Month: July 2024

Green councillor Ellen McLeay is urging Brighton & Hove City Council to take action against the growing issue of short-term holiday lets impacting the local rental and housing markets.
At the upcoming council meeting on Thursday, McLeay plans to propose a motion to address this concern, with support from fellow Green councillor Chloe Goldsmith.
Goldsmith emphasised the urgency of the situation, stating, “This is just one of many problems with the housing market in our city, but it’s one which we need to tackle as soon as possible. The council should begin the initial work now to ensure we are ready to implement these regulations as soon as possible.”
McLeay’s motion calls for a detailed report on how the council can leverage its planning powers to regulate short-term holiday lets. She is advocating for the use of an Article 4 Direction, which would grant additional planning control, similar to measures already in place to limit shared housing in the area.
The proposal includes presenting a report to the council’s cabinet and the Place Overview and Scrutiny Committee, pinpointing areas in Brighton and Hove that would benefit from stricter regulation. The report would also outline enforcement measures for those who bypass necessary permissions for short-term lets.
McLeay is also set to request that council leader Bella Sankey formally ask the government to empower councils with the authority to regulate short-term lets and close any existing loopholes.
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Calls for regulation of short-term holiday lets in brighton

The Labour government is confronting a significant legal challenge regarding its commitment to impose an immediate ban on new North Sea oil and gas exploration licences amidst an ongoing licensing round.
Having secured power with a decisive election victory last week, Labour’s promise to halt new North Sea exploration licences is now in jeopardy due to the current licensing process managed by the North Sea Transition Authority (NSTA). The government must decide whether to cancel this process, risking potential legal battles with companies that have invested millions in their bids.
Labour’s manifesto pledge included a “phased and responsible” transition away from North Sea drilling, highlighting the importance of the offshore industry and its workforce. However, the cancellation of the licensing round could provoke legal actions from affected companies, which could argue they were unfairly treated after substantial financial outlays.
The government is expected to seek legal advice to navigate this complex issue without inciting litigation from the oil and gas sector. Tessa Khan, executive director of Uplift, criticised any potential retreat from the manifesto promise, emphasising the public’s demand for a shift away from the existing energy system that disproportionately benefits oil and gas companies at the expense of consumers and the environment.
Labour’s energy policy aims to transform the UK into a clean energy leader by ending new oil and gas licences while significantly expanding renewable energy sources, including onshore wind, solar, and offshore wind capacities.
The Labour administration has reiterated that it will not issue new exploration licences or revoke existing ones, ensuring the management of current fields until the end of their operational life. Reports suggesting Energy Secretary Ed Miliband had overruled officials to enforce an immediate ban were dismissed as fabrications.
The ongoing licensing round, initiated in autumn 2023, attracted bids from 76 companies for 257 exploration blocks across the North Sea, Irish Sea, and east Atlantic. A few applications remained undecided when the snap election was called by then-Prime Minister Rishi Sunak in May.
The NSTA has remained non-committal regarding the remaining applications, stating only that it adheres to the government’s policy direction.
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Labour faces legal quandary over proposed North Sea licence ban

Heathrow Airport has been compelled to reduce the landing fees it charges airlines following intervention by the competition regulator.
The Civil Aviation Authority (CAA) announced that the cap for landing charges will be set at an estimated £23.73 per passenger next year and £23.71 in 2026, approximately 6% lower than initially anticipated.
In March last year, the CAA had proposed capping prices at £25.24 in 2025 and £25.28 in 2026. However, after the Competition and Markets Authority (CMA) stepped into the prolonged dispute between Heathrow and the airlines, the CAA made slight adjustments to its price cap calculations. While the CMA largely supported the CAA’s approach, it recommended re-examining a few minor issues.
The CAA’s final decision on the price cap concludes the debate over whether Heathrow should increase its landing fees during the 2022-2026 regulatory period to aid its pandemic recovery. Initially, Heathrow sought to charge as much as £40 per passenger, a proposal airlines claimed was based on an underestimation of the airport’s recovery speed to justify higher fees. Before the pandemic, the fee was set at about £19 per passenger.
The tension between Heathrow and the airlines arose from the significant decline in air travel during the pandemic. However, the industry has rebounded swiftly. On June 30, Heathrow experienced its busiest day ever, with 268,000 passengers passing through its terminals. In June, the airport handled 7.4 million passengers, a 5.6% increase from the same month last year. Over the 12 months ending in June, 81.9 million passengers used the airport, marking a 13% rise compared to the previous year.
Last month, Heathrow’s ownership changed hands after Ferrovial, the Spanish construction company that led the 2006 acquisition of the then-privatised BAA, sold most of its stake. The deal was made with Ardian, a former co-owner of Luton Airport, and PIF, the sovereign wealth fund of Saudi Arabia, which also holds interests in Newcastle United and Aston Martin. The original acquisition valued Heathrow at £9.5 billion, while the revised settlement comes at a price of £8.3 billion, a 13% discount.
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Heathrow forced into bigger cut of passenger landing fees

