@businesscloud.co.uk 🔄Who were the winners and losers on the FTSE index in November?🔄 👀BusinessCloud gives the rundown on a hectic month for London markets, as the ship steadied following a record-breaking October and the Autumn Budget announcement ⬆️Ceres, Games Workshop, Fresnillo and Lloyds were all on the rise throughout the month ⬇️JD Sports, Auto Trader, Rightmove and 3i Group all struggled during the last official month of Autumn #ftse100 #ftse250 #londonstockexchange #uktech #plc ♬ original sound – BusinessCloud

Author: Chris Maguire

Forge Holiday Group, which owns Sykes Cottages and Forest Holidays, has entered into a partnership with channel manager Guesty.

At the core of the new partnership is Guesty’s channel manager, which is purpose-built for high-volume operators managing complex, multi-channel distribution.

James Shaw, chief commercial Officer at Chester-headquartered Forge Holiday Group said: “This is a big step forward for us.

“As we continue to scale Sykes Holiday Cottages, Forest Holidays and Bachcare, the ability to broaden our distribution, reach new audiences and unlock new channels is critical.

“Guesty’s tech gives us exactly that – smarter connectivity, more automation, and access to 60+ additional booking platforms with real-time accuracy across every touchpoint.”

Robin Clifford, EMEA sales director at Guesty, added: “Forge is the most forward-thinking hospitality group in the UK – consistently ahead of the curve in both technology adoption and AI innovation.

“At Guesty, we’re leading the evolution of software for the STR sector, embedding AI across our platform to drive performance, efficiency, and exceptional guest experiences.

“Forge recognises the power of combining strong distribution with operational excellence and the right technology partner.

“Their commitment to innovation and growth aligns deeply with our mission, and we’re proud to support them as they scale, strengthen their portfolio, and unlock new opportunities for both owners and guests.”

Completing a hat-trick of results from publicly-quoted investors is Foresight Group.

Revenues for the same period were £81.5m, up 11% from £73.2m in the prior year.

EBITDA before share-based payments was £30.6m, up 6% (2024: £29m).

AUM grew 4% from £13.2bn to £13.7bn.

Mercia Asset Management PLC has also reported results for the half-year period.

It said revenue was £17.2m, compared with £17.9m in the prior year. Profit before tax was £2.5m (2024:£2.4m) and net assets £187.1m (£187.4m).

EBITDA was £4.2m, up from £3.7m, an increase of 14%.

Mercia has around £2bn of assets under its management.

Molten Ventures has reported its latest half-year results.

The listed investor said total return – that is, net asset value plus the cumulative dividends paid out per share – was 160.3 pence for the six months ended 30th September 2025, compared with 160.8p in the prior year.

“We are reasonably sanguine about the Chancellor’s announcement in the Budget (as we understand it),” it said. “Whereas the Chancellor announced the reduction in VCT upfront income tax relief from 30% to 20%, that is not to have effect until April 2026. Until then 30% relief remains.”

The chair of the Office for Budget Responsibility has resigned following the error which saw Rachel Reeves’s Budget published an hour before she stood up in Parliament to deliver it.

Richard Hughes said he took “full responsibility” for the “worst failure” in the institution’s history, which was down to a technical error, and said he was resigning to allow it to “quickly move on from this regrettable incident”.

The OBR conducted an internal inquiry into the leak and found it was down to “configuration errors” which led to “a failure to ensure the protections which hide documents from public view immediately before publication were in place”.

Author: Chris Maguire

Experienced tech figure James Hardesty has started a new role as technology and AI advisor at the North East Combined Authority.

Hardesty, who is the director of ecosystem development at Sunderland Software City, will be primarily focused on shaping the region’s AI Growth Zone strategy during his four-month secondment.

He said: “My ambition here is simple. I want our region to stand as a nationally leading AI ecosystem.

“I’m bringing my experience in ecosystem building, tech sector development and communications strategy to the table to therefore act as an integrator.

“The North East isn’t at a standing start; we have much more than potential alone.

“We’ll soon get to framing, storytelling and ambition but right now you’ll find me engaging with industry, aligning data/research, and roadmapping success so that we have something both systemic and substantive to align on.

“I’m doing this to make a meaningful difference. I appreciate the proof will be in the pudding, so there are two transparent commitments I want to make.

“One, I’ll regularly share progress on how we’re moving forward. Two, this isn’t a closed shop. I’m here, I want to collaborate and I want to learn. Talk to me, I’ll even buy the lattes (pumpkin-spiced and otherwise).”

Author: Chris Maguire

Big changes in the North West’s legal sector with Krista Powell moving from Brabners after seven years to head up Napthens’ new Manchester office.

Powell, who has also worked with Fieldfisher and Gateley, said: “Napthens’ recent growth and future plans to expand considerably across the city and North West region were a major reason for me joining the firm.

“This is a fantastic opportunity for me to grow the firm’s presence in Manchester and build a team of people who will serve our clients with diligence, by delivering innovative solutions to support the growth of business and contribute to the regional economy.

“I’ve been really impressed by how Napthens has grown in recent years, clearly demonstrating how the people and collaborative relationships.”

Stephen Faulkner, managing director at Napthens, said: “Krista’s appointment marks a significant step in our Manchester journey, as we continue to develop our presence in the city and region.

“She brings an exceptional background in commercial property law and is a key part of our growth strategy building our presence in Manchester and creating a team that reflects the Napthens values.

“This appointment signals another major step forward in our commitment to providing clients with a first-class team to support their objectives and boosting the firm’s capability and presence in one of the UK’s most vibrant cities.”

Author: Chris Maguire

Former EssenceMediacom North COO Paul Cooper has joined  full-service marketing agency Open Partners as a non-executive director.

Cooper spent the last 20 years helping build Mediacom North into WPP’s largest media hub outside London.

His role at Open Partners will see him support Open Partners in delivering strategic planning and continued growth.

He said: “I’m joining Open Partners at a moment when the industry is shifting faster than ever.

“Big networks are slowing themselves down with heavy structures and old ways of working, and clients feel it.

“They need agencies like Open Partners who can move at the pace of technology and consumer behaviour.”

Cooper added: “As much as I have enjoyed the garden over the last six months, giving me chance to recharge, I am more excited than ever for the next chapter.

“Coming at a time that reminds me of the late 90’s and early 2000’s, we are starting to and seeing seismic shifts in the industry driven by technological evolution that is moving faster than we have seen before, and touching everything.

“Some will thrive and some may not survive, it’s a time of opportunity and business’s that deliver relevant and integrated customer experiences, along with entrepreneurial innovation & agility will thrive.”

A FinTech company backed early on by Rio Ferdinand has raised £38 million in Series B funding.

Sokin, which was unveiled as the club’s official global business payment solutions partner in August, has been valued at $300 million by the investment deal.

Prysm Capital led investment in the profitable business payments company, which saw revenues increase 100% year-on-year and is up 8x since 2022. It will be used to expand globally.

Author: Jonathan Symcox

Steven Bartlett is reported to be preparing to launch a tech news website this month.

The Dragons’ Den star is behind Founded, reports City AM, and will cover companies in the UK and US.

He is said to be recruiting 10 journalists as well as an editor-in-chief for the publication.

The Founded.com website has been taken down for now – with only a holding page visible – but a preview of the link highlights its potential future direction.

It could be the missing piece in the business empire of the entrepreneur, who has hosted hit podcast Diary of a CEO since 2017.

But as an investor in around 60 businesses, will coverage on Founded be truly independent?

The biggest risers on the FTSE 100 and 250 so far today are Plus500 (+5.36%), Hochschild Mining (+5.11%), Greggs (+4.62%), HICL Infrastructure (+4.06%) and Atalaya Mining (+3.24%), while Molten Ventures (-6.27%), PPHE Hotel Group (-4.15%), TRIG (-3.64%), Investec (-3.48%) and Baltic Classifieds (-3.38%) led the fallers. 

HICL climbed after it and TRIG formally abandoned their proposed £5.3 billion merger following a shareholder revolt, removing a deal that had faced heavy investor opposition and prompting a relief rally in HICL. 

TRIG (-3.64%) moved the other way for the same reason, with the market reacting negatively to the collapse of a consolidation plan that was expected to improve scale and liquidity for the company.

Plus500’s share price has risen because of its new role as a clearing partner for CME and FanDuel’s platform, along with its strategic share buyback programme.

Baltic Classifieds extended its recent weakness after JPMorgan downgraded the stock to “underweight” and cut its price target last week.

Hochschild Mining rose in line with a precious-metals miner rally driven by a stronger gold/silver backdrop and rate-cut expectations.

Atalaya Mining rose too, helped by stronger copper prices that have lifted copper-focused miners.

PPHE slipped despite its strategic review/formal sale process being under way. 

Other significant fallers include IP Group (-2.94%), Paypoint (-2.56%), WPP (-2.7%) and BT (-2.35%).

Author: Oliver Clayden, founder, Bizcardy

If you had met me in my first year of university, you would have found a perfectly ordinary student – half-awake in lectures – but two years later I found myself in the entrepreneurship hub, convinced I was the next Jeff Bezos or Mark Zuckerberg.

The only thing missing was a turtleneck!

