A construction firm run by two bosses who have previously carried out work for Wetherspoon and JD Sports has been wound up. Juma Construction Group’s Matthew Hoyes and Julian Kirkpatrick have a combined 40 years worth of experience in the industry, according to the company’s website.

But the business based in Bolton, Greater Manchester, has been voluntarily ended after a special resolution was passed and joint liquidators appointed. Craig Johns and Jason Elliott from business advisory, Cowgills, are overseeing the process, which involves selling off assets, paying off any creditors and dishing out any funds to those who have a share in the firm.

Other firms Juma Construction Group’s directors have worked for under previous employers include BT, Sports Direct and Revolution Bars, the company website states.

The company offered office fit outs, renovations, refurbishments, gas and civil engineering.

According to the business, this included the design and build of a training facility at John Leggott College in Scunthorpe and a four month long fit out of The Bridge Hotel for Ask Drinks Ltd.

Juma Construction Group and Cowgills have been approached for comment.

News about the company, published by The Gazette on Monday (June 8), comes after the latest figures showed output in Britain’s construction industry declined at its fastest rate since Covid last month.

Worries about the Iran war as well as political uncertainty weighed on demand for building work in May, with the S&P Global UK construction PMI showing a reading of 38.2 – a steep decline from 39.7 in April.

A reading above 50.0 indicates activity in the industry is increasing while anything below means it is contracting.

The latest score was the lowest since May 2020, while construction output has been in decline for about a year-and-a-half despite the Labour Government’s manifesto pledge to build 1.5 million new homes by 2029.

S&P Global’s survey found elevated uncertainty about the economic and political climate was dampening demand, while firms were grappling with rising energy, fuel and transportation costs.

Builders surveyed suggested project delays and pushing back big investment decisions, as well as general cutbacks to their customers’ budgets, had resulted in fewer opportunities for work in May.

Some also pointed to political uncertainty having an impact on demand conditions, after Sir Keir Starmer fought to stay on as Prime Minister amid calls from Labour MPs for his resignation.

Max Jones, Head of Construction at Lloyds, said earlier this month: “While ongoing uncertainty weighs on output, many firms are staying focused on current work and planning for future growth.”

He said companies were continuing to invest in skills to be ready for new opportunities linked to cleaner energy and growing areas of importance, such as defence.

Nationwide has urged customers to follow its latest guidance carefully when switching bank accounts, warning that some payments could fail if the correct steps are not followed.

The building society said customers with subscriptions such as Netflix may need to take action to avoid any disruption to payments.

Talking about what’s included when you switch to Nationwide, it says that “in a full switch, your account balance will be brought over to your new account. It also says that you can get “updates on the progress of your account switch” if you supply them with your contact details when you apply. But not everything is included.

What is not included in a full switch?

Nationwide has warned customers with popular subscriptions, such as Netflix, that they may need to take action. It explains: “Regular bills and subscriptions you pay with your debit card, such as Netflix and Amazon Prime. (You’ll need to give them your new debit card number.)”

The 2025 Which? Banking Brand of the Year also notes that if you use “mobile payments like Apple Pay, you’ll need to set these up again using your new debit card”.

It also says that the following is not included in a full switch:

What else is included in a full switch?

• Closing your old account once the switch is complete. This means your old debit card will stop working.
• Your list of payees (everyone you’ve sent payments to), so you won’t need to ask for their details again.
• Any new payments you’ve set up a week or more before your switch date. Once you’re within 7 days of your switch date, it’s best to set them up on your new account.
• Regular income like your salary, pension or benefits payments.
• Regular outgoings such as utility bills.
• A safety redirect to catch payments sent to your old account in case someone doesn’t use your new account details. Nationwide can also contact the sender and give them your new account details. If you don’t want the bank to do this, just let them know.

It adds: “There are other ways you can switch to Nationwide, like partial and manual switches.”

UK broadband firm VISPA has notified customers that it has stopped operating – and told them to ‘cancel direct debits’. The established provider revealed plans to “commence liquidation proceedings” in an email sent to subscribers.

Launched back in 1999, VISPA told its customer base they would need to “immediately” secure an alternative broadband provider. ISPreview reported.

