The UK arm of Grant Thornton, the accountancy and professional services provider, is drawing up plans to invest millions of pounds in its Indian sister firm. Sky News understands that the top ten auditor has asked its more than 200 UK partners to vote on the proposal later this month. One source said the deal
Business
HS2 is the UK’s biggest infrastructure project, which is supposed to transform public transport between London, the Midlands and the North. But it is becoming synonymous with disappointment, delays and an enormous bill. It’s been backed by more than one government and political party, with prime minister Boris Johnson signalling it could go ahead yet
The economy rebounded to grow by 0.3% in January, according to official figures which reaffirmed that the UK avoided recession at the end of last year. The Office for National Statistics (ONS) reported a recovery for output last month after the bigger than expected contraction of 0.5% witnessed in December, which went unrevised in the
The biggest producer of oil and gas in the North Sea has reported that the government’s energy profits levy (EPL) has “all but wiped out our profit for the year”. Harbour Energy said it had “reduced our UK investment and staffing levels” and bolstered its aim to expand elsewhere as a result of the hit
The Rail, Maritime and Transport Workers’ union (RMT) has said planned strike dates on 14 train operators will go ahead, but they insist they are open to discussions with bosses. The union said the Rail Delivery Group (RDG), representing 14 train operators, invited them to discussions to settle its ongoing dispute, but on the condition
Heathrow Airport says it is “considering its next steps” after the industry regulator ruled it must cut per passenger fees it charges airlines from next year. The Civil Aviation Authority (CAA) said Britain’s hub airport could charge an average maximum price per passenger of £27.49 over the 2022-2026 period. It marked a significant victory for
The Rail, Maritime and Transport Workers’ union has suspended all industrial action against Network Rail following a new pay offer. Strike action was due to take place from 2am on 16 March until 01.59am on 17 March. A ban on overtime – which can be disruptive for maintenance works – had been due to follow.
When Amish Patel followed his father into the pharmacy business, he hoped it would be a job for life. But with the cost of everything from medicines to energy rising, it has become increasingly difficult to pay the bills. “In 2020 my pharmacy made the first ever loss in its business profits, which for a
The director general of the Confederation of British Industry (CBI) Tony Danker has stepped aside from the role while the business lobby group investigates allegations relating to his workplace conduct. The body said he had requested to leave the role while a number of allegations were examined. Mr Danker responded to the claims in a
Hundreds of thousands of the UK’s smallest businesses risk going under this year as costs keep rising, a report has revealed. The owners of nearly one in eight microbusinesses, defined as employing fewer than 10 people, fear they will have to fold, equating to 630,000 businesses. Catherine Sweet sells art for a living – both
Foxtons Group, the listed estate agency chain, is snapping up a London-based rival as it continues its assault on the capital’s lettings market. Sky News understands that Foxtons, known for its distinctly liveried vans, has agreed a deal to buy Atkinson McLeod. The deal, which is understood to be valued at less than £10m, is
Manchester United bidders are due to meet with the club in the next two weeks and gain access to accounts – enabling offers to end the ownership of the Glazers. Sky News understands the two declared bids are now progressing two weeks after the deadline to declare interest – from Qatari hopeful Sheikh Jassim bin
An arm of the Wall Street behemoth Goldman Sachs is among the suitors hoping to take a mouthful of Subway, the global sandwich chain which has been put up for sale with an estimated $10bn price tag. Sky News has learnt that Goldman Sachs Asset Management (GSAM) is one of at least a handful of
Support for energy bills from the government is expected to continue for three months from April, protecting consumers from an average increase of £500. Sky News understands the chancellor will cancel a reduction in support that would have seen typical annual bills rise from £2,500 to £3,000. In recent days, the government has asked energy
A major Cambridge-based microchip designer has decided not to list on the London Stock Exchange, despite lobbying from three UK prime ministers. Arm, the Japanese-owned and Cambridge-headquartered company, announced on Thursday night it would list on the New York Stock Exchange, snubbing the City of London. Its owner, the giant Japanese technology investor SoftBank, spent
WH Smith has said it has been the target of a cyber attack that has seen hackers access company data. The high street retailer added hackers have also been able to access current and former employee information. It said the hack has not impacted its trading activities and stressed its website, customer accounts and customer
More than three in four mothers (76%) who pay for childcare say it no longer makes financial sense for them to work, a survey of thousands of parents has found. A new report by the charity Pregnant Then Screwed warns the ever-increasing costs of childcare are driving families into debt – or preventing them from
Interest rates may rise less than previously thought with the governor of the Bank of England signalling there is no urgent need for hikes. The central bank has been consistently raising interest rates – making borrowing more expensive – in an effort to bring double-digit inflation down to the Bank’s 2% target. Further increases had
Brexit and bad planning – along with weather – are to blame for the fruit and vegetable shortage affecting the UK’s supermarkets, Spain’s agriculture minister has said. Major chains Tesco, Aldi, Lidl, Morrisons and Asda have imposed limits on the number of certain items customers can buy. Fruits and vegetables increasingly sourced from Morocco and
A further 2,000 pubs are at risk of closure, threatening 25,000 jobs, unless the chancellor comes to the sector’s aid in this month’s budget, according to an industry body. The British Beer and Pub Association (BBPA) cited research by Oxford Economics which forecast 288 million fewer pints would be sold in the next financial year
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