BOE's Mann Warns Unemployment Fears Are Keeping Saving Rate High
Mann said on Tuesday that 'cautious consumer behavior' has led to 'significantly lower growth' in certain sectors such as hospitality and retail.
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Yahoo
4 minutes ago
- Yahoo
£5,000 invested in this 9p penny stock just 1 month ago is now worth…
Agronomics (LSE: ANIC) is a penny stock on the move — it's up 23.3% in just a month. This means that anyone who put five grand into Agronomics shares in mid-June would now be sitting on £6,165. But had an investor bagged this one at just under 4p at the start of 2025, they would have done even better. Year to date, the stock has rocketed 138% to 9p! Science fact For those wondering, Agronomics is the backer of 20+ venture-stage companies aiming to commercialise lab-grown meat. These start-ups are harnessing innovative technologies to produce cell-cultivated meat, milk, eggs, and more. In other words, products that remove the need to farm livestock and slaughter animals. Instead, animal cells are grown in a lab or bioreactor. While that might sound like something out of Frankenstein, this isn't science fiction. Indeed, it's fast becoming science fact. Take BlueNalu, for example, which is one of Agronomics' portfolio bets. This is a US-based firm pioneering cell-cultivated seafood. Its first product is bluefin tuna, which is one of the world's most overfished species. The company grows the seafood in bioreactors, cell by cell. That means no heads, tails, bones, or microplastics — just pure fillets. Again, this isn't just pie-in-the-sky stuff. BlueNalu has expanded a deal with Nomad Foods, the frozen food firm behind Birds Eye and Findus, to support the future commercialisation of its seafood products in the UK and Europe. According to a survey sponsored by BlueNalu, 92% of 2,000 frequent sushi eaters in the UK expressed interest in trying the product. If BlueNalu achieves regulatory approval and commercial rollout, the value of Agronomics' investment could soar. Another firm backed by Agronomics — called Meatly — has cut bioreactor costs by 95%. This moves its cultivated pet food, which was launched in Pets at Home in February, closer to price parity with conventional chicken. Frankenfood fears It's tricky to put a valuation on Agronomics. Most of the companies it holds are still making their way towards commercialisation. But in March, Agronomics' net asset value (NAV) was calculated at 14.93p. With the shares now at 9p, this suggests a NAV discount of about 40%. On this basis, the shares are still undervalued, despite doubling this year. However, it's important to understand that this is a high-risk stock. Some of these firms could go bust due to a lack of funding or a failure to successfully launch products. Also, there may well be a backlash against lab-grown meat. The Trump administration could make US regulatory approvals and funding more difficult. Moreover, the US meat industry and agribusiness groups are obviously going to put up a fight. I expect to see plenty many 'Frankenfood' posts and headlines over the next few years. Adventurous Still, this technology is potentially revolutionary. As Agronomics argues, 'We are on the cusp of the deepest, fastest, most consequential disruption in food and agricultural production since the first domestication of plants and animals 10,000 years ago.' Given the fact that Agronomics invested in these start-ups at the ground floor level, the returns could be enormous if a couple of them succeed in future. But that's not guaranteed. Therefore, this is the very definition of a high-risk, high-reward penny stock. Only the most adventurous investors should consider it. The post £5,000 invested in this 9p penny stock just 1 month ago is now worth… appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Ben McPoland has no position in any of the shares mentioned. The Motley Fool UK has recommended Pets At Home Group Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Yahoo
11 minutes ago
- Yahoo
Bury company pays tribute to former managing director
A Bury engineering business has paid tribute to one of its former leaders following his death. Exentec Hargreaves, based in Lord Street, Bury, has expressed condolences following the death of its former managing director Brian Ward, 84, following his death on Monday, July 7. Mr Ward retired from Exentec almost 20 years ago after 48 years with the company. Working as managing director for 10 years, he completed his career as chairman of the division that also included several other senior group companies. Mr Ward first joined in 1956 after leaving Bury Technical School and began training as an apprentice sheet metalworker at Exentec Hargreaves' own in-house training school and at Bury Technical College. Get the latest news delivered straight to your inbox by signing up to the Bury Times morning newsletter as well as our breaking news alerts. While still an apprentice, he began working as a fitter on-site at paper mills throughout the UK and abroad before moving to London in 1959 to work on high profile projects such as the Esso HQ, the Hilton Hotel and others. Mr Ward spent 24 years leading installation teams including on many high-profile projects including the facilities used to test the prototype Concorde aircraft at Farnborough. The role involved a very specialised air handling system, using revolutionary lightweight stainless-steel ductwork. This system was able to put Concorde through its paces by subjecting the airframe to air pressurisation and temperature changes equivalent to 40 years' flying time. He was appointed contracts administration director in 1978, then works director in 1980 and finally managing director in 1993. READ NEXT: High school praised for showing 'highest level of care' to students READ NEXT: Joy for accountancy firm worker after Made In Bury Weekly £2,000 Draw As well as leading Exentec, Mr Ward was also appointed a director of Senior Construction Services the following year. This was a division of Senior Engineering Plc, which included various ventilation and construction businesses. He was a 'passionate advocate of training' and continued to support local training groups in his retirement, including as a governor of Bury College. He was also a director of the North Manchester Chamber of Commerce, Bolton and Bury Chamber and independent engineering training provider, Alliance Learning. A spokesperson for Exentec Hargreaves said: 'Respected by colleagues and friends alike, Brian's loss is deeply felt by those who knew and worked with him. 'At this sad time, our heartfelt thoughts are with Brian's family. May he rest in peace.'
Yahoo
16 minutes ago
- Yahoo
Historic Lake District inn being redeveloped into £3m boutique hotel
A HISTORIC Lake District pub - the highest in Cumbria - in being converted into a boutique hotel. The Kirkstone Pass Inn, which was bought by development company Supreme Escapes in 2021, is currently being refurbished to open as a boutique hotel with pub attached. Supreme Escapes are a company who say they 'specialise in rural and countryside areas, taking semi-derelict buildings and finding new ways of giving them a new lease of life'. They have previously developed a former Church in Cockermouth into a holiday home. Company co-founder Jerry Huppert estimates that Supreme Escapes have so far spent around £3million and are hoping to have a final spend of around £3.25 million. He said: 'We have given the building a new lease of life now for hopefully another 150 years. 'It's an honour to be given such an opportunity and I recommend more developers and investors go down the route of bringing back heritage and dilapidated building in the UK rather than just always jumping on the new builds.' The developer hopes that the Kirkstone Pass Inn will be opened as a boutique hotel by the end of July with the pub element set to follow shortly after. Following news of the redevelopment coming out on social media, the company faced a backlash to the plans with some people fearing the venue would be used for stag and hen parties as well as raising concerns about the loss of character of the building. However Mr Huppert said that rumours of the pub being turned into a venue for stag and hen parties were 'unsubstantiated' and that those who are speaking out now against the plans should have supported the pub before it was allowed to have become semi-derelict. 'The way I look at it is something is happening, someone went and invested in a place that was going down, if the place was flourishing then the people wouldn't have sold it", said Mr Huppert. 'All the comments of 'we have just loss this', 'we have just lost that', this asset wasn't supported. 'The question is not should we have been allowed to come and do what we did, the question is why did the locals and whoever has bad feelings about what we have done, where has their support been all these years prior, it's easier to come back in hindsight.'
