The University of South Wales said almost 100 applications have been accepted as part of the voluntary redundancy programme announced earlier this year
Abbie Wightwick Education Editor
17:21, 10 Jul 2026Updated 17:28, 10 Jul 2026
University of South Wales, Treforest Campus, Pontypridd(Image: Western Mail)
Staff at the University of South Wales are threatening strike action as jobs go. Campus union Unison said staff are burned out and cannot provide the service they should to students.
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The University of South Wales (USW) announced 200 redundancies earlier this year and jobs are beginning to be shed as well as vacancies left unfilled. The union’s strike warning comes as universities across Wales face a combined £97m financial black hole.
Unison said USW has already shed more than one in 10 business and professional support staff roles in two years.
Remaining workers are “burned out” and won’t be able to provide students a proper service if more jobs go, the union claimed.
Unison said the cuts affect lower-paid workers and “the university wants to create new management roles, including one which will pay an annual salary of more than £100,000”.
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Unison branch secretary Dan Beard said: “Staff cannot provide the same level of excellence to students with 10% fewer workers.
“The employees who remain will face impossible workloads. Some already report working 50 hours a week.
“It’s insulting for the university to tell staff more cuts are needed when senior managers won’t be affected. No wonder they’re asking for a ballot on industrial action.
“The university is stuck in a doom loop of cuts and must rethink its plans or risk strike action.”
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A USW spokesman said to date almost 100 applications have been accepted as part of the voluntary redundancy programme announced earlier this year.
They said “non-essential vacancies are being removed” as well as part of the cuts.
The spokesman added: “We announced in March that we were seeking to reduce our workforce by approximately 200 roles in response to ongoing external challenges. The first step of this was a voluntary redundancy programme.
“We have also been looking for further ways to reduce our workforce such as the removal of all non-essential vacancies and service redesign.
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“A consultation with some of our professional services areas and business school, and recognised trade unions, is now under way on proposals, which may regrettably include redundancies.”
Universities across Wales are under financial pressure with hundreds of jobs lost and degree courses cut in the last few years. The institutions have a combined £97m operating deficit with matters likely to get worse before they get better and more job cuts likely.
The financial blackhole in 2024-25 swelled by £20m compared to the £77m deficit in 2023-24 although some of the increase is down to one-off costs of redundancies as part of savings programmes to try to balance books, university financial reports show. The 2025-26 figures won’t be out until later this calendar year or early next year.
University bosses across Wales and the UK say they have been hit by a perfect storm of financial problems from falling numbers of higher-paying international students to largely static home tuition fees, increased costs, and diminished income. Debate is mounting over the value of university degrees amid concern over escalating interest rates for student loans and lack of graduate jobs.
Not all vessels are deterred from passing through because the Houthi threat is only targeted at Saudi shipping, with the total number sitting at about 50% of pre-attack levels.
But the number of ships loading crude oil for export to Asia passing through has dropped to about four per day, Kpler added, the lowest point since the start of the war.
A spokesperson for Hapag-Lloyd, the global shipping giant, said some of its vessels were still passing through the Red Sea but that it would “monitor developments closely and will adjust the network if circumstances change”.
“If the Strait of Hormuz reopened, most ships could probably leave the region fairly quickly. However, restoring normal cargo flows would take much longer.
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“Services have been suspended and ships redeployed elsewhere, so a return to normal flows would most likely take three to four months.”
Despite the talks with Oman, Iran has said that no deal is imminent that would reopen the strait to normal traffic.
Its foreign ministry ministry spokesman Esmaeil Baqaei said any agreement would not lift the current restrictions while US “aggression” continued.
Peter Sand, chief analyst at Xeneta, another ship-tracking company, said the fighting had taken the shipping industry “back to to square one” and that things were in “a terrible state, regardless of which shipping type you’re you’re looking at”.
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“The alternatives for getting cargo, whether that’s hydrocarbons or container shipping, are really not great… it is really still troubling times with no clarity and no change of fortunes within sight.”
Chip Motors plans to produce a four- or six-seat low-speed vehicle, which it is calling a “life utility vehicle, named Chip.
