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
NatWest Group is to give its CEO a potential multi-million pound raise as it becomes fully privately owned again after almost 17 years in state hands. Sky News has learned that the chair of the bank’s remuneration committee, Lena Wilson, is consulting with major institutional shareholders over an overhaul of its board remuneration policy. Details … Read more
Royal Mail has been fined £10.5 million for missing postal delivery targets. Regulator Ofcom said 74.7% of first class mail and 92.7% of second class mail were delivered on time in 2023/24. The targets were 93% and 98.5%. It is the second time Ofcom has fined Royal Mail since the pandemic and it “needs to … Read more
The Prime Minister and Chancellor were in sync as they reacted to the GDP figures released on Friday morning. “Disappointing,” said the Prime Minister’s spokesperson, echoing Rachel Reeves» the words two hours earlier. THE The British economy has contracted for one second monthcontracting by 0.1% in October. Money Blog: Latest Updates Please use Chrome browser … Read more
Another leading technology company is being swallowed up in a transatlantic takeover that will underline the scale of the raid on some of Britain’s most promising companies. Sky News has learned that Demica, one of the UK’s largest supply chain finance providers, has agreed a deal with FIS, the New York-listed tech giant, valued at … Read more
A British hedge fund trader has been sentenced to 12 years in prison in Denmark for a billion-pound tax fraud. Sanjay Shah54, was behind a business scheme known as ‘cum-ex’ which fraudulently obtained 9 billion Danish kroner (£1 billion) in dividend tax refunds from the Danish Treasury between 2012 and 2015. Shah, who appeared in … Read more
Time is running out to ensure mailed holiday items arrive on time. An estimated 2.2 billion packages will be shipped this holiday season, according to ShipMatrix Inc. The last day for FedEx Ground Economy is Friday, December 13 and Wednesday, December 18 is the deadline for US Postal Service ground and first class mail. Procrastinators … Read more
The publisher of the Daily Telegraph will offer hundreds of staff a £500 bonus this month as uncertainty over its ownership is expected to stretch into a third calendar year. Sky News saw an email sent on Thursday from Anna Jones, chief executive of Telegraph Media Group, in which she informed employees they would receive … Read more