The finalists of the 2024 Black British Business Awards have been announced ahead of the gala in October.
Returning for the eleventh year, the BBBAwards celebrate the outstanding achievements of Black professionals and entrepreneurs in the UK.
Winners from six industry categories will be revealed at the ceremony which will take place on Friday, 11 October 2024 at the InterContinental London, Park Lane.
Since their inception, the BBBAwards have promoted the representation of Black talent across all sectors, recognising both senior leaders and emerging stars who contribute significantly to the UK economy. This year the BBBAwards are celebrating 36 finalists, representing Amazon, Apple, Burberry, L’Oréal, American Express, Ralph Lauren, EY, KPMG and exceptional enterprises in industries ranging from publishing, finance and technology to beauty, food and beverages.
The theme of the 2024 BBBAwards is #NEXT. #NEXT marks a generational shift in the Black community and business, acknowledging rising stars that are now poised to become the next generation of industry leaders and honouring those who defied the odds and fought hard to pave the way.
Dr Sophie Chandauka MBE, Chair and Executive Founder of the BBBAwards said: ‘Congratulations to the finalists of the 2024 Black British Business Awards. Your success stories serve as a powerful reminder of the progress we are making and what is possible. As we find ourselves in a new political landscape, it is crucial that government and industry leaders do not overlook, undervalue or undermine the huge talent and potential from the Black community. The BBBAwards class of 2024 is a breathtaking celebration of aspiration, accomplishment, resilience and innovation across all segments of the UK economy.’
Wells Fargo is hosting the 2024 BBBAwards finalist reception, having been a major corporate supporter of the BBBAwards since 2019.
John Langley, Corporate & Investment Banking COO and Head of International, Wells Fargo said: “Wells Fargo is honoured to support the Black British Business Awards for the fifth year running, and we are thrilled to be hosting the finalist announcement this week at our London headquarters. These important awards celebrate exceptional Black professionals and entrepreneurs and spotlight the unwavering tenacity, drive, commitment and extraordinary talent of these individuals. I want to extend my warmest congratulations to all of the finalists, and wish them the best of luck at the awards later this year. We will be there to support you!”
J.P. Morgan returns for the fifth year as the Key Partner of the BBBAwards and, for the seventh consecutive year, The Telegraph will continue its role as national Media Partner.
Other significant sponsors include Alix Partners, Baker McKenzie, Barclays, Bloomberg, Deloitte Goldman Sachs, L’Oréal, Morgan Stanley, MSCI, Oliver Wyman, Financial Times, the Stepstone Group and Wellington Management.
The 2024 BBBAwards will honour exceptional Black business talent across six industry categories, celebrating both rising stars and senior leaders. The 2024 BBBAwards finalists are as follows:
Arts and Media Rising Stars

Jimi Adesanya, Co-Founder and Executive Producer, JM Films & Unbound Studios
Monique Reynolds-Blanche, PR Specialist, UK & EMEA Publicity, Netflix
Daniel Carter, Enterprise Customer Experience Marketing Lead, EMEA, Amazon Web Services

Arts and Media Senior Leaders

Charlene Prempeh, Founder, A Vibe Called Tech and Contributing Editor, Financial Times HTSI
Dr Charisse Oyediwura, Chief Executive, Black Lives in Music
Laura Henry-Allain MBE, Storyteller, Producer, Educationalist and Consultant, Allain Creatives

Consumer and Luxury Rising Stars

Leon Francis, Senior Manager, Apple
Naomi Mafeni, Senior Brand Manager, CeraVe skincare, L’Oréal
Tia Rochester, Senior Buying Manager EMEA, Ralph Lauren Collection

Consumer and Luxury Senior Leaders

Geoffrey Williams, VP Colleague Attraction & Inclusion, Burberry
Rene Moshi Macdonald, Founder and Creative Director, Lisou Ltd
Ryan Panchoo, Founder and CEO, Borough22

Entrepreneur Rising Stars

Christina Taylor, Founder, Aim Sky High Talent
Mike Williams, Co-Founder, Flake Bake Ltd
Tendai Moyo, CEO, Ruka Hair