Courtesy image
The next big idea in the U.S. automotive industry may be small.
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A growing number of companies, including auto giant Stellantis, are betting Americans are ready to embrace smaller, less expensive vehicles amid yearslong affordability concerns for the U.S. auto industry.
But the vehicles aren’t technically “cars.” They’re electric low-speed vehicles, or LSVs, that are essentially a step above a traditional golf cart but below a typical light-duty car or truck sold in the U.S.
“We have seen the popularity of many different form factors of electric, small low-speed vehicles continuing to grow,” Keith Simon, CEO and cofounder of Waev, which owns several LSV brands such as ex-Polaris brand GEM, told CNBC. “I think it’s evident by the number of new entrants across many different vehicle types. There’s a lot of new players. … It’s been growing significantly.”
Attention on such vehicles has been magnified during the past year by President Donald Trump. He has discussed opening U.S. roadways and regulations to better allow for smaller vehicles, including LSVs from Europe and Japan’s “Kei cars,” on U.S. roadways.
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“I’m giving all American car companies the right to build what are known as tiny little tiny cars,” Trump said during a speech last week at General Motors’ Milford Proving Grounds in Michigan. “I go over to Europe and I see these little cars all over the place and I say, ‘Why aren’t we making them?’”
Small cars have historically not performed well in the U.S., but those involved with LSVs believe they could be a growth market for Americans who want an affordable, easy-to-drive vehicle for short distances. They also can typically be charged overnight with a traditional household outlet compared with typical, more expensive EVs that need special chargers that can cost thousands of dollars.
Waev’s lineup of GEM low-speed vehicles, starting at
Courtesy image
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Reliable data on the U.S. LSV market is limited since of the vehicles don’t need to be registered, but they’re part of a larger “micromobility” segment, which consulting firm McKinsey & Company last year estimated could more than double in size globally by 2030.
“The global micromobility market is on the upswing. McKinsey estimates that the market was worth about $160 billion in 2022; by 2030, it’s estimated to reach $340 billion,” according to its McKinsey’s Center for Future Mobility. That includes North America’s market growing from $20 billion in 2022 to $35 billion by 2030.
For U.S. consumers, companies such as Stellantis’ Fiat, Waev and startup Chip Motors are focusing on electric streel-legal LSVs, many of which are starting around $15,000, a fraction of the nearly $50,000 average price tag for a new traditional car or truck.
Tiny cars, tiny market
LSVs vary in form and can be heavily customized, including the number of seats, electric range and available features, such as optional doors. They’re typically used for short distances, often for people living in closed community settings such as retirement homes or condominium complexes. Their main competition has traditionally been golf carts, not small cars.
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“The use case for these kind of vehicles has become more interesting as people have evolved their lifestyles, and a vehicle like this fits into their lifestyles,” Simon said.
The market is loosely regulated compared to the light-duty vehicle market that dominates the U.S.. but the vehicles must not go faster than 25 mph and have to be equipped with standard safety features such as headlamps, turn signals, mirrors and a windshield that conforms to the federal motor vehicle safety standard. They’re not required to have airbags and they’re allowed on roadways with speed limits of up to 35 mph.
Stellantis plans to offer the Fiat Topolino, an all-electric quadricycle vehicle, in the U.S.
Stellantis
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“The market demand is here now and you don’t need nearly as much capital to bring a LSV to market,” said Jameson Detweiler, CEO of Chip Motors, which last month revealed a new LSV that’s expected to go into production early next year. “What we’ve seen in the market … is just incredible latent demand.”
Detweiler estimates the street-legal LSV market to currently be in the hundreds of thousands of units in annual sales, but below 500,000. He believes as more companies such as his enter the market, the more awareness and sales will grow.
But for now, they’re small vehicles for a tiny part of the U.S. market, according to Stephanie Brinley, principal automotive analyst at Mobility Global.
“They’re less expensive than a normal car, but they’re not expected to be a normal car, and and people buy them as recreational vehicles,” she said. “There’s great uses for them, but these are not part of of a day-to-day work-life commute for most people.”
