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‘We will see a hailstorm of damage’: Sacha Lord issues grim warning over withheld energy support to businesses
A grim warning has been issued by Greater Manchester’s night time economy adviser after local hospitality businesses reported not receiving the energy support payments they were promised. Sacha Lord, who is also the co-founder of The Warehouse Project and Parklife festival, said “we will see a hailstorm of damage inflicted on businesses” from the end …
Business
Sky News
US giant Lithia revs up deal to buy Ferrari dealer Jardine Motors for £300m
An American car dealership giant is in advanced talks to buy Jardine Motors, one of the largest automotive retail groups in Britain, for about £300m.Sky News has learnt that Lithia Motors, which has a market capitalisation on the New York Stock Exchange of more than $6.5bn, is within weeks of finalising a deal to buy …
Business
Business Live
Billionaire Issa brothers ‘exploring £13bn merger’ of Asda and EG Group
The billionaire brothers who own Asda are exploring a potential £13bn merger with their petrol forecourt empire. Mohsin and Zuber Issa acquired the supermarket giant in 2021 for £6.8bn alongside private equity form TDR Capital. According to a report in The Sunday Times, merger talks are being held ahead of refinancing at Blackburn-headquartered EG Group, …
Business
Evening Standard
Saga in talks to sell insurance underwriting arm
Over-50s group Saga has confirmed talks to sell the underwriting arm of its insurance division to help pay down its debts.The holiday and financial services firm said it was in discussions over a possible sale of Acromas Insurance Company, which underwrites around 25% to 30% of its insurance business.Reports at the weekend suggested Saga was …
Business
Business Live
South West firms entering administration leap by half
The number of South West companies collapsing into administration in 2022 jumped by more than half as rising inflation, weaker trade and geopolitical uncertainty continued to put businesses under pressure. A total of 100 companies in the region fell into administration last year – up from 64 companies in 2021 – analysis of notices in …
Business
Evening Standard
Funeral firm Dignity swept up by investors in £281m takeover deal
Funeral firm Dignity has been swept up by a group of investors linked to its former chief executive in a takeover move worth around £281 million, as it cautioned investors over tumbling profits.A bidding consortium consisting of SPWOne V Ltd and Castelnau Group, whose investment manager is Phoenix Asset Management Partners, made a final offer …
Business
Evening Standard
Fuller’s issues warning over earnings after train strike hit
Pub group Fuller’s has warned over annual earnings after train strikes left it nursing a sales hit of around £4 million and impacted its festive trading.The group said sales in the four weeks over Christmas and new year fell 5% compared with the same period in 2019 before the pandemic struck.It blamed the drop on …
Business
Sky News
Pub chain blames train strikes for £4m sales hit
A leading pubs and hotels operator has warned investors it is expecting annual earnings to come in below market expectations, claiming that train strikes have taken the gloss off its performance.Fuller, Smith & Turner (FS&T) estimated it had lost £4m in sales due to the strike action since last autumn – denting its momentum despite …
Business
Sky News
Business chief urges green growth to boost economy as forecast warns of deeper recession
Britain’s biggest employers’ group is urging the government to take “big decisions” on boosting growth as a prominent forecaster warns that the country may be facing a deeper recession than it had expected.Chief executive of the Confederation of British Industry (CBI) will use a speech on Monday afternoon to demand the chancellor reverses “the UK’s …
Business
Sky News
Tonight people will be paid to turn off their appliances – here’s why
Some households with smart meters could be eligible for discounts if they cut their use of electricity between 5 and 6pm today.The National Grid ESO (electricity system operator) is, for the first time, activating the “demand flexibility service (DFS)” – which allows it to access additional flexibility when national demand is at its highest during …
Business
Sky News
People will be paid to turn off their appliances today and tomorrow – here’s why
Plans for energy companies to offer people discounts for cutting their electricity usage have been extended into tomorrow. Some households with smart meters could be eligible for the reductions if they save energy between 5pm and 6pm on Monday, and between 4.30pm and 6pm on Tuesday. For the first time, the National Grid ESO (electricity …
Business
Sky News
People will be paid to turn off their appliances today – here’s why
Plans for energy companies to offer people discounts for cutting their electricity usage have been extended. Some households with smart meters were eligible for the reductions if they saved energy between 5pm and 6pm yesterday – and this will also apply between 4.30pm and 6pm today. For the first time, the National Grid ESO (electricity …

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