Reaction Engines, the British leader in supersonic aviation, has crashed into administration after weeks of talks with potential backers failed to produce a rescue deal. Sky News has learned that 173 of the company’s 208 staff were made redundant on Thursday morning by directors at PricewaterhouseCoopers (PwC). The collapse of the company that makes advanced … Read more
Britain’s four biggest supermarket chains face paying an extra £200m in National Insurance contributions between them, as the Chancellor prepares to raise tens of billions of pounds from raiding companies. Sky News understands that Tesco, Asda, J Sainsbury and Wm Morrison could be hit by an additional tax bill from a two percentage point increase … Read more
Volkswagen plans to close at least three factories in Germany and lay off tens of thousands of employees. The rest of its plants are in Germany It is also scheduled to downsize, according to the head of the company’s business council, Daniela Cavallo. Europe’s largest carmaker has spent weeks negotiating with unions over its plans … Read more
Hospitality industry bosses have urged trade unions to abandon a wave of London Underground strikes, warning they will put jobs at risk and businesses at risk of collapse. Sky News has seen a letter sent by Kate Nicholls, chief executive of UK Hospitality, calling on City Hall and the ASLEF and RMT unions to negotiate … Read more
Sister Wives star Kody Brown opened the way to Robyn Brownthe future of Europe a long time ago, and today it seems to be bearing fruit. After the latest news regarding the purchase of their new estate, fans can’t help but wonder what Kody and Robyn are up to. Sister Wives: Kody Brown’s Ex-Wives Are … Read more
A former head of one of Britain’s largest auditing firms is set to step down as chairman of Interpath, the independent consultancy, due to a potential conflict of interest related to the selection of the private equity backer’s auditor. Interpath, which has been brought on board by billionaire Sir Jim Ratcliffe in his cost-cutting drive … Read more
Britain’s biggest energy retailers have told ministers they will provide more than £500 million of extra help to households as the government tries to avoid criticism over the row over winter fuel payments. Sky News has learned that the industry body, EnergyUK, plans to make a joint announcement with the Department for Energy Security and … Read more
The Premier League is making plans to submit new proposals to its clubs for a financial settlement with the English Football League (EFL) as soon as next month. Sky News has learned that the Premier League shareholders’ meeting on November 22 is expected to include a discussion on a range of new offers to be … Read more
Mitty Group, the London-listed outsourcing company, has begun a search for a successor to Derek Mapp, its long-serving chairman. Sky News has learned that the FTSE-250 company is working with search firm MWM Consulting to search for a replacement for Mr Mapp. According to city sources, the search for potential candidates began in the past … Read more
Technology entrepreneur who introduced Rachel Reeves ahead of her speech at the Labor Party conference this autumn is raising £5m for her architectural technology start-up. Sky News understands that Resi Design, which was co-founded by Alex Depledge and counts broadcaster ITV among its shareholders, is in detailed talks to close a funding round that would … Read more