Your latest business news for Thursday, March 20, 2025.
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00:00Hello and welcome to the latest Business Bulletin on Thursday 20th March.
00:05Luxury lifestyle brand Nobo Hospitality, which is backed by Hollywood icon Robert De Niro,
00:09has unveiled plans for a landmark development in Manchester featuring a hotel, restaurant
00:13and the UK's first Nobo-branded residences.
00:16In partnership with property developer Solboy, the project will introduce the Nobo Hotel
00:20Manchester as the tallest building outside London.
00:24In a major boost to the tourism industry, it has been announced that Edinburgh will
00:27host the start of the 2027 Tour de France.
00:30The race is also set to visit Wales and England, with millions expected to line the streets.
00:35A buoyant tourism industry contributed to a year of growth at London Gatwick, with revenue
00:39climbing 11.3%, driven by growth in airline network and passenger numbers.
00:45Gatwick said it is engaging fully in the extended process towards a final decision on its plans
00:50for a second runway.
00:51Some big news from the world of utilities today, with energy regulator Ofgem fast-tracking
00:55a £4 billion investment to expand Britain's electricity transmission networks and hit
01:00the 2030 clean power targets.
01:03This streamlined process will ensure signed-off projects are ready to break ground as soon
01:06as prowling approval is granted.
01:09And finally, Yorkshire Water has been forced to pay out £40 million to address failings
01:13over wastewater and sewage by regulator Ofwat.
01:16The industry watchdog said a probe into the company found serious failures over how it
01:20operated and maintained its sewage network.
01:24That's all for today, more tomorrow.