Business

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

A backer of leading British fintechs including Tide and Zopa will this week name one of the founders of Lovefilm as its new chairman. Sky News understands that Augmentum Fintech, which is listed in London, has lined up William Reeve, one of Britain’s most experienced start-up entrepreneurs, to take the role. A source said his

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

One of the world’s most successful private equity chiefs is being lined up to help fund a takeover of The Observer, the world’s oldest Sunday newspaper. Sky News has learnt that Patrick Healy, the chief executive of Hellman & Friedman (H&F), a US-based buyout firm, is among the Tortoise Media shareholders who are in talks

A British hypersonic aviation pioneer has opened talks with the government about a rescue deal that will see a Gulf-based state fund emerging as its single-biggest shareholder. Sky News has learnt that Reaction Engines has held discussions this week with Whitehall officials about the implications of a capital injection to be led by the Strategic

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

Jonathan Reynolds, the business secretary, has axed government advisers including the founder of Anya Hindmarch, the boss of Universal Music Group and a former Lord Mayor of the City of London, it has emerged just days before Labour’s flagship investment summit. Sky News understands that Mr Reynolds wrote to members of the Board of Trade

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

US officials have confirmed they are considering breaking up Google’s “illegal monopoly” of internet searches. The tech giant could face restrictions on its own products – including its Chrome browser, Play Store and Android operating system, the US Justice Department said. It comes after a judge found in August the company had broken anti-trust laws

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

Water firms in England and Wales have been ordered to return £157.6m to customers due to their poor performance. Ofwat said the rebate would come off bills for households and businesses in 2025-26. Last year, the water regulator ordered firms to repay £114m as part of a similar move. It comes as water bills in

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

A US Air Force Reserve brigadier-general will this week unveil a $5m funding boost for her British-based quantum computing start-up. Sky News understands that Mandy Birch, who is also an adviser to the UK’s National Quantum Computing Centre, has secured the capital for TreQ, a manufacturing company focused on building and operating open-architecture quantum computers.

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

Before we get onto the budget and what Rachel Reeves might do to fiddle her fiscal rules and give herself a little more room to spend, I want you to ponder, for a moment, a recent report from the Office for Budget Responsibility (OBR). This wasn’t one of those big OBR reports that get lots