. Based at Houghton-le-Spring, the company was launched in 2007 and now employs seven people. Founder Kelly Swann offered the opportunity to purchase the business to her two most experienced consultants.
Ms Croft, from Peterlee, said: “When we were given the chance to buy the business from Kelly, we were both so excited, but we also knew it was going to be a big challenge for us as working for a business and running it are very different.
“However, Vanessa and I knew the business inside out and I think Kelly was happy that she was handing it over to people who cared as much about it as she had done. When we told our team there were tears. Everyone was so happy for us and that gave us a real confidence boost that we had done the right thing.”
Advertisement
Ms Slater, from South Shields, said: “Although it was a big decision, ultimately the management buy out was a no brainer for us. We just knew it was the right time, personally and professionally, and the right thing for the team too.
“The biggest challenge we faced was getting our heads round the things that come with running a business, for example the finances, the management, and the business development.
“Heather and I work so well together and over the past few months, we’ve really started to understand everything. We are feeling so positive about what the future holds for KES Solutions UK.
“We’re both ambitious and want to help the business to grow, but in the right way. Not too fast, too soon. It has to be right so that we can deliver what we promise and every client always feels as valued and important as the next.”
Advertisement
Ms Croft, added: “We’ve now formed a firm plan of what we’d like to achieve. Our approach is to make subtle changes and targeting organic growth. The business is well established and we’re very good at what we do so we don’t need to try and fix something that isn’t broken. It’s simply about doing what we do but better if we can.”
Like this story? For more deals news you can visit our dedicated page for the latest news and analysishere.
In a post on X, White House press secretary Karoline Leavitt said Trump and other administration officials will debut the new website at 7 p.m. ET on Thursday.
She said millions of Americans would save money through TrumpRx, but it’s still unclear if all patients – particularly those with insurance coverage – will see more cost savings from using that site to buy their medicines. TrumpRx targets people who are willing to pay with cash and forgo insurance, which suggests that people without or with limited coverage may benefit the most.
The site is not expected to sell drugs directly to American patients, but will act as a central hub that points them to drugmakers that are offering discounts on certain products on their own direct-to-consumer sites. For example, Eli Lilly and Novo Nordisk have offered their blockbuster obesity drugs at hefty discounts to cash-paying patients.
In recent months, both companies and at least 14 other drugmakers have negotiated agreements with the Trump administration to participate on the platform and voluntarily sell certain medicines at a discount to Medicaid patients. Those landmark deals are part of Trump’s broader “most favored nation” policy, which pushes to link U.S. drug prices to the lowest ones abroad.
Advertisement
It is the government’s latest effort to try to rein in U.S. prescription drug prices, which are two to three times higher on average than those in other developed nations – and up to 10 times more than in certain countries, according to the Rand Corp., a public policy think tank.
In an exclusive interview with CNBC last week, Eli Lilly CEO Dave Ricks said the company was the first drugmaker to sell obesity treatments directly to patients, and that TrumpRx is “taking that and expanding it across the industry” to other medicines.
“We’re all for that,” Ricks said.
Questions about savings
Questions remain about how much savings people can expect if they use TrumpRx to buy their medicines.
Advertisement
The announced price reductions for certain drugs are framed as steep cuts from their so-called retail list prices. For example, under Novo Nordisk’s agreement with the administration, its diabetes drug Ozempic will be priced at $350 per month on TrumpRx, which is less than half of its roughly $1,000 monthly list price.
But those list prices are often far higher than what private insurers and government programs ultimately pay for medicines after rebates, discounts and other concessions, according to researchers at Georgetown’s Medicare Policy Initiative. That suggests some payers may already be securing prices comparable to — or lower than — the newly announced discounts on medications under the Trump deals.
The researchers cited one study that found that average discounts on brand-name drugs in Medicare Part D run around 40% of list prices. Meanwhile, discounts in Medicaid exceed 75%, according to a Congressional Budget Office study.
Nike’s Mind platform is one of the brand’s most ambitious innovations yet, blending neuroscience, design and sport psychology into a new category of “sensory footwear.” Here are 10 things you need to know about Nike Mind — and why it matters for the future of performance.
