Ferguson Marine loses out again on new ferry contract in 'disappointing' blow

25-04-2025

The Ferguson Marine shipyard on the River Clyde has lost out again on a contract to build new ferries. The nationalised firm, based in Port Glasgow , had submitted a bid to build two new small vessels for Western Ferries' Gourock to Dunoon route on the river, which was used by 1.2 million passengers last year. However, the BBC reported on Friday, April 25 that the ferry operator announced Cammell Laird, based at Birkenhead, Merseyside, was its preferred bidder to take on the contract. Two of Western Ferries' current fleet were built in the early 2000s when the Ferguson Marine yard was privately owned . The decision has left the firm still with no new orders, after it was snubbed in favour of a Polish yard for a contract to build seven new ferries in March, which was described as a "huge blow" . David Dishon, chief financial officer at Ferguson Marine , said of the latest decision: "Having submitted a high-quality bid, this news is disappointing. "However, Ferguson Marine remains focused on securing new work from a range of sources to build its pipeline." Mr Dishon said private investment for new vessels was "vitally important" to the economy and congratulated Cammell Laird on their winning bid. He added: "We wish both companies every success and hope to continue our long-standing working relationship with Western Ferries in the future." Ferguson Marine, which employs around 300 workers in an area of high deprivation, was nationalised in 2019 after struggling to deliver two new car ferries, MV Glen Sannox and MV Glen Rosa , the latter of which has still not been completed. MV Glen Sannox received praise from passengers after it was launched on the Arran route in January. However, it was pulled from service just two months later after a hairline crack in its hull led to a leak. It was quickly repaired and the ferry returned to service two days later.

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Santander Bank Polska expects Erste transaction to close by year-end

Reuters

3 days ago

Reuters

Santander Bank Polska expects Erste transaction to close by year-end

GDANSK, July 30 (Reuters) - Santander Bank Polska ( opens new tab, which is being acquired by Austria's Erste Group, reported a 28% rise in second-quarter net profit on Wednesday, helped by higher interest income and lower loss provisions. Second-quarter profit was 1.02 billion zlotys ($275 million), ahead of the 872 million zlotys forecast in a Reuters poll. Net interest income for the quarter rose to 3.18 billion zlotys, up from 2.9 billion zlotys a year ago and slightly above analysts' estimate of 3.16 billion zlotys. Spain's Santander ( opens new tab, the bank's parent company, sold a 49% stake in its Polish unit to Erste Group ( opens new tab in May for 6.8 billion euros ($7.86 billion), in one of the biggest cross-border deals in Europe in recent years. The transaction, which cuts Santander's stake to 13%, is expected to close around the end of the year, Santander BP CEO Michal Gajewski said during a press conference. "A major advantage of this planned change will be international cooperation and the ability to support our clients in new and very promising markets" he added. The second-quarter results were supported by a sharp decline in provisions for expected credit losses, which dropped to 123.4 million zlotys from 292.1 million zlotys a year earlier. However, the results were hurt by legal provisions related to its Swiss franc mortgage portfolio, after the bank warned in June that a revised risk estimate would reduce second-quarter pre-tax profit by 697.1 million zlotys. The legal provisions for such loans totalled 738.8 million zlotys in the quarter. The company's results also reflected the sale of its 60% stake in Santander Consumer Bank to its parent group in June, which resulted in a loss of 355.6 million zlotys as the unit was reclassified as a discontinued operation. Gajewski said it was too early to discuss a potential change of name and logo following the takeover by Erste. Erste said it expects the deal to boost its earnings per share by more than 20%, while Santander projected a net capital gain of around 2 billion euros from the transaction by year-end. ($1 = 3.7035 zlotys) ($1 = 0.8653 euros)

'I found a way to get £85 anti-ageing eye serum for under £9 in LookFantastic deal'

Daily Mirror

4 days ago

Daily Mirror

'I found a way to get £85 anti-ageing eye serum for under £9 in LookFantastic deal'

