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what Burnham’s move means for SMEs

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what Burnham's move means for SMEs

Andy Burnham chose Manchester for the defining image of his new premiership this week, opening a temporary “No10 North” and telling staff it might be “the best day of my life”.

For the small and medium-sized firms that make up the bulk of the northern economy, the sharper question is what a prime minister based part of the week outside London actually changes, and when.

On timing, the honest answer is: not soon. Construction has not started on the five-acre former retail park earmarked as the permanent base, and the Treasury only approved the outline case for the Manchester civil service campus in March. The 900,000 square foot site, intended to house around 8,800 civil servants, is not targeted to open until 2032, three years after the latest possible date for the next general election.

In the meantime, Mr Burnham is working from Heron House, an existing government building in the city centre that is also used by GCHQ and, as it happens, hosts a pub. Security has been stepped up sharply and workers have been sprucing up nearby Albert Square.

He was unrepentant about the cost, having flown in by government jet from the Commonwealth Games opening in Scotland. “What does it cost for everybody to troop down to London every time there’s a meeting when you need to make an argument about something?” he said.

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Downing Street insists there is no extra bill for taxpayers. “The running of No10 North will be covered by existing Cabinet Office budgets. There is no additional cost to taxpayers,” a spokesman said, adding that staff are “already working in the new No10 North”. Experts are less sure, warning that fortifying an office for the PM and providing round-the-clock armed police will not come cheap.

Why it matters for business owners

Strip away the symbolism and there is a real prize for regional firms. A civil service campus of that scale, part of the government’s Places for Growth programme, means construction contracts, supply-chain work and a concentration of Whitehall decision-makers on northern doorsteps rather than 200 miles away. For firms that have spent years travelling south to be heard, proximity has a value.

The bigger shift is political. Mr Burnham is using No10 North as a symbol of his drive to move power out of Westminster, an agenda that runs alongside the fiscal devolution the Treasury has called its “unfinished business”. If decisions on skills, transport and local taxation move closer to businesses, the firms that engage early with their mayoral authorities stand to gain most.

The risk is uneven benefit. Analysts have warned that Mr Burnham could preside over a two-tier England in which a firm’s prospects depend on whether it sits inside a mayor’s boundary. That echoes a wider pattern in which regional SMEs already miss out on the support and networks their London peers take for granted.

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Mr Burnham framed the project in personal terms, recalling leaving the city as a graduate who “couldn’t find a job”. His contention that “opportunity has not been evenly spread around the country” is borne out by ONS data on regional productivity, which shows London still far ahead of every other part of the UK. No10 North, he said, was about “putting power in every postcode so that people can turn things around for themselves and make changes just as this great city has done”.

The government points out it already has around 80,000 civil servants in the North West, “with around 700 roles moved from London to Manchester last year”. For SME owners, the test is not the ribbon-cutting but whether devolved power and public spending reach their postcode before 2032.


Amy Ingham

Amy Ingham

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.

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TXO Partners: Looking Great Ahead Of Q2 Earnings

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SM Energy: Don't Believe The Fear, Buy The Upside Instead

TXO Partners: Looking Great Ahead Of Q2 Earnings

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Americans save more than $700M on prescription medications through TrumpRx, White House says

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TrumpRx expands with 2 new drug makers offering prescription discounts

New White House data obtained by FOX Business shows that Americans have saved more than $700 million on prescription medications using TrumpRx.gov and most-favored-nation pricing.

More than 800 brand-name and generic medications from the 17 largest pharmaceutical companies can be found on the website with transparent pricing.

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Praluent, a powerful cholesterol medication, will be added to TrumpRx.gov on Friday. The drug helps reduce the risk of stroke and heart attack for patients.

US SHOULDERS DISPROPORTIONATE COST OF NEW MEDICATIONS, REPORT FINDS

The medication was jointly developed by Regeneron Pharmaceuticals and Sanofi. Regeneron handles distribution and sales in the U.S. and Sanofi handles the responsibilities for the rest of the world.

President Donald Trump and Dr. Mehmet Oz at an event.

President Donald Trump speaks as Administrator for the Centers for Medicare & Medicaid Services Mehmet Oz looks on during an event on drug pricing. (Nathan Howard/Getty Images)

The retail price of Praluent, before adding it to the most-favored-nation pricing, was $537 for a one-month supply. The new price is now 60% off at $225 for a one-month supply.

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MERCK, SANOFI ARE LATEST COMPANIES TO ADD MEDICATIONS TO TRUMPRX

“TrumpRx.gov is a historic game changer for American patients, and this innovative initiative reflects how President Trump hasn’t been afraid to think outside the box to lower prescription drug prices,” said White House spokesman Kush Desai. “The addition of Praluent, a powerful cholesterol medication, is another win for TrumpRx, and the Trump administration remains focused on delivering even more savings for the American people.”

More than 800 brand-name and generic medications from the 17 largest pharmaceutical companies are available through TrumpRx. ( Spencer Platt/Getty Images))

BRISTOL MYERS SQUIBB ADDING 3 MEDICATIONS ON TRUMPRX

Pharmaceutical companies that enter into the Trump administration’s most-favored-nation pricing agreements and commit to expanding U.S. manufacturing can avoid future 100% tariffs on imported medications.