Entrepreneur Senior Leaders

Sama Trinder, CEO and Founder, Bingham Riverhouse and bhuti
Mark Dalgety, CEO, Caricom Products Ltd T/Z Dalgety Teas
Ndubuisi Uchea, Co-Founder & CEO, Word on the Curb

Financial Services Rising Stars

Jeffrey Krampah-Williams, National Key Account Manager, Santander
Khalia Ismain, Black Entrepreneurs Programme Manager, Lloyds Bank
Yinka Baruwa, Credit Portfolio Manager, Wells Fargo

Financial Services Senior Leaders

Ize Idemudia, Managing Director, COO, Morgan Stanley
Oliver Gayle, Managing Director, Barclays
Rob Anarfi, Group Chief Risk Officer, Beazley plc

Professional Services Rising Stars

Helen Clark, Global Mobility Tax Technology Manager, KPMG
Tendai Sibanda, Director, AlixPartners
Yeshua Carter, Senior Consultant, Founder of EY Outreach, EY

Professional Services Senior Leaders

Dwayne Gibson-White, Partner, EY
Kyle Mason, Head of External Monitoring, Shell
Liza Jordan, Managing Director, Accenture

STEM Rising Stars

Hewan Wole, Global Marketing Director, ViiV Healthcare, GSK
Maureen Biney, Software Engineer, American Express
Tolu Falade, Production Team Leader, BP

STEM Senior Leaders

Haddy Davies, Global Business Partner, Catalyst Technologies, Johnson Matthey
Natznet Tesfay, Vice President, S&P Global
Pamela Maynard, CEO, Avanade

Read more:
Black British Business Awards announce 2024 finalists

Boostworks, a leading provider of employee reward and recognition, benefits delivery and wellbeing solutions’, has launched the findings of its latest research-based whitepaper: The Heart of Workplace Engagement.
Importantly, the paper revealed that 70% of employees highlight the importance of recognition, but less than half (42%) report receiving regular recognition from their CEOs.
Flagging the importance of the pivotal role of emotional bonds in fostering an engaged and productive workforce, the research – carried out across 3,000 HR professionals, C-suite leaders, and employees across UK businesses – is a deep dive into the role of employer recognition. It emphasises the particular importance of line managers and peers and how they’re the ‘unsung heroes’ for recognising employee achievements and progress.  Receiving recognition from managers was cited as pivotal, impacting morale and engagement for 51% of employees.
Andy Caldicott, CEO at Boostworks said: ‘In today’s dynamic workplace environment cultivating a thriving culture must extend beyond mere words, it requires embedding emotional connections and personalised recognition into the daily experiences of employees.
‘Our research shows a significant discrepancy between employee needs for recognition and what is actually given, underscoring a substantial gap in leadership practices where the emotional and professional needs of employees are not being fully met’.
Diving deeper into the report affirms what the most successful leaders’ have been saying for a while
Emotional connections matter:

70% of employees emphasised the importance of emotional connections, highlighting empathy as a critical part of the recognition process.
Unfortunately, less than half (42%) of employees reported receiving regular recognition from their CEOs.
81% of HR professionals resonated with the need for emotional bonds, emphasising direct manager feedback and peer recognition.
76% of C-suite leaders acknowledged challenges aligning these practices with business goals due to traditional compensation strategies.

Mind the gap:

Nearly 70% of employees and 81% of HR professionals believed in the importance of emotional connections at work.
However, only 42% of employees felt acknowledged by their CEOs.
Receiving recognition from managers was cited as pivotal, impacting morale and engagement for 51% of employees.
Peer-to-peer recognition also held significant value – (55%) acknowledge work milestones and 59% acknowledge their personal milestones.
Yet, half of the employees surveyed (50%) agree that senior managers receive more recognition than those at a lower level.

Unsung heroes: Line managers and peers:

51% of employees believed direct recognition from managers positively impacted their morale and engagement.
53% agreed that their line managers regularly acknowledged work milestones, while 51% acknowledged personal milestones.
Colleagues also play a role in recognition, with 55% acknowledging work milestones and 59% acknowledging personal milestones.
Managers need adequate support; 48% of employees believed they should regularly share information about available rewards and benefits.

Communication and transparency:

While 76% of C-suite executives perceived communication as open, only 51% of employees shared the same view.
A significant portion of employees (25%) desired more frequent updates on rewards and recognition. Meanwhile, 40% of HR professionals and 39% of C-suite executives agreed on communicating about rewards every 2-3 months, though 38% believed it should be monthly or more often.

Support, communication and acknowledgement – they’re all the basics of being kind on a basic human level. Amidst all of the data capturing, growth goals and sales targets they’re often the first thing to be lost. Yet the evidence is clear: communication and acknowledgment are key to a happy and fulfilled workplace. Fulfilment is key to people’s pride and work ethic – why would someone work harder if their regular results aren’t even recognised? They’re going to leave and go where they are appreciated.
Churn and subsequent recruitment costs are one of the highest staffing costs in business and having a ‘recognition strategy’ in the workplace is key, and here’s the caveat: it needs to be genuine. Simply naming a person as employee of the month is not enough to motivate a workforce. Goal and incentives with recognition of larger teams as a whole as well as individual praise is essential. This goes beyond good management and communication skills with regular check-ins and a safe space for employees to offload and solve any problems.
‘The narrative here is clear – the journey towards a thriving workplace culture is a collective endeavour, demanding a strategic approach to harmonise recognition practices with the holistic aspirations of all employees,’ concludes Caldicott.
‘Businesses must prioritise emotional connections and recognise the unsung heroes – line managers and peers. By fostering a culture of recognition and setting the tone for better, more transparent communications, organisations can enhance engagement, satisfaction, and all importantly, retention.’
 
Read more:
New report highlights the importance of recognition in workforces

A recent study by A.I. productivity platform Plus Docs, analysing the latest data from the Bureau of Labor Statistics (BLS), has found a 2.4% increase in working hours in New York for the period of 2022-2023, accompanied by a 1.8% decline in labor productivity.
Nationally, the average hours worked increased by 1.7%, and labor productivity saw a modest rise of 1.0%. This positions New York above the national average for the increase in working hours but contrary to the overall trend of rising productivity.
Daniel Li, CEO and co-founder of Plus Docs, commented on the findings, saying, “The states with the lowest working hours often emerge as the most productive due to several key factors: they prioritise efficiency, implement advanced technologies, and place an emphasis on employee wellbeing and work-life balance. In doing so, they maximise output without extending work hours and ensure their employees are well-rested and highly motivated, leading to greater overall productivity.
“Progressive labor policies and innovative workplace practices in these states contribute to an environment where productivity is driven by the quality of work rather than the quantity of hours spent working. This holistic approach not only boosts productivity but also enhances employee satisfaction and well-being.”
The findings from Plus Docs suggest that New York’s approach may benefit from a reevaluation to align more closely with states that have successfully increased productivity without extending working hours, thereby fostering a more balanced and efficient work environment.
Read more:
New York working hours increase by 2.4% but productivity drops by 1.8%

Steven Bartlett, renowned for his role on BBC’s Dragons’ Den and as host of the Diary of a CEO podcast, has announced his investment in Chapter 2, a tech-enabled recruitment and talent company.
This move aims to transform the outdated recruitment industry and deliver faster, more cost-effective hiring solutions for businesses globally.
Founded by Leo Harrison in 2020, Chapter 2 addresses the inefficiencies of traditional recruitment models by offering scalable talent solutions that combine the agility of an agency with the cultural insight of an in-house team. The company’s innovative approach centres around three key pillars: People, Process, and Technology, tailored to meet the unique needs of each client. Notable clients such as John Lewis and Bumble have already benefited from Chapter 2’s impressive 248% compound annual growth rate (CAGR).
Steven Bartlett’s investment is driven by a shared vision to modernise the recruitment landscape. Bartlett commented, “Hiring a great group of people is the single, most important objective for any company aiming to be great. Traditional recruitment companies are often expensive, misaligned, and culturally out of touch. Chapter 2, led by the exceptional Leo Harrison, is designed to fix these issues. This partnership is not just to power my company’s talent needs at Flight Group but to support high-potential companies worldwide.”
Chapter 2’s global presence spans the United Kingdom, United States, South Africa, India, and Germany, positioning it to deliver world-class talent solutions across various markets. By joining Bartlett’s business ecosystem, Chapter 2 aims to enhance its service offerings and accelerate growth for top-tier businesses.
Leo Harrison, CEO and founder of Chapter 2, remarked, “The recruitment and talent acquisition sector is ripe for disruption. Attracting and retaining the top 0.1% of talent is increasingly challenging in today’s market. As the Global COO of OLIVER Agency, I recognised the need for a more effective recruitment solution, which led to the creation of Chapter 2. With Steven’s support, we will extend our reach and ensure we provide a first-class talent solution that delivers unparalleled results for our clients.”
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Steven Bartlett invests in chapter 2 to revolutionise recruitment industry

