These are the top stories making the headlines across The Business Magazine website today:

Work starts on £16m plant to turn food waste into energy

Eco Sustainable Solutions has commenced construction on a £15.6 million anaerobic digestion plant in Dorset, designed to convert over 50,000 tonnes of food waste annually into 60GWhs of biomethane, enough to power approximately 5,300 homes.

Full story here: https://thebusinessmagazine.co.uk/companies/work-starts-on-16m-plant-to-turn-food-waste-into-energy/

UK watchdog CMA approves £16.5bn tie-up of Vodafone and Three

The UK's Competition and Markets Authority (CMA) has approved the £16.5 billion merger of telecom giants Vodafone and Three, forming the nation's largest mobile network with 27 million customers after an 18-month analysis.

Full story here: https://thebusinessmagazine.co.uk/companies/uk-watchdog-cma-approves-16-5bn-tie-up-of-vodafone-and-three/

Cash injection to boost Bristol firm's photonic chip design

Bristol-based Light Trace Photonics has secured £600,000 in its first investment round, led by QantX Ventures, to advance its integrated photonic chip designs, following its recent induction into the SETsquared incubation programme.

Full story here: https://thebusinessmagazine.co.uk/technology-innovation/cash-injection-to-boost-bristol-firms-photonic-chip-design/

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Octopus boosts Coventry investment with Two Friargate expansion

Octopus Energy has expanded its footprint in Coventry, securing 55,000 sq ft of Grade A office space in Two Friargate, marking one of the most significant commercial deals in the Midlands in collaboration with Coventry City Council.

Full story here: https://thebusinessmagazine.co.uk/property/octopus-boosts-coventry-investment-with-two-friargate-expansion/

Orbit Discovery and Evergreen Theragnostics expand research collaboration

Orbit Discovery and Evergreen Theragnostics have announced an extension of their research collaboration, initially established in April 2023, to develop novel targeting peptides for radiopharmaceutical delivery.

Full story here: https://thebusinessmagazine.co.uk/technology-innovation/orbit-discovery-and-evergreen-theragnostics-expand-research-collaboration/

Planning permission granted for new facility at University of Southampton Science Park

Planning permission has been granted for a new multi-million pound research and development facility at the University of Southampton Science Park, aiming to bolster the South Central region's laboratory capacity and support the UK's ambitions to be a global life science leader.

Full story here: https://thebusinessmagazine.co.uk/technology-innovation/planning-permission-granted-for-new-facility-at-university-of-southampton-science-park/

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Defence Secretary launches new strategy to boost UK jobs and growth

The UK Defence Secretary, John Healey, has unveiled a new Defence Industrial Strategy aimed at prioritizing domestic defence firms for government investment, thereby driving economic growth, creating jobs, and enhancing national security, while inviting input from investors, innovators, industry, and trade unions.

Full story here: https://thebusinessmagazine.co.uk/technology-innovation/defence-secretary-launches-new-strategy-to-boost-uk-jobs-and-growth/

Record £1 billion skills investment as BAE Systemsto recruit thousands more apprentices and grads

BAE Systems is set to invest a record £1 billion in education and skills by 2025, recruiting over 2,400 apprentices, undergraduates, and graduates across major UK sites, marking an unprecedented boost in workforce training.

Full story here: https://thebusinessmagazine.co.uk/property/record-1-billion-skills-investment-as-bae-systemsto-recruit-thousands-more-apprentices-and-grads/

Natwest says £1.3 trillion mid-market can be engine of growth for South West

NatWest's inaugural Mid-market corporate report highlights the crucial role of mid-market companies in the UK economy, particularly in the South West, where they employ nearly a quarter of the workforce and promise substantial growth potential.

Full story here: https://thebusinessmagazine.co.uk/companies/natwest-says-1-3-trillion-mid-market-can-be-engine-of-growth-for-south-west/

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Bristol's Typhoo Tea goes into administration

Bristol-based Typhoo Tea has entered administration amid deepening financial struggles, with losses ballooning to £38m and over 100 jobs at risk following declining sales and a factory break-in.

Full story here: https://thebusinessmagazine.co.uk/companies/bristols-typhoo-tea-goes-into-administration/

Dorset’s MSP Capital appoints new commercial director

Dorset-based property finance firm MSP Capital has appointed Adam Tovey as commercial director, marking his second promotion within two years, following his previous roles as valuation director and director of risk and underwriting.

Full story here: https://thebusinessmagazine.co.uk/corporate-finance/dorsets-msp-capital-appoints-new-commercial-director/

Harwell's Open Cosmos signs €35m contract with ESA

Open Cosmos has secured a €35 million contract with the European Space Agency to design, launch, and commission NanoMagSat, a three-satellite mission under the ESA Scout framework.

