Housing planned in Pill as part of council’s local plan

Locals in a “small friendly village” in North Somerset fear that plans to build 1,000 homes in the countryside around it will turn it into a suburb of Bristol.

Pill is one of several villages in North Somerset’s greenbelt where huge amounts of new housing are proposed in the council’s local plan. In 2024, the government increased North Somerset Council’s 15-year housebuilding target from 15k homes to 24k and the council says it has to focus on the green belt as other land is at risk of flooding.

Now 2,324 people have signed a petition by Sustainable Pill and Distinct against the number of homes proposed for Pill – although only 815 of them had postcodes within North Somerset. The petition was presented to a full council meeting on February 24 by Pill’s local councillor Jenna Ho Marris (Green), who is also the council’s cabinet member for homes and health.

Ms Ho Marris said: “As a cabinet member, I did vote on this draft plan going through including these proposals but I acknowledge there is still a lot of doubt about whether central government is going to invest in the local infrastructure to support our local plan.”

The local plan is a hugely important document produced by the local council which sets out the area’s planning policies for the next 15 years and allocates areas for where new housing should go. After years of delays, North Somerset Council is set to submit its draft local plan to the planning inspector for government approval this month.

Reading out the text of the petition, Ms Ho Marris said: “The plan for Pill includes recommendations to build 1,000 houses on four areas of greenbelt land around the village. This would increase the number of homes by around 40%, threatening to turn our small friendly village into a fragmented suburb of Bristol and destroy acres of beautiful green space.

“It will also put huge pressure on existing infrastructure, particularly roads. There is definitely a need for more housing, particularly affordable housing, in North Somerset. However in our view the number proposed for Pill is completely out of proportion with the size of the village. We believe that the additional housing should be more fairly shared across North Somerset.”

Ms Ho Marris added: “Recently at a local neighbourhood health event, GPs in the area told me that they are incredibly worried about an extra 1,000 homes in their area.” She said she had spoken to the area’s integrated care board who said there were no plans to increase GP capacity.

The council’s cabinet member for planning and environment Annemieke Waite (Winford, Green) said the petition would be taken into account. She said: “I have been in touch with the planning team about this already and they are considering the content, understand very clearly the local concerns, and that this will be passed to the appointed planning inspection in due course.”

The village recently saw off a threat to close its library, after keeping the council-run library open by making more cuts elsewhere was the most supported option in a public consultation. It is also set to see its train station reopened soon as part of the ongoing restoration of the Portishead Railway.

Foreign institutional investors (FIIs) stepped up selling on Thursday, taking their cumulative outflows in the two trading sessions of March to around Rs 11,000 crore as escalating hostilities in West Asia rattled markets.

According to provisional data from the BSE, FIIs sold equities worth Rs 8,752 crore on Thursday. Domestic institutional investors (DIIs) provided support, buying shares worth Rs 12,068 crore, cushioning part of the fall.

The fresh outflows come after FIIs had briefly turned net buyers in February, infusing Rs 12,590 crore into Indian equities. That reversal had raised hopes of a stabilising trend following heavy withdrawals in recent months. In calendar 2025 so far, foreign investors had already pulled out around Rs 34,000 crore in January, after selling over Rs 1.5 lakh crore in the previous year.

The renewed selling coincides with a sharp deterioration in geopolitical conditions. Equity investors have seen wealth erosion of Rs 16.32 lakh crore in just two trading sessions as tensions between the US, Israel and Iran intensified.

On Wednesday, the BSE Sensex dropped over 1,122 points to close at 79,116. During the session, it had plunged as much as 1,795 points. Since Friday, the index has fallen 2,171 points, or 2.67%, following the onset of hostilities on February 28. Over the same period, the market cap of BSE-listed firms shrank by Rs 16.32 lakh crore.