The Beauty Icons Edit is up for grabs at £65 and is packed with over £245 worth of products - that's a saving of £180 LookFantastic has just dropped a box brimming with some of the most coveted, highly-rated must-haves in the beauty realm. Packed with skincare, makeup, bodycare and haircare champions, this selection is an ideal way to elevate any summer beauty regimen. The Beauty Icons Edit is up for grabs at £65. And by our calculations, it's packed with over £245 worth of products - that's a saving of £180, reports Essex Live. The treasure trove contains eight items, five of which are full-size, with each one working out at £8.13 each. Featured brands include the likes of ELEMIS, Sol de Janeiro and OLAPLEX to name but a few. One of the items, the Murad Retinol Youth Renewal Eye Serum 15ml, is worth more than the price customers pay for the entire edit, essentially rendering the rest of the contents free. Usually £89, it's enriched with three different types of retinol, creating the illusion of firmer, plumper skin around the eyes. Here's everything shoppers will find inside: Murad Retinol Youth Renewal Eye Serum (15ml) ELEMIS Pro-Collagen Marine Cream (15ml) Liz Earle Cleanse and Polish (100ml) OLAPLEX No. 3 Hair Perfector Pre-Shampoo Strengthening and Reparative Hair Treatment (100ml) Morphe Jet Setter (3pc) Sol de Janeiro Brazilian Bum Bum Cream (75ml) Lancôme Génifique Ultimate - Dual Repair Augmented Serum (7ml) CeraVe Hydrating Cleanser with Hyaluronic Acid for Normal to Dry Skin (20ml) The Beauty Icons Edit (Worth Over £245) £245.00 £65.00 LookFantastic Buy here Product Description But it's not the only money-saving haul to have hit shelves in recent weeks. Elsewhere, the OK! Beauty Box is a monthly beauty subscription service that delivers a curated selection of beauty products, including full-size and travel-size items, to your doorstep. It's designed as a convenient and affordable way to discover new beauty products and brands, with a focus on skincare, make-up, hair care, and wellness items And at Boots, the £55 Summer Love Island Beauty Box contains £290 worth of makeup and skin, body and hair care essentials. It's earned a 4.6 rating from seven reviews, one of which said: "Amazing products, perfect for summer, I can't wait to try everything,". The LookFantastic edit has also been racking up rave reviews from fans. One customer wrote: "I have just brought two of these for presents, they are full size products and very good value." Another added: "Huge fan of Morphe, Cerave and OLAPLEX so this was no brainer! Fantastic value for money and looking forward to giving the other products a try." A third said: "I love all the items, only I wished the Bum Bum Cream was the standard big size you can normally buy. I bought it because I wanted to try the Murad eye serum which is worth well over the price of the entire box." Shoppers can snap up the set for £65 here.

'I bought a seaside flat in a vacation hotspot - it's cheaper than renting'

Daily Mirror

5 days ago

Daily Mirror

'I bought a seaside flat in a vacation hotspot - it's cheaper than renting'

When the Polish journalist told her friends she planned to buy a home, they laughed A travel writer purchased a beachfront apartment in a popular holiday hotspot and argues it is more cost-effective than renting. Karolina Wachowicz grew frustrated with rocketing rental prices in her new city, Barcelona, Spain. ‌ Even still, when the Polish journalist told her loved ones she intended to buy instead, they laughed, believing the Spanish process would be too much for her. "If you've ever tried to rent a flat in Barcelona, you know the struggle," Karolina, who originally comes from Kraków, told What's The Jam. ‌ "After a year of paying sky-high rent and handling endless paperwork for agencies, I decided to buy my own place with a terrace. ‌ "It turned out to be far simpler and more transparent than the chaos of renting." In Spain, tenants usually need to submit numerous documents to rent a property legally, such as their passport, employment contract, and proof of income for several months. Renters must also obtain a Spanish identification number for foreigners (NIE), and many agencies require interviews where prospective tenants compete for the property. Karolina said: "The whole process can stretch for months, and fees are hefty. ‌ "Agency commissions often start at between €700 and €800, plus additional deposits, typically two months' rent, and your first rent upfront. At the moment, average rental prices are higher than ever. "A one-bedroom apartment in central Barcelona can easily cost around €1,500 a month or more, depending on the location and standard. This was what I paid for rent before buying my place. "But now it's not unusual to see even higher prices." Frustrated with the rental cycle, Karolina began looking into purchasing her own apartment. ‌ The 35-year-old continued: "Despite all the warnings from friends, the process turned out to be quite straightforward. I found the right property and negotiated with the agency. "I then signed a preliminary agreement and paid a small deposit. I secured a bank mortgage - they typically ask for a 20% down payment, although some banks offer mortgages for just 10% or even 0%, depending on certain conditions. ‌ "I also had to provide my NIE number and a work contract before finalising the purchase at the notary." In the end, Karolina said her apartment cost just over €180,000 (£156,886). The travel writer claimed that her main initial expenses included the 20% down payment she saved beforehand and a 10% property transfer tax. She added: "The paperwork was manageable compared to the endless files demanded for renting, and the entire process was much more efficient. "I moved in quickly, but the apartment needed a major refresh. I invested most of my remaining savings into a complete bathroom renovation, handled painting and cleaning by myself, and found furniture at flea markets and through local second-hand groups. ‌ "Budgeting was crucial, so I got creative, refurbishing the old terrace benches and installing affordable artificial grass on the terrace. From start to finish, purchasing was less stressful and actually faster than many rental applications. "Even waiting for mortgage approval took less time than waiting for some agencies to respond. The renovation cost about the same as an expensive holiday, but now I have a place I can proudly call home. "Not only because I feel good here, but also because of the work I put into it. And my monthly costs are less than half of what I would pay to rent a similar place in today's market."