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A pharmacy tech pulls medication from a shelf inside a pharmacy

New White House data obtained by FOX Business shows that Americans have saved more than $700 million on prescriptions using TrumpRx.gov and most-favored-nation pricing. (George Frey/Bloomberg via Getty Images)

Adding 100% tariffs on medications starts Aug. 1, 2028, rising to 200% a year after that.

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Tourist tax introduced in Edinburgh: How much is it and who pays?

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A bare-chested male street performer in front of a crowd on Edinburgh's Royal Mile.

The Scottish capital has become the first city in the country to introduce a charge for overnight stays.

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Disney options trading jumps with focus on July calls

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Disney options trading jumps with focus on July calls

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Chris Brown Pleads Guilty to Affray Over 2023 London Nightclub Bottle Attack, Sentencing Set for October

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Usher

Singer Chris Brown pleaded guilty Friday to a charge of affray stemming from a 2023 altercation at a London nightclub, resolving a case that had originally included far more serious charges of assault and grievous bodily harm before prosecutors agreed to drop them as part of the plea.

Brown, 37, entered his plea at Southwark Crown Court in a hearing that lasted less than five minutes, according to the BBC. His co-defendant, 40-year-old rapper and vocal coach Omololu Akinlolu, who performs under the name HoodyBaby, also pleaded guilty to the same charge.

What happened at the nightclub

Brown was accused of attacking Abraham Diaw, described in some reports as a former friend and music producer, at Tape nightclub in London’s upscale Mayfair neighborhood on Feb. 19, 2023. Prosecutors said the altercation was captured on surveillance camera footage outside the club, which was full of people at the time.

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The affray charge accepted by both defendants states that “Chris Brown and Omololu Akinlolu on February 19 2023 used or threatened unlawful violence towards another and their conduct taken together was such as would cause a person of reasonable firmness present at the scene to fear for his personal safety.” According to Diaw’s original 2023 complaint, he was allegedly struck over the head with a bottle of Don Julio 1942 tequila during the confrontation.

Prosecutor’s statement

Claire Campbell, a senior prosecutor with the Crown Prosecution Service, described the incident in stark terms following the guilty plea. “This was a vicious and unprovoked attack by Brown and Akinlolu in a crowded nightclub where Brown used a glass bottle as a weapon to strike the victim’s head twice,” Campbell said. She added, “This kind of violence is entirely unacceptable, and the Crown Prosecution Service will work tirelessly, with the police and partners across the criminal justice system, to pursue cases like this, and prove that no one is above the law.”

Charges dropped as part of the plea

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In exchange for the guilty plea to affray, prosecutors agreed to drop the more serious charges Brown and Akinlolu had faced, including assault, attempted grievous bodily harm, and, in Brown’s case, possession of an offensive weapon. Both men had previously pleaded not guilty to those original charges last June, and the case had been headed toward a trial scheduled for October before Friday’s plea deal was reached instead.

Bail and sentencing timeline

Brown was initially arrested by London’s Metropolitan Police at a hotel in Manchester on May 15, 2025, on suspicion of grievous bodily harm connected to the case. He spent several days in custody before being released on bail of £5 million, or roughly $6.7 million to $6.75 million depending on exchange rates cited across reports, on May 21. Those bail conditions allowed Brown to continue performing on the European leg of his Breezy Bowl XX tour, provided he surrendered his passport upon arrival in each country he visited.

Brown was freed on bail again following Friday’s hearing. Both he and Akinlolu are scheduled to be sentenced Oct. 26, with the affray charge carrying a maximum possible sentence of three years in prison.

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A warm reception from fans outside court

Despite the criminal proceedings, Brown was greeted enthusiastically by supporters as he left the courthouse. According to Reuters, fans cheered and chanted, “Breezy! Breezy!” as he exited, and Brown stopped to sign autographs. Deadline reported that fans held signs outside the courthouse, with at least one supporter shouting, “I love you Chris,” as the singer walked past. Brown left the court wearing a tan suit, gold-rimmed sunglasses and a St. Louis Cardinals baseball cap, according to multiple outlets.

A separate civil lawsuit

Beyond the criminal case in the U.K., Diaw had also filed a civil lawsuit against Brown in November 2023, alleging in a complaint reviewed by People that Brown used “crushing blows” to strike him in the head. According to court documents from Los Angeles County reviewed by Billboard, Diaw requested last June that the civil suit be dismissed with prejudice, meaning he cannot refile it, though Brown continues to face the separate criminal proceedings in the United Kingdom tied to the same underlying incident.

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Part of a broader pattern of legal issues

Brown’s guilty plea comes just weeks after he was ordered to pay nearly $13 million in damages to his former housekeeper, Maria Avila, following a dog attack at his home in 2020. Avila was mauled by a roughly 200-pound Caucasian shepherd named Hades, which Brown had kept for security purposes, and was left permanently disfigured as a result of the attack. Brown had claimed he warned Avila about the dog’s aggressive tendencies, but following a two-week trial in Los Angeles, he and his company, Black Pyramid LLC, were ordered to pay Avila $12.9 million in damages for negligence.

