The former owner of a Derbyshire curry house who was sent to prison for Covid fraud has been ordered to repay more than £36,000. Syed Hussain was jailed for 18 months and banned as a company director for three years in August 2023 after admitting charges of fraud by false representation and an offence under the Companies Act. Hussain fraudulently secured a £50,000 Bounce Back Loan in May 2020 while serving a suspended sentence for breaching fire safety regulations at the former Moja Indian restaurant in Matlock. The 24-year-old then dissolved his Magic of Spice Ltd company on the same day the funds appeared in his bank account. Hussain, of Provident Street, Derby, was ordered to pay £36,200 during a confiscation hearing at Derby Crown Court on Friday 17 May. Mark Stephens, Chief Investigator at the Insolvency Service, said: “Syed Hussain’s cynical actions in exploiting a taxpayer-backed scheme introduced at a time of national emergency were completely unacceptable. “His behaviour in failing to notify the bank when he was applying to have his company struck off the register was equally calculated and pre-planned.

“The Insolvency Service will not tolerate deliberate abuse of the public purse which is why Hussain now faces a financial penalty to go with the time he has spent behind bars.”

Hussain applied for the maximum permitted £50,000 loan in May 2020, claiming on the application form that the turnover of Magic of Spice was £200,000. He later said putting this figure down was a mistake. Hussain said that he had decided to close down the company based on Dale Road in Matlock when he made the application as it had been struggling for the previous year. The loan application was made by Hussain when he was only months into a suspended sentence for breaching fire safety regulations at his restaurant. Hussain transferred £30,000 of the loan to two family members who used the money for their own personal spending. A further £10,000 was used for personal expenses such as hotels and car hire. No evidence was provided to the Insolvency Service of the money being used for business purposes. Hussain also made no repayments to the loan despite this being a condition of the scheme. Derby Crown Court gave Hussain three months to pay the money or face an additional 18 months in prison. Hussain would still owe the full amount ordered in the event he fails to comply and is returned to prison.

The UK remains a ‘prime’ destination for global investment, as deal appetite returns for logistics and supply chain management businesses. In the first quarter of 2024, 38% of deals in the sector were cross-border, highlighting the growing interest from international investors. High profile transactions included Elanders’ acquisitions of Bishopsgate Specialist Logistics, Yusen-owned ILG’s acquisition of Global Freight Solutions and Hapag Lloyds’ acquisition of ATL Haulage Contractors. The rise in cross-border activity comes as overall deal activity in the sector fell marginally in Q1. Between January and March 2024, 26 transaction were completed, compared to 27 in the previous quarter. However, total disclosed deal value rose to £372 million, up from £53 million for the previous three months. According to the latest report from accountancy and business advisory firm BDO LLP, the ‘UK M&A Update – Q1 2024’, in the first quarter of the year 42% of deals were tech-related, demonstrating that innovation is a driving force in the market, as companies seek to optimise operational performance to improve margins. Jason Whitworth, M&A partner at BDO LLP, said: “Following on from 2023, we continue to see venture capital targeting next generation technology and growth. Investment activity within the robotics and the drone delivery operations sector is still gaining momentum. “Albeit in its infancy, there is an argument that drone technology is paving the way for a revolution in delivery services, offering a sneak peek at a future where speed, efficiency and accessibility are dramatically enhanced.” He continued: “When it comes to overseas interest, with a scarcity of quality mid-market businesses not already controlled by larger global groups, there has been heightened interest in remaining opportunities, creating a real value end game for those businesses building scale and a differentiated service offering.” Deals also included London-based Skyports Series C funding led by Spain-based ACS Group, a key player in the infrastructure and construction industry. The $110m funding is set to be instrumental in advancing Skyport’s Infrastructure and Drone Service business. Elsewhere, UK logistic company EFS Global acquired pallet and parcel distribution specialists Leeds Parcel Company, Pass the Parcel and YDL; and UK delivery and logistics service provider Yodel Delivery was acquired by YDLGP, a newly formed company backed by a consortium of investors, including boutique investment bank Solano Partners Ltd, and the leadership team behind Shift, the growing UK-based logistics platform. Whitworth added: “Since the latter part of 2023, we have seen a steady stream of deal activity as companies strive to shake off the uncertainties of the past and gear up for the future. There has been an increasing number of bolt-on strategic acquisitions to bolster business growth and build scale. “What is noticeable about deal activity in Q1 is the lack of primary private equity investment, with only one direct investment deal during the quarter by HIG, which acquired DX Group. “Private equity firms appear to be in a holding pattern, waiting for clearer signs of industry-wide trading performance improvement before committing to new investment. However, private equity backed or cash-rich logistic firms are continuing to consolidate, developing their buy-and-build strategies.”

