The family that has owned Ann Summers, the lingerie and sex toy retailer, for more than half a century will explore options for the business, which could include a partial or majority sale. Sky News has learned that the Gold family is set to hire Interpath, the business consultancy, to work on a strategic review … Read more
Apax Partners is leading the race to buy the accounting arm of Evelyn Partners, a deal that is expected to revive one of the best-known names in the sector. Sky News has learned that Apax and Bridgepoint are the final two contenders to buy the company, with the deal expected to be signed as early … Read more
Bosch to cut up to 5,500 jobs due to slow sales of electric vehicles and competition from Chinese imports. It is the latest blow to Europe’s auto industry after Volkswagen and Ford announced thousands of job cuts last month. Cheaper electric cars made in China have made it harder for European manufacturers to remain competitive, … 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
An investigation is underway against the French defense company Thales for suspected bribery and corruption, the British Serious Fraud Office (SFO) announced. A statement, issued shortly after French financial markets closed, said a joint investigation involving the SFO’s French counterparts, the PNF, was underway. The case did not detail allegations beyond the alleged offenses, although … Read more
The sector regulator has banned nine water companies from using their customers’ money to fund “undeserved” bonuses. Ofwat said it had stepped in to use its new powers on water companies that cannot demonstrate that bonuses are sufficiently linked to performance. Blocked payments amount to 73% of the total executive rewards offered across the industry. … Read more
Nvidia, the chipmaker behind the artificial intelligence (AI) boom, saw its share price fall again following its earnings release amid continued constraints on the chain supply. Its third-quarter trading update showed that demand for its cutting-edge generative AI chips would continue to outstrip supply for at least another year. Some might say it’s a nice … Read more
Private equity firm Cinven is in advanced talks to acquire a major stake in Grant Thornton UK, a deal believed to be among the largest ever in the UK audit industry. Sky News has learned that Cinven is close to agreeing a deal to acquire the stake, with sources suggesting on Wednesday it could be … Read more
The governor of the Bank of England said industry lobby group the British Retail Consortium (BRC) was right to warn of job losses resulting from the Budget. There is a “risk” of rising unemployment due to increases in employers’ national insurance contributions and increases to the minimum wage announced by Chancellor Rachel Reeves last month, … Read more
Four suspects have so far been identified by police investigating possible criminal charges in the Post Office scandal, Sky News has learned. Sources said among the offenses being considered are perverting the course of justice and perjury. Hundreds of deputy postmasters were wrongly prosecuted for stealing from their branches between 1999 and 2015 after faulty … Read more