Business News

The Oxford-Cambridge arc Growth Corridor will be ‘Europe’s Silicon Valley’ according to government sources.

The Chancellor is expected to share plans for a new Development Corporation for Greater Oxford later this week, slashing burdensome red tape to regenerate the area, to boost jobs and growth. Development corporations have a history of transforming local areas - including in Canary Warf, and Stratford where the London Legacy Development Corporation regenerated the area and delivered the 2012 Olympic and Paralympic Games in East London. 

It follows the launch of a consultation on a Greater Cambridge Development Corporation earlier this year and would mean both cities can plan and deliver growth more effectively. Development Corporations are focused on speeding up major development and regenerating key sites to bringing in new investment to boost homes, jobs and growth.

This bolsters the government’s ambition to make the corridor the Silicon Valley of Europe, the global hub for advanced manufacturing, AI and life sciences, boosting the UK’s economic growth. The Chancellor is expected to set these development corporations up for success by doubling the funding available to buy land and build the supporting infrastructure from £400 million to up to £800 million.

The funding would also be used to back new housebuilding in the region as well as high spec research labs – helping to tackle everyday cost of living pressures by boosting housing supply, cutting commuting times and creating more high‑paid jobs across the region. An intention to consult on the plans for Greater Oxford will be unveiled this week ahead of the Chancellor’s Mais lecture on Tuesday (17 March) where she will set out the areas with the greatest growth opportunities for the UK in the decade to come and how in a new era of global uncertainty this government’s economic plan is the right one.

A government source said: “Our plans for the Oxford-Cambridge corridor are ambitious. And the prize on offer is to have the Silicon Valley of Europe here in Britain – bringing more jobs and more vibrant places to live.

“We have the right economic plan and this week the Chancellor will set out how the regions are crucial to the next decade of growth.”

More people than ever before are looking to kickstart their careers in the energy industry, with ScottishPower receiving a record-breaking number of applications for its 2026 apprenticeship programme.

Artificial intelligence is increasingly being linked to job cuts across the global tech industry, with new data suggesting that around one in five layoffs this year are connected to companies adopting AI tools.

Rachel Reeves has written to the Competition and Markets Authority requesting it stays on high alert for unjustifiable price rises on petrol, diesel and heating oil, to support families and businesses.

More than 1,000 residents have been supported into employment thanks to the council’s Wolves at Work Jobs, Skills and Careers Hub at i10.

Cytec Solutions Limited (Cytec), a leading software provider with a focus on corporate governance, compliance, and equity management, have announced the acquisition of Howells Associates Limited (Howells), a trusted UK provider of employee share plan administration and insider list management solutions.

Nahda Capital Partners, a newly established private equity platform headquartered in ADGM, has filed for the registration of its inaugural private equity fund this week as it prepares to launch investment activities across the Gulf Cooperation Council (GCC).

The African Energy Chamber (AEC) – the voice of the African energy sector – is calling for an industry-wide boycott of the upcoming Africa Energies Summit.

The ITFC (International Islamic Trade Finance Corporation), a member of the Islamic Development Bank (IsDB) Group, signed a US$ 1.0 billion Five-Year Framework Agreement with the Islamic Republic of Mauritania covering the 2026–2030 period to strengthen cooperation and support the country’s economic development priorities through strategic trade finance and capacity-building initiatives.

GXO Logistics, Inc., the world’s largest pure-play contract logistics provider, today marked 20 years of transforming the logistics landscape in Poland, the fifth-largest logistics market in Europe.

ISS, a leading global workplace experience and facility services company, announced today that it has been awarded a new 4-year contract (with an option to extend for an additional year) with the Bank of England.

Hindustan Zinc Limited, the world's largest integrated zinc producer and among the top five silver producers globally, has signed a Memorandum of Understanding (MoU) with Virginia Tech, a premier U.S. based research university, to advance scientific research focused on improving silver recovery across its lead-zinc (Pb–Zn) concentrators.

Over two thirds (69%) of female business leaders say they still experience gender-based discrimination in the workplace, according to new research released ahead of this International Women’s Day.

Critical Manufacturing, the Industrial Operations Platform company that unites execution, connectivity, analytics and trusted AI, will exhibit at  APEX Expo 2026, by Global Electronics Association, demonstrating how Critical Manufacturing MES powers a complete platform that extends from the shopfloor to global enterprise optimization.

Businesses across West Yorkshire will be able to access a ‘world of support’ more quickly, simply and effectively, thanks to a new initiative that brings together and builds on existing business support, it can be announced.

The Alliance of African Multilateral Financial Institutions (AAMFI) has appointed Dr. Corneille Karekezi as Chair of its Governing Council, succeeding Samaila Zubairu, President and Chief Executive Officer of the Africa Finance Corporation (AFC), who served as the Alliance’s second Chairperson following its establishment in 2024.