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BBC News
a day ago
- Business
- BBC News
Ongoing Milton Keynes bridge closure leaves traders 'struggling'
A market stall trader says the continued closure of a city bridge six months after a fire has reduced his business by as much as 40%.The market, near Secklow Gate bridge in Milton Keynes, reopened in January but the road remains closed off because of damage to the Avta Singh, who has run a clothing store there for 37 years, believes older customers who come to the city by bus and see the closed route "think the market is closed as well".A spokesperson for Milton Keynes City Council confirmed the bridge would remain shut until September, adding: "Several different areas and elements of the bridge were damaged by the market fire", which had "complicated matters". In December, 11 fire appliances and crews tackled the blaze at the market, next to the Centre:MK shopping centre. A Thames Valley Police spokesperson said it had been caused by an electrical fault. The covered market is owned by the Milton Keynes Development Partnership and Milton Keynes City Council, and has a mixture of fixed stalls and casual Singh said the fire meant he had lost between £130,000 and £140,000 of stock due to smoke damage and added that "we are going through a very hard time now, nobody is helping, and the council was still charging the full rent". It is the second time the city centre bridge had been closed for a long period, after it shut for 18 months following a separate fire in January council spokesperson said the authority had been "working with specialists in fire damaged structures, alongside testing and concrete analysis"."We have now got to the bottom of what repairs are needed and that work is on schedule, so the bridge should re-open fully in September," they added. However Ayat Hassany, who had been selling toys on the market for five years, said he had lost as much as 15% of sales since the says the road closure means customers "park somewhere else and then go to the city centre to shop instead".He said the fire meant the market had been re-arranged, so he had to move his stall, and said traders were left "struggling".The council spokesperson said: "We have been working with traders to boost their profiles online," adding: "Buses, taxis and areas of free parking have remained open which we know is important to customers." Paul Hobbs has worked on the market for 38 years and says his almost lost his store in the fire. He has lost 50% of his described the financial hit from the fire as "massive" and that the loss of trade for his business was in the tens of thousands and had "ruined Christmas".However he said they were "back up and running" and he was not concerned by the continued closure of Secklow felt people had "got used to where to park and where to come in" and added that "you have got to make sure it is safe" before reopening the road again. Follow Beds, Herts and Bucks news on BBC Sounds, Facebook, Instagram and X.
Times
a day ago
- Business
- Times
Keir Starmer tells business leaders: ‘We've asked a lot of you'
Stepping on stage at the QEII Centre in Westminster on Thursday, the prime minister was full of thanks and acknowledgement of the effect the government's cost increases have had on businesses. Addressing the annual British Chambers of Commerce conference after an earlier breakfast meeting with bosses of more than a dozen companies, including Heathrow, Spire Healthcare and NatWest, Sir Keir Starmer signalled an attempt to rebuild strained relations. 'I want to begin by thanking you all because look, I fully acknowledge here that this year, as we've had to fix the foundations of our country, deal with the unprecedented mess that we inherited, we've asked a lot of you. I understand that,' he said. • 'Freeze taxes' says business lobby after national insurance hit After being wooed in the run-up to July's election victory, businesses have since hit out at the 'size and scale' of Labour's rise in employers' national insurance contributions, announced in October's budget and introduced in April. A new survey by the BCC, one of Britain's big five business lobby groups, released before its conference of mostly small and medium-sized businesses, found that a third said they have either made staff redundant or are planning to as a 'direct result' of the increase. Shevaun Haviland, the BCC's director general, in her conference speech, pressed the government to commit itself to freezing business taxes. In Starmer's charm offensive to the hundreds of delegates sitting before him in the vast conference room he gave no such commitment. But having unveiled the spending review for the parliament this month, as well as the industrial, infrastructure and, on Thursday, trade strategies, the prime minister said the government had shown a 'clear shift' to the 'next phase' of 'investing in the future of our country'. He added: 'And that means that we have to back you to the hilt. Because your members are the engines of growth in every community across the United Kingdom.' Monday's industrial strategy is underpinned by slashing the internationally uncompetitive costs of the economy's most intensive energy users and finally tackling the country's chronic skills shortage. The trade strategy includes a focus on pursuing smaller, faster trade deals with the likes of Brazil, Thailand and