Daily business briefing in under two minutes March 20

Your latest business news for Thursday, March 20, 2025.

Transcript

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.