The Bank of England has held interest rates at 4.25%, in line with expectations.
The Monetary Policy Committee (MPC), which sets monetary policy to meet the 2% inflation target, voted 6 to 3 in favour of leaving rates unchanged.
Three members preferred to cut rates to 4%.
Alpesh Paleja, deputy chief economist, CBI, said: “Today’s pause on interest rates is a pit stop on the way down. While inflation is likely to be bumpy over the next few months, we expect that the Monetary Policy Committee will look through this. Price pressures are gradually waning as the MPC predicted and downside risks to inflation are growing, particularly as the labour market looks to be cooling more decisively.
“Nonetheless, there is still entrenched concern among some of the MPC about the persistence of underlying price pressures. The Committee will likely want to see further evidence that indicators of domestic inflationary pressure are easing – particularly wage growth, which remains higher than the MPC would like. They will also have one eye on whether renewed conflict in the Middle East will cause an oil price shock, which would have the potential to push up inflation even further.
“The balance of all these factors reinforces our view that while the Bank will reduce interest rates further, they will do so gradually. We expect the MPC to cut rates three more times, bringing Bank rate to 3.5% early next year.”
Twycross Zoo is set to launch a new £25 million Global Conservation Centre, bolstered by £18 million in government funding. Positioned as the UK’s largest-ever public investment in a zoo, the facility aims to become a central hub for international conservation efforts, scientific research, and education.
The site will host a 200-seat lecture theatre overlooking a new Bornean orangutan habitat, research labs, wildlife classrooms, and on-site accommodation for visiting scientists and students. The initiative involves collaboration with eight leading UK universities and is expected to open by late 2026.
In addition to supporting global biodiversity, the centre is designed to generate regional economic value. Estimates suggest that the project will create 90 direct jobs and inject £3.9 million of Gross Value Added (GVA) annually into the local economy.
A new Indonesian-themed zoo zone will open alongside the centre, featuring habitats for threatened species and linked education programmes. Twycross Zoo is also expanding its conservation work in Indonesia through partnerships with Borneo Nature Foundation and Action Indonesia.
The centre supports Twycross Zoo’s wider 2030 strategy, which targets reversing IUCN Red List status for 15 species. Construction begins in June 2025, establishing the Midlands as a growing centre of applied conservation expertise.
Revised plans for the redevelopment of Nottingham Forest’s City Ground have taken a significant step forward, with approval recommended for the proposals ahead of a planning committee meeting next week (26th June).
The hybrid scheme comprises a full planning application for the redevelopment of the Peter Taylor stand (including the demolition of existing buildings/structures), new public realm, a replacement club shop, and car parking, and an outline planning application for up to 170 residential units.
This application was originally received by Rushcliffe Borough Council in November 2019, with a final revised scheme presented to the planning committee in July 2022.
Notable revisions were made, related to the reduction in scale of the residential aspect, the introduction of commercial uses to the residential building, the re-provision of the club shop within the stand, and technical work to demonstrate impacts of the development could be adequately mitigated and controlled.
While, at the time, planning committee meeting members resolved to allow the granting of planning permission, subject to conditions, due to the extended passage of time that has elapsed, it has been considered necessary to return the application to the planning committee for fresh consideration.
The plans will see the demolition of the Peter Taylor Stand, Champion Centre, Club Shop, associated outbuildings, and NRC’s Britannia Boathouse building, and the development of a new stand with capacity for 10,000 seats, including associated stadium facilities and a new club shop.
The proposal would increase the overall capacity of the existing stand by around 5,000 seats. The replacement stand would also accommodate business and commercial activities.
The replacement stand would continue to be accessed from Pavilion Road, but a new plaza would be created between the proposed replacement stand and the proposed residential building. The residential element would offer 170 apartments over 13 floors, with seven commercial units on the ground floor.
Issuing a joint statement, Nottingham Forest and Rushcliffe Borough Council said: “Nottingham Forest has been in regular dialogue with Rushcliffe Borough Council, Nottingham City Council and Nottinghamshire County Council regarding the redevelopment of the City Ground.
“The parties can confirm they are working towards the Rushcliffe Borough Council Planning Committee date of Thursday 26 June to consider the application. There will be no further comment other than as required by the relevant legal process.”
