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Victims of second Post Office accounting software scandal ‘to be offered compensation’
The government will offer compensation to Post Office Capture victims – while refusing to rule out blanket exoneration for those convicted.In an exclusive interview with Sky News, Post Office minister Gareth Thomas said his department is “working at pace” and is committed to providing redress as quickly as possible. Capture accounting software, which predates the …
Business
Sky News
Navantia close to £70m purchase of stricken Titanic builder Harland & Wolff
Harland & Wolff (H&W), the stricken Titanic shipbuilder, is on the brink of a £70m government-backed rescue deal that will include guarantees of job security for the company’s workforce.Sky News has learnt that ministers hope to announce as soon as Thursday that H&W and its four UK shipyards are being acquired by Navantia, the Spanish …
Business
Sky News
Wages rising sharply and faster than expected
Wages are rising far faster than expected after a year of slowing, official figures show.Average pay rose sharply, by 5.2%, in the three months to October, according to data from the Office for National Statistics (ONS). A month earlier wages had been growing by 4.4% including bonuses and 4.9% excluding bonuses.The increase comes as a …
Business
Sky News
Thames Water seeks court approval for emergency bailout
Thames Water is seeking High Court approval today for a £3bn emergency loan to keep the troubled utility afloat, in a crucial 48-hours for the company and the industry.At a hearing at the Royal Courts of Justice before Mr Justice Trower on Tuesday, Thames will present the loan as the first stage of a restructuring …
Business
Sky News
NatWest retail banking chief Lindberg to step down next year
The boss of NatWest Group’s high street branch network is to step down early next year as the company prepares for a return to full private sector ownership.Sky News has learnt that David Lindberg, who joined NatWest just over four years ago, will leave in the first quarter of 2025. He is said to have …
Business
Sky News
‘Profound evil’ at the heart of Post Office – IT inquiry lawyer
“The evil the Post Office did was profound”, a lawyer has told the Horizon IT scandal inquiry while describing a “deliberate conspiracy” and “cover up”.Edward Henry KC, who is representing victims, delivered his closing submission to the hearings with a powerful and damning monologue. He accused the Post Office of “profound evil”, adding that it …
Business
Business Live
Johnson Matthey’s largest shareholder calls for ‘strategic review’ amid 55% stock slump
Johnson Matthey’s largest shareholder has urged for a comprehensive strategic review of the business, which may lead to the sale of “part or all” of the company. In a letter made public on Monday, New York-based Standard Investments called for a significant overhaul of the board and suggested either de-risking or disposing of the lossmaking …
Business
Sky News
Royal Mail takeover by Czech billionaire approved
The sale of Royal Mail to Czech billionaire Daniel Kretinsky has been approved by the government. Mr Kretinsky‘s company EP Group will buy the postal service’s parent company International Distribution Services (IDS). The £5.3bn deal had been agreed in May but was subject to a government review under national security laws as Royal Mail is …
Business
Sky News
Five charts that explain why water bills are about to go up
This is a crucial week for the water industry.Regulator Ofwat will on Thursday give its “final determination” on how much bills will rise over the next five years. Before then, Britain’s largest company Thames Water hopes to win court approval for a £3bn bridging loan to stop it running out of cash in the spring.Together …
Business
Business Live
The mixed impact of the Help to Grow programme to boost SME management skills
As someone who has been an advocate for improving management skills within small and medium-sized enterprises (SMEs) since I began my academic career over thirty years ago, I have been disappointed that there has been little effort by the higher education sector in utilising its expertise within business schools to make a real difference to …
Business
Sky News
Grant Thornton partners back stake sale to buyout firm Cinven
UK-based partners at Grant Thornton, the accountancy firm, have voted to back the sale of a majority stake to Cinven, the private equity firm.Sky News has learnt that GTUK’s partnership voted unanimously to support the deal, in a move expected to be announced internally as early as Monday. Support for the deal had been widely …
Business
Business Live
National insurance hike compensation uncertainty for public bodies in Wales
Public bodies in Wales may not receive full compensation from the UK Government for the cost of employer national insurance increases, unlike in England, a committee heard. Finance Secretary Mark Drakeford told the Senedd’s finance committee the cost of workers within the Office for National Statistics definition of a public-sector employee will be covered by …

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