An effort led by Morgan Sindall Construction, Nottingham Trent University, and the software company ConstructSys to use AI for reducing the carbon impact of buildings received a boost with a nearly £1 million grant from Innovate UK. The award will support the significant enhancement of an existing and proven Whole Life Carbon measurement tool, CarboniCa, which was launched by Morgan Sindall Construction in 2021. CarboniCa is already being used on 100+ large building projects each year and has to date saved over 30,000 tonnes of carbon. The Innovate UK funding will allow the partners to develop novel algorithms that automate the process of data collection and evaluation in Whole Life Carbon Assessments (WLCA), supporting people in decision making, which speeds up the process and achieves productivity gains. The UK construction industry is on the cusp of a new era where WLCAs have a much greater weighting. WLCAs combine carbon measures for day-to-day occupancy with those for embodied emissions from materials and energy used to produce and assemble materials in construction and over the life of an asset. They are on the critical path of efforts to achieve Net Zero as around 25% of UK carbon emissions are linked to the built environment and materials such as steel and cement alone account for around 15% of global carbon emissions. Inputting data and producing high-quality assessments is a time intensive activity. By harnessing AI capability, the new system will accelerate creating WLCAs by as much as 85%. The significant time and carbon savings will in turn pave the way towards much higher levels of WLCA adoption in the sector as a whole and therefore greatly assist in the UK’s efforts to achieve carbon reductions. Innovate UK has made a grant of £947,000 against the three partners’ research and development costs of £1,418,000. The award recognises that innovation is required to support the rapid adoption of WLCAs within the UK construction industry, with governments around the world increasingly mandating their use. It also noted that carbon pricing, which makes emitters pay for the true cost of pollution, is being considered for introduction into the building sector. Its arrival in the UK would further stimulate WLCA demand and introduce commercial incentives to reduce carbon. Tim Clement, Director of Social Value & Sustainability at Morgan Sindall Construction, said: “We started working on the research and development phase of CarboniCa back in 2017 and the Innovate UK funding award recognises the enormous potential for further development of the tool we have already in service and helping reduce carbon in a transparent, credible way. “Innovation in this area has much to contribute in terms of increasing confidence in decision-making around sustainability, something that can only happen with credible data outputs being made more readily available. We have an established and highly effective working relationship with our research and development partners at Nottingham Trent and ConstructSys respectively. “Our next step is building a cutting edge AI engine into a state of the art system that drastically reduces the time taken to produce an accurate WLCA. The funding means we can develop a series of new algorithms to exploit the growing dataset of actual project data already inputted into the CarboniCa tool, streamlining the process of creating early-stage benchmarks for different building types. The algorithms will also generate insights based on human-curated product databases, to further the tool’s mission as a carbon reduction tool.” NTU’s research team operates within the School of Architecture, Design and the Built Environment. It is co-led led by Professor Amin Al-Habaibeh, Professor of Intelligent Engineering systems, and Dr Emmanuel Manu, Associate Professor in Construction Management. Professor Al-Habaibeh said: “This is a great opportunity to implement cutting-edge deep learning AI technology to enhance productivity, improve competitiveness and speed up the evaluation process of building’s carbon footprint. This will enable a better material selection and more optimum designs to address climate change. “This collaboration with Morgan Sindall and partner organisations will bridge the gap between academic innovation and implementation and will also benefit NTU’s future AI teaching and training in wide range of disciplines as sustainability is at the heart of everything we do.” Dr Emmanuel Manu said: “The construction and operation of buildings contribute to about 33% of greenhouse gas emissions and 40% of global energy consumption. This makes it important to address the whole life cycle of construction projects starting from the design stage to reduce carbon emissions.” AI is a general term for describing when a machine mimics human cognitive functions, like problem-solving, pattern recognition, and learning. Machine learning is a subset of AI and uses statistical techniques to give computer systems the ability to ‘learn’ from data, without being explicitly programmed. A machine becomes better at understanding and providing insights as it is exposed to more data. The advance of these technologies in the construction industry is one of the industry’s most compelling trends. “Digital systems such as Building Information Modelling (BIM) have been around for a long time now and, when harnessed effectively, make a hugely positive impact in terms of successfully delivering projects,” added Tim Clement. “When it comes to the creation and adoption of next generation solutions, such as harnessing AI and machine learning, there are even bigger challenges, such as making sure we use the technology in a highly transparent, human-centred way. That’s why the innovation we are applying to here is important and can help set a path to a lower carbon future.”