Grangemouth: £100m support package pledged after oil refinery closure September 13, 2024 The Scottish and UK governments pledged a £100m support package for Grangemouth yesterday after bosses at Petroineos announced Scotland’s only oil refinery is to close with the loss of 400 jobs. The company confirmed to staff at the site on Thursday that the refinery will close in the second quarter of 2025 – with it [...]
Lack of financial advice holding back 24.6m people across the UK September 12, 2024 A new report from St. James’s Place has suggested as many as 24.6m people in the UK are missing major life goals due to a lack of financial advice. The figures, from one of the UK’s largest wealth managers and advice providers, were published as the first part of a survey of just under 12,000 [...]
Water investment bosses meet ministers amid hunt for fresh funding September 10, 2024 Ministers have held talks with bosses of water industry investment firms in a bid to attract fresh capital to the scandal-hit sector. Environment secretary Steve Reed held a roundtable with roughly 30 people representing investors in the sector such as pension funds on Tuesday in the City of London. Reed said he wants the water [...]
‘Game over’ for TGI Fridays’ UK owner Hostmore as shares crater almost 90 per cent September 9, 2024 TGI Fridays’ UK owner Hostmore is set to be wound down in a move that could wipe out its shareholders, after revealing it had dropped plans to buy the US restaurant chain for £177m. Shares in the London-listed company tanked by almost 90 per cent following the announcement on Monday. Hostmore, a hospitality firm which [...]
The secret language of City dealmaking September 9, 2024 Dealmaking on the public markets can be a dense and confusing world. Firms court each other in the public domain; cryptic, flirtatious barbs are fired across the market, and bosses on either side try to size each other up. But what do their messages really mean? What is the hidden meaning behind the jargon? From Pac-Man [...]
Remaining 116 Body Shop stores rescued by acquisition deal September 7, 2024 The Body Shop has been rescued from administration by a consortium led by British tycoon Mike Jatania, with remaining stores to continue trading. Jatania’s investment firm Aurea announced the completion of the acquisition on Saturday, with Jatania and Charles Denton, former chief executive of beauty brand Molton Brown, to head the new leadership team. In [...]
UK and US spy chiefs ‘working ceaselessly’ for Gaza ceasefire September 7, 2024 British and American spy chiefs have said they are together “working ceaselessly” for a ceasefire and hostage deal in Gaza, in a rare public statement. MI6 chief Sir Richard Moore and CIA director Bill Burns said the agencies have “exploited our intelligence channels to push hard for restraint and de-escalation” in the Middle East. In [...]
Ukraine destroys scores of Russian drones as long-range attacks continue September 7, 2024 Scores of drones were shot down over Ukraine on Saturday as the country continues to face increased long-range bombardment from invading Russian forces. The Ukrainian Air Force said 67 drones were launched over the country overnight, with air defences active in 11 regions, including in the capital, Kyiv. Fifty-eight drones were shot down, with three [...]
Keir Starmer visits Ireland in bid to reset UK’s relationship with Dublin September 7, 2024 Sir Keir Starmer is to visit Ireland as he seeks to reset the UK’s relationship with its nearest neighbour. The Prime Minister will travel to Dublin on Saturday to meet with the Taoiseach, Simon Harris, in his first official visit to Ireland. Commerce across the Irish Sea, a trade relationship worth 100 billion euros a [...]
Majority of business managers back improved workers’ rights, survey shows September 7, 2024 Most employers support government plans to strengthen workers’ rights, new research has suggested. A survey of 1,000 managers indicated more than two in three believed the rights of workers should be improved. The Institute for Public Policy Research (IPPR) think tank, the Trades Union Congress (TUC) and Persuasion UK said their study suggested that among [...]