Markets were shut on Tuesday for Holi, compressing volatility into just two sessions.
Ajit Mishra, SVP Research at Religare Broking, said sentiment remains fragile. “Markets traded with a negative bias on Wednesday, extending their recent corrective trend amid weak global cues and persistent geopolitical concerns. Continued foreign institutional selling and currency volatility further dampened confidence,” he said.A key driver of risk aversion has been the surge in crude oil prices. Brent crude rose 1.63% to $82.73 per barrel, reflecting concerns over supply disruptions through the Strait of Hormuz. Higher oil prices raise inflation risks, pressure the rupee and complicate the interest rate outlook, factors that typically weigh on foreign flows.

Analysts say FIIs are reacting to both global risk aversion and India-specific macro sensitivities to oil. With nearly half of India’s crude imports transiting through the Strait of Hormuz, any prolonged disruption could worsen the current account deficit and fiscal pressures.

From a technical standpoint, Shrikant Chouhan, Head of Equity Research at Kotak Securities, said the near-term outlook remains weak but oversold. He sees 24,300 on the Nifty and 78,500 on the Sensex as crucial support levels. “If the market sustains above this level, the immediate resistance would be at 24,600/79,500. Conversely, a decline below 24,300/78,500 could change the sentiment,” he said, adding that volatility is expected to remain elevated.

For now, domestic institutions have offset part of the foreign selling. But with crude prices elevated and the conflict showing little sign of immediate resolution, the direction of FII flows could remain a decisive factor for market stability in the coming sessions.

Tech giants have backed a pledge from President Donald Trump to pay more for electricity to run resource-hungry AI data centers ahead of its signing on Wednesday.

Google, Microsoft, Meta, Oracle, xAI, OpenAI and Amazon will join Trump at the White House to sign the Ratepayer Protection Pledge, an agreement to ensure expenses for the infrastructure and power delivery for the data centers are not passed on to the public, according to a White House official.

The pledge also commits these companies to hiring and training a workforce from within communities where data centers are built and operated, the official said.

U.S. Secretary of Energy Chris Wright said the pledge will help stop the rising electricity prices that started during the Biden administration, while also “ensuring the United States wins the AI race.”

SCOOP: TRUMP BRINGS BIG TECH TO WHITE HOUSE TO CURB POWER COSTS AMID AI BOOM

“We will continue partnering with technology leaders to strengthen America’s competitive edge, while keeping energy costs low for hardworking families,” Wright said.

Executives from the tech companies that will sign the pledge have largely lauded Trump’s plan, which aims to contribute to lower electricity costs, stronger grid infrastructure and enhanced grid resilience during emergencies.

“We welcome the administration’s leadership on this issue and support the pledge’s commitments, which establish a clear baseline to protect ratepayers while enabling responsible, long-term energy partnerships that strengthen the grid and the communities where data centers operate,” Amazon Web Services CEO Matt Garman said.

Brad Smith, Microsoft vice chair and president, said the pledge “is an important step,” echoing his company’s appreciation of Trump’s leadership “to ensure that data centers don’t contribute to higher electricity prices for consumers.”

FOX NEWS AI NEWSLETTER: TRUMP FORCES BIG TECH TO PAY FOR AI POWER

Dina Powell McCormick, Meta president and vice chair, noted the importance of the pledge during what she called the “biggest infrastructure boom since World War II.”

“The pledge gives companies like Meta the certainty we need to keep up the momentum, ensuring that American AI dominance and the prosperity of American families go hand-in-hand,” she said.

Ruth Porat, president and chief investment officer at Alphabet and Google, said the pledge will “accelerate breakthroughs to secure America’s energy future” as it remains committed to protecting energy affordability for American households.

Brad Lightcap, Open AI chief operating officer, said infrastructure and energy upgrades are “vital for America’s economic competitiveness.”