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New entrants
Detweiler’s company describes its vehicles as a “life utility vehicle,” named Chip. It looks like a beefed-up golf cart with a smiley, digital interactive face. The four-passenger vehicle is expected to start at $15,000 for an entry-level model, and it can also come in a six-seat model.
Detweiler plans to grow Chip to eventually be capable of self-driving technologies. In the meantime, he said the privately funded company expects it to be used more as a second vehicle, with plans to offer a service in which Chip employees can virtually remote into the vehicle to assist with driving and parking, he said.
The Chip “life utility vehicle” positioned between two Ford F-150 pickup trucks.
Courtesy image
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“I really value and like the idea of when the future seems fun and promising,” said Detweiler, a Florida native, wearing a Timon and Pumbaa shirt from Disney’s “Lion King.” “A lot of technology is probably headed more ‘Blade Runner.’ We want to head more ‘Jetsons’ era.”
The company expects to begin sales in Miami, which officials say is a popular market for such vehicles.
The Florida coastal city also is where Stellantis’ Fiat brand is first offering its Topolino vehicle, which also starts around $15,000 and features the styling of the Italian brand’s iconic 500 city car.
The Topolino, which translates to “little mouse” in Italian, is actually a quadricycle. It has grown in popularity in Europe and the company is starting to sell it in limited numbers in the U.S.
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Fiat CEO Olivier Francois is using the vehicle as a test bed to potentially refocus the famed Italian brand, which has struggled for years in the U.S., to focus on micromobility rather than traditional cars.
“I want Fiat to become the brand of micromobility within Stellantis,” Francois told CNBC. “I want to use America to test and learn. And, hey, if along the way I do some good volumes and good business, it doesn’t hurt.”
2026 Fiat Topolino Dolce Vita.
Courtesy Fiat
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The brand re-entered the U.S. market in 2011 after a nearly 30-year absence with its small Fiat 500, but it never become a mass market success like it is in Europe.
In the brand’s first full year in the U.S. in 2012, Fiat sold 43,772 vehicles domestically. Those sales dwindled to roughly 1,300 Fiat vehicles sold last year in the U.S., with its only vehicle being an all-electric version of the Fiat 500.
Francois admits while the 500 EV, starting at $35,700, may be too expensive and too small for many Americans, he remains optimistic about the Topolino testing micromobility in the U.S.
“While everyone is explaining to me that small is a limit in the U.S., I think that now we go so small that it’s going to become exciting. We will see the reaction,” he told CNBC. “The fun thing with Topolino is we double down on small.”
Unions at Santander and TSB have opened negotiations over how staff in duplicate roles will be assessed for redundancy, following the completion of Santander’s acquisition of TSB from Spanish owner Sabadell.
The deal, agreed at £2.65 billion, completed on 30 April, according to Santander UK’s announcement of the completed cash acquisition. The combined group employs about 23,000 people and is targeting £400 million in cost savings.
Santander has not confirmed how many jobs will go across the enlarged business. TSB has already announced 130 redundancies ahead of the formal transfer of staff under the Transfer of Undertakings (Protection of Employment) regulations, and further cuts are expected as the group pursues its savings target.
The two banks use different metrics for assessing staff performance. It is understood that unions at both are in talks about how to create a single system for evaluating individuals in the redundancy process.
One source said: “It goes without saying that in any merger there are going to be synergies that the banks will realise. And there is going to be an impact on jobs.
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“There will be duplication of roles. I’m sure every role will be evaluated, wherever there are people doing similar roles.”
A spokeswoman for Santander said: “We have not yet made operational decisions on jobs [as part of the integration]. However, we will ensure that our colleagues are informed of any changes at the appropriate time.”
A spokesman for TSB said: “Whenever we make any changes to our business, the priority is to consult first with impacted colleagues to ensure they’re fully supported.”
Under government guidance on business transfers and TUPE, employees’ jobs, terms and conditions and continuity of employment usually transfer to the new owner, with redundancy among the exceptions. The regulations apply regardless of the size of the business.
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Speaking to Bloomberg last year, José García Cantera, chief financial officer of Banco Santander, said cost savings would “come from projects that TSB is currently running that we will not need to do when the two banks merge”.
