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Ministers seek state aid advice over Harland & Wolff rescue deal
The government has drafted in City lawyers to scrutinise a proposed rescue deal for Harland & Wolff, the shipyard-owner which built the Titanic.Sky News has learnt that ministers have drafted in external advisers to assess whether the renegotiation of a Ministry of Defence contract to facilitate a sale of the company to Spain’s Navantia would …
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New economy data tests chancellor’s growth agenda
Labour has come into power and the economy is shrinking.It is not the news the chancellor was expecting, and it underscores the challenges she faces in delivering the government’s promise to turbo-charge growth. The economy contracted by 0.1% in September and eked out growth of just 0.1% in the first three months of the new …
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Business Live
Village centre set for multi-million pound transformation
A Merseyside community is poised for a major transformation with newly submitted plans for an extensive regeneration project in Huyton Village. The ambitious blueprint encompasses the construction of numerous homes, a brand-new library, a burgeoning commercial district with a hotel and fresh public spaces. Knowsley Council has laid out a 10-year masterplan aiming to revitalise …
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Chancellor ‘not satisfied’ as UK economic growth slows
The UK economy grew by 0.1% between July and September, according to the Office for National Statistics (ONS).However, despite the small positive GDP growth recorded in the third quarter, the economy shrank by 0.1% in September, dragging down overall growth for the quarter. The growth was also slower than what had been expected by experts …
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Reeves has welcome support from Bank’s governor as she goes for growth and seeks to woo City
When Gordon Brown delivered his first Mansion House speech as chancellor he caused a stir by doing so in a lounge suit, rather than the white tie and tails demanded by convention.Some 27 years later Rachel Reeves is the first chancellor who would have not drawn a second glance had they addressed the City establishment …
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Chancellor vows to rip up financial red tape – saying post-crash rules went ‘too far’
Chancellor Rachel Reeves has criticised post-financial crash regulation, saying it has “gone too far” – setting a course for cutting red tape in her first speech to Britain’s most important gathering of financiers and business leaders.Increased rules on lenders that followed the 2008 crisis have had “unintended consequences”, Ms Reeves said in her Mansion House …
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Sky News
CVC in running to buy Birmingham Phoenix Hundred franchise
CVC Capital Partners is bidding for a stake in the Birmingham Phoenix Hundred cricket franchise in a move which throws the spotlight on its relationship with the chairman of its host county.Sky News has learnt that CVC is among the parties shortlisted to acquire the England and Wales Cricket Board’s (ECB) 49% stake in Birmingham …
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Business Live
United Utilities forecasts 10% revenue growth by 2025 amid profit surge and rising household bills
United Utilities has announced an anticipated revenue surge of approximately 10% for the financial year ending in 2025, following a robust profit increase in its first half. The FTSE 100-listed company, which provides water services to the North West, disclosed an 11% rise in underlying revenue for the six months leading up to September’s end, …
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Sky News
The massive winter fuel payment ‘cut’ no one ever talks about
The anger caused by Labour scrapping the universal winter fuel payment earlier this year has been well publicised – but a less talked about cut to the benefit has been taking place every year since 2000.About 1.3 million people in England and Wales who are entitled to certain means-tested benefits can get either £200 or …
Business
Sky News
United Utilities increases profit by more than £100m as it seeks more bill rises
Water company United Utilities has reported hundreds of millions in profit as it seeks to further increase customer bills.The utility serving seven million customers in the northwest of England recorded £335.7m in underlying operating profits for the first half of this year, up nearly 23% from £271.1m a year ago. It comes as the firm …
Business
Sky News
Reeves to create ‘mega funds’ in pensions shake-up to boost economic growth
Pension “mega funds” will be created under government plans to increase infrastructure investment.Reforms could “unlock £80 billion” of investment, according to Treasury plans, which say fewer but larger funds can get greater returns. Chancellor Rachel Reeves wants to imitate the way large Canadian and Australian pension schemes work.She said it marks “the biggest set of …
Business
Sky News
iCloud users could get payout as Apple sued
Consumer rights group Which? is suing Apple for £3bn over the way it deploys the iCloud. If the lawsuit succeeds, around 40 million Apple customers in the UK could be entitled to a payout. The lawsuit claims Apple, which controls iOS operating systems, has breached UK competition law by giving its iCloud storage preferential treatment, …

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