Nike Mind
1. Nike Mind is Nike’s first neuroscience-based footwear platform
Nike Mind is not just another cushioning or performance foam; it is Nike’s first footwear platform explicitly built around neuroscience and how the brain responds to sensory input from the feet. Developed inside the Nike Mind Science Department, a branch of the Nike Sport Research Lab, the project spent about a decade in research and prototyping before its public debut.
Unlike traditional performance shoes that focus on speed, propulsion or impact protection, Nike Mind is designed to change how athletes feel mentally by stimulating specific neural pathways through underfoot contact. Nike describes it as a “new sensory footwear concept that helps reawaken the foot, the body and the mind,” signaling a shift from pure physical performance to mind–body integration.
2. It’s built around 22 anatomically mapped foam nodes
At the heart of Nike Mind technology is a system of 22 foam “nodes” mapped to key regions under the foot. These nodes are attached to a flexible base and function like tiny pistons or gimbals that move independently as you walk, stand or shift your weight.
The idea is to target pressure points and mechanoreceptors on the sole, which are directly linked to sensory regions of the brain. By constantly changing the pattern of underfoot stimulation, the nodes amplify sensation and mimic a more natural, varied interaction with the ground than flat cushioning normally provides.
Advertisement
3. It’s designed for pre-game priming and post-game recovery
Nike Mind shoes are explicitly framed as “pre-game and post-game” tools rather than race-day or in-game performance footwear. Nike says the platform is meant to help athletes prime their nervous systems before competition and then reset or decompress afterward.
During pre-game routines, the sensory stimulation is intended to sharpen focus, heighten awareness and mentally prepare athletes to compete. Post-game, the same technology aims to support recovery by helping the brain and body shift out of high-alert competition mode and into a calmer, more grounded state.
4. Nike Mind 001 and Mind 002 launch the line
The first products to feature the technology are Nike Mind 001 and Nike Mind 002. Mind 001 is described as a slip-on mule with a minimalist, “directionless” design that’s easy to slide into before or after training. Mind 002 takes the same sensory system and wraps it into a more structured sneaker silhouette for everyday movement and more active use.
Both styles share the 22-node underfoot system, but they target slightly different use cases: the mule emphasizes simplicity and transition, while the sneaker emphasizes stability and versatility for walking, light training and daily wear.
Advertisement
5. The goal is to quiet the brain’s “default mode network”
One of the most striking claims behind Nike Mind is neurological: the shoes are designed to help disengage the brain’s default mode network (DMN) and activate the sensorimotor network. The DMN is associated with mind-wandering, ruminating and self-referential thoughts, while the sensorimotor network is linked to movement, touch and present-moment engagement.
Nike’s researchers report that in trials, the underfoot sensory pattern from the foam nodes increased activity in brain regions responsible for processing touch and boosted alpha-wave activity associated with meditative or calm-but-alert states. In practical terms, that translates to feeling more grounded, less distracted and more “in the moment” before or after competition.
6. Nike built a dedicated Mind Science Department
To create Nike Mind, the company formed a specialized Mind Science Department inside its existing Nike Sport Research Lab. This team combines neuroscientists, biomechanists, engineers and designers who study how mechanical inputs at the foot translate into electrical signals in muscles and brain rhythms.
During development, athletes and test subjects were wired to EEGs and other sensors while using Mind prototypes, logging tens of thousands of hours of wear and generating large datasets on how underfoot stimuli shape perception, attention and emotional state. Nike’s Chief Science Officer, Dr. Matthew Nurse, describes the project as an expansion from “studying the body in motion” to studying perception and attention as core elements of performance itself.
Advertisement
7. Top athletes like Erling Haaland tested the shoes
Elite athletes were heavily involved in Nike Mind’s validation. Manchester City striker Erling Haaland is cited as a key tester; he reportedly praised the shoes for helping him “bring balance to my game,” referencing a feeling of improved mental stability and focus.
Across hundreds of trials with professional athletes, healthcare workers and therapists, wearers consistently reported heightened awareness, sharper focus and a sense of being more grounded and in control. Those subjective reports line up with the neuroscientific data showing shifts in sensory networks and meditation-like brain activity when Mind shoes are used properly.
