Watch: Business Briefing: 23 July 2024
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00:00Announcements from Farnborough Airshow, plans for a hotel on the site of a nightclub,
00:04an expansion for a well-known manufacturer, feature in today's business briefing.
00:12I'm Stephen Farrell. I'm Ben Butler.
00:15Starting off today we've got Farnborough Airshow this week,
00:18one of the key events on the aerospace calendar.
00:20Big event.
00:21Yeah, and to start it off, Keir Starmer was visiting the airshow yesterday,
00:27met with some key figures, so clearly important for the government to be there and focus on the
00:32sector. The new Business and Trade Secretary, Jonathan Reynolds, announced more than £100 million
00:38funding for various aerospace tech projects to support greener air travel.
00:44Big investment there.
00:45Yeah, so those are going to be led by GKN Aerospace,
00:49Queen's University, Rolls-Royce, Short Brothers and Zero Avia.
00:54There was a second announcement as well for £33 million funding
00:58to support more than 20 projects in the UK space sector.
01:01So some real big money there.
01:03Yeah, already just in the first couple of days of the event, some real big announcements,
01:07so it runs through to Friday, so want to keep an eye on. I'm sure there'll be more
01:11announcements as the week goes on.
01:12Definitely, yeah.
01:13Have you got some big news from Wales?
01:16Yes, so we've got a specialist hotel that could soon open at a former nightclub in Cardiff.
01:22It used to entertain Welsh drag lovers for more than a quarter of a century.
01:27Minsky's Show Bar in Cafes open every weekend for cabaret shows before closing after 25 years in
01:34March 2020 following the Covid.
01:38There's now an application to Cardiff Council for change of use of the vacant venue's ground
01:42floor to a hotel, so it's proposed to operate as an attractive alternative hotel for specialist
01:48adult-only group bookings. You'd have birthday parties, weekends away and stag hen parties,
01:54with entertainment opportunities provided.
01:56And the new venue would be able to accommodate up to 24 people per booking.
02:01So yeah, Cardiff Council has now granted permission for the development,
02:06so that's certainly one to look out for in Cardiff.
02:09Have you got any stag plans or birthday plans?
02:12Yeah, no, sounds like a really interesting development.
02:14Definitely.
02:16Over in Yorkshire today, we've got news from one of the region's best-known manufacturers,
02:20Sheffield Forgemasters.
02:21Big name, that.
02:22Yeah, so they've submitted a pre-application for a new machinery facility not too far from
02:28Meadow Hall that would measure 323,000 square foot.
02:31Big space.
02:32Yeah, big space. And they said it will feature some fairly major new machineries,
02:38really sort of cutting-edge technology there.
02:40Now, Forgemasters was acquired by the UK Ministry of Defence back in 2021,
02:44and this facility would be designed to sort of support the UK's defence projects.
02:49They've also said it's going to help with the creation of highly skilled jobs.
02:52Always good.
02:54Really big development there.
02:56Last thing from Stairbinny, who's from the South West?
02:58Yes, so we've got plans being drawn up for a scheme in Bristol City Centre,
03:01which would see three buildings comprising hundreds of homes being built.
03:06The scheme's being lined up for a site at Holton Street,
03:09which currently has three buildings.
03:11They'd all be demolished to make way for the development.
03:14One of the buildings would rise as high as 18 storeys, and that'd include 500 student beds.
03:20The other two buildings would be an affordable residential accommodation block of around 10
03:25storeys, that'd have 56 apartments.
03:27And there's also a build-to-rent building, which would rise as high as 11 storeys,
03:32and that would provide 200 residential apartments.
03:35The development would also include a courtyard, public open space and cycle spaces.
03:40So, yes, that's big property news there for Bristol to look out for going forward.
03:45Yes, some news of some really big developments then today.
03:48And for more information, go to insidermedia.com.
03:51You'll also be able to sign up for the newsletters and find out about events.
03:54So, thank you for watching.
03:55We'll see you again next time.
03:56Bye.