The restructuring firm’s revenue surged by 12% to £136.7 million for the year ending April
Begbies Traynor forecasts ongoing “elevated” insolvency levels as rising interest rates and funding demands strain company finances.
The Aim-listed restructuring specialist anticipates persistent corporate distress into next year following a 12% increase in insolvencies, reaching 25,391 by April 30.
Revenue for Begbies Traynor climbed by 12% from £121.8 million to £136.7 million for the year ending April 30. Adjusted earnings before interest, tax, depreciation, and amortisation rose by 7%, from £26.6 million to £28.5 million, while profit before tax fell by 3.3% to £5.8 million.
Ric Traynor, (pictured) executive chairman of Begbies Traynor, stated, “Insolvency activity across the UK remains at elevated levels, with sustained higher interest rates continuing to impact corporate stress levels.”
Traynor added that the higher insolvency rates are expected to persist next year as businesses face “working capital and other funding challenges” amid economic recovery.
The Body Shop, Cazoo, Ted Baker, and Matchesfashion are among the companies that have succumbed to insolvency this year due to the challenging higher-rate environment. The Bank of England has raised the base rate to a 16-year peak of 5.25% to combat inflation, and while rates are expected to decrease this year, businesses will still contend with elevated borrowing costs.
Begbies Traynor’s revenue from its business recovery operations increased by 13%, from £70.6 million to £79.5 million, whereas revenue from its advisory services dropped by 2.2%, from £19.1 million to £16.9 million.
The firm has handled several significant insolvency cases throughout the financial year, including the administrations of Worcester Rugby Club and Paperchase, as well as the receivership of Britishvolt’s electric battery site in Northumberland. Additionally, Begbies Traynor has been appointed to manage the administrations of Fortress Capital and Thought Fashion.
Tim Symes, Partner and Insolvency and Asset Recovery lawyer at UK law firm Stewarts echoed Traynor’s comments, saying: “It’s right to say that things will continue to remain tough for the smaller and less resilient companies, which represent the vast majority of the on-going corporate insolvencies. However, we will continue to see these numbers abate as interest rates begin to fall, control of inflation is fully regained and consumer confidence returns.”
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Begbies Traynor anticipates continued high insolvency levels into next year

Byway, the travel tech startup and B Corporation championing flight-free travel, has raised £5 million in an oversubscribed Series A funding round.
The round was led by Heartcore Capital, with participation from Eka Ventures and re-investing Byway angels. The funds will be used to accelerate the development of Byway’s unique journey-planning technology, JourneyAI, and to fuel its expansion into new regions.
As the demand for sustainable travel continues to grow—with 76% of travellers wanting to travel more sustainably and 47% planning to fly less—Byway is at the forefront of making flight-free holidays mainstream. Since its launch in March 2020, Byway has grown three times year-on-year. With an average carbon saving of 718kg per trip, Byway’s customers have saved 3,045 tonnes of carbon compared to flying, equivalent to planting 18,270 trees. An impressive 95% of Byway customers have rated the service 5 out of 5 stars.
Byway’s innovative JourneyAI technology is the world’s first 100% flight-free holiday planner. It integrates transport and accommodation data with expert place- and journey-based content into a smart dynamic packaging engine that designs multi-stop, personalised trips away from tourist hotspots. JourneyAI optimises trips for enjoyment rather than speed, enriching holiday experiences for travellers and making the journey part of the trip instead of just a means to an end.
The recent funding round was led by Heartcore Capital, known for investing in tech companies that bring happiness and enchantment to the world, including GetYourGuide, Travelperk, and Fora. Eka Ventures, focusing on sustainable consumption, also participated, along with re-investing Byway angels, including the HERmesa angel syndicate, impact investor Julia Davies, and Susan Hooper, former SAGA CEO.
With the new investment, Byway plans to expand its team, launch in new markets, and further develop its flight-free travel technology. Over the coming months, Byway will be hiring for roles in tech, product, finance, business development, and customer support. Job announcements will be available on their website and LinkedIn page.
Cat Jones, CEO and Founder of Byway, expressed her excitement: “It was a delight to experience such overwhelming interest from investors enthusiastic about the future of flight-free travel when raising our Series A. I’m thrilled that in Heartcore and Eka we’ve found partners who believe in the joy of journey-based holidays and the potential of JourneyAI to change travel for the better.”
Max Niederhofer, General Partner of Heartcore Capital, added: “Heartcore has been investing in world-class founders building the future of travel for over a decade. We felt called to support Byway’s mission to make tourism both more fulfilling and sustainable, and believe that its technology will become a key pillar for the next generation of online travel. We are thrilled to be supporting another world-class European team in travel and particularly love Byway’s collaborative, supportive, and holistic mission-driven culture.”
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Flight-free travel pioneer Byway raises £5M to make journey-based travel mainstream