North Sea oil services group Petrofac could ‘collapse by Monday’ October 25, 2025 Petroface, a North Sea oil and energy services group, could file for insolvency as early as Monday morning before markets open, it has been reported. The company’s board is reportedly holding emergency meetings over the weekend to discuss the possible collapse of the firm, putting around 2,000 jobs in Scotland under risk. It has also [...]
Sheffield Wednesday: What happens next as administrators called in? October 24, 2025 With Sheffield Wednesday filing for administration on Friday, what happens next for the Owls? The club – who are bottom of the Championship – have received a 12-point deduction from the EFL, with the governors of England’s second league saying this step “presents Sheffield Wednesday with the opportunity to move matters towards a successful sale [...]
Spike in employer pension contributions could throw UK businesses into insolvency October 21, 2025 Rumours over potential spikes to employer pension contributions in the upcoming Budget has thrown UK companies into a frenzy, with some admitting it could put them at risk of insolvency. According to research from consultancy Barnett Waddingham, nearly 20 per cent of businesses fear they could become insolvent if an increase to employer pension contributions [...]
Construction output weakens as gloom persists October 16, 2025 UK construction output has continued to shrink as companies struggle to build at the pace required by the government’s far-reaching housing goals. Output fell 0.3 per cent month on month in August, according to the Office for National Statistics (ONS), with the most pronounced decline in repair and maintenance. “The underlying trends in construction are [...]
Billionaire Issa brothers’ zero-emission truck start-up saved October 13, 2025 A Scottish zero-emission vehicles company backed by the billionaire Issa brothers has been saved in a pre-pack administration deal. Opus Restructuring was appointed to oversee the process at Glasgow-based Hydrogen Vehicle Systems (HVS) after the business faced a winding up petition earlier this month. It also faced a winding up petition in October 2024. The [...]
Cyber attack hits Heathrow and European airports September 20, 2025 A cyber attack has caused flight delays at Heathrow and several European airports, with problems lasting for hours on end. Airports in London, Berlin and Brussels have warned passengers that their flights may be delayed due to technical issues in check-in and boarding systems. The software provider, Collins Airspace, was suffering a technical issue for [...]
Former IoD boss banned as a director over Covid bounce back loan abuse September 18, 2025 A former boss of the Institute of Directors has been banned as a company director after being found to have breached Covid loan rules. Anna Daroy, who served as interim Chief Operating Officer and later as interim Director General of the Institute of Directors from October 2018 to November 2019, has been accused of obtaining [...]
A nine-point plan to get London building September 15, 2025 London’s housing delivery has collapsed due to regulatory delays, high costs, and stalled developments, but fast-tracking planning reform and supporting SME housebuilders could unlock thousands of homes, revive derelict sites, and make housing more affordable, says Paul Rickard London, once the UK’s housing and regeneration powerhouse, has seen the delivery of new homes plunge to [...]
HMRC loses over £800m to small business ‘phoenixing’ September 12, 2025 HM Revenue & Customs (HMRC) has lost more than £800m – more than previously estimated – through a tax loophole open to abuse by small businesses in the UK. The practice, known as ‘phoenixing‘, is where companies are repeatedly liquidate then set up as a new, identical, debt-free business. The tax authority lost £836m to this [...]
Merck warns UK is ‘not internationally competitive’ as it scraps £1bn London research centre September 10, 2025 Merck has pulled out of a planned £1bn London drug research centre in the latest blow to the government’s growth agenda. The US pharma giant is to lay off 127 staff alongside abandoning the construction project, which had been set to open in King’s Cross in 2027. The firm warned the UK would lag behind [...]