Business

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

The Premier League’s long-awaited hearing into Manchester City’s alleged breaches of financial rules will begin later. City, the reigning Premier League champions, face 115 charges under Premier League rules, which they allegedly breached by failing to provide accurate financial information over a nine-year period starting in 2009 until 2018. During that period the club won

Legal & General, the FTSE-100 insurance and asset management giant, will this week pick a new home for Cala Group, its housebuilding subsidiary. Sky News has learnt that Sixth Street, the US-based investor, has emerged as the frontrunner to buy Cala, which ranks among Britain’s ten biggest housebuilders. Sixth Street has teamed up with Patron

The number of second homes being put up for sale in one part of Wales has increased by more than 250% – as homeowners and businesses criticise the Welsh government’s council tax premium. Many councils in Wales now charge an inflated tax rate for second homes, up to 300%, with the aim of freeing up

Babcock International, the London-listed defence contractor, is weighing a possible bid for some of the assets of Harland and Wolff, the shipbuilder which is close to collapse. Sky News has learnt that Babcock, which has a market value of £2.4bn, has expressed an interest in Harland and Wolff’s Belfast shipyard which is famous for having

A London-listed automotive components supplier has become the latest British-based company to draw overseas takeover interest after receiving a series of offers from a Canadian rival. Sky News has learnt that TI Fluid Systems has received at least two bid proposals from ABC Technologies Holdings, a Canadian competitor. City sources said on Friday evening that