Business

The fallout from parasite-contaminated water in part of Devon cost South West Water £16m, the utility has revealed. It had to implement a boil water notice when people in the Brixham area became sick after diarrhoea-causing cryptosporidium was found in a reservoir in May. The notice remained in place for eight weeks with roughly 17,000

Post Office campaigner Sir Alan Bates has threatened legal action if financial redress for victims doesn’t come soon. Sir Alan, speaking after accepting a knighthood for services to justice, told Sky News: “If we need to fundraise for a court case, we will.” In a letter sent to hundreds of former sub postmasters last week,

The UK remains at risk from “lingering” inflation but its economy is among nations showing “robust” growth, according to a biannual report which upgrades its expectations for output both this year and next. The Organisation for Economic Co-operation and Development (OECD) saw UK gross domestic product (GDP) rising by 1.1% this year – faster than

A Fujitsu boss has told the Horizon IT inquiry he raised “serious concerns” about the “behaviour” of the Post Office investigations team earlier this year. More than 900 sub-postmasters were wrongly prosecuted and received criminal convictions between 1999 and 2015, as Fujitsu’s faulty Horizon IT system made it appear as though money was missing at

The Caucasus Mountain range in Georgia is one of the great sights in the south of Europe. Towering peaks, higher than any in the Alps, rise up from green meadows and grassy hills covered in wildflowers. Winding roads thread through deep valleys, overlooked by ornate Orthodox churches and monasteries. But when I visited recently, I

The owners of some of London’s most prominent restaurants are in talks to buy the UK operations of TGI Fridays, the casual dining chain whose parent company collapsed into administration last week. Sky News has learnt that Breal Capital and Calveton, which acquired D&D London – owner of the German Gymnasium and Quaglino’s restaurants –

Most sub-postmasters are still reporting issues with the Horizon IT system that led to hundreds being wrongly convicted, a survey suggests. The inquiry into the Post Office’s Horizon accounting software, and the associated prosecution of 700 sub-postmasters for theft and false accounting, is taking place to establish a clear account of the implementation and failure

Trinny Woodall, the prominent entrepreneur, has secured a £15m financing boost as part of plans to expand her beauty empire. Sky News has learnt that Trinny London, which was founded in 2017, has struck a deal with Aurelius Finance Company, a private debt provider, to provide working capital to it. Industry sources said the agreement

The boss of BlackRock, the world’s largest asset manager, will attend the new government’s flagship investment summit next month amid suggestions that it is struggling to attract large numbers of high-calibre international business figures. Sky News has learnt that Larry Fink, BlackRock’s chairman and chief executive, will attend the October 14 gathering, which will be

A British hypersonic aviation pioneer is this weekend closing in on a £20m rescue deal that will see a Gulf-based sovereign fund becoming its biggest shareholder. Sky News has learnt that Reaction Engines is racing to finalise a two-part financing that will include leading shareholders extending loans to the company before providing a further equity

“It all begins with an NDA.” A former personal assistant of Harvey Weinstein sums it up quite nicely. What is going wrong in the workplace when it comes to widespread sexism, harassment, and bullying, particularly for women? The most serious consequence of which is sexual and physical violence as outlined, yet again, by the alleged

A trio of property giants has lodged a protest against a radical financial restructuring that will see Cineworld imposing steep rent cuts on its landlords. Sky News has learnt that British Land, Landsec and Legal & General Investment Management all voted against the cinema operator’s restructuring plan this week. Cineworld has confirmed plans to close

The UK’s public sector debt has hit 100% of the value of the country’s annual economic output for the first time since the 1960s, according to official figures released ahead of the chancellor’s maiden budget. The Office for National Statistics (ONS) said, in a preliminary estimate, that the figure had risen from the 99.3% figure

Post Office campaigner Sir Alan Bates has blamed government “flimflam artists” for dragging out financial redress for victims. In a newsletter, seen by Sky News, he criticises the GLO (Group Litigation Order) scheme for being a “gravy train” for government lawyers, He adds it is “seemingly to ensure maximum income for the lawyers and minimal

The owner of the UK arm of the restaurant chain TGI Fridays (TGIF) has gone into administration, putting 4,500 jobs and 87 outlets at risk. Hostmore, which runs the UK franchise for TGIF, has appointed administrators and delisted its ordinary shares after struggling to find a “lasting solution” to save the business amid heavy losses

US interest rates have been slashed for the first time in more than four years – and by more than many expected – amid fears the world’s largest economy is flagging. Not since the early days of the COVID-19 pandemic has there been a drop in the cost of US borrowing as the US central

Post Office chief executive Nick Read is to step down, the company has announced. Mr Read had temporarily stepped back from the role in July to prepare for the next stage of the Horizon scandal inquiry. Neil Brocklehurst, the current interim chief operating officer, has been asked to replace Mr Read as acting CEO. “It

A medical technology company which produces tissue-healing surgical products has become the latest London-listed business to draw interest from buyout firms. Sky News has learnt that Inflexion, the private equity group, has been studying a takeover of Advanced Medical Solutions Group (AMS Group), which has a market capitalisation of over £500m. On Tuesday evening, it

One of the UK’s largest energy companies OVO is to pay £2.37m in compensation for customer complaint failures. Energy regulator Ofgem said OVO will pay £378,512 directly to affected customers, with an additional £2m to the Energy Industry Voluntary Redress Scheme “in recognition of the severity of consumer detriment caused”. As many as 1,395 people

The iconic Belfast company that built the Titanic is to collapse into administration. Harland & Wolff has announced it is insolvent and will appoint administrators. An administration order will likely be made this week, it added. Jobs are likely to be lost, the company said, but it did not detail how many. “Workers, their families