Articles

Investors threaten to hang up on Dixons chief

Leading shareholders in Dixons Carphone want directors to accelerate a search for its next boss after last week’s shock profit warning wiped nearly a quarter off the company’s stock market value. Sky News has learnt that a number of top 10 investors in the retailer will press Lord Livingston …

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China-backed fund nears Imagination bid

A Chinese-backed fund is to test Theresa May’s pledge to subject foreign takeovers‎ of British companies to closer scrutiny by lodging a formal bid for the struggling chipmaker Imagination Technologies. Sky News has learnt that Canyon Bridge Capital Partners has hired advisers from the Wall Street bank Citi to …

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Yellen: Don't water down post-crisis rules

The world’s most powerful central banker has warned against watering down regulations put in place following the financial crisis. Janet Yellen, chair of the US Federal Reserve, said rule changes had made the system “undoubtedly safer”. She insisted there was no evidence that regulatory changes had either acted as …

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French wine production to fall 18% this year

France’s wine production is set to plummet by 18% this year after a spring frost damaged vines across the country, the French government said. The forecast from the agriculture ministry echoes warnings from winemakers after bitterly cold weather struck twice in a week in April. Wine expert Gilbert Winfield …

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Matchesfashion close to £800m takeover deal

A frenetic bidding war for Matchesfashion.com, one of Britain’s fastest-growing online retailers, has sent its price-tag soaring to more than £800m as private equity groups try to grab a fresh slice of the luxury fashion market. Sky News has learnt that final takeover offers for Matchesfashion are due imminently …

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Provident shares bounce higher after shake-up

Shares in troubled doorstep lender Provident Financial have bounced back after it said it had replaced the boss of its beleaguered home credit business. Provident was the biggest riser on London’s FTSE 100, up 20% days after a second profit warning in quick succession saw the stock collapse. The …

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BHS liquidator confirms £30m Arcadia deal

The BHS liquidator has confirmed it has reached a deal with Sir Philip Green’s high street empire to release £30m to unsecured creditors to the collapsed retail chain. A spokesman for the liquidators at FRP Advisory confirmed that it had reached agreement with the tycoon’s Arcadia group “in relation …

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Billionaire Samsung heir jailed for five years

The billionaire heir to the Samsung empire has been sentenced to five years in prison after being convicted of offering bribes to South Korea’s former president. Lee Jae-yong was also found guilty by a panel of three judges of embezzlement, hiding assets overseas, concealing profits from criminal acts and …

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Business Doctors Welcomes New Business Services Manager

SME support franchise Business Doctors has strengthened its head office team with a new business services manager. Angela Connally will take on a broad role, with responsibilities including managing the office, updating and improving systems, looking after franchisee compliance and ISO accreditation and contributing to marketing and recruitment. She …

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Ex-Treasury mandarin to join bank lobby group

Lord Macpherson, the former permanent secretary to the Treasury‎, is being lined up to join the board of the banking industry’s most powerful lobbying group. Sky News has learnt that UK Finance (UKF) is seeking the approval of Whitehall’s Advisory Committee on Business Appointments (ACOBA) for the move. ‎It …

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Homeowners ‘improving rather than moving’

The number of planning applications submitted for home improvements has jumped by 26% across Britain, research from Halifax Insurance shows. The figures, which cover the years between 2012 and 2016 and are sourced from local authority data, indicates more people may be choosing to spruce up their existing property …

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