Here are the stories making the business headlines locally and across the country this morning.
‘Switch has been flicked’ on London stock market decline
The London stock market has turned a corner after two years of gloom, according to the stockbroker that last year predicted a “doom loop” on the exchange.
Steven Fine, chief executive of City stockbroker Peel Hunt, said there were signs of recovery and declared that the worst was over for London’s stricken exchange, which has been struggling to attract floats and seen a wave of companies leave.
Mr Fine said: “We’ve had 10 bad quarters in this industry… but now it’s better than it’s been.”
He said a “switch has been flicked”, adding: “There has been a shift in sentiment and that is a very good precursor for a rebound in activity over the coming quarters.”
Bellway confirms £650m bid for rival housebuilder amid property slump
One of Britain’s biggest housebuilders said it made for a £650m bid for a rival developer as the construction industry grapples with a severe downturn.
In an update to investors after markets closed on Thursday, Bellway said Crest Nicholson had rejected an offer tabled last month.
Newcastle-based Bellway said there remains “compelling strategic and financial rationale” for a potential agreement, claiming it would allow Crest Nicholson to lower its debt and “benefit from the scale of the combined business.
FTSE 250-listed Bellway is worth around £3.2bn, making it the fifth largest housebuilder on the London Stock Exchange. Crest Nicholson was worth £547m as markets closed after its share price slumped almost 12pc on Thursday.
Wizz Air ranked worst airline for delays again
Wizz Air has been named the worst airline for UK flight delays for the third year in a row.
The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency.
Turkish Airlines recorded the second worst punctuality followed by Tui.
The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes.
Tolbooth restaurant boss reveals ‘Michelin ambitions’ as Stonehaven volunteers denied top-floor takeover of landmark
Tolbooth Museum off the council’s hands, but their plans for the whole building were refused as the restaurant upstairs revealed its lofty ambitions.
The future of the category A-listed building, which will celebrate its 550th anniversary next year, was subject of tense talks this week.
Members of the Stonehaven Tolbooth Association wanted to take ownership of the entire Old Pier site from Aberdeenshire Council.
Trustees currently run and manage the popular museum, which was previously a storehouse, courthouse and prison.