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Sky News
Steel tycoon Gupta heads for court to restructure UK arm
The steel tycoon Sanjeev Gupta is to seek court approval for a restructuring of the bulk of its remaining operations in Britain.Sky News has learnt that Liberty Steel, Mr Gupta’s privately owned company, is on Monday launching a restructuring plan for its Speciality Steel division in the UK (SSUK) that would significantly reduce its debts. …
Business
Evening Standard
Direct Line to axe 550 jobs under cost-cutting plan
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.Direct Line Group has revealed plans to axe around 550 jobs as it looks to cut costs amid a turnaround at the …
Business
Sky News
Direct Line to cut 550 jobs
Direct Line has revealed a cost-cutting plan that is expected to lead to 550 job losses.The insurer, whose brands also include Churchill and Privilege, said alongside its third quarter results that a “series of initiatives” aimed to deliver an additional £50m of cost savings next year. They included the planned reduction in roles, which equated …
Business
Business Live
Mell Square ‘urban village’ plans latest as residents urged to share views
Solihull residents are being given a new opportunity to comment on a proposed multimillion-pound ‘urban village’ at Mell Square shopping centre. The scheme, which promises to bring new bars, shops, and restaurants, has moved forward this year after first being unveiled in 2023. Solihull Council took control of Mell Square Ltd in April 2021 for …
Business
Sky News
‘Renegade’ UK could be spared from Trump’s tariffs, US governor says
The UK could be spared the impact of Donald Trump’s proposed trade tariff increases on foreign imports, a US governor has told Sky News.In the aftermath of the Republican candidate’s decisive election win over Kamala Harris this week, attention is turning to what the former president will do on his return to the White House. …
Business
Sky News
Hospitality chiefs warn Reeves of carnage over Budget tax hikes
Rachel Reeves will this weekend be told by some of Britain’s biggest hospitality groups that the tax hikes imposed in last month’s Budget risk triggering a tsunami of job losses across the sector.Sky News has learnt that dozens of bosses from pub, restaurant and hotel operators have agreed to sign a letter to the chancellor …
Business
Business Live
Car sales lot to become coach depot with 11pm finish seven days a week
A car sales lot is set to be transformed into a coach depot after plans for a new entrance and exit onto a main road were withdrawn. SAR Property Solutions has secured planning permission to convert the open-air compound at the corner of Agate Street and Whalley New Road in Roe Lee, Blackburn. The site …
Business
Sky News
Bolt drivers win legal claim to be classed as workers
Thousands of Bolt drivers won their legal claim to be recognised as workers, securing rights to paid holidays and a minimum wage. After the landmark ruling, handed down by an employment tribunal on Friday, law firm Leigh Day said the compensation owed to the 15,000 drivers they represent could be worth more than £200m. The …
Business
Sky News
Cosmetic surgery group Transform gets into shape with sale
A prominent provider of cosmetic surgery services is exploring a sale for the second time in less than three years. Sky News understands that Transform Hospital Group, which is owned by Y1 Capital, a UK-based private equity firm, is working with advisers on a transaction. City sources said that Interpath Advisory was handling the sale …
Business
Sky News
Advisory firm Teneo hunts new backers at $2bn valuation
The advisory firm which managed the insolvency of Bulb Energy in 2021 is kicking off a hunt for new backers in a process that could value it at about $2bn (£1.5bn).Sky News has learnt that Teneo, which is based in the US, has begun approaching prospective investors in recent days to gauge their appetite to …
Business
Business Live
What President Trump and his tariff plans will mean for global trade
Contrary to the expectations of many political pundits on both sides of the Atlantic, Donald Trump has been elected President of the United States of America for a second time, not only winning the majority of states, but also securing the popular vote by a considerable margin. Whilst everyone absorbs the magnitude of this political …
Business
Business Live
‘Energy-efficient homes’ to be built on two brownfield sites in Wolverhampton
Wolverhampton Council has successfully acquired £1.4 million from the Government to decontaminate two brownfield sites, paving the way for around 150 new homes. The sites of the former Loxdale Primary School in Bilston and Stowheath Day Training Centre in East Park are to be cleared, with work commencing in the New Year to enable the …

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