The firm offered various Openreach-based broadband packages and had recently expanded into full fibre (FTTP) broadband networks, whilst also operating its own Fixed Wireless Access (FWA) network.

However, ISPreview had previously highlighted a range of problems affecting the company, including outstanding debts, complications with the firm’s registered address, and poor feedback on Trustpilot.

The publication has now revealed that numerous VISPA customers received an email from the company’s chief executive, which said: “We are writing to inform you that Vispa Limited has ceased trading and decided to commence liquidation proceedings.

“As a result, we regret to advise that Vispa will no longer be able to continue providing broadband services. To avoid any interruption to your connectivity, you will need to immediately choose a new Internet Service Provider (ISP) as soon as possible.

“Most providers on the Openreach network are able to take over your existing line with minimal disruption. You can find a list of alternative suppliers here: https://www.openreach.com/help-and-support/service-providers-on-our-network

“We also strongly recommend that you cancel any active Direct Debit or standing order you have in place with Vispa Limited to prevent any further payments being taken.

“We understand this news may be inconvenient and we sincerely apologise for the disruption this causes. We would like to thank you for your custom and support over the years.

VISPA director James Ormerod, who signed the correspondence, urged customers to “cancel your direct debit”.

VISPA’s announcement did not give its remaining customers a definitive date for the termination of the service. At present, the VISPA website’s service status page displays “down for maintenance”. It says: “The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.”

The Companies House website shows that Vispa Limited has an “active proposal to strike off”, meaning it is in the process of being removed from the register and dissolved.

Customer Dr Fender said on X: “My c***** internet service provider that hosts my domain and email, @vispainternet, has yet again gone down and they’re unresponsive. How do I complain? They’re not registered with the ombudsman or any of the schemes (of course). #Vispa #ISP #complaint.”

Poundland has announced that its restructuring programme which saw almost 150 stores close and helped it avoid plunging into administration is complete, but it says there’s still “much to do”. The major shake up was set in motion in June after the struggling high street band was bought by American investment firm Gordon Brothers from previous owners Pepco following a slump in sales.

In a bid to revive the chain’s fortunes, Poundland secured High Court approval last August for the plan which involved cutting its estate down from 800 to 651 stores, and reducing its work force from 14,200 to around 12,000 at the end of 2025, representing approximately 2,200 job losses. In a statement, Poundland has now said the wave of closures has come to an end. The company said: “Any future closures will be a consequence of standard business-as-usual lease events expected at a retailer with a large store network.”

However, Poundland emphasised that the work to turnaround their finances isn’t over. Christmas trading figures showed like-for-like underlying sales dropping 2.9% in the quarter to December 28 after the chain dropped prices.

However, comparable store sales by volume saw a 2% increase. Poundland managing director Barry Williams said: “While there’s been significant progress as we refocus and re-energise the business with lower prices and a sharper offer, we know we still have much to do.

He added that the chain’s focus on their costs has, “without doubt, given us a platform for future growth, but no sustainable turnaround can be based on cost management alone”.

“That’s why our focus in 2026 will be on delivering the kind of ranges and price simplicity our customers want right across the store – in clothing, homewares as well as our core grocery aisles,” he added.

Mr Williams said their customers had told them “loud and clear they want a simpler, more focused Poundland that keeps its promise of amazing value”.

“We have clear indications from the work we’ve already done that we’re on the right track.”

In a statement last year prior to the formal approval of the closures, Mr Williams said: “It’s sincerely regrettable that this plan includes the closure of stores and distribution centres, but it’s necessary if we’re to achieve our goal of securing the future of thousands of jobs and hundreds of stores.

“It goes without saying that if our plans are approved, we will do all we can to support colleagues who will be directly affected by the changes.”

London has retained its position as the world’s leading international financial centre for the sixth consecutive year, according to the City of London Corporation’s latest benchmarking analysis. The report, titled “Our global offer to business – London and the UK’s competitive strengths supporting investment and growth 2026”, evaluates competitiveness using 102 publicly available data metrics across key categories, including regulatory environment, talent and skills, business infrastructure, sustainable finance, and capital markets activity.

London’s consistent performance in sustainable finance, capital markets, and technology adoption secured its top ranking among seven major global financial centres. The Corporation’s analysis, published today, positions London ahead of New York, in second place, and Singapore in third.

This self-published benchmarking, while not fully independent, highlights regulatory reforms such as the Edinburgh Reforms, the Financial Services and Markets Act, and the Mansion House Compact as factors supporting London’s edge.

The report notes particular strengths in fintech, legal innovation, AI adoption, and international financial reach, with the UK maintaining a strong trade surplus in financial services exports.

However, challenges persist. The UK lags in digital infrastructure, with slower broadband speeds compared to rivals, and weaker IPO activity and office costs relative to some competitors (though London office prices remain roughly half those in New York).

Sustainable finance leadership is emphasised, though Singapore reportedly lags in this area, while Paris trails London and New York overall.

1. London
2. New York
3. Singapore
4. Frankfurt
5. Paris
6. Hong Kong
7. Tokyo

(This selection of seven leading centres is the focus of the Corporation’s annual exercise.)

For context, independent rankings such as the widely referenced Z/Yen Global Financial Centres Index (GFCI, latest editions) typically place New York first and London second, followed by Singapore, Hong Kong, Shanghai, San Francisco, Chicago, Los Angeles, Seoul, and Shenzhen or Tokyo in the top 10. Shifts there are often modest, with score adjustments rather than major ranking changes.

The City of London Corporation’s Policy Chairman has previously stressed the need to maintain a competitive edge amid post-Brexit adaptation, tech competition, and infrastructure upgrades.

The 2026 report underscores London’s resilience as Europe’s largest financial hub and a global leader in areas like green finance and professional services, supporting investment and growth across the UK.

Analysts note that while the Corporation’s survey favours London, rival indexes incorporating more subjective surveys and broader metrics (over 140 in Z/Yen’s case) often give New York the edge due to deeper domestic capital markets and innovation ecosystems. Nevertheless, the announcement appears to reinforce London’s self-image as the pre-eminent international financial centre, attracting businesses seeking stability, talent pools, and regulatory predictability.

A beauty brand popular amongst UK shoppers has shut all of its British stores and paused its online sales in the UK. The company said it had exhausted all viable options, but in the end, it had no choice but to go into administration. The move will reportedly lead to redundancies. Malin + Goetz has seven UK stores, all in London. They are found in Islington, Canary Wharf, Soho, Battersea, Seven Dials, Spitalfields and Borough Yards. 

Its products are also sold through third-party retailers such as Liberty, John Lewis and Space NK. The brand specialises in skincare products, haircare, candles and fragrances. It was founded in the Chelsea neighbourhood of New York City in 2004 by founders Matthew Malin and Andrew Goetz. A short maintenance period will mean online UK sales will pause while the company shifts e-commerce operations to its US team. 

A spokesperson told TheIndustry.beauty: “Following an extensive review of the business and after exhausting all viable alternatives, we have taken the difficult but necessary decision to put our UK business into administration, resulting in the closure of all UK stores that we operate and our head office.

“We recognise the impact this will have on our colleagues and customers, and the loss of jobs is deeply regrettable, but unavoidable under the circumstances.”

They added: “This structural change will allow the business to focus on our e-commerce and third-party retail channels where our customers increasingly choose to shop, while enabling us to operate more efficiently, and better serve customers in the long term.”

A new partnership with distributor Discovered Brands means that customers can continue to get Malin Goetz products through third-party retailers in the UK. 

Among the brand’s best-sellers are its travel skincare kit, its advanced renewal moisturiser, its Vitamin E face moisturiser and its all-purpose moisture balm. 

Work on a £140 million designer outlet shopping centre on the A1 is due to start this year and be completed by 2028, the developer has said. The new shopping centre, which is expected to have 137 shops, cafes, and leisure outlets, will bring more than 1,200 jobs to a rundown, struggling town close by.

The complex was originally scheduled to open in 2021, but work is finally set to begin this year. Giles Membrey, the managing director of Rioja Estates, said the scheme had suffered “a lot of setbacks”, but would become “a tourist attraction in its own right” when finished. As well as the usual chain stores, there will be facilities for local artisans and business pop-ups to help create a more town-centre feel. To that end, there will also be public green spaces and squares for shoppers to relax in and enjoy.

Grantham Designer Outlet Village will be the UK’s only premium outlet with a visible frontage and direct access from the UK’s 3rd busiest highway (A1), the developers say.

They said: “With the construction of the new junction south of Grantham on the A1 completed, Grantham Designer Outlet Village is one of the few Outlets in the UK to have both visibility and direct access from a major highway.

“At Grantham Designer Outlet Village, we’re creating a state-of-the-art retail destination that will transform our visitors’ shopping and leisure experience.

“Inspired by the surrounding countryside, our buildings are conceived as traditional forms with contemporary finishes and high-quality shop fronts. Our research tells us to expect 3.8M visitors to visit Grantham Designer Outlet Village.”

Last year, Grantham was described as a “dump” and a “shanty town” according to YouTube channel Turd Towns. Their video, entitled The Worst Towns In the Flat World of  Lincolnshire, names 7 Lincolnshire towns as being some of the worst in the country, including Grantham, Gainsborough, Grimsby, Boston, Cleethorpes, Scunthorpe and Skegness.

The new shopping centre will be just three miles from Grantham, as well as being easily accessible from the A1 motorway. The designer shopping village is expected to pull in visitors from Lincoln, Nottingham, Leicester, Peterborough and Cambridge.

It will be a 50 minute drive from Leicester and a 65 minute drive from Cambridge and 3.5 million shoppers are predicted to visit it annually.

The designer outlet village will include free wifi, fastcharge car park points, active media boards, a VIP suite, ATMs and shop mobility.

However not everyone is thrilled at the plans.Councillor Richard Davies, who represents Grantham West on the county council, criticised the delays and said he would prefer to see the site used to support local industrial companies, rather than retailers.

Plans for the Grantham Designer Outlet Village were originally approved by South Kesteven District Council in 2017.

Davies said it had faced “a lot of delays, and added:”Our little corner is crying out for business space, decent quality hi-tech workshops – space for businesses to grow,” he added.

However Mr Membrey said with the development he was trying to “create something that’s massively beneficial, not only for Grantham but also for Lincolnshire”.

The site was “one of the most strategic locations in the UK, in terms of where it sits on the A1”.

“So we are looking at other hotels and services on the site, so in total there’ll be around 1,200 to 1,300 jobs created,” he added.

The growth of artificial intelligence (AI) is putting more than 200,000 European banking jobs at risk by 2030, new analysis warns. The assessment by Morgan Stanley predicts back- and middle-office roles will be among those most affected by cuts. 

It comes as banks increasingly look to AI to help make savings and close more branches. Hundreds of bank branches have shut in the UK this year, with more than 6,000 closing their doors since 2015 in a blow to high streets across the country. The forecast by Morgan Stanley, a US investment banking and financial services firm, found 10% of the industry’s jobs could be cut by 2030 due to the rise of AI.

The prediction was made following an analysis of 35 lenders. 

The banks in total employ around 2.12 million people, meaning a 10% cut would see about 212,000 job losses, according to the Financial Times which first reported the story.

Morgan Stanley said: “Many banks have quoted efficiency gains coming from AI and further digitalisation to the tune of 30%.”

The analysis found cuts are most likely in the “central services” divisions.

Risk management and compliance roles are also among those deemed most under threat from AI.

The FT reported Morgan Stanley analysts found AI is giving banks an opportunity to improve their cost-to-income ratios. 

Banks are already referencing AI as a factor for restructuring, the outlet added. 

Conor Hillery, JPMorgan Chase’s co-chief executive of Europe, Middle East and Africa, spoke of the need to embrace using AI, while still ensuring staff have the skills needed.

He said: “The one thing we have to be very careful about — in this rush and excitement about AI in our world of banking — is that people don’t lose an understanding of the basics and fundamentals.

“Otherwise, we’re storing up a big problem for the future.”

In 2025, the rise of AI was increasingly cited as a factor in company decisions, both worldwide and across different sectors, to trim their workforces.

Hundreds of jobs at a UK contruction firm have been protected after it went into administration, according to reports. Thurston Group Ltd, a modular construction specialist firm based in Wakefield, West Yorkshire produces offsite and modular buildings across various sectors, including education, healthcare, industrial and commercial.

