Pizza Hut’s largest franchise restaurant in the UK is set to agree a rescue deal that would save the vast majority of its UK outlets and jobs. Sky News has learned that Directional Capital, an investment company which already controls much of Pizza Hut’s restaurant operations in Denmark and Sweden, is in advanced talks to … Read more
The Post Office is proposing a sharp increase in the fees banks pay to allow their customers to access its network, in a bid to secure additional funds to increase postmasters’ salaries. Sky News understands that more than two dozen banks and building societies are considering a proposal put to them recently by the Post … Read more
A powerful government panel failed Monday to reach consensus on the possible national security risks of a proposed nearly $15 billion deal by Japan’s Nippon Steel to buy U.S. Steel, leaving the decision to President Joe Biden, a long-time opponent of the agreement. The Committee on Foreign Investment in the United States, known as CFIUS, … 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
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
The Guardian’s owner is pushing ahead with the sale of the world’s oldest Sunday newspaper to a fledgling digital media company, just hours after scores of journalists went on strike to protest the deal. Guardian Media Group (GMG) and its parent company, Scott Trust, confirmed on Friday that the sale of The Observer to Tortoise … Read more
Harland & Wolff (H&W), the owner of the shipyard that built the Titanic, is close to reaching a government-backed rescue deal with a Spanish shipping industry group. Sky News can reveal that Navantia has won approval from Downing Street to acquire H&W’s four UK shipyards in a deal which could be formally agreed as early … Read more
Fourteen new trains are to be built at a Hitachi factory in County Durham, securing hundreds of jobs. The plan saves 700 jobs with a £500 million investment for the Newton Aycliffe site. The factory and its workers faced an uncertain future with a looming break in their order book before work began. HS2 (High … Read more
A music streaming service, whose shareholders include U2 bassist Adam Clayton and financier Guy Hands, is set to undergo a solvent restructuring that will pave the way for it to launch a series of new interactive TV channels in the UNITED STATES. Sky News has learned that the assets of MagicWorks, which trades as ROXi, … Read more
Lomond Group, the letting agent chain owned by an arm of Britain’s biggest lender, is to change hands in a deal worth around £450m. Sky News has learned that ICG, the London-listed investor, has agreed a deal to invest in Lomond following a months-long auction. Municipal sources indicated that an agreement should be signed in … Read more