Future of Belfast man’s electric flying taxi company up in air
Belfast man Stephen Fitzpatrick is tipped to lose control of the electric flying taxi firm business he founded following crunch talks with creditors, according to reports.
The firm, Vertical Aerospace, is expected to share an update on its future this afternoon.
Mr Fitzpatrick (37) is also the founder of energy supplier Ovo Energy in Great Britain, which he set up in 2009, a former investment banker and the ex-owner owner of Formula 1 team Manor.
Meanwhile, a Belfast company which makes pre-mixed cocktails has attracted ￡1.2m in funding for its mission to shake up the drinks world.
Cocktail Keg Company was founded by Paul ‘Burnszy’ Burns and Anthony ‘Soda’ Farrell seven years ago.
It’s now received ￡1.2m in funding to grow the business from the Investment Fund for Northern Ireland (IFNI), managed by Clarendon Fund Managers, and private investors including Trevor Annon, founder of Mount Charles.
Northern Ireland’s housing market continued to grow through the third quarter of 2024 – but the latest Westminster budget could lead to a ‘mortgage bomb’, according to experts.
The 40th year of the House Price Index produced by Ulster University has revealed high levels of consumer confidence and market activity.
The latest Northern Ireland Quarterly House Price Index Report (NIQHPIR) highlights strong buyer demand against a limited supply, driving up the average house price to ￡219,110.
The Galgorm Castle Golf Club has been purchased in a landmark ￡50 million deal, it has been confirmed.
On Monday, the Galgorm Collection confirmed the purchase for both Galgorm Estate in Ballymena and Roe Park Resort in Limavady.
Colin Johnston, Managing Director of Galgorm Collection, said: “We are delighted to welcome both Galgorm Castle Estate and Roe Park Resort to the Galgorm Collection family.
“These are two iconic properties with strong legacies, and we are committed to building on their successes."
A major wind farm has been sitting in Northern Ireland’s planning system for almost a decade without a decision yet being made, it can be revealed.
Gruggandoo Wind Farm, close to Hilltown, Co Down, is one of a number of large-scale schemes — enough to power almost 30,000 homes and deemed regionally significant — which has sat in the planning system here for up to 499 weeks.
Its developer says NI’s planning system is “one of the biggest hurdles to decarbonising our economy”.
Finally, the recruitment industry in Northern Ireland has expressed concerns of the ending of zero hours contracts.
Neil Carberry, chief executive of the Recruitment and Employment Confederation (REC), says industry and employers – while seeing much of the positive – have “concerns” in relation to some elements of Economy Minister Conor Murphy’s new Good Jobs consultation.
“It’s important that policy makers approach is about how people are treated, not the form of contract they are on," he said.
ICYMI: Our most-read business stories in the last week