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NatWest in £11bn deal to offload pension payments
NatWest Group, the high street banking group, has struck what is thought to be the UK’s biggest-ever deal to outsource pension payments to a specialist insurance company.Sky News has learnt that pension trustees at NatWest, which is on track to become wholly owned by private sector investors after more than 15 years in partial taxpayer …
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Sosandar and Next extend partnership with exclusive homeware line, leveraging online retail strengths
Sosandar, the upmarket women’s fashion chain, has struck a capital-expenditure-free licensing deal with retail heavyweight Next to launch a homeware collection. Under this no-capex agreement, Sosandar will expand its existing clothing partnership with Next, as reported by City AM. Co-CEOs of Sosandar, Ali Hall and Julie Lavington, expressed their excitement about the venture, proclaiming it …
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£15bn merger between two of UK’s largest mobile networks could get green light, says competition watchdog
A £15bn merger between two of the UK’s biggest mobile networks could get the green light – if they stick to their commitments to invest in the country’s infrastructure, the competition watchdog has said.The Competition and Markets Authority (CMA) said the merger of Vodafone and Three had “the potential to be pro-competitive for the UK …
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Sky News
Bosses rail at business secretary over “avalanche of costs”
Business leaders expressed frustration with ministers on Monday amid a growing budget backlash that bosses said would trigger an “avalanche of costs” and leave them with no choice but to slash investment and increase prices.Sky News has learnt that bosses of large retail and hospitality companies and trade associations told Jonathan Reynolds, the business secretary, …
Business
Sky News
Retail giants face food price hikes dilemma after budget
Two of Britain’s biggest food retailers will this week face pressure to publicly disclose whether they expect a fresh spike in prices next year as the industry grapples with huge tax hikes imposed in last week’s budget.Sky News understands that Marks & Spencer (M&S), which will unveil half-year earnings on Wednesday, and J Sainsbury, which …
Business
Sky News
Zahawi in talks to help Efune clinch £550m Telegraph takeover
The former Conservative chancellor Nadhim Zahawi is in talks to smooth the path to a takeover of The Daily Telegraph being led by the New York-based media investor Dovid Efune.Sky News has learnt that Mr Zahawi has been working for several weeks with LionTree, Mr Efune’s investment banking adviser, on the deal, which is expected …
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Health optimisation start-up gains investment from sports stars
The Players Fund, the UK’s pioneering athlete-led venture capital firm, has invested in health start-up OptimallyMe. The fund, whose investors include cricket star Ben Stokes and Olympic champion Jess Ennis-Hill, also counts England rugby player Courtney Lawes and Arsenal footballer Ben White among its 60 professional sportspeople backers, as reported by City AM. The VC …
Business
Sky News
UK budget dims prospect of aggressive rate cuts, say economists
Hopes for consecutive interest rate cuts by the Bank of England over the next two months have been dampened by the UK government’s recent budget, economists have warned.These rate cuts typically reduce borrowing costs for consumers and businesses over time. The likelihood of back-to-back cuts slipped as the market digested last week’s statement, with the …
Business
Sky News
Should UK fear Trumponomics? What tariffs could mean for global economy
There’s fear in some quarters of another Donald Trump presidency but will the economics be that bad?Not a single vote has been counted but the policies of a possible second Trump presidency have already influenced financial markets. The cost of US and UK borrowing – measured through 10-year revenue-raising instruments called bonds – has been …
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Ryanair marks a decade operating flights out of Cardiff Airport
Cardiff Airport has marked a decade of continuous operations by Ryanair. The Dublin-based airline currently operates five routes out of the Welsh Government-owned airport with Fargo, Alicante, Malaga, Tenerife and Dublin. It also provides additional flights each year during the Six Nations’ rugby tournament. Since launching its first route at the end of October, 2014, …
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Business Live
The budget will stifle the ability of the private sector to boost the economy
Last week the first-ever female Chancellor of the Exchequer stood up in the House of Commons to deliver a budget that has resulted in the biggest tax rises in history while raising investment for public services. While there has been considerable commentary on what the measures introduced by Rachel Reeves will mean for the economy, …
Business
Sky News
Spanish shipbuilder Navantia races to finalise Harland & Wolff takeover
Navantia, the Spanish shipbuilder, is racing to finalise a takeover of the stricken shipyard-owner that built the Titanic amid urgent talks to reshape a major government contract.Sky News has learnt that Navantia is attempting to negotiate more favourable terms for a deal to build three Fleet Solid Support ships (FSS) for the Royal Navy as …

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