Kenya, rather than bigger free-trade agreements; closer ties with 'like-minded' nations such as Japan and Singapore; a £20 billion increase in the capacity of UK Export Finance, the government's credit agency for exporters, to £80 billion; and a consultation on anti-dumping measures for steel. One senior business leader, speaking privately on the sidelines of the conference after Starmer's speech, said the prime minister 'really is listening. So I think that is all positive.' But they added, talking of the broader government: 'They don't quite recognise the impact of the taxes and national insurance impact. It is significant. I mean you can't just absorb those. You have to do something about it. It is impacting jobs.' They said: 'Everybody in the room I talk to is making redundancies … so they're [ministers] going to have to do quite a lot of work on the productivity side of the balance sheet to offset what they did.' On stage, in a conversation with Haviland, Thomas Woldbye, the chief executive of Heathrow, welcomed the chancellor's green light this year for a third runway at the airport, a big infrastructure project that could boost Britain's productivity. Woldbye said Heathrow was 'central' in 'facilitating and delivering' the government's trade, industrial and infrastructure strategies. Heathrow is submitting its formal proposal to the government this summer and ministers are targeting planning permission this parliament. Woldbye said the chancellor's deadline was 'very, very ambitious' and required work on planning, as well as modernising the UK's airspace. Another significant concern of business is the government's contentious Employment Rights Bill. Starmer told the conference: 'I get the concerns,' but declined to signal further concessions as officials work with business on the reforms. The workers' rights changes will introduce day-one rights, better access to flexible working, and hand greater powers to trade unions. The prime minister said: 'Many people have recognised that a secure, protected workforce is good for business; drives up productivity.' Jonathan Reynolds, the business secretary, who also attended the conference and the earlier breakfast with bosses, told reporters on the sidelines that he was 'absolutely certain' the government could address the 'two principal concerns' of business — probation periods and access to zero-hour contracts — 'not through any change of policy, but through our existing approach'. • Workers' rights bill will stymie growth, not encourage it The senior business leader, who was speaking privately, said to capitalise on the productivity benefits of artificial intelligence, businesses needed to restructure the workforce and operations, yet the employment rights reforms 'as far as I can see, freezes everything … you're going to get into a very complex process'. Closing the conference, Kemi Badenoch, the leader of the opposition and former Conservative business secretary, reiterated that the Tories had lost the trust of business before last July's general election, but citing inflation, growth and unemployment, said Labour had since delivered 'change for the worse and it didn't have to happen'. Taking aim at the employment rights reforms — a 'huge problem' — and business taxes, Badenoch said: 'The rise in national insurance is killing jobs. It is making it impossible for businesses to grow.' Seeking to 'win back trust', she told delegates: 'We have to unleash the animal spirits of business.'
Entrepreneur
2 days ago
- Business
- Entrepreneur
5 Key Lessons from Mukesh Ambani's Leadership Playbook
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. From betting against conventional wisdom to building an institutional ethos grounded in societal value, Mukesh Ambani's leadership journey offers more than corporate lessons. As Asia's business landscape becomes increasingly volatile and tech-driven, the Reliance model may serve as a rare compass. Mukesh Ambani, chairman, Reliance Industries, lays out the guiding philosophies that have shaped Reliance Industries' evolution from a modest textiles operation into one of Asia's most consequential conglomerates. Drawing from decades of experience, Ambani's remarks offer practical insight into risk-taking, innovation, institutional culture, and building for the long term. Here are five powerful takeaways: 1. Vision anchored in impact, not wealth Ambani doesn't mince words about what drives business at Reliance. Profit has never been the North Star; purpose has. Recounting his father Dhirubhai Ambani's founding philosophy, he recalls: "If you want to start a business to be a billionaire, you are an idiot… If you want to start a business to impact a billion people, then you have a good chance of success." This belief, embedded deeply into the company's DNA, has guided Reliance's expansion; from polyester to petroleum, from telecom to green energy, with a consistent eye on societal transformation. "Our vision and purpose of doing business have to be impact-led," Ambani emphasized. That core mission has not changed; only the business strategy has evolved to meet new challenges. 