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New nuclear power for Sizewell and Bradwell

Funding is expected to be approved for new nuclear power in Sizewell and Bradwell. Credit: PA

Plans for new nuclear power stations at Sizewell in Suffolk and Bradwell in Essex are likely to come a step closer today.

The multi billion pound project has been proposed by the French energy company EDF.

It's expected to approve funding tonight for the development of its new nuclear programme in the UK.

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easyJet costs increase by £40 million since Brexit, CEO claims

easyJet say they've lost millions of pounds since Brexit. Credit: PA

Luton-based easyJet say its costs have increased by £40 million since last month's EU referendum result.

The pound has lost 10% of its value against the dollar since the vote while the company's shares have dropped by 6%.

The low-cost airline claims revenue has fallen, and recent events in Nice and Turkey have also knocked consumer confidence.

They have also been forced to offer cheaper farers this summer in a bid to get more people to fly.

The economic and operating environment has been difficult in the third quarter due to a number of factors including air traffic control strikes and other industrial action, runway closures at London Gatwick and severe weather.

These factors combined with industry capacity growth in short haul continue to have an impact on industry yields at a peak time of year.

More recently currency volatility as a result of the UK’s referendum decision to leave the EU as well as the recent events in Turkey and Nice continue to impact consumer confidence.

– Carolyn McCall, easyJet Chief Executive

Cambridge based technology company set to be sold to Japanese company

A Cambridge based technology firm is likely to be sold to a Japanese company for 24 billion pounds.

ARM Holdings make microchips for various smartphones including those made by Apple and Samsung. SoftBank, who want to take it over, say it'll double the number of staff.

The Prime Minister has welcomed the investment but the local MP is more cautious.

Click below to watch a report by ITV News Anglia's David Wood.

Union told by bosses that Bernard Matthews 'Is not up for sale'

Bernard Matthews Credit: ITV News Anglia

Unite, the country's largest union says it will be monitoring developments at turkey producers Bernard Matthews after management said it was 'business as usual'.

It comes after recent reports speculated that the company which has staff working across both Norfolk and Suffolk, was being put up for sale.

Unite says it has held a meeting with management at the company's headquarters in Great Witchingham, where bosses said the business was not up for sale, although a number of interested parties had made approaches.

Unite represents 450 of the 2,000 staff at Bernard Matthews.

"The management said that the company was not up for sale, although there had been approaches about Bernard Matthews’ current financial standing. The message was very much: ‘Business as usual’. There had been losses, but they were being addressed by a redevelopment plan as the company gears up for the peak Christmas production period. The management said that sales were good, although profit margins remained tight. There was no mention of any job losses, but Unite will be keeping an eagle eye on the situation as it develops in the weeks and months ahead, as the job security of our members is paramount.”

– Unite regional officer Steve Harley

ARM Holdings takeover: Founder says 'It's a sad day for technology in Britain'

Hermann Hauser is the founder of ARM Holdings Credit: Hermann Hauser

The founder of ARM Holdings says the takeover of the Cambridge company by a Japanese firm is a 'sad day for technology in Britain'.

Hermann Hauser says the creation of ARM Holdings has been the 'proudest moment' in his life.

The company makes chips for smartphone brands such as Apple and Samsung and employs 3,000 people in Cambridge at the Science Park.

ARM Holdings, Cambridge Science Park Credit: ITV News Anglia

"ARM has been the proudest achievement in my life and so it's a very sad day for me personally and for technology in Britain."

– Hermann Hauser, ARMS founder

Japanese internet giant SoftBank has said it will double the number of staff in the UK. While the Chancellor of the Exchequer Philip Hammond has welcomed the sale, calling it a 'vote of confidence' in Britain.

But the MP for Cambridge Daniel Zeichner is not convinced, raising concerns about what happens in the long term.

Watch a short clip with Hermann Hauser.

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Cambridge MP cautious over ARM Holdings takeover

Daniel Zeichner MP, Cambridge, Labour Credit: ITV News Anglia

A technology company based in Cambridge is being bought by a Japanese firm for more than 23 billion pounds.

ARM Holdings, which makes chips for smartphone brands including Apple and Samsung, employs around 1,200 people in the city.

Its new owners, the Japanese internet giant SoftBank has said it will double the number of UK staff.

The Chancellor of the Exchequer, Philip Hammond, welcomed the sale calling it a "vote of confidence" in Britain.

However, the MP of Cambridge Daniel Zeichner isn't convinced.

ARM Holdings Credit: ITV News Anglia

"Well of course the promises are great, but how are those promises going to be guaranteed? Do we know what will happen in 6 months or a year? Do we know much about SoftBank? And they seem to be making some pretty big deals across the world. This is a Cambridge success story upon which the future of the United Kingdom is probably depends because this is what we're good at."

– Daniel Zeichner MP, Cambridge, Labour

Cambridge tech firm takeover could double UK workforce

The £24bn takeover of Cambridge technology company ARM Holdings could see its UK workforce doubled. Credit: Bay Area News Group/ABACA/PA Images

The £24bn takeover of Cambridge technology company ARM Holdings could see its UK workforce doubled. It employs more than 3,000 people in Cambridgeshire.

The British company is a major presence in mobile procession, with its processor and graphics technology used by Samsung, Huawei and Apple in their in-house designed microchips.

The deal has been welcomed by the new Chancellor of the Exchequer Philip Hammond who said it shows that Britain had lost "lost none of its allure to international investors" following Brexit.

The Chancellor Philip Hammond says the deal guarantees to double the number of jobs in the UK. Credit: Andrew Matthews/PA Wire

"This £24 billion investment would be the largest ever from Asia into the UK.

"It would guarantee to double the number of jobs in ARM in the UK over the next five years and turn this great British company into a global phenomenon.

"Britain is open for business - and open to foreign investment. Softbank's decision confirms that Britain remains one of the most attractive destinations globally for investors to create jobs and wealth. And as ARM's founders will testify, this is the greatest place in the world to start and grow a technology business."

– Philip Hammond, Chancellor
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