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21.10.2024 - 09:47
Business
Sky News
Ocado Group lines up ex-Microsoft exec as next chairman
A former Microsoft executive is being lined up as the next chairman of Ocado Group, the online grocery technology provider.Sky News has learnt that Adam Warby, who chairs the board of executive search firm Heidrick & Struggles and serves as a senior advisor to KKR, the US-based investment powerhouse, has emerged as the leading candidate …
21.10.2024 - 09:01
Business
Sky News
Bonus payments to water company bosses rise to £9.1m amid sewage scandal
Bonuses to water company bosses rose this year to £9.1m – despite record sewage discharges and financial woes at some utilities.Executives from English and Welsh water firms received a total of £9,126,858 in the 2023/2024 financial year, up from £9,012,777 a year earlier, according to analysis of company filings done by the Liberal Democrats. When …
20.10.2024 - 13:06
Business
Sky News
Doubts grow over Reaction Engines rescue deal with UAE fund
The prospects of a rescue deal being struck for a British hypersonic aviation pioneer appeared to recede this weekend when it emerged that talks with a Gulf-based state fund had stalled.Sky News has learnt that negotiations between Reaction Engines and the UAE’s Strategic Development Fund, the investment arm of the UAE’s Tawazun Council, about it …
20.10.2024 - 11:19
Business
Sky News
How the odd bet on football could cost you a mortgage
While having the odd bet on your football team to win at the weekend sounds like a bit of harmless fun, it could actually scupper your chances of getting a mortgage. Lenders have always been cautious when it comes to approving mortgages, but some brokers have noticed that even the odd gambling transaction is now …
19.10.2024 - 07:35
Business
Sky News
Whitehall to deliver plan to mutualise crisis-hit Post Office
Ministers are exploring plans to hand ownership of the Post Office to thousands of sub-postmasters across Britain in an historic shake-up at the 364 year-old institution.Sky News has learnt that the Department for Business and Trade (DBT) has asked BCG, the management consultancy, to examine options for mutualising the Post Office. The work is said …
18.10.2024 - 16:20
Business
Sky News
Settlement with former chief Danker ‘cost CBI £500,000’
Tony Danker, the former director-general of the CBI, is to receive in the region of £500,000 from the business lobbying group in a settlement reached nearly a year after he was ousted in the midst of a wider sexual misconduct scandal.Sky News has learnt that Mr Danker, who left the organisation in April 2023, struck …
18.10.2024 - 13:50
Business
Sky News
Entrepreneurs will abandon UK if capital gains tax increases, BrewDog founder warns
The founder of BrewDog has claimed that entrepreneurs will abandon Britain if capital gains tax is increased.James Watt, the founder of the brewery and pub chain, told Sky News that a significant rise in the tax “will do far more damage to our economy” and deal a hammer blow to the prosperity of every family. …
18.10.2024 - 12:56
Business
Sky News
Fund manager Baillie Gifford issues ‘return-to-office’ edict
Baillie Gifford, the Edinburgh-based fund manager, has told staff to return to full-time office working, the latest in a string of employers to cool on pandemic era remote working practices.Sky News understands that Baillie Gifford’s roughly-1,800 employees were notified in a video call several weeks ago that they were expected to attend its offices rather …
18.10.2024 - 10:00
Business
Sky News
Very Group tabled offer for Simply Be-owner ahead of family buyout
The home shopping group behind fashion brands such as Simply Be and Jacamo, received a takeover proposal from Very Group shortly before it agreed to be taken private by a member of its founding family.Sky News has learnt that Very Group – which is chaired by the former Conservative chancellor Nadhim Zahawi – made a …
18.10.2024 - 09:40
Business
Sky News
3i picks bankers to swallow £500m Applaws pet food maker
3i Group, the listed private equity group, has picked bankers to sell the pet food manufacturer behind leading brands including Applaws.Sky News has learnt that 3i has appointed Harris Williams to handle an auction of MPM four years after it bought a controlling stake in the company. Based in Manchester, MPM was founded in 2002 …
17.10.2024 - 17:13
Business
Sky News
Thames Water bondholders split amid fight to avert nationalisation
A collection of bondholders in Thames Water are mobilising to protect their interests amid an intensifying battle to avert the company’s nationalisation.Sky News has learnt that Class B bondholders were notified on Thursday they would no longer be part of the same group as the Class A noteholders represented by Jefferies, the investment bank, and …
17.10.2024 - 14:39
Business
Sky News
Wagamama-owner seeks to lock in lower interest rates with refinancing
The owner of Wagamama has begun exploring a £300m refinancing as it seeks to reduce its borrowing costs by locking in lower interest rates.Sky News has learnt that The Restaurant Group (TRG), which delisted from the London Stock Exchange last year after being bought by Apollo Global Management, is in talks with banks about securing …