Category: 3. Business

  • Worksop ICU nurses to appeal against contract changes – union

    Worksop ICU nurses to appeal against contract changes – union

    “All the nurses want to do is what they’ve done for decades. We’ve got nurses that have been intensive care for 30 years which is to carry on providing excellent treatment to their patients.

    “I think the trust is really potentially going to lose a lot of valuable expensive and skill by forcing these changes on the nurses,” Mr Rawlinson said.

    The union also said the nurses fear the rotation would lead to Bassetlaw Hospital losing its ICU permanently.

    Karen Jessop, Chief Nurse at DBTH, said: “Our priority is patient safety, and that means ensuring our highly skilled ICU nurses maintain the level of competency critically ill patients rightly expect.

    “Bassetlaw Hospital sees fewer very sick patients, and a short-term rotation with Doncaster is the safest and most effective way to keep those specialist skills up-to-date.

    “We have worked closely with colleagues and unions, and we believe our offer is practical, supportive, and focused on enabling our teams to continue delivering the safest, highest-quality care.”

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  • Changes to Swindon, Didcot and Chippenham trains in January

    Changes to Swindon, Didcot and Chippenham trains in January

    Friday 2 January

    • Long-distance trains between London Paddington and Bristol Temple Meads or Swansea will not stop at Didcot Parkway, Swindon or Chippenham

    • A shuttle train service will still run between London Paddington and Didcot Parkway, plus Swindon and Cheltenham Spa, Bristol Temple Meads or Westbury

    • Replacement buses will run between Swindon and Didcot Parkway or Reading

    Saturday 3 January, plus the weekends of 10/11, 17/18 and 24/25 January

    • Long-distance trains between London Paddington and Bristol Temple Meads or Swansea will not stop at Didcot Parkway, Swindon or Chippenham

    • Trains will still run between London Paddington and Didcot Parkway, Swindon and Cheltenham Spa, plus Chippenham and Bristol Temple Meads or Westbury

    • Replacement buses will operate between Swindon and Didcot Parkway or Reading, plus between Swindon and Bristol Parkway or Chippenham

    • Valid rail tickets can also be used to travel on local buses in Bath and Wiltshire

    Sunday 4 January (until before midday)

    • Most GWR trains will start or terminate at Reading instead of London Paddington

    • Some GWR and Elizabeth Line trains will run between Reading and Maidenhead; Elizabeth Line will also operate between Hayes & Harlington and London Paddington

    • Buses will replace trains between Maidenhead, Slough and Hayes & Harlington

    • Trains between Slough and Windsor & Eton Central will be unaffected

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  • Reusing Christmas leftovers in Guernsey can ‘help environment’

    Reusing Christmas leftovers in Guernsey can ‘help environment’

    Finding ways to use leftover Christmas food could help household budgets and the environment, a waste management boss said.

    Douglas Button, waste minimisation and sustainability officer at Guernsey Waste, has urged people to find ways to avoid throwing food not eaten during festive celebrations.

    He said recipes which used leftover food could be found on Guernsey’s Love Food, Hate Waste website.

    Mr Button added people should try to “reuse” as much food as possible over Christmas, even if it meant asking party guests to bring a container with them to take some items home with them.

    “We have several recipes on the website and it’s very handy for using leftovers,” Mr Button said.

    “If it has to be wasted then please put it in your food caddy.

    “But clearly, try not to waste and try to reuse as much as you possibly can as it’s much better for your budget and environmentally its a lot friendlier.”

    Mr Button also issued advice on recycling other items including Christmas trees.

    He said real trees could be taken to the waste and recycling centres at Longue Hougue and Mont Cuet or to some garden centres on the island which offered recycling services.

    Mr Button added unless it had items like sequins or glitter added to it, most wrapping paper would be recyclable.

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  • China revises rules for cross-border RMB payment system

    BEIJING, Dec. 26 — China’s central bank on Friday said that it has revised the rules of the Cross-Border Interbank Payment System (CIPS) to strengthen management and better support the development of cross-border renminbi (RMB) services.

    As CIPS business increases and the number of participants expands, the previous rules are no longer sufficient to meet the development and management needs of those participants, making revisions necessary, according to the People’s Bank of China.

    The updated rules standardize a range of activities, including account registration for participants and operating institutions, the ownership of participants’ settlement funds, and the management of liquidity among participants.

    They also refine the system’s settlement mechanism, and clarify requirements for queue management, transaction cancellations and returns, among other business activities.

    The revised rules will take effect on Feb. 1, 2026.

