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
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