NatWest Group is contemplating an audacious takeover bid for one of Britain’s biggest wealth managers in a move that would represent its biggest corporate acquisition since it was rescued by taxpayers nearly 15 years ago. Sky News has learnt that NatWest is in the early stages of considering an offer for Tilney Smith & Williamson,
Business
The government’s business misconduct watchdog has launched criminal and civil probes into P&O Ferries, adding to pressure on the embattled company. The move comes two weeks after P&O Ferries sacked nearly 800 workers and replaced them with lower-paid crew, a decision that the government called illegal. Business Secretary Kwasi Kwarteng confirmed on Friday afternoon that
A London-listed gold mining group which was prevented from making a loan repayment this week after its Russian lender was sanctioned is lining up advisers to help restructure its borrowings. Sky News has learnt that Petropavlovsk, which has seen its shares plummet in the last year, is preparing to bring in AlixPartners to advise it
Household energy bills prices are likely to rise even higher this autumn as the war in Ukraine deepens the gas crisis, the boss of one of the UK’s largest energy companies has told Sky News. Greg Jackson, founder and chief executive of Octopus, which has more than two million direct customers, said volatility in wholesale
Energy customers around the country have been struggling to submit gas and electricity meter readings, a day before prices are set to soar when the price cap is raised. Millions of households will see their energy bills rise to a typical £1,971 a year when the cap is changed on 1 April. The 54% increase
Community volunteers have shared their concern about the cost of living crisis and its impact on children. One mother told Sky News her two sons had gone hungry in the past. Another group – offering free hot meals – estimated more than half of the children they are feeding are malnourished. Image: Nighat Bhola (left)
The government’s lead non-executive director has quit with more than a year of his term to run, paving the way for a prominent businessman to inherit one of the most powerful roles in Whitehall. Sky News has learnt that Lord Nash, who was appointed by the prime minister in July 2020, has stepped down from
Germany has declared an “early warning” of a gas supply emergency, in one of the starkest signs yet that the Russian invasion of Ukraine is spilling over into European energy markets. The country said that its warning was intended to prepare for the risk of disruption to, or even the end of, natural gas flows
The boss of P&O Ferries has flatly rejected the government’s final plea to halt the process of making nearly 800 of its workers redundant. In a letter to transport minister Grant Shapps on Tuesday, the company said the process was in its final stages with most workers already accepting severance offers, and changing course now
Babcock International Group, the FTSE-250 government contractor, is in talks to offload the bulk of its emergency aviation services division, which counts Britain’s Air Ambulance fleet among its operations. Sky News has learnt that Babcock is in advanced negotiations with Ancala Partners, a London-based infrastructure investor, about acquiring a substantial chunk of the business it
A second P&O ferry, the Pride of Kent, is being detained after it failed safety checks by authorities amid the backlash over the company’s decision to replace 800 seafarers with lower-paid crew. The Maritime and Coastguard Agency (MCA) made the revelation as a new crewmember aboard a P&O vessel told Sky News there was an
Ministers and the Premier League will be presented with a preferred bid for Chelsea Football Club in three weeks’ time, paving the way for a change of ownership to take place by the end of next month. Sky News has learnt that a letter sent to the four remaining contenders to buy the Blues over
Sycamore Partners, the US- based private equity group, has tabled a £250m offer for the London-listed fashion chain Ted Baker. Sky News has learnt that a proposal valuing Ted Baker at 130p-a-share was submitted in writing in the last few days. It was unclear this weekend whether it had been formally rejected, although City sources
The four contenders vying to buy Chelsea Football Club will submit final bids on April 11, paving the way for a prospective new owner to seek government permission to take over from Roman Abramovich by the end of next month. Sky News has learnt that the remaining contenders have been notified by Raine Group, the
Hundreds of people have demonstrated against P&O Ferries’ sacking of 800 staff at ports across the UK, with some chanting: “P&O, shame on you.” Protesters carrying banners and placards gathered in Dover, Liverpool, and Hull as part of what they called the “fight for justice” for the seafarers dismissed without notice earlier this month. The
Petrol stations have failed to pass on the fuel duty savings announced by the chancellor in his spring statement, new data has shown. According to the AA, petrol prices have fallen just 2.71p, and diesel was down 1.59p, despite Rishi Sunak saying on Wednesday a 5p fuel cut would come into force immediately. Research from
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