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  • No longer ‘unloved’: retailers investing more in physical stores, UK data shows | Retail industry

    No longer ‘unloved’: retailers investing more in physical stores, UK data shows | Retail industry

    UK retailers are investing more in bricks and mortar, with shopping centres and food stores leading a revival, according to research.

    Retailers and property investors are reallocating capital back into physical stores, according to the property group Knight Frank.

    The switch represents a fillip for high streets and shopping centres after a difficult decade, which culminated in the shutdown of most stores during pandemic lockdowns and an accompanying surge in online shopping.

    The growth in online retail has fallen back and flatlined at between 26% and 28% of overall retail sales since a peak of 35% in mid-2020.

    Retail has outperformed all other types of commercial property this year, with 9.2% returns on investments in the year to September, Knight Frank said. This is ahead of industrial properties, at 9.1% and offices at 3.2%.

    Shopping centres and food stores are the joint top performers this year, each delivering 10.2% growth in returns.

    Shopping centres such as Bluewater in Kent are seeking to attract people with ‘experiences’ and activities including zip wiring. Photograph: supplied

    Shopping centres are now seeking to attract visitors with “experiences” and activities such as zipwires and darts, to complement shops. While large centres tend to do well, smaller, older malls are suffering because retail chains’ preference for fewer larger stores, Knight Frank said.

    Next year, retail property is forecast to deliver investment returns of 9.5%.

    Will Lund, the head of retail capital markets at Knight Frank, said: “With online penetration flatlining and retailers reinvesting in physical space, the narrative around retail has fundamentally changed. We have great confidence that this demand is going to drive a return to decade-high investment volumes in 2026 and we are expecting a busy year.”

    In November, the chief executive of the commercial property development and investment company Landsec, Mark Allan, said it was prioritising buying more retail assets over the next 12 to 18 months, in a sector that had long been considered “unloved”.

    Landsec, which owns and manages large shopping centres such as Bluewater in Kent and Trinity Leeds, has sold £295m of offices as it shifts towards retail and residential. The company is in talks to buy the Silverburn shopping centre near Glasgow for £250m early next year.

    British Land, another big developer, focuses mainly on London office campuses and retail parks. Office attendance is accelerating, retailers are expanding out of town, and supply remains very constrained across both markets,” its chief executive, Simon Carter, has said.

    Landsec is in talks to buy the Silverburn shopping centre near Glasgow for £250m early next year. Photograph: Jeff Holmes JSHPIX/REX/Shutterstock

    A number of shopping centres have changed hands this year and supermarkets and other food stores have increased sale-and-leaseback transactions.

    Knight Frank is managing the sale of Merry Hill near Dudley and expects to sell the West Midlands shopping complex for £300m, with 10 investors bidding.

    Last month, Frasers Group, the owner of Sports Direct, bought the Braehead shopping centre near Glasgow, one of Scotland’s busiest, from SGS UK Retail in a deal reportedly worth £220m.

    Knight Frank estimated that £5.8bn was invested in retail assets in 2025, down 17% from the previous year because of a shortage of properties. Transaction levels rose in the second half if the year, and with pricing strengthening, that momentum is expected to carry into 2026.

    Charlie Barke, the head of capital markets at Knight Frank, said: “We’ve got fewer willing sellers because people are expecting these assets to start to perform well again. So stock supply to the market is limited for the first time in quite a long time, and now demand for investments exceeds supply in the retail sector.”

    Across the country, 13.5% of shops stand empty, the lowest vacancy rate since 2020, with a further drop expected next year.

    On the high street, £420m of shops were traded in the second half of 2025, up 150% on the first half. Prime centres and regional cities are expected to deliver rental growth of 6.9% this year.

    Sam Waterworth, a partner at Knight Frank, said: “Retail has decisively turned a corner with 2025 marking the high street’s rebound.”

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  • Lower Thames Crossing: Highways spent £50m buying affected houses

    Lower Thames Crossing: Highways spent £50m buying affected houses

    Purchasing properties affected by large-scale construction projects is common practice, and is often carried out well in advance of work taking place.

    A spokesperson for National Highways said the LTC would “improve journeys and bring significant benefits to people and businesses across the region”, but acknowledged there would be “an impact on properties along the route of the new road”.

    “Through a comprehensive programme of consultation we have been able to significantly reduce the number affected by almost 70%, and reached voluntary agreements with many,” they said.

    The spokesperson added that National Highways had been in touch “with all people with an interest in land affected by the project for almost a decade”, and was “committed to paying a fair market value to property owners.”

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  • Silver crosses $77 mark while gold, platinum stretch record highs

    Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of U.S. Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.

    Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a U.S. critical mineral, and strong investment inflows.

    Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. U.S. gold futures for February delivery settled 1.1% higher at $4,552.70.

    “Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that U.S. President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.

    The U.S. dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.

    On the geopolitical front, the U.S. carried out airstrikes against Islamic State militants in northwest Nigeria, Trump said on Thursday.

    “$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.

    Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.

    On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.

    Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.

    All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.


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  • Sound Mechanics: Sheppard’s Auto Service still firing on all cylinders 50 years in | News, Sports, Jobs

    Sound Mechanics: Sheppard’s Auto Service still firing on all cylinders 50 years in | News, Sports, Jobs

    Sheppard’s Auto Service, located at 1903 Seventh St. in Parkersburg, commemorated its 50th anniversary in 2025. The business has maintained a commitment to customer service by giving people what they need and not trying to sell them something they don’t. (Photo by Brett Dunlap)

    PARKERSBURG — Sheppard’s Auto Service celebrated its 50th anniversary this year.

    The business was founded by John Sheppard who became interested in working on cars in high school which led him to an automotive school in St. Louis after he graduated from Parkersburg High School in 1964. He came back to Parkersburg and worked at Hupp-Wharton Cadillac Olds for 10 years.

    After considering going into the ministry, Sheppard felt God was guiding him in a different direction which led him to open his own business in 1975 with the help of his friend David Hale, a vice president at United National Bank.

    Sheppard passed away Jan. 8, 2024. However, the business remains, marking its 50th anniversary in May.

    “(Hale) was really a wonderful man, and he was the one who helped us get started,” said Helen Sheppard, John’s wife. “John always liked working for Wharton, but he wanted his own business.”

    They worked with Hale and set up financing. A neighbor agreed to rent them space behind the IGA store on Seventh Street, around where Astorg Ford is now, she said. The address was officially on Homeland Avenue, a dead end street to which they always had to give directions.

    “When we started, we had John as the mechanic and me in the office,” Helen said, adding they were soon able to hire another mechanic.

    In the beginning, the Sheppards were all at the garage along with their children Angie and Blaine, who would play nearby. Helen originally worked in the office, did the banking, drove people home and back while their cars were worked on and was a parts runner.

    As time went on they eventually were able to hire a number of mechanics and someone who could do the office work.

    They were at that original location until 1983 when they got financing and had their current location built at 1903 Seventh St.

    “That is how we did it, just working and paying those bills every month,” Helen said. “John believed in treating people fairly and being honest with people.

    “He did not believe in trying to get people to pay for things they did not need. He always did his best, and he tried to be fair.”

    John approached people and their cars like he would approach his own vehicle, his wife said.

    “We always did what we thought was right to help people,” she said. “We have had a lot of good people working for us.”

    Danny Egbert, has worked at Sheppard’s for over 47 years as a mechanic and now runs the garage.

    “A lot of the leadership from John has kept the business going and built the business over the years,” he said. “We try to carry on his legacy.”

    Sheppard sold the business to his son Blaine 13 years ago on Oct. 1, 2012, when he semi-retired, but remained a presence at the garage until he passed.

    “It was in his blood,” Egbert said. “The key to the success of the business is we have always tried to be honest with people and treat people how we would want to be treated.

    “We try our best not to do any unnecessary work. If they need something done, it actually needs done.”

    The biggest change over the years has been the cars themselves and the systems they have had to learn to fix and deal with, resulting in the garage having to invest in more expensive equipment and the training to use it, Helen said.

    “John was always learning, and he always had to learn something new,” she said, adding they also had other mechanic friends and some of the dealerships who could help them out from time to time if there was something new or unique they encountered.

    “He loved cars,” Helen said. “He worked hard.”

    Blaine Sheppard said his father would not have been surprised that the garage was still going.

    “I think he would have expected it to still be here,” he said.

    His father always enjoyed talking with people, which is why he kept going in after he sold the business, Blaine said. The people who worked there were like family to him.

    “Relationships were what it was all about for him,” he said. “It was all about the customers. He did not mind talking to people. He enjoyed talking to people.”

    In an article that ran in the Parkersburg News and Sentinel on June 7, 2015 to commemorate the business’ 40th anniversary, John Sheppard praised the customers who have continually brought their cars to them to work on and for recommending the garage to other people.

    “We have been blessed with so many great customers,” he said. “It has been great. You build relationships with so many people. Some of the customers I have go back 50 years, when I worked at Wharton’s. I have customers that I worked on their cars back in the ’60s. I am definitely working on their grandkids’ cars now.

    “It is amazing how God has blessed us with so many customers. They are more than just customers; they are friends.”

