Petroineos: Sir Jim Ratcliffe-backed energy giant loses $250m Energy Petroineos, the energy trading company backed by Sir Jim Ratcliffe, lost $250m (£187.5m) in 2024 as it slumped into the red for the first time since 2020, it has been revealed. The Jersey-based business has reported the pre-tax loss after posting a profit of $30m in 2023. The results for the previous financial year were [...]
Sir Jim Ratcliffe: Act now or five million jobs will be lost Business Sir Jim Ratcliffe has called on Europe’s leaders to save the continent’s chemicals industry or risk losing millions of jobs. The founder and chairman of Ineos has urged politicians to make an “eleventh-hour intervention” at what he has described as a “moment of reckoning” for the industry. Sir Jim, who is also known as a [...]
Sir Jim Ratcliffe’s Ineos issues ‘urgent warning’ amid job cuts Business Sir Jim Ratcliffe’s Ineos is to cut 20 per cent of the workforce at its Acetyls plant at Hull, it has been confirmed. In total, 60 jobs are set to be lost in what the group said was a “direct result of sky-high energy costs and anti-competitive trade practices”. Confirming the news, Ineos blamed “dirt-cheap [...]
Profit slump revealed at Jim Ratcliffe-backed Petroineos ahead of major closure May 15, 2025 Profitp at Petroineos slumped in the months leading up the closure of its Grangemouth refinery, heavily delayed accounts have revealed, as the energy trading company wrestled with economic uncertainty, supply chain shocks and a shift away from fossil fuels. The Jersey-based business, which is backed by billionaire Manchester United owner Sir Jim Ratcliffe, posted a [...]
Brentford owner Benham weighs up minority investment in Bees March 19, 2025 Brentford have received multiple offers of minority investment from American groups who value the club at around £400m. Owner Matthew Benham has been seeking additional investment for over a year. Rothschild was appointed to oversee the sales process but City AM understands that the merchant bank is no longer working on the Brentford deal. The [...]
Manchester United Old Trafford plans set to be revealed March 10, 2025 Manchester United are today expected to announce plans for a new stadium to replace Old Trafford after co-owner Sir Jim Ratcliffe defended the club’s penny pinching. A “Wembley of the North” on the site of Old Trafford has been Ratcliffe’s goal since the billionaire purchased just under 30 per cent of Manchester United last year. [...]
Mark Kleinman: A reset BP might not have drilled deep enough for activists February 27, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. Today, he tackles activist investors drilling into BP, Ratcliffe’s cost-cutting and a big ticket auction A reset BP might not have drilled deep enough for activists Bernard’s Parable or Belated Pivot? These might be the most concise [...]
Ratcliffe calls on Europe to ditch carbon tax to save chemicals industry February 26, 2025 Sir Jim Ratcliffe has warned that Europe’s chemicals industry “faces extinction” and called on European Union leaders to ditch their carbon tax and increase tariffs to preserve it. In an open letter published on Wednesday, the founder and owner of chemicals giant Ineos launched an excoriating assessment of the EU’s approach to the chemicals sector, [...]
Former Manchester United CEO to help grow Teneo’s sport business January 9, 2025 Former Manchester United chief executive Richard Arnold has joined Teneo, the global consultancy has confirmed. Arnold, 57, has been named non-executive chairman of Teneo’s Financial Advisory Sports Practice and will work across the company’s sports, media and entertainment clients, who include World Rugby, Castore and the Ambani family’s Reliance Industries. “As we continue to build [...]
Mark Kleinman: Ratcliffe’s cost-cutting results in Manchester Disunited January 9, 2025 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week, he tackles Ratcliffe’s own goal, Shawbrook setting the tone and a FTSE 100 Doomsday clash over pay Ratcliffe’s cost-cutting results in Manchester Disunited Sir Jim Ratcliffe might not like to admit it, but 2024 [...]