2. Bet big but prepare for the worst Risk, for Ambani, isn't a gamble; it's a calculated obligation. He applies a strict rule before diving into any major venture: "You start off by thinking in terms of what the worst is that could happen, and then you have to survive that." This mindset formed Reliance's boldest leap, investing $25 billion in Jio at a time when few believed India was ready for advanced digital infrastructure. Ambani told his board that even if it failed financially, it would still be "the best philanthropy that we will have ever done in India because we will have digitized India." 3. Reinvent relentlessly Ambani is not interested in building businesses that merely survive market cycles. His commitment is to build institutions. "Reliance is a process. It's an institution that should last," he said, echoing his father's charge. That institutional longevity is fueled by continuous reinvention. "Even today, we reinvent our business every three, four, or five years," he explained. Whether it was moving early into 4G, launching the world's largest start-up refinery in Jamnagar, or now investing in clean energy and deep-tech manufacturing, Ambani remains convinced that static models are a liability in fast-changing environments. Legacy, for him, is not about what's been built but how well it adapts. 4. Culture is the strongest insurance policy For Ambani, Reliance's internal culture is grounded in sincerity, transparency, and shared values. It's how the company mitigates risk and scales complexity. Ambani talks about making eye contact with employees as a litmus test of sincerity: "We should be able to look at each other and say we are not embarrassed." The foundation of Reliance's people philosophy lies in three Cs: character, competence, and culture. Character tops the list. "Competence can be built," he says, "but character is essential." In a system that empowers ordinary people to achieve extraordinary things, culture acts as glue, compass, and engine. 5. Own the future or fall behind Ambani's approach to technology is aggressive and unapologetic. "We have to be owners of technology. We must be innovators," he says, dismissing the old model of relying on foreign licenses. Reliance's 5G rollout, where the company developed most components in-house, reflects this shift. His ambition for the next decade is to turn Reliance into a "deep-tech and advanced manufacturing company" with a unique play in AI: not racing into high-risk areas like GPUs, but focusing on downstream applications that solve real problems. The strategy has helped attract top talent with purpose, not just perks. "If you are clear about your goal, and you know how to use technology, then you will achieve your North Star." Mukesh Ambani was speaking on McKinsey's Leading Asia interview.
BBC News
7 days ago
- Business
- BBC News
Cambridge trader uses horse and cart to avoid Mill Road fine
A trader has taken to using a horse and cart to avoid a longer journey and a fine after restrictions were introduced to a Ball, who runs a carpet shop in Cambridge, said a two-minute journey across the Mill Road bridge had become a longer 90-minute trip in the car after most vehicles were banned from using the crossing."The council is forcing us to revert back to the old ways from the 18th Century," he County Council said it wanted the area to be "a more enjoyable, safer place to visit" and the travel restrictions via the bus gate would help achieve this. "I can't take a delivery on a cycle, I will use my horse and cart to go over there because they can't fine my horse and cart," said Mr Ball."We've got to get our deliveries over the bridge and this is the only feasible way."As a member of the Friends of the Mill Road Bridge 2 campaign group, Mr Ball was at the High Court last week challenging the council's traffic restriction order on the bridge, which started in emergency services, taxis and blue badge holders' are among those who can still use the bridge."We need a solution. It's just devastating for businesses, on either side of the bridge," Mr Ball said."The solution is to open the bridge to all traffic, make the cyclists use the designated cycle bridge which is 100 meters down the track. Or make the cyclists dismount and walk over the bridge." Alex Beckett, chairman of the highways and transport committee at Cambridgeshire County Council previously said: "Mill Road is the centre of a community. We want it to be a more enjoyable, safer place to visit and to encourage more people to come into the area. "Reducing motorised through traffic and installing the bus gate will help achieve this."What's important is that we now move forward with developing plans for public realm improvements supporting local businesses and allowing Mill Road to thrive."Since introducing the bus gate the council has issued on average 100 fines a day to drivers illegally using the bridge. The High Court is expected to come back with its decision on the bridge appeal in a few weeks' time. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X.
Washington Post
20-06-2025
- Business
- Washington Post
Supreme Court rejects toy company's push for a quick decision on Trump's tariffs
WASHINGTON — The Supreme Court on Friday rejected an appeal from an Illinois toy company pushing for a quick decision on the legality of President Donald Trump's tariffs. Learning Resources Inc. had asked the justices to take up the case soon, rather than let it continue to play out in lower courts. The company argues the tariffs and uncertainty are having a 'massive impact' on businesses around the country and the issue needs swift attention from the nation's highest court.
