The founder of Argentex Group, the foreign exchange group that collapsed this year due to market turmoil triggered by President Trump’s tariff regime, has won the backing of Australia’s most powerful financial group for his latest venture. Sky News has learned that Macquarie’s Commodities and Global Markets group has taken a minority stake in Tenora, … Read more
One of the world’s biggest property investors is in advanced talks with a London-listed group over a £1bn logistics deal – weeks after the duo were embroiled in a takeover bid war for another industrial property group. Sky News has learned that Blackstone, the US private equity giant, is close to agreeing a deal to … Read more
Customers of five water companies are facing higher-than-expected bill rises to combat inflation after the companies challenged limits imposed by the sector regulator. The Competition and Markets Authority (CMA) has been called in to review Ofwat’s determinations on what Anglian Water, Northumbrian Water, South East Water, Southern Water and Wessex Water could charge customers from … Read more
Legal & General (L&G) is planning an attack on the workplace pensions provider owned by FTSE-100 lender NatWest Group as its chief executive seeks to increase its share of the UK pensions market. Sky News has learned that L&G is one of a handful of suitors who have expressed interest in acquiring Cushon from NatWest. … Read more
Private equity firm Exponent is among a group of suitors considering a takeover of the UK arm of ADT, one of Britain’s largest providers of home security systems. Sky News has learned that Exponent, which owns companies including Ambassador Theater Group, Big Bus Tours and newspaper publisher Racing Post, is considering buying the business from … Read more
Google has warned the UK against imposing “onerous” and costly regulations after the competition watchdog ruled it had “strategic market status” for its search services. The Competition and Markets Authority (CMA) said the legal criteria had been met to appoint Google with status as a general search service and search advertising due to its “substantial … Read more
Metals magnate Sanjeev Gupta has opened a new front in the battle to save his crumbling business empire with a legal action asserting his ownership of a $3 billion Australian steel producer. Sky News understands Mr Gupta’s holding company GFG Alliance has filed a claim with the High Court challenging a claim over its shares … Read more
Longtime private equity investors in The Alchemist, the popular downtown cocktail bar chain, are ending their ownership of the company. Sky News has learned that Palatine, who has owned The Alchemist since 2015, was working with advisers on an auction of the company. The Alchemist, which has weathered a difficult economic environment exacerbated by tax … Read more
The Post Office’s IT scandal compensation systems need to be improved and legal advice for victims funded, according to the government, which could create an independent body to deal with similar miscarriages of justice in the future. These announcements were made as part of the official response to the damning conclusions of the first volume … Read more
Britain is at the lowest risk of winter blackouts it has been at any time in the past six years, the national power grid operator has said. Not since the pre-pandemic winter of 2019-20 has the risk been this low, the National Energy System Operator (NESO) said. This is thanks to increased battery capacity to … Read more