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Britain’s second-richest family is exploring plans to join a wave of “blank cheque” mergers in a move that could see another major UK electric vehicle manufacturer going public in the US. Sky News has learnt that Ashok Leyland, the Indian-listed group controlled by the Hindujas, is working with bankers on a potential merger of Switch
Chancellor Rishi Sunak has warned that Britain’s public finances will face “enormous strains” in the wake of the latest national lockdown. Ahead of Wednesday’s Budget announcement, Mr Sunak told the Financial Times a bill for the government’s £280bn investment in coronavirus support will eventually have to be paid, with low interest rates leaving the nation’s
NatWest Group is braced for the government to further delay its target date for returning the lender to full ownership, raising the prospect that it could face almost 20 years as a partially nationalised company. Sky News understands that the Treasury is likely to confirm alongside Rishi Sunak‘s Budget next week that its ambition of
The parent firm of British Airways has called for the introduction of digital health passes to help reopen the skies while revealing a €7.4bn (£6.5bn) annual loss as a result of coronavirus pandemic disruption. International Airlines Group (IAG) demanded a global approach, with common testing standards, as the travel industry reels from a disastrous 12
Asda has warned that 3,000 workers in its stores are at risk of losing their jobs as the chain plans to ramp up investment in online sales. The UK’s third-largest supermarket chain said the shake-up was driven by the shift in demand towards grocery deliveries which charged forward for the sector as a whole at
The owner of Primark says it expects to lose £1.1bn in sales during the first half of its financial year through the coronavirus crisis-enforced closure of its stores. Associated British Foods, which has steadfastly refused to trade the discount fashion chain online, told investors that group sales and adjusted operating profits would be lower than
Bank of England governor Andrew Bailey has warned Brussels against creating a “serious escalation” by forcing firms to relocate euro clearing business away from the UK. Mr Bailey told MPs Britain should “resist very firmly” any attempt by the EU to try to dismantle by “dubious” means the dominance of London in clearing euro-denominated derivatives
The number of women on the boards of top UK-listed companies has risen by 50% in five years but “significant progress” still needs to be made in leadership roles, a review has found. Progress made since 2015 also means there are now no all-male boards in the FTSE 350, though there are 16 so-called “one
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