Brown has faced other high-profile legal matters throughout his career, most notably his 2009 guilty plea to felony assault against then-girlfriend Rihanna, a case that drew significant global media attention and led to a period of legal supervision that included subsequent probation violations and jail time in Los Angeles.

A career that has continued despite the controversies

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Brown rose to fame as a teenager in 2005 and has continued to find commercial and critical success in the years since, winning his first Grammy Award for best R&B album in 2011 for “F.A.M.E.” and a second Grammy in the same category in 2025 for “11:11 (Deluxe).” His Breezy Bowl XX tour, which began in Europe last year, was permitted to continue under the terms of his U.K. bail conditions even while the criminal case remained pending.

With sentencing now scheduled for Oct. 26, both Brown and Akinlolu face a maximum of three years in prison under the affray charge, though the exact sentence will ultimately be determined by the court based on the specific circumstances of the case. Until then, Brown remains free on bail, and it remains to be seen how the pending sentencing might affect any future touring or professional commitments in the months ahead.

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Alphabet and Tesla earnings spark Magnificent Seven market selloff

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Dow Jones Industrial Average tops 50,000 points for first time

Shares in the Magnificent 7 tech stocks have slumped this week amid investors’ concerns about massive spending by hyperscalers on artificial intelligence infrastructure amid uncertainty about the global economy due to the resumption of hostilities in the Iran war.

The so-called Magnificent Seven tech stocks experienced their biggest one-day drop in over a year on Thursday, with Bloomberg reporting that an index of the group fell 4.8% and erased about $787 billion in market value – the steepest single day decline since April 2025.

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The report noted that as of Thursday’s close, the Mag Seven index was down about 11% from the record high it reached in late May, with about $2 trillion in market cap wiped out.

As of Friday morning, six of the Mag Seven stocks were down over the last five days of trading, with Tesla down over 19%, while shares in Google parent Alphabet (-8.5%), Amazon (-6.3%), Meta (-6%), Microsoft (-1.3%) and Apple (-0.4%) were also down. By contrast, Nvidia shares are up about 1.9% in the last five days.

TESLA TOUTS 380,000 UNSUPERVISED ROBOTAXI MILES WITH ‘ZERO NOTABLE INCIDENTS’

The traders on floor of NYSE

Traders work on the floor of the New York Stock Exchange (NYSE) in Lower Manhattan.  (Michael Nagle/Bloomberg via Getty Images)

Tech stocks’ slide steepened after Alphabet and Tesla released their earnings report after Wednesday’s trading session, with both companies reporting large capital expenditures this year.

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Alphabet announced plans to spend about $200 billion on capex this year, up from a prior estimate of $190 billion, with the higher spending on AI data centers and infrastructure contributing to the company’s quarterly cash flow turning for the first time since Google went public, per Bloomberg’s report.

“Alphabet’s higher investment outlook helps reinforce our view that the AI infrastructure buildout remains a durable theme,” said Edward Jones senior analyst Brian Therien. “However, the negative share-price reaction may indicate that investors are becoming more focused on returns generated on AI-related investments.”

GOOGLE LAUNCHES GLOBAL STUDY OF MILLIONS OF AI CHATS TO UNDERSTAND HOW PEOPLE USE ARTIFICIAL INTELLIGENCE

Tesla CEO Elon Musk

Tesla CEO Elon Musk said that the company needs to spend as much as it can on capital expenditures without being wasteful. (Richard Bord/WireImage)

Tesla’s profits came in well below the estimates of Wall Street analysts amid a ramp up in spending, with CEO Elon Musk saying on the company’s earnings call that 2026 will be a “massive capex year” and that the company “should be spending on capex as fast as we can – spend as fast as we can without it being too wasteful.”

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The company’s spending aims to enhance its AI capabilities as well as boosting production of Optimus humanoid robots, as well as robotaxis and autonomous vehicles.

ELON MUSK LOSES TRILLIONAIRE STATUS AFTER TECH SELL-OFF ERASES BILLIONS FROM FORTUNE

Ticker Security Last Change Change %
NVDA NVIDIA CORP. 208.76 -3.30 -1.56%
AAPL APPLE INC. 321.66 -4.23 -1.30%
MSFT MICROSOFT CORP. 381.58 -8.76 -2.24%
GOOGL ALPHABET INC. 317.69 -24.40 -7.13%
AMZN AMAZON.COM INC. 233.66 -11.19 -4.57%
META META PLATFORMS INC. 606.10 -21.07 -3.36%
TSLA TESLA INC. 319.69 -54.32 -14.52%

Ryan Lee, senior vice president of product and strategy at Direxion, said in a note that, “While Tesla continues to invest heavily in AI and robotics, monetization remains the central concern following the earnings miss.”

“Tesla has become the physical AI story, with the potential to bring artificial intelligence into consumers’ everyday lives through autonomous vehicles and robotics. The question is how quickly those investments can begin supporting the valuation,” Lee added.

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Amerant Bancorp Inc. (AMTB) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript