Business News Round Up (05/10/2026)
£32bn of projects await in South of Scotland
More than 200 projects with the potential to unlock £32 billion of investment across the South of Scotland have been identified in new research. Commissioned by South of Scotland Enterprise, on behalf of South of Scotland Regional Economic Partnership, the research highlights 202 transformational projects spanning clean energy, natural capital, advanced manufacturing, technology, life sciences, tourism and the creative industries. If realised, the opportunities could support 8,000 long-term jobs. Deputy First Minister Jenny Gilruth will today chair a meeting of the Convention of the South of Scotland in Dumfries. It brings together the Scottish Government, Dumfries and Galloway Council, Scottish Borders Council and public sector partners to strengthen collaboration, align national and regional priorities, and support inclusive economic growth across the South of Scotland.
AI is making North West firms faster but not necessarily richer, FRP research shows
AI is helping North West mid-market businesses become more efficient but not necessarily more profitable, according to new research from FRP Advisory. The business advisory firm surveyed 250 senior executives at UK mid-market businesses, with the findings suggesting AI is raising the standard of service customers expect, while putting more pressure on businesses to ensure those efficiencies are also improving margins and cash flow. Among the North West businesses surveyed, 72% said that AI had increased pressure on their organisation to deliver more for the same price. Customer expectations are also rising, with 64% reporting increased demand for round-the-clock or near-instant responses, while 44% cited greater expectations of lower prices. Businesses are still seeing the benefits of the technology, with 62% of the region’s respondents stating that AI had primarily produced faster customer delivery.
Multimillion pound funding awarded to support university spinouts
The Scottish Government is investing nearly £3m to help turn university research projects into commercial business propositions. Seventeen projects from seven different universities will share £2.92m of funding from the Proof of Concept fund, which was piloted last year to help researchers explore and realise the commercial potential of their research. The funding will help accelerate various aspects of the spinout process and projects being funded this year include: Kinera at Heriot Watt University, which is developing a wearable health monitoring device for people with Parkinson’s disease to help clinicians make more personalised treatment decisions Merra-log at the University of St Andrews, which is developing a low-cost environmental monitoring system to collect and transmit high-quality marine and freshwater data in near real time.
TalkTalk pre-pack deal with BT preserves 900 jobs but wipes out major shareholders
A pre-pack deal to buy Salford-based telecoms and broadband supplier, TalkTalk Group, out of administration, preserving all 900 jobs, has been sealed with telecoms giant BT. It concludes months of uncertainty over the future of the business and follows intense negotiations over the weekend. It involves both TalkTalk’s consumer business and its wholesale arm, PlatformX Communications (PXC). Andrea Jakes, Jonny Marston and Richard Fleming of professional services firm, Alvarez & Marsal Europe, have been appointed as joint administrators of TalkTalk Telecom Group, in administration, and certain of its subsidiaries, including TalkTalk Communications, Virtual1, Virtual1 Communications, TalkTalk Group, TalkTalk Telecom, TalkTalk Brands and Origin Communications. Immediately following appointment, the joint administrators completed a sale of two of the company’s operating subsidiaries, Platform X Communications and TalkTalk Telecommunications, to BT Group. Platform X Communications operates the PXC network and wholesale business (PXC).