8. Mind is about mental engagement, not max speed
Nike is clear that Mind 001 and Mind 002 are not racing shoes or performance trainers in the traditional sense. Instead, the design brief focuses on mental engagement, flow state and recovery—what Nike calls “holistic performance.”
The footwear is “directionless by design,” which means it’s not optimized for a specific gait pattern or sprinting efficiency but for free movement, shifting weight, micro-adjustments and sensory exploration. The goal is to give athletes and everyday wearers a tool they can use before, between or after high-intensity sessions to re-center mentally, rather than something to shave seconds off a race.
Advertisement
9. The design language is minimal, tactile and “mindful”
Aesthetically, Nike Mind 001 and 002 lean into a clean, futuristic minimalism that underscores their role as sensory tools rather than flashy performance sneakers. The uppers favor simple lines, soft materials and easy entries, while the visible underfoot node structure and flexible base signal the technology underneath.
Materials were chosen for comfort and “consciousness”—soft yet supportive foams, flexible platforms and water-resistant bonding that allow the nodes to move freely in all directions. Every design choice is meant to keep your attention on how the shoe feels, not just how it looks, reinforcing Nike’s pitch that Mind is about reconnecting the wearer with their own body and environment.
10. Nike sees Mind as “chapter one” of brain-focused gear
Nike executives repeatedly describe Mind as just the beginning of a much larger move into brain-centered performance products. Dr. Matthew Nurse has called Mind 001 and 002 “chapter one of the feet,” suggesting that future chapters may target other parts of the body and broader emotional or cognitive states.
The company frames Mind as a “sensory intervention” and hints at expanding neuro-informed design into apparel and accessories that influence how we feel—calm, energized, focused—through touch, pressure, temperature and other stimuli. That vision positions Nike not just as a maker of shoes and clothing, but as an early player in consumer neurotechnology, where what you wear is deliberately engineered to shape your mind as much as your muscles.
Advertisement
In short, Nike Mind is less about running faster and more about feeling more present, focused and resilient—using your feet as a direct doorway into your brain.
| Revenue of $14.97B (1.75% Y/Y) misses by $628.98M
ArcelorMittal S.A. (MT) Q4 2025 Earnings Call February 5, 2026 9:30 AM EST
Company Participants
Daniel Fairclough – Head of Investor Relations & VP of Corporate Finance Aditya Mittal – CEO & Director Genuino Christino – Executive VP & CFO
Advertisement
Conference Call Participants
Alain Gabriel – Morgan Stanley, Research Division Tristan Gresser – BNP Paribas, Research Division Ephrem Ravi – Citigroup Inc., Research Division Cole Hathorn – Jefferies LLC, Research Division Reinhardt van der Walt – BofA Securities, Research Division Bastian Synagowitz – Deutsche Bank AG, Research Division Matthew Greene – Goldman Sachs Group, Inc., Research Division Timna Tanners – Wells Fargo Securities, LLC, Research Division Philip Gibbs – KeyBanc Capital Markets Inc., Research Division Maxime Kogge – ODDO BHF Corporate & Markets, Research Division
Advertisement
Presentation
Daniel Fairclough Head of Investor Relations & VP of Corporate Finance
Good afternoon, everyone. This is Daniel Fairclough from the ArcelorMittal Investor Relations team. Thank you for joining this call to discuss ArcelorMittal’s performance and progress in 2025. Present on today’s call, we have our CEO, Aditya Mittal; and our CFO, Genuino Christino.
Before we begin, I’d like to mention a few housekeeping items. As usual, we will not be going through the results presentation that we published this morning on our website However, I do want to draw your attention to the disclaimers on Slide 26 of that presentation. Following opening remarks from Aditya and Genuino, we will move directly to the Q&A session. [Operator Instructions]
Advertisement
And with that, I will hand over the call to Aditya.
Aditya Mittal CEO & Director
Thanks, Daniel. Welcome, everyone, and thank you for joining today’s call. Before I ask Genuino to walk through our financial performance, I want to start by reflecting on the progress we have made against our 2025 priorities.
Advertisement
When I look back at the year, the achievements are clear and everyone at ArcelorMittal
An alleged attempt to detonate a homemade explosive device at a protest on Australia Day has been declared an act of terror, nine days after the incident took place.
