The owners of Scotland’s only oil refinery have rejected a US-led approach to a possible takeover bid months before its planned closure. Sky News has learned that a consortium believed to be led by Robert McKee, a veteran of the US energy industry, has written to Petroineos, owner of the Grangemouth site, to express its … Read more
Cineworld’s hedge funders are drawing up plans to return the cinema operator to the public markets, amid continued uncertainty over the future of dozens of its UK sites. Sky News has learned that the company’s owners are in the early stages of considering a listing of the business in New York, with the first half … Read more
Labor has come to power and the economy is in decline. It is This is not the news the Chancellor expected, and it highlights the challenges she faces in delivering on the government’s promise to boost growth. The economy contracted by 0.1% in September and grew by just 0.1% in the first three months of … Read more
Water company United Utilities has reported hundreds of millions in profits as it seeks to further increase its customers’ bills. The utility serving seven million customers in the North West of England recorded £335.7m in underlying operating profits for the first half of this year, up almost 23% year-on-year. compared to £271.1m a year ago. … Read more
A former Conservative minister has thrown his hat into the ring to become the first chairman of Britain’s new independent football regulator. Sky News has learned that Chris Heaton-Harris, who resigned as an MP in July’s general election, is among those who applied for the role before Friday’s deadline. Mr Heaton-Harris is himself a qualified … Read more
Pizza Hut’s largest UK franchisee has started contacting potential bidders as it works to mitigate the looming impact of tax rises announced in last month’s Budget. Sky News has learned that Heart With Smart (HWS), which operates around 140 Pizza Hut restaurants, has asked its advisers to find a buyer or raise tens of millions … Read more
Anyone who has tried to get a mortgage while self-employed is unlikely to have fond memories of it. Much more paperwork, from tax returns to bank statements dating back several years, may be required. And then there’s the fact that most accountants will have tried over the years to reduce your tax liability, by claiming … Read more
The government has brought in city lawyers to review a proposed bailout deal from Harland & Wolff, the owner of the shipyard that built the Titanic. Sky News has learned that ministers have called in external advisers to assess whether the renegotiation of a Ministry of Defense contract to facilitate the sale of the company … Read more
Typhoo Tea is preparing to enter administration after 120 years in business, amid falling sales and growing debt. Typhoo, one of Britain’s oldest tea companies, has filed a court case to explore potential solutions, with the intention of appointing EY as administrator. In a statement to Sky News, chief executive Dave McNulty said: “This action … Read more
The UK economy grew by 0.1% between July and September, according to the Office for National Statistics (ONS). However, despite the slight positive GDP growth recorded in the third quarter, the economy contracted by 0.1% in September, dampening overall growth in the quarter. Growth was also slower than experts had expected and down from growth … Read more