Ticker	Security	Last	Change	Change %
GOOGL	ALPHABET INC.	303.58	-2.94	-0.96%
META	META PLATFORMS INC.	655.08	+1.52	+0.23%
AMZN	AMAZON.COM INC.	208.73	+0.34	+0.16%
MSFT	MICROSOFT CORP.	403.93	+5.38	+1.35%

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“As demand for AI continues to grow, we believe the infrastructure that enables AI should benefit the communities that make it possible, and that’s why we’re proud to support the White House’s Ratepayer Protection Pledge,” Lightcap said.

Fox News’ Jacqui Heinrich contributed to this report.

Rigga Repairs’ founder spent more than 20 years working for some of the biggest luxury watch brands in the world

A Gateshead watchmaker hopes to create a world-class workshop after tapping into five-figure investment to help his start-up grow. Richard Rigg is giving some of the most luxurious timepieces in existence a new lease of life through Rigga Repairs Ltd – the business he launched 18 months ago after spending his entire career working for the biggest brands in the industry, including Rolex, Cartier, Breitling, TAG Heuer, OMEGA, Tissot and Longines.

Watchmaking has always been a family business, and Mr Rigg says he draws inspiration from his brother, who is head watchmaker at a world famous watch brand. While his brother splits time between London and Geneva, Mr Rigg has stayed in the North East and spent over 20 years working with industry leading brands.

In early 2024, he channelled his expertise into establishing Rigga Repairs Ltd, and he is now putting expansion plans into action with a five-figure sum from the Start Up Loans programme and Business Enterprise Fund (BEF) North East. The British Business Bank’s Start Up Loans programme is delivered in the North East by BEF.

He is now on the hunt for new premises and says the right location could let him design a world-class workshop. He says a workshop could be built to the same specifications used by Geneva’s master watchmakers, right here in the North East.

He said: “When I started the business, I left it open to everything. I was free to work on any brand. For people who otherwise can’t afford to get their watch serviced. They’d just put it in a drawer or lock it in a safe. They’re not wearing it or enjoying it. That’s where I come in. Because I can do it on average for about half the cost of having it done at retail.

“The support in the North East is phenomenal for people starting their own business. But I was mainly relying on my network of watchmakers I’ve known since I was a child. Not much of the support I got was financial, until I met BEF.”

After 18 months, he realised he needed to invest in his business. On any given morning, he might suddenly need to order a component worth hundreds of pounds, so further working capital was needed.

He said: “I found it quite seamless, and I recommend it to anyone who’s starting up their own business but hasn’t looked at finance.”

Shannon Donaghy, associate investment manager at BEF North East, added: “Richard is running an incredibly intricate business. We were able to provide the working capital he needed to continue operating with absolute confidence.

“It has been highly rewarding to work with Rigga Repairs Ltd and secure this loan. Richard is one of the region’s true craftsmen.”

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Iceland supermarket ends decade-long trademark battle with Iceland and offers ‘rapprochement discount’

The UK supermarket chain Iceland has formally ended its decade-long legal battle with the Nordic nation of the same name, drawing a line under one of Europe’s most unusual trademark disputes and promising a goodwill gesture to Icelandic consumers.

The frozen food retailer confirmed it would abandon further legal action after suffering its third defeat in European courts last year. Instead of continuing the costly dispute, the company plans to use funds earmarked for further litigation to offer what it has described as a “rapprochement discount” to shoppers in Iceland.

Richard Walker, the executive chair of the supermarket group, said the decision marked a pragmatic end to a legal fight that had stretched for nearly a decade and consumed significant time and resources.

Speaking to the Financial Times, Walker said the company would redirect the money that would have been spent on another legal appeal toward offering shopping vouchers to Icelandic consumers, which they could use in the retailer’s stores.

“We lost for a third time. We’re going to throw in the towel,” Walker said. “It’s actually fine, we don’t have to change our name.”

He added that the legal costs for another round in the European courts would have amounted to a couple of hundred thousand pounds, money the company now intends to spend on the goodwill initiative instead.