Work is progressing on a £14.5 million affordable housing scheme in Sandiacre, Derbyshire, led by Nottingham Community Housing Association (NCHA) in partnership with Moorbridge Developments. The 53-home development sits across Gas Street near the River Erewash and Erewash Canal, close to the Grade II-listed Springfield Mill.
The project includes 22 shared ownership homes and 31 for affordable rent, all managed through Erewash Borough Council’s Home Options system. Properties will range from two to four bedrooms and are designed with high energy performance in mind. Each unit features solar panels, electric vehicle charging points, private gardens, and allocated parking. All homes are built to EPC A rating using a fabric-first construction method to improve energy efficiency and reduce running costs.
NCHA’s delivery is supported by funding from Homes England as part of a strategic push to expand affordable housing across the East Midlands through 2028. The site, designed by Urban Plus and built by Moorbridge Developments, aims to blend sustainability with the area’s industrial heritage.
Construction has already started, with the first homes expected to be ready by autumn. Full project completion is scheduled for summer 2026.
Formal approval has been granted for a planning document to make new developments in Nottingham more environmentally-friendly.
Senior councillors on the city council’s Executive Board gave the green light to the Reduction of Carbon in New Development Supplementary Planning Document (Carbon SPD) on Tuesday (17 June).
SPDs add further detail to policies in Nottingham’s Local Plan. They can be used to provide guidance for development on specific sites or on particular issues, and are a material consideration in planning decisions but not part of the statutory Local Plan.
The aim of the one approved, which was created in partnership with Broxtowe Borough Council, is to promote the reduction of carbon in new developments at the earliest design stage when this can be of no cost, or low cost, to developers.
It will help the council to raise profile of the global climate crisis and encourage those companies building in Nottingham to support lower carbon use and long-term costs.
The Carbon SPD forms part of ongoing efforts to reduce energy demand, improve energy efficiency and enhance the use of renewables in new developments.
It explains how new developments can meet these requirements through:
Energy and carbon reduction: strategies include passive design and passive cooling (which minimise energy consumption and reduce heat gain), incorporation of green and blue infrastructure (how natural and semi-natural areas are connected), enhancing building energy efficiency, utilising low-carbon heat sources and technologies, and integrating renewable energy
Sustainable construction: Emphasis is placed on the prudent use of materials, including the reuse and recycling of materials, sustainable material selection, reducing embodied carbon, and promoting building reuse and retrofit
Councillor Jay Hayes, executive member for housing and planning at Nottingham City Council, said: “This is a really important document that officers have worked on jointly with colleagues at Broxtowe and I’m pleased that we’ve been able to approve it today at Executive Board.
“We’ve made a commitment as a city to jointly deliver carbon neutrality by 2028 and have been clear from the outset that’s not something that the council can do by itself. We need local organisations and industries to help – and developers are key to that.
“It can be a complex area for them to navigate but the Carbon SPD will help developers explain to our Planning Committee how they will be reducing carbon use during and after construction.
“This is a win-win situation really because it allows developers to showcase their environmental credentials and understanding of how traditional building methods must change and adapt. At the same time, it helps both ourselves and Broxtowe work towards our carbon-neutral aims.”
A £22 million deal has been finalised for the fourth phase of Derby’s Castleward regeneration scheme, introducing build-to-rent (BTR) housing for the first time in the development’s history.
The agreement brings together Lovell Partnerships and BTR developer-operator Placefirst, marking Lovell’s first BTR venture in the East Midlands. The deal extends Lovell’s role as lead contractor at Castleward, which is the city’s flagship £100 million regeneration project.
Placefirst has acquired two plots from Compendium Living that will deliver 33 single-family rental homes and 79 apartments. The handover of the first properties is scheduled for Q1 2026.
Located between Derby Midland Station and Derbion shopping centre, Castleward is set to deliver around 800 homes, commercial space, and green infrastructure by completion. The scheme plays a central role in the city’s residential pipeline and urban revitalisation strategy.
This latest phase signals growing institutional appetite for suburban BTR stock in the Midlands, underlining demand for professionally managed rental housing in regeneration-led zones.
Beth Bundonis, regional managing director at Lovell in the East Midlands, said: “Our vital work to create purposeful communities and bring forward effective housing in the East Midlands continues, with phase four – and the forthcoming phase five – adding to the vital regeneration of Derby and creating a lasting legacy built around top-quality housing.