    Brett Dunlap can be reached at bdunlap@newsandsentinel.com

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  • Italy and Spain shake off ‘periphery’ tag as borrowing premiums hit 16-year low

    Italy and Spain shake off ‘periphery’ tag as borrowing premiums hit 16-year low

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    Government borrowing costs paid by Italy and Spain have fallen to their lowest level relative to Germany in 16 years, as investors reward Rome and Madrid for belt-tightening and grow more worried about surging debt elsewhere in the Eurozone.

    The extra yield on 10-year Italian debt compared with German Bunds — a closely watched measure of the risk associated with lending to Italy — narrowed to within 0.7 percentage points this month, the lowest since late 2009.

    Strong economic growth in Spain has helped to cut its 10-year spread with Germany to less than 0.5 percentage points. That is also the lowest since before the Eurozone crisis, when high debt loads drove up both countries’ borrowing costs and stoked worries about the currency bloc breaking up.

    “We are having a melting together of the periphery with countries previously considered safer investments, such as France, Belgium and Austria,” said Ales Koutny, head of international rates at asset management company Vanguard. “Markets have long memories but also at the right incentive, they are willing to turn the page.”

    Fund managers have warmed to Italian and Spanish debt amid a broad upswing in southern Europe’s economic fortunes, arguing that it no longer makes sense to categorise such borrowers as the Eurozone’s riskier “periphery”.

    Meanwhile, a yawning budget deficit and political turmoil in France — traditionally seen as one of the bloc’s safer economies — has pushed its borrowing costs above Spain’s. Even Germany, the Euro area’s de facto safe haven, has undergone a reassessment by markets after launching a €1tn spending push.

    Vanguard’s Koutny expects spreads to tighten even further next year, taking Italy’s to 0.5 to 0.6 percentage points over Germany, and Spain to 0.3 to 0.4 percentage points.

    Pedro Sanchez smiles while posing for a group photo with members of the government before the last cabinet meeting of the year.
    Spanish Prime Minister Pedro Sanchez is leading the world’s fastest-growing large advanced economy for the second year running in 2025 © Reuters

    Investors point to Spain’s improving economic trajectory and Italy’s prudent fiscal policies under a politically stable government, as part of a broad reduction in fiscal risks for these countries as well as for other previous debt hotspots such as Greece.

    Ken Egan, director of European sovereign credit at rating agency KBRA, said the better economic fortunes of southern European countries meant there was a “tale of two Europes, a tale of the north and the south”. 

    He contrasted southern European economies’ “decisive swing” away from chronic deficits with sovereigns such as France where “ageing costs, weaker growth and heavier spending [have] eroded their fiscal positions”. Credit agencies, including S&P, predict France’s debt to GDP will reach 120 per cent in the next few years.

    Line chart of Additional 10-year yield vs Germany (% points) showing France now pays a higher premium to borrow than Spain

    Spain is set to be the world’s fastest-growing large advanced economy for the second year running in 2025. Thanks to a combination of immigration, tourism, low energy costs and EU funds, the IMF is forecasting GDP expansion of 2.9 per cent for the country this year.

    Allied with a rising tax take, that growth is set to reduce Spain’s deficit from 3.2 per cent of GDP in 2024 to 2.5 per cent this year, according to Bank of Spain forecasts.

    Italy’s economy is far more sluggish, with its growth forecast to remain below 1 per cent of GDP until at least 2027. However, investors have warmed to Prime Minister Giorgia Meloni, whose right-wing government has displayed a strong commitment to deficit reduction, despite pressures from workers wrestling with a cost-of-living squeeze.

    Economists say Rome is also finally reaping the benefits of previous efforts to curb tax evasion, which is boosting revenue collection.

    Italy believes its fiscal deficit, which was 7.2 per cent in 2023, will come in at 3 per cent for 2025, allowing Rome to exit the EU’s excessive deficit procedure faster than anticipated, at a time when Paris is overstepping borrowing targets agreed in Brussels.

    In absolute terms, Italian and Spanish borrowing costs remain elevated compared with the era of very low or negative interest rates on either side of the Covid pandemic. Overall, Italy’s borrowing costs have gone broadly sideways this year at about 3.5 per cent, and Spain’s have ticked up close to 3.3 per cent.

    But trading much closer to counterparts long deemed to be safer bets for investors means these bonds are “entering into a very different regime”, said James McAlevey, head of global aggregate and absolute return at BNP Paribas Asset Management. 

    “[This is] beginning to open up the potential global demand for those markets to [a broader group of] investors,” added McAlevey, saying that ultra-cautious managers of central bank reserve assets may begin to look at the debt of Italy or Spain when investing their foreign reserves.

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