He said: “Yes, we think there will be savings; yes, we think these savings will offer us better products at lower cost to the customers; but not all of these costs [savings] will come from job cuts or branch closures.”
Sources said staff at Santander were broadly relieved at the merger with TSB, after news reports had at one stage suggested the bank’s Spanish owner might seek to exit the UK market entirely. It is understood some TSB staff have started looking for new jobs in anticipation of cuts.
The redundancy talks follow a separate dispute over working patterns. TSB told its workforce of about 5,000 that they will be required to work in an office three days a week from April 2027, and the TBU union is preparing to take cases to the Employment Tribunal over members it says cannot change their arrangements for personal or medical reasons. TSB did not previously have a formal office attendance requirement.
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Santander has also confirmed it will retire the TSB brand and fold the lender into its UK arm, ending a name that dates to a Dumfriesshire parish savings scheme founded in 1810. TSB operates around 175 branches and has roughly five million customer accounts.
Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.
Shares of Zee Entertainment Enterprises (ZEEL) fell over 12% to Rs 101.50 on the BSE on Monday after Sebi’s final order in the unauthorised pledge of immovable property case. The regulator imposed a Rs 30 lakh fine and barred the company from accessing the securities market for two months.
Sebi on Friday barred ZEEL founder Subhash Chandra and CEO Punit Goenka from the securities market for one year each and imposed a total penalty of Rs 1.48 crore over the unauthorised pledge of the company’s Hyderabad land to secure loans for promoter-linked Essel Group entities.
Sebi said its investigation was triggered after ZEEL’s statutory auditor, Deloitte Haskins & Sells LLP, reported in its FY19 audit that the title deeds of certain immovable properties were missing.
The regulator said the original title deeds of ZEEL’s Hyderabad land were deposited with Indiabulls Housing Finance on December 27, 2018, to create a first-ranking mortgage securing loans availed by four Essel Group companies. The entities had together borrowed Rs 726 crore, while Essel Home acted as the co-borrower.
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According to the company’s statement released on the BSE, it is currently evaluating the Sebi order in consultation with legal advisors.
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In a separate development, ZEEL shareholders approved a Rs 3,144 crore fundraise through convertible warrants to the promoter group at Friday’s EGM. The resolution secured 76.64% of votes, exceeding the 75% approval threshold required by law. However, the Sebi curbs on capital-markets access for the promoters and the company could introduce regulatory ambiguity around ZEEL’s plans to issue fully convertible warrants to an entity within the promoter group, according to Ashish K Singh, managing partner, Capstone Legal. He further added that in the absence of a Sebi directive on the preferential warrant issue, the outcome of the EGM would stand. ZEEL and the borrowing entities i.e. Subhash Chandra and Punit Goenka were alleged to be related-parties, as per the final order by Sebi. However, ZEE’s financial statements revealed that the borrowing entities were not disclosed as related parties, and the use of the Hyderabad land for securing their loans was not disclosed as a related-party transaction.
Sebi had alleged that the borrowing entities were ultimately controlled by Subhash Chandra, Punit Goenka and their family members through multiple layers of shareholding, making the transaction a related party transaction under accounting standards. Also Read | Sebi bans Zee’s Subhash Chandra, Punit Goenka from markets for a year
According to the final order by Sebi, Chandra signed the declaration and acknowledgement on behalf of ZEEL, stating all necessary corporate approvals had been obtained before creating the mortgage. However, the investigation did not find any prior approval of the Audit Committee, the Board of Directors or the shareholders of ZEEL for the creation of security over the Hyderabad land.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Manuka honey, produced by bees foraging on the nectar of the Leptospermum scoparium plant native to New Zealand and parts of Australia, continues to attract scientific interest for its distinctive bioactive profile. Unlike conventional honeys that rely primarily on hydrogen peroxide for antimicrobial effects, Manuka honey contains high levels of methylglyoxal, or MGO, a stable compound that drives much of its non-peroxide antibacterial activity. Ratings such as Unique Manuka Factor, or UMF, and MGO content help consumers identify potency, with higher numbers generally indicating stronger antimicrobial capacity.
