A £15bn merger between two of the UK’s biggest mobile networks could get the green light – if they stick to their commitments to invest in the country’s infrastructure, the competition watchdog said. The Competition and Markets Authority (CMA) said the merger of Vodafone and Three has “the potential to be pro-competitive in the UK … Read more
Ryanair – Europe’s largest budget airline – reported a significant drop in profits and trimmed its growth forecast amid challenges caused by Boeing aircraft delivery delays, falling prices and consumer spending pressures. For the six-month period to September, Ryanair’s net profit fell 18% to £1.5bn, down on the same period last year. The airline attributed … Read more
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
Restaurant chain TGI Fridays has filed for bankruptcy protection in the United States. The filing for bankruptcy protection was filed by TGI Fridays Inc., the American arm of the Dallas-based casual dining brand, which operates 39 restaurants in the United States. This comes after the company faced financial challenges due to the Coronavirus (COVID-19) pandemic … 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