A group of financial heavyweights offering Britain’s biggest water supplier a £1.5bn lifeline are calling on the company’s other backers to accept the plan in a last-ditch effort to save the utility. Thames water It has been struggling to stay afloat since March when its investors refused to give it more money, raising the possibility … Read more
Former Conservative chancellor Nadhim Zahawi is in talks to pave the way for a takeover of the Daily Telegraph newspaper led by New York-based media investor Dovid Evony. Sky News has learned that Zahawi has been working for several weeks with LionTree, Mr Efune’s investment banking adviser, on the deal, which is expected to be … Read more
Economists have warned that hopes for the Bank of England to make successive interest rate cuts over the next two months have been dampened by the UK government’s latest budget. These interest rate cuts typically reduce borrowing costs for consumers and businesses over time. The likelihood of successive cuts has declined as the market digests … Read more
Spanish shipbuilder Navantia is racing to finalize a takeover of the stricken shipyard owner that built the Titanic amid urgent talks to rework a major government contract. Navantia is trying to negotiate more favorable terms for a deal to build three Fleet Solid Support (FSS) ships for the Royal Navy as part of the Harland … Read more
Football financier Keith Harris is leading a bid to buy a 45% stake in Premier League football club Crystal Palace in a deal that could be worth nearly £200m. Sky News has learned that Mr Harris is advising a group of businessmen including Zakaria Janjua and Nafshir Jaffer on a bid for shareholding in Eagle … Read more
The joint owner of Chelsea Football Club has joined forces with one of his fellow board members to bid for the most valuable team in England cricket’s 100 competition. Todd Bohle is backing a bid led by Jonathan Goldstein, the British property tycoon, in a bid for a major stake in London Spirit, the Lords-based … Read more
UK markets steadied on Friday, offering some reassurance to Rachel Reeves as investors, policymakers and business continue to digest the scale and implications of her first Budget. Testified on Thursday An unusually large increase In the cost of UK government borrowing in response to the massive package of tax rises and increased borrowing. Yields on … Read more
The Business Secretary is due next week to hold talks with dozens of private sector bosses as the government faces a corporate backlash to Labour’s first financial event in nearly 15 years. Sky News has learned that executives have been invited to join a conference call on Monday with Jonathan Reynolds, in what will mark … Read more
The cost of government borrowing jumped, while UK stocks and the pound rose, as markets digested news of billions in borrowing and tax rises announced in the Budget. while There was no panicThere has been concern about the amount of borrowing and changes to the Chancellor Rachel ReevesWhich she imposed on herself Borrowing rules. When … Read more
First things first: Don’t panic. What you need to know is this. Budget It was not good in the financial markets. In fact, it has fallen as badly as any budget in recent years, with the exception of Liz Truss’s small budget. The pound is weaker. Government bond yields (basically the interest rate the Treasury … Read more