Research accumulated through 2025 and into 2026 supports several potential benefits when the honey is consumed or applied topically in medical-grade form. Experts emphasize that results depend on quality, dosage and individual health status, and that Manuka honey is not a substitute for conventional medical treatment.
One of the most firmly established benefits is its broad-spectrum antibacterial activity. Laboratory and clinical work has shown effectiveness against a range of bacteria, including some antibiotic-resistant strains. The combination of high sugar content, low pH and MGO creates an environment hostile to microbial growth. Nutritionist Lucy Miller has noted that research suggests it can inhibit antibiotic-resistant bacteria, including MRSA, through this multi-factor mechanism.
Wound healing represents another area with comparatively strong clinical support. A 2025 study on non-healing venous leg ulcers found that topical Manuka honey led to complete healing in all patients within seven weeks, faster than a comparator antimicrobial dressing group that required up to 14 weeks. Medical-grade formulations have demonstrated reduced bacterial load, promotion of granulation tissue and improved comfort in diabetic foot ulcers, pressure injuries and certain postoperative wounds. GP and functional medicine specialist Dr. Nirusha Kumaran stated that medical-grade Manuka honey has been shown to reduce bacterial load, support tissue regeneration and, in some cases, accelerate healing compared with conventional dressings.
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Cochrane reviews have previously indicated that honey dressings can shorten healing times for mild burns and some surgical wounds relative to traditional options, though researchers consistently call for larger trials. The honey’s ability to maintain a moist wound environment, lower local pH and provide osmotic effects contributes to these outcomes.
Anti-inflammatory properties have been documented in both cellular and animal models. Manuka honey can modulate cytokine expression and support a shift from pro-inflammatory to resolving phases of healing. In one experimental study on acute wounds, treatment was associated with lower levels of the pro-inflammatory marker IL-1β and higher levels of the anti-inflammatory IL-10 by day 10, alongside improved histological repair.
Oral health benefits form a further category of interest. Studies have suggested that Manuka honey may help reduce plaque accumulation and clinical signs of gingivitis. Its antibacterial action against oral pathogens offers a plausible mechanism, though it is typically used as a complementary measure rather than a replacement for standard dental hygiene.
Sore throat and upper respiratory comfort are commonly cited traditional uses that align with the honey’s demulcent and antimicrobial qualities. The viscous texture coats mucous membranes while bioactive compounds may help limit bacterial or inflammatory irritation. Evidence here is more limited than for wound care but remains consistent with broader honey research on cough and throat symptoms.
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Antioxidant capacity is another attributed benefit. Manuka honey contains phenolic compounds, flavonoids and other molecules that can neutralize free radicals and support cellular defenses against oxidative stress. These properties underpin investigations into its potential role in supporting overall resilience and recovery.
Emerging research has explored prebiotic-like effects. Certain indigestible carbohydrates in honey can promote the growth of beneficial gut bacteria. One 2026 study examining Manuka honey in probiotic milk and yoghurt formulations found enhanced growth of Bifidobacterium bifidum and reduced viability of E. coli during storage, suggesting possible supportive roles in fermented products and digestive environments.
Preliminary laboratory and animal data have also examined anti-cancer potential. A UCLA-led preclinical study reported that Manuka honey reduced tumor growth by 84 percent in mice with estrogen-receptor-positive breast cancer cells without major effects on normal cells. Researchers observed downregulation of signaling pathways involved in cell growth and survival, along with induction of apoptosis. A separate 2025 review highlighted multi-targeted effects in various cancer models, though clinical translation remains distant and requires far more rigorous human trials.
Skin applications beyond wounds include management of conditions such as acne, eczema and dermatitis. The honey’s antibacterial, moisturizing and anti-inflammatory characteristics may help calm irritated skin and limit bacterial contributions to breakouts. Medical-grade products are preferred for such uses to ensure sterility and consistent activity.
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Digestive support, including potential benefits for certain ulcers or gastrointestinal discomfort, has been suggested in smaller studies and traditional use. The combination of antimicrobial action and coating effects may offer relief in specific contexts, though evidence is less robust than for topical wound care.
