Business

The parent company of PizzaExpress is hiring bankers to help it refinance a £335m bond ahead of its maturity, amid tough trading conditions for casual dining operators. Sky News has learnt that Wheel Topco is close to appointing PJT Partners, the investment bank, to advise it on talks with its debtholders. PizzaExpress trades from 359

A trio of buyout firms have been shortlisted to buy a stake in the UK operations of Grant Thornton, one of Britain’s six biggest accountancy firms. Sky News has learnt that Cinven, EQT and New Mountain Capital – the backer of Grant Thornton’s US business – have made the cut in a process that could

Scrutiny of Thames Water, the crisis-hit utility, will intensify this week when the industry regulator appoints LEK Consulting as an independent monitor of the company. Scrutiny of Thames Water, the crisis-hit utility, will intensify this week when the industry regulator appoints LEK Consulting as an independent monitor of the company. Sky News has learnt that

An American predator is close to sealing a £300m swoop on a division of De La Rue, the Bank of England’s banknote printer, in a move that will herald a break-up of the historic company. Sky News can exclusively reveal that Crane NXT, a New York-listed industrial technology group, was on Monday night close to

InPost, the operator of tens of thousands of parcel delivery lockers across Europe, is closing in on a deal to take full ownership of Menzies Distribution Group, the British logistics company. Sky News has learnt that InPost is in very advanced talks to acquire the 70% shareholding in Menzies that it does not already own.

The government will on Monday welcome more than £50bn of investment in the British economy as Sir Keir Starmer tries to reset his administration after a first hundred days market by scandal and infighting. Sky News has learnt that the International Investment Summit in the City of London will comprise more than £50bn of deal

The government had to “have a conversation” in order to secure the landmark DP World investment announcement that was reportedly derailed by comments from the transport secretary. Appearing on Sunday Morning With Trevor Phillips, Business and Trade Secretary Jonathan Reynolds was asked how close the government came to losing the £1bn commitment in the London

A £1bn investment in Britain by port operator DP World will go ahead as planned, after a frantic effort by ministers and diplomats to repair relations following a row with the Dubai-owned multinational that threatened to overshadow a crucial investment summit. On Friday, Sky News revealed that the planned investment was under review and that

The boss of the company that owns P&O Ferries will attend an investment summit in the UK despite the transport secretary’s scathing criticism, which included calls for a boycott of the shipping firm. Sky News understands Sultan Ahmed bin Sulayem, chief executive of Dubai-based DP World, will join the government’s Investment Summit on Monday. It

P&O Ferries is one of the few subjects on which Britain’s political class agree. Its summary sacking of 800 British seafarers and their replacement with cheaper, largely foreign agency staff is universally considered one of the most outrageous acts in the recent history of labour relations. Louise Haigh was among the first and loudest to

The government’s Investment Summit has suffered a major blow after ports and logistics giant DP World pulled a scheduled announcement of a £1bn investment of its London Gateway container port, following criticism by a member of Sir Keir Starmer’s cabinet. Sky News understands the Dubai-based company’s investment was due to be a centrepiece of Monday’s

The Post Office’s outgoing CEO today agreed the government is using the company as a “shield” over compensation schemes, while giving evidence at the inquiry. Nick Read, who resigned last month, was giving evidence at the Post Office Horizon IT Inquiry for the second day, with a focus on delays to victims’ financial redress. Edward

Hundreds of employees of the digital bank Monzo are being given the opportunity to sell part of their stakes in the company as its valuation soars to £4.5bn. Sky News has learnt that Monzo notified staff on Thursday that it was launching a secondary share sale backed by a number of the world’s leading technology

The outgoing boss of the Post Office has said he does not need to clear his name following criticism of his leadership over the Horizon IT scandal. Nick Read made the comments as he arrived for the first of three days of evidence to the inquiry into the scandal, in which more than 900 sub-postmasters

Lenders holding £12bn of Thames Water’s debt have held face-to-face talks with Ofwat this week to pitch a rescue deal that they believe would avert the nationalisation of Britain’s biggest water utility. Sky News has learnt that a creditor group advised by Jefferies, the investment bank, met officials from the industry regulator on Tuesday to

Investors managing more than £9trn in assets have backed a more “competitive” approach to British boardroom pay amid a growing debate about London’s attractiveness as a listing destination. Sky News has learnt that the Investment Association (IA), the influential industry trade body, will publish on Wednesday a revised set of remuneration principles aimed at the

The culture secretary will hold talks with a group of Premier League clubs on Wednesday about the government’s plans for a football watchdog, even as the sport’s top flight teeters on the brink of civil war. Sky News has learnt that Lisa Nandy will meet executives from clubs including Crystal Palace, Liverpool and Tottenham Hotspur

A big four audit firm and one of Britain’s high street banks have resumed their membership of the CBI, delivering a boost to the scandal-hit lobbying group’s hopes that it can recover its long-standing influence in government. Sky News has learnt that KPMG and NatWest Group returned to being full members of the CBI this

The family which relinquished control of The Daily Telegraph last year is to hire a trio of banks to oversee a review of ownership options for Very Group, their online shopping empire. Sky News has learnt that the board of Very Group – now chaired by Nadhim Zahawi, the former chancellor – is lining up

A rescue deal for the British operations of TGI Fridays which will salvage more than 2,000 jobs is on the verge of being finalised this weekend. Sky News has learnt that Breal Capital and Calveton, which jointly own the upmarket restaurants business D&D London, could agree a deal to acquire the majority of TGI Fridays