It’s has been operating for more than five decades and has a number of sites in Yorkshire. But the firm, which had a turnover of £47million to the year ending November 1, 2024, has faced financial challenges in recent times and on December 22 called in corporate recovery company Leonard Curtis, Wakefield Express reports.

Hilary Pascoe, Andrew Poxon and Mike Dillon from Leonard Curtis were appointed as joint administrators of Thurston Group Limited, the main trading business, Thurston Holdings Limited, and Thurston Group Estates Limited this week.

Thurston Group Limited was established in 1970, and employed 275 people.

Last month, Leonard Curtis had been formally instructed to conduct an accelerated mergers and acquisitions (AMA) to find a buyer, with GCH Corporation Ltd confirmed as the new owner on December 22, 2025.

GCH Corporation Ltd describes itself on its website as a “privately owned and personally financed group of companies” that owns industrial manufacturing and distribution businesses.

According to the outlet, the deal has successfully safeguarded more than 200 jobs. Express.co.uk has reached out to GCH Corporation and Leonard Curtis to confirm how many jobs have been saved.

GCH chief executive Cassie Hutchings said she was pleased to confirm the acquisition, protecting jobs and securing the business’ future.

“Thurston is a respected UK manufacturer of modular buildings with a strong heritage and deep sector expertise,” Ms Hutchings said.

“As a long-term, privately owned industrial group, GCH is committed to stabilising and investing in the business.

“We are excited to welcome Thurston into the GCH family and look forward to supporting its next phase of growth.”

Ms Pascoe said: “We are delighted to have completed a sale and wish the new owners every success.”

Oil and gas major BP has replaced its chief executive after less than two years, appointing Meg O’Neill as the first woman to lead the British company in its 116-year history.

Murray Auchincloss stepped down on Wednesday, with O’Neill set to take over from the Australian energy group Woodside on 1 April. Carol Howle, BP’s trading chief, will serve as interim chief executive until then.

The appointment represents a watershed moment for the company. O’Neill becomes Big Oil’s first female leader and BP’s first external hire to the top job in decades, breaking with longstanding practice of internal succession.

The leadership change follows a turbulent period for BP, which has struggled after abandoning its renewable energy ambitions in February. Under former chief executive Bernard Looney, who departed in 2023 following an investigation into undisclosed relationships with colleagues, BP pledged to cut oil and gas production by 40 per cent by 2030 whilst targeting 50 gigawatts of renewable capacity.

But the strategy attracted fierce criticism. Activist investor Bluebell Capital Partners described the pivot as “irrational”, claiming it had left shareholders £40bn poorer. Auchincloss subsequently reversed course, slashing renewable investment by more than $5bn annually to between $1.5bn and $2bn, whilst increasing oil and gas spending to $10bn per year.

The company’s market capitalisation has plunged from roughly $250bn (£186bn) in 2006 to around $88bn (£33.5bn) in December 2025, underperforming rivals including Shell, ExxonMobil and Chevron.

Albert Manifold, who became chairman in October after leading building materials group CRH, has moved quickly to accelerate the turnaround. The former CRH chief executive oversaw a fourfold increase in that company’s share price during his 11-year tenure.

Auchincloss said the timing was right to “hand the reins to a new leader” after more than three decades with BP, adding he had expressed willingness to step aside if an appropriate successor emerged to “accelerate delivery of BP’s strategy”.

O’Neill, an American who spent 23 years at ExxonMobil before joining Woodside in 2018, has focused squarely on fossil fuels. She recently told investors that customers prioritising affordability showed “zero or near zero” willingness to pay premiums for climate-friendly products.

The appointment comes amid continued takeover speculation. Shell reportedly held discussions about acquiring BP earlier this year, though the rival firm denied pursuing a deal. Under UK takeover rules, Shell faces restrictions on making an offer until late December.

Activist investor Elliott Management, which holds more than 5 per cent of BP’s shares, has pressed for deeper cost cuts and asset sales. The Florida-based hedge fund has criticised the pace of BP’s restructuring.

O’Neill becomes BP’s fourth chief executive in six years, inheriting a company attempting to restore investor confidence whilst navigating volatile oil prices and intense pressure to deliver returns. Manifold described her “proven track record of driving transformation” as making her “the right leader for BP”.