Quality remains critical. Experts advise selecting products with verified UMF or MGO ratings, typically UMF 10+ or MGO 250 and above for meaningful antibacterial activity. Consumer-grade honey is not equivalent to sterilized medical-grade preparations used in clinical settings. Infants under 12 months should never consume honey of any type because of the risk of botulism.
While enthusiasm for Manuka honey is high, researchers caution that many studies remain small or preclinical. The strongest data support topical use in wound management. For internal consumption, benefits appear supportive rather than transformative, and individuals with diabetes or other conditions should consider the sugar content and consult clinicians. As investigations continue into mechanisms, optimal dosing and specific applications, Manuka honey occupies a distinctive place among natural products with measurable bioactive effects.
President Donald Trump’s War Department is supercharging missile-defense production, signing framework agreements with Lockheed Martin and Northrop Grumman to expand production capacity for components used in two defense systems.
The deals aim to quadruple output of Terminal High Altitude Area Defense (THAAD) interceptor structural components and support a threefold increase in Patriot Advanced Capability-3 (PAC-3) production, according to a War Department release Monday.
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“Building the Arsenal of Freedom requires robust, dynamic supply chains at every level of the industrial base,” Michael Duffey, undersecretary for acquisition and sustainment, wrote in a statement. “Framework agreements with munition components suppliers like Northrop Grumman are vital to accelerating the tripling of PAC-3 and quadrupling of THAAD interceptor production.”
This image from Lockheed Martin’s media kit showcases a rendering of a THAAD missile defense system. (Lockheed Martin)
The department said the agreements would give suppliers longer-term demand commitments needed to invest in tooling, facility upgrades and workforce development.
Financial terms and production timelines were not included in the War Department announcement, but Northrop Grumman said it entered into agreements worth a combined $3 billion. The deals include a $2 billion agreement to supply rocket motors and safety devices and a $1 billion agreement to increase deliveries of THAAD components.
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“Our long-term investments in breakthrough manufacturing technologies and resilient supply chains let us pivot from steady production to a production surge in record time,” Northrop Grumman Vice President Ben Davies wrote in a statement. “As one of America’s leading producers of solid rocket motors, we’re supporting the administration’s push to accelerate munitions output.”
“It’s a mission-critical leap forward that ensures America’s defense edge stays sharper, faster, and farther ahead of global threats,” Davies continued.
Northrop said it plans to raise PAC-3 solid rocket motor production at its Allegany Ballistics Laboratory in West Virginia, where the company has doubled tactical motor capacity since 2021 and expects to triple production capability by 2027. It will support U.S. Army plans to increase annual PAC-3 MSE missile production from about 600 units to thousands for U.S. forces and allied countries.
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The deal establishes a second source for solid rocket motors and increases production of ignition safety devices. The Pentagon said adding another rocket-motor supplier would increase competition and reduce supply-chain risks.
Northrop is also doubling solid rocket motor capacity at its Utah facilities and increasing capacity by 25% at its Elkton, Maryland, plant.
Michael Duffey, U.S. undersecretary of Defense for Acquisition and Sustainment, and NATO Secretary-General Mark Rutte, talked missile defense at the NATO Summit Defense Industry Forum (NSDIF) in Ankara, Turkey, on July 7, 2026. (Kerem Uzel/Bloomberg)
Under the THAAD agreement, Northrop will increase monthly deliveries of structural components, including interceptor shell cores, aft bulkheads and heat-shield assemblies. The company has supplied components for the missile-defense system since 2002.
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Northrop said it has invested more than $2 billion in munitions-related technologies and facilities since 2019, including more than $1 billion for solid rocket motor production.
Lockheed announced a seven-year contract modification for up to $53.86 billion for PAC-3s. The award brings the total multiyear contract value to $58.62 billion, following the $4.7 billion UCA awarded in April for year one.
The agreements were developed with the Munitions Acceleration Council, the Economic Defense Unit, the Missile Defense Agency and the Office of the Under Secretary for Acquisition and Sustainment, the War Department said.
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