“This deal allows us to broaden the scope of what’s being delivered in Castleward and is a first for Lovell in the East Midlands, helping to solidify us as an enabler of housing choice for the fantastic partners we work with.
“Through those such as Placefirst and Compendium Living – the latter of which has sold homes under the previous three phases – we’re able to make sure that whether they are looking to rent or buy, people can find a new home at Castleward.”
Henry Marshall, investment director at Placefirst, said: “This latest partnership with Lovell marks an exciting milestone for Placefirst as we continue to grow our presence in the East Midlands – a region with huge demand for high-quality, sensitively-designed rental homes in well-connected, vibrant locations.
“This forward-funded deal is a great example of how we work flexibly with partners to unlock opportunities and bring long-term, professionally managed homes to market – just one of a number of delivery models we employ.”
Plans to transform a long-derelict area of Mansfield town centre into social housing have been given the go-ahead.
The regeneration scheme on White Hart Street has been approved by Mansfield District Council’s Planning Committee.
The £18m development will breathe new life into the site, delivering 60 affordable homes, revitalising heritage buildings into commercial spaces, and reconnecting the area with the wider town centre. The new council homes will offer a mix of property types, including family houses and apartments for older residents.
The work is expected to begin in winter 2025 and be completed in 2028.
Councillor Stuart Richardson, portfolio holder for regeneration and skills, said: “Our White Hart Street scheme strikes a careful balance between preserving Mansfield’s rich architectural heritage and delivering much-needed regeneration.
“We’re creating a vibrant, mixed-use neighbourhood that both celebrates our industrial past and responds to the housing and community needs of today.
“This site has remained derelict for far too long and has struggled to attract private investment. It’s been crying out for a bold, deliverable vision – and this is exactly that.
“I’m thrilled we can now move forward with this transformational scheme that will not only provide high-quality council homes but also reinvigorate a key part of our town centre for the benefit of residents, businesses, and visitors alike.”
The design for the scheme was developed by Proctor and Matthews Architects, who were selected following a Royal Institute of British Architects (RIBA) international design competition in 2023, commissioned by the council to ensure a distinctive and high-quality architectural approach.
Harrison Symonds, senior associate and architect at Proctor and Matthews, said: “Our proposals for White Hart Street set a benchmark for brownfield town centre regeneration. The design integrates and revitalises key heritage buildings to form community spaces at the heart of the development.
“The new mixed-use quarter celebrates the rich history of Mansfield while responding to the intricate grain and sensitively repairing the urban fabric.
“The support given by Mansfield’s planning committee will serve as a catalyst for the regeneration of the town and provide much needed affordable housing.”
Large businesses in the Midlands are increasingly exposed to cyberattacks, with fresh data showing a clear link between company size and breach frequency – but experts are warning that smaller firms may be dangerously underestimating the threat.
According to the latest Azets Barometer, just 41% of large UK businesses avoided cybersecurity incidents in the past year, compared to 65% of smaller firms. Meanwhile, 13% of companies with revenues over £10 million reported multiple breaches.
The biannual survey, conducted by international business advisory group Azets, reveals a growing concentration of cyber risk in specific sectors. In finance, fewer than four in ten firms avoided breaches in the past 12 months. In retail and hospitality – a sector rocked by high-profile incidents – 43% stayed incident-free, with more than a third suffering at least one attack.
By contrast, lower-risk sectors like construction (80%) and healthcare (76%) reported significantly fewer breaches.
The findings come just weeks after Marks & Spencer disclosed a cyberattack expected to wipe £300 million from this year’s profits, with systems remaining disrupted for over a month. The Co-op, Harrods, and Adidas have also suffered recent attacks, highlighting the real-world impact of digital exposure.
Across all UK businesses, 58% reported no cybersecurity incidents, above the European average of 50%. About 26% suffered one breach, and 9% had multiple, compared to 11% EU-wide.
By revenue, the data shows a clear trend that as businesses grow and data volumes increase, so too does the frequency and impact of cyber incidents.
Paul Kelly, head of cyber and data privacy services at Azets, said: “The findings revealed in the latest Azets Barometer show a worrying trend for ongoing cyber-attacks on the UK’s larger, data-heavy organisations. This underscores the need for continued focus on cyber resilience, especially in higher risk sectors.