Full story here: https://thebusinessmagazine.co.uk/technology-innovation/harwells-open-cosmos-signs-e35m-contract-with-esa/

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Tokamak Energy raises $125m to commercialise fusion and magnet tech

Milton Park, Oxfordshire-based Tokamak Energy has secured $125 million from a funding round co-led by East X Ventures and Lingotto Investment Management, with investments from new participants like Furukawa Electric Company, to advance its fusion energy commercialization and high temperature superconducting technology solution, TE Magnetics.

Full story here: https://thebusinessmagazine.co.uk/technology-innovation/tokamak-energy-raises-125m-to-commercialise-fusion-and-magnet-tech/

Profits surge at Avon Technologies

Avon Technologies saw a record-breaking year-end with a $225.2 million order book, marking a 64.3% increase driven largely by the success of Team Wendy's Next Generation Integrated Head Protection System and its second generation.

Full story here: https://thebusinessmagazine.co.uk/corporate-finance/profits-surge-at-avon-technologies/

Southampton innovator wins major prizes

A Southampton-based company has won prestigious awards and crucial seed money in a national competition for pAiback, an AI-powered travel assistant designed to save travelers substantial amounts by ensuring they never overpay for flights, even post-booking.

Full story here: https://thebusinessmagazine.co.uk/technology-innovation/southampton-innovator-wins-major-prizes/

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Vapes and nicotine pouches drive revenue rise at Bristol's Imperial Brands

Imperial Brands' share price surged as the Bristol-based tobacco giant reported a 4.6% revenue increase, driven by a 26% rise in its 'next generation' products, including heated tobacco, vapes, and nicotine pouches, bringing total revenues to over £32.4 billion.

Full story here: https://thebusinessmagazine.co.uk/corporate-finance/vapes-and-nicotine-pouches-drive-revenue-rise-at-bristols-imperial-brands/

Tech to combat exploding batteries wins Hampshire firms prime slot on TV

Three Hampshire firms, Barnbrook Systems, Flair, and TJ Waste and Recycling, will be featured on BBC’s The One Show to showcase their collaborative effort on the E:bag, a groundbreaking technology aimed at preventing lithium-ion battery explosions.

Full story here: https://thebusinessmagazine.co.uk/companies/tech-to-combat-exploding-batteries-wins-hampshire-firms-prime-slot-on-tv/

MINI Convertible back on the production line at Cowley

After a brief hiatus, production of the MINI Convertible has resumed at the Cowley plant, reestablishing manufacturing operations for this popular model.

Full story here: https://thebusinessmagazine.co.uk/manufacturing-engineering/mini-convertible-back-on-the-production-line-at-cowley/

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QinetiQ posts good first half performance as it extends share buyback

QinetiQ, the Hampshire-based defence and security contractor, reported a strong operational and financial performance in its first half, reaffirming its full-year guidance and extending its share buyback program by £50 million to £150 million.

Full story here: https://thebusinessmagazine.co.uk/companies/qinetiq-posts-good-first-half-performance-as-it-extends-share-buyback/

Alex Tatham joins CI Group as non-exec director

Alex Tatham, former managing director at IT distributor Westcoast, has been named a non-executive director at UK marketing and events agency network CI Group, which is known for integrating AI into its marketing strategies.

Full story here: https://thebusinessmagazine.co.uk/companies/alex-tatham-appointed-non-exec-director-at-ci-group/

West Midlands flagship business programmes set to receive fresh funding

The West Midlands' Innovation Accelerator and Made Smarter programmes, which have significantly bolstered local SMEs by creating or upskilling nearly 5,000 jobs and attracting over £70 million in investment, are set to receive new government funding to continue supporting regional business growth, as announced by the West Midlands Combined Authority.

Full story here: https://thebusinessmagazine.co.uk/companies/west-midlands-flagship-business-programmes-set-to-receive-fresh-funding/

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Rise in profit warnings from South East listed companies

Listed companies in the South East of the UK issued 25 profit warnings in Q3 2024, nearly double the 12 from Q2 and marking the highest quarterly total in two years, contributing to a national high of 84 warnings, according to the latest EY-Parthenon Profit Warnings Report.

Full story here: https://thebusinessmagazine.co.uk/companies/rise-in-profit-warnings-from-south-east-listed-companies/

Shaw Gibbs merges with Langdowns DFK

Shaw Gibbs, an accountancy and business advisory firm, has announced a merger with Langdowns DFK, a reputable practice with three offices in Hampshire, enhancing its expertise and client service capabilities.

Full story here: https://thebusinessmagazine.co.uk/corporate-finance/shaw-gibbs-merges-with-langdowns-dfk/

Persimmon Homes to build more than 1,200 additional homes in West Midlands

Persimmon Homes has secured planning approval to build over 1,200 additional homes across several sites in the West Midlands, including Lichfield, Kenilworth, Redditch, Sandwell, and Burton on Trent.

Full story here: https://thebusinessmagazine.co.uk/companies/persimmon-homes-to-build-more-than-1200-additional-homes-in-west-midlands/