Thames Water has won court approval to proceed with the next phase of securing a £3 billion emergency loan, with a hearing to seek approval from creditors scheduled for four days in the first week of February. The troubled utility told the High Court that without the loan it would run out of cash by … Read more
Sir Keir Starmer has defended the decision not to compensate women affected by the pension age change – saying it would “burden” the taxpayer. The Prime Minister said he understood the concerns of Women Against State Pensions Inequalities – often known as the Waspi Women – but that their demands were not affordable. He was … Read more
The Royal Mail group is set to pass into the hands of foreign investors, but the State will retain a “golden share” in the company. This means the the government will have to approve any key changes to Royal Mail’s ownership, head office location and tax residency. This is something the government does with companies … Read more
Closing statements are being presented to the Post Office Horizon IT inquiry and lawyers for key figures have submitted their final arguments. Ancient Post Office Boss Paula Vennells says in her own written statement posted online that she is “devastated” that information “was not shared with her” about the faulty Horizon IT system. It is … Read more
Popeye can strike without permission and Tintin can move freely starting in 2025. The two classic comic book characters who first appeared in 1929 are among the intellectual properties in the making. public domain in the United States on January 1. This means they can be used and reused without permission or payment to the … Read more
This is a crucial week for the water industry. Regulator Ofwat will make its “final determination” on Thursday on how bills will rise over the next five years. Before that, Britain’s largest company Thames water hopes to gain court approval for a £3bn bridging loan to avoid running out of cash in the spring. Together … Read more
UK-based partners at Grant Thornton, the accountancy firm, have voted to sell a majority stake to Cinven, the private equity firm. Sky News has learned that the GTUK partnership voted unanimously in favor of the deal, a decision which is expected to be announced internally as early as Monday. Support for this operation was widely … Read more
The private equity firm surrounding Boots the Chemist’s parent company is assembling funding from a syndicate of banks for a possible buyout deal worth more than $10 billion. Sky News has learned that Sycamore Partners is arranging debt financing for a deal to buy Walgreens Boots Alliance, with Bank of America, JP Morgan and Wells … Read more
Tube and train fares in London will increase by 4.6% from next March, the capital’s mayor announced. This increase corresponds to the increase in regulated rail fares for major rail lines in England. From March 2, Transport for London’s (TfL) daily caps will increase by 40 pence to 70 pence, depending on the areas traveled. … Read more
The economy remained in reverse gear in October, according to official figures covering the month before the government’s first budget. The Office for National Statistics (ONS) said output fell 0.1% following the 0.1% fall recorded the previous month. It was the first time since the COVID pandemic that the economy contracted for two consecutive months. … Read more