The legal conflict began in 2016, when the government of Iceland launched proceedings against the British supermarket chain over its EU-wide trademark registration for the word “Iceland.”

The country argued that the supermarket’s ownership of the trademark prevented Icelandic companies from properly promoting products abroad under the country’s name, potentially limiting exports and international branding opportunities.

Officials in Reykjavík contended that geographical names should remain available for public use and not be monopolised by private companies for commercial purposes.

The dispute quickly became a high-profile case in European intellectual property law, raising broader questions about the use of place names as trademarks and the rights of countries to promote their own national identity in international markets.

In July 2025, the EU General Court ruled against the supermarket chain and upheld an earlier decision to cancel its EU trademark for the word “Iceland”.

The court concluded that geographical names should remain accessible to businesses and organisations linked to that location and cannot normally be reserved exclusively by a single company.

The judgment effectively stripped the British retailer of its exclusive EU trademark rights, although the ruling did not require the supermarket to change its name.

Walker acknowledged that the legal defeat raised a new concern for the company — the possibility that competitors could attempt to use the name in the future.

“Other people now have the ability to open shops and call it Iceland and stock Iceland products,” he said.

Despite that risk, the retailer has decided not to pursue further appeals, bringing the long-running dispute to a close.

As part of its effort to move beyond the dispute, Iceland’s management plans to introduce a special discount scheme aimed at Icelandic consumers.

The proposed initiative is expected to involve shopping vouchers that residents of Iceland can use at the retailer’s stores, symbolising a more cooperative relationship between the brand and the country.

The company has not yet confirmed when the vouchers will be available or how they will be distributed, but executives say the gesture is intended to mark the end of hostilities and encourage goodwill.

The move also reflects the retailer’s desire to avoid further reputational damage from a legal fight that has attracted widespread international attention.

The decision to end the dispute comes during a period of leadership transition at the supermarket group.

Richard Walker took over as executive chair in 2023, succeeding his father Malcolm Walker, who co-founded Iceland in 1970 and led the company for more than five decades.

The younger Walker has increasingly positioned himself as a public advocate on economic and social issues in Britain. Earlier this year he was appointed the UK government’s cost of living champion and was also made a Labour peer by Prime Minister Keir Starmer.

Before that appointment he had previously been known as a supporter of the Conservative Party.

The Iceland supermarket chain began as a single frozen-food store in Oswestry, Shropshire, specialising in loose frozen products.

Over the decades it expanded rapidly to become one of Britain’s best-known budget grocery brands.

Today the business operates more than 900 company-owned stores across the UK, trading under the Iceland and The Food Warehouse brands.

The company also operates franchised stores internationally, including locations in the Channel Islands, Spain and Portugal.

Beyond its supermarket operations, the group owns the restaurant business Individual Restaurants, which operates brands including Piccolino and Restaurant Bar & Grill.

Iceland spent several decades listed on the London Stock Exchange after its flotation in 1984.

During that period the company rebranded as The Big Food Group, expanding into multiple food retail formats.

However, in 2012 the company returned to private ownership following a £1.45 billion management buyout led by Malcolm Walker and South African investment firm Brait.

Walker and long-time chief executive Tarsem Dhaliwal subsequently bought out Brait’s stake in 2020, restoring full control of the business to its management team.

Dhaliwal himself has been closely associated with Iceland’s growth, having joined the company in 1985 as a trainee accountant before rising to become chief executive.

By abandoning the trademark dispute, Iceland’s leadership hopes to draw a definitive line under a legal battle that has lasted almost a decade and attracted attention across Europe.

For the supermarket chain, the decision represents a pragmatic recognition that the legal fight had run its course, and that repairing relations with Iceland may ultimately be more valuable than continuing a costly courtroom battle.

The planned “rapprochement discount” for Icelandic shoppers now stands as a symbolic gesture aimed at turning a long-running dispute into a moment of reconciliation between the British retailer and the Nordic country whose name it shares.

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