“Even though the majority of smaller organisations report no incidents, it’s a matter of when cybersecurity incidents occur, not if. Smaller organisations must continue to be vigilant and invest in cyber resilience measures to reduce the risk of incidents occurring.”
An eco-friendly secondary school for 1,280 pupils will be built in Erewash under plans given the go-ahead by the borough council.
The multi-million-pound project – featuring grassy rooftops with solar panels – will see Sandiacre’s outdated Friesland School almost completely demolished along with the former Friesland Leisure Centre, which is on the same site.
A brand new net zero campus will host 31 classrooms and teaching areas, along with a drama studio, library, dining hall, sports hall and fitness suite. A replacement main school block will rise to three storeys.
The project follows the closure of the site’s Friesland Leisure Centre. Only three buildings currently on the campus would remain – the science and technology block, the sixth form block and the performing arts block.
An all-weather pitch and multi-use games area will also be kept, along with three football pitches – but the plans include the installation of amphitheatre-type outdoor seating. This is in addition to a fenced recovery garden for pupils who feel they need a quiet space. There will also be a separate “SEND garden” for those with special educational needs.
Cllr Mark Alfrey, who is Erewash’s lead member for environment, said after the planning committee gave the green light: “I am pleased to see the development of Friesland School’s new campus, a transformative development project designed to support both education and sustainability.
“The new facilities will include environmental adaptations such as grass rooftops, solar panels and electric vehicle charging stations.
“A recovery garden and SEND garden will be included to offer an outdoor calming environment. These types of gardens are designed to stimulate the senses and provide ‘hopeful’ places to rest and process emotions.
“Replacing the main school block, the new development will feature a library, dining hall and fitness suite – providing a tremendous boost for the students of Sandiacre.
“Additionally, the upgraded sport facilities will significantly enhance opportunities for wider community engagement – promoting healthier and more active lifestyles from an early age.
“This exciting project underscores a commitment to fostering an inspiring, sustainable and inclusive learning environment for current and future generations.”
Intelligent Energy (IE), a Loughborough-based hydrogen fuel cell manufacturer, has secured a £17m programme to fast-track development of a new zero-emission hydrogen fuel cell system that could be powering commercial aircraft within the decade.
The award is from the ATI Programme, a partnership between the Aerospace Technology Institute (ATI), the Department for Business & Trade and Innovate UK. It will support Project HEIGHTS – a three-year drive to develop IE’s current 300kW modular aviation fuel cell platform for use in next-generation aircraft.
Initial applications include Electric Vertical Take-off and Landing (eVTOL) aircraft and short-range commuter planes. IE’s new fuel cell system – IE-FLIGHT™ 300 – is expected to enter early service in Part 23 aircraft (with up to 19 seats) by the end of the decade, with scale-up plans targeting larger (Part 25) regional aircraft in the 2030s.
The investment comes as aviation faces rising pressure to cut emissions.
A switch to fuel cell systems across eVTOL, sub-regional and regional aircraft, as well as Auxiliary Power Units (APUs) on larger aircraft, could reduce CO₂ emissions by up to 25.6 million tonnes per year. IE estimates the total market value – encompassing both sales and servicing revenue – is £19.6 billion, and scaling up production could create as many as 1,600 new jobs.
David Woolhouse, Intelligent Energy CEO, said: “This programme is about getting hydrogen-powered aircraft in the air, and into service at scale, as quickly as possible.
“We firmly believe that hydrogen will be the primary energy source for flight, initially for smaller aircraft but in the longer term for everything that flies. At Intelligent Energy, we have the IP built on 24 years’ experience to give us confidence that we can be the technical leader in this sector. This project supports us in making our modular system even smaller, lighter and more scalable.”
The project will be supported by the University of Sheffield Advanced Manufacturing Research Centre (AMRC), Coventry University and the Manufacturing Technology Centre (MTC).
The funding announcement marks a significant milestone for IE’s aviation division. In February, the company was named as a strategic partner in the Civil Aviation Authority’s Hydrogen Challenge programme.
IE is also expanding its UK operations. In addition to its manufacturing base in Loughborough, the company is enhancing its test and validation capabilities with a new £7.1 million fuel cell test centre opening this summer in Northamptonshire.
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