That was the day I discovered that attention to detail is not just an optional life skill. It is vital, especially when you are trying to build a business while also working through a degree in a maths-based subject.

So what went wrong – and what have I learned since?

Author: Chris Maguire

Steven McKiernan has started his new role as chief financial officer of THG Ingenuity.

McKiernan was previously the CFO of fashion brand Arne and has also held roles as chief operating officer of Bruntwood and chief commercial officer of Missguided.

Writing on LinkedIn, McKiernan said: “I’m excited, and proud, to start the next part of my career today as CFO at THG Ingenuity.

“I’ve been an admirer of THG from the outside ever since I left in 2013, so returning now in this role feels like a full circle moment.

“Earlier this year, after 2.5 years with Arne, I made the decision to resign and take on my biggest role yet.

“My time at Arne was incredibly rewarding, and we achieved a lot together.”

He said his highlights at Arne included triple digit revenue, profit and cash growth; a warehouse move to 3PL (THG ingenuity); and a move to a new HQ.

McKiernan added: “In essence, we built a structure and solid foundations for Arne to continue on its growth journey without worrying about the ‘back end’ of the business.”

Earlier this year THG Ingenuity, which is the tech arm of THG, demerged from THG Beauty and THG Nutrition.

More than 200 Revolut employees have now become millionaires thanks to the FinTech’s recent $75bn valuation, according to reports.

Analysis from Sifted showed that 239 former and current employees own shares worth over $1m – while 20 own shares worth over $10m.

Sifted said the actual number is likely to be far higher, as Companies House data only shows individuals that have exercised their shares.

Vulse, a LinkedIn-focused B2B marketing platform, has announced a record-breaking year and quarter, capped off by a major new contract win with KERV Capital, a leading private equity and advisory firm.

The announcement follows a year of significant momentum for the company, including +134% year-on-year revenue growth and a threefold increase in enterprise clients across 2025.

The deal with KERV Capital marks another milestone in Vulse’s rapid expansion across the B2B market, following recent partnerships with Be Broadcast, Ripple Research, and DriveSimple.

Founded in Manchester and a partner of LinkedIn since 2019, Vulse helps companies transform how their teams create and distribute high-impact LinkedIn content through streamlined workflows, smart insights and brand consistency tools.

Surrey firm Northamber has acquited Nuvias UC’s hardware business for £7.1 million, a move that it says will accelerate its growth in the fast-evolving audiovisual and unified communications markets.

Nuvias supplies UC hardware, video collaboration systems and enterprise voice products to more than 700 UK customers.

The acquisition of the £28.8m hardware revenue business delivers greater depth across Microsoft Teams and Zoom-certified video systems, enterprise voice and telephony, specialist UC endpoints, and smart workspace and meeting-room solutions, Northamber says.

ClearBank has appointed Angela Roberts as Group General Counsel.

Roberts will lead legal and governance functions at the technology firm behind real-time clearing and embedded banking solutions.

She brings over 20 years of legal and regulatory expertise, having held senior roles at private equity-backed companies as well as leading Fortune 500 and FTSE 100 firms. She has also served as a working group chair of the FCA Financial Services Consumer Panel, providing advice and challenge to the FCA on policy development and how it acts in the interests of consumers and small businesses.

Bristol-based Wanda Health has appointed Michael Steel as its new chair, less than four months after it raised £1.9 million in investment. 

Steel brings a combination of operational leadership, board experience and healthcare scale-up expertise. 

He founded Greenbrook Healthcare, a provider of urgent care services to the NHS, growing it into a £40m+ revenue organisation employing more than 700 staff before its acquisition by Totally plc, where he went on to serve as COO and board member.

He has chaired and advised several health-tech startups, including serving as a non-executive director and now chair of DemDx over the past three years.

Steel is also an active angel investor in UK HealthTech and early-stage companies. 

Earlier in his career, he held senior roles in global strategy consulting, including as a Partner at Roland Berger and previously at Booz Allen & Hamilton. 

He also co-founded a 30-person advisory firm that was successfully sold to Roland Berger.

As chair at Wanda Health, Steel will work closely with the leadership team to advance the company’s commercial execution, accelerate strategic partnerships and support the rollout of its platform. 

Wanda has built an intelligent platform for remote patient monitoring and virtual care.

Private equity firm Perwyn has agreed to exit its holding in Manchester-based technology firm Interact Software.

Interact provides a SaaS platform that helps organisations to facilitate internal communication, foster knowledge sharing and boost employee engagement. 

During Perwyn’s investment period, the company has grown ARR and EBITDA by more than 2.5x and serves a broad range of blue-chip customers across North America, EMEA and the Middle East, with its largest markets being the US and the UK.