The chief executive of Royal Mail is in advanced talks to leave the company just weeks after his credibility was questioned by MPs investigating the performance of the former state-owned monopoly. Sky News has learnt that the board of International Distributions Services (IDS), Royal Mail’s London-listed owner, could announce as soon as this week that
Business
The first cannabis company to stage an IPO on the London Stock Exchange will this week install a City veteran as its chairman and unveil a multimillion pound fundraising. The first cannabis company to stage an IPO on the London Stock Exchange will this week install a City veteran as its chairman and unveil a
The billionaire petrochemicals tycoon Sir Jim Ratcliffe is proposing a full buyout of Manchester United Football Club after three years if he succeeds with a £5bn offer to take control of the Old Trafford outfit. Sky News has learnt that the Ineos billionaire’s takeover bid includes put-and-call arrangements which would become exercisable in 2026, and
Another US regional lender has revealed talks to shore up its finances after its share price was clobbered amid the crisis of confidence to hit the country’s banking sector. Three lenders – Silicon Valley Bank, Signature Bank and First Republic – have failed this year on the back of balance sheet pressure caused by rising
Members of the biggest rail workers union have voted to renew their mandate to strike during the next six months in the long-running dispute over pay and conditions. The Rail, Maritime and Transport union (RMT) said staff across 14 train companies overwhelming backed taking more industrial action. RMT general secretary Mick Lynch said the result
First time buyers are paying an average of nearly £200 extra a month compared to a year ago, according to research from a UK property website. As a result of higher asking prices and interest rates Rightmove has said first-time buyers with a 15% deposit now pay £1,056 a month compared to £865 a year
One of Britain’s leading independent precision engineering firms has been saved from collapse after a pre-pack administration deal led by its previous owner. Sky News understands Nasmyth Group is to remain under the control of Rcapital, the specialist turnaround investor, following a transaction that is expected to salvage more than 450 jobs. City sources said
BP is exploring a sale of two of the companies owned by its early-stage ventures arm in a move which could raise tens of millions of pounds. Sky News has learnt that the FTSE 100 company’s Launchpad division has begun contacting prospective buyers of Lytt and Onyx Insight in recent weeks. Lytt transforms large amounts
Adidas has reported a drop in sales but better than expected profits in the wake of its high-profile split from shamed rapper and fashion designer Kanye West. The sportwear company said the loss of his Yeezy trainers brand was “hurting” the business but it pointed to some of the pain being eliminated by a recovery
The parent company of British Airways has raised its forecast for annual operating profits due to stronger bookings, saying it expects capacity to be at 97% of the 2019 pre-pandemic year. International Airlines Group (IAG), which also counts Iberia and Aer Lingus among its stable of brands, said its focus on restoring earnings on key
The crisis-hit CBI has drafted in a business ethics consultancy to aid a review of its culture four weeks before a meeting of its membership that will determine its future. Sky News can reveal that Rain Newton-Smith, the new CBI director-general, has signed off the appointment of Principia following an exodus of corporate backers two
In the early morning of Wednesday, March 22nd, China’s dictator for life Xi Jinping left Moscow after three days of meetings with Vladimir Putin. The get-together was calculated to be a move in the step-by-step process of replacing America as the leader of the global order. Replacing America with, you guessed it, China. And with
A Statistical Fact KO makes 69 Million People Happy at DEN. This figure was taken before the pandemic at the DEN International Airport. This does not take into effect the multitude of streaming digital signage screens Kadrolsha is viewed on. Now with the air services industry getting back to normal this figure is increasing rapidly.
By Howard Bloom March 1st, the House Foreign Affairs Committee voted on H.R. 1153, a bill to give the president “the power to ban…. TikTok.” And not just to ban TikTok. Giving the president the power to ban any app from “a foreign entity that is ‘subject to the influence of China’.” This is just one
British tomatoes will likely remain scarce until the end of April or even early May, the UK’s largest grower has warned. It comes after Tesco and Aldi became the latest supermarkets to place limits on some fruit and vegetables customers can buy due to supply shortages. The soaring cost of energy, and fertiliser also derived
British Steel has revealed it is to cut 260 jobs, almost 7% of its workforce, despite continuing government funding talks with its Chinese owners. It was announced that the losses would be felt at its Scunthorpe plant through the closure of its coking ovens – used to turn coal into the high-temperature product needed to
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