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Business
HSBC owes £143m to Barclay Family’s collapsed Logistics Company
New documents reveal that HSBC is facing steep losses due to the collapse of Barclay's vast business empire.
The British banking giant owes £143m to the Barclay Family's delivery company, which went into administration in March.…
As they try to avoid bankruptcy, councils are planning to recover a record £1.4bn through the…
As they rush to plug the debt black hole before the election, Britain's councils prepare a record £1.4bn fire sale of assets and cancelled investment.
The government has given 18 councils permission to mothball and sell assets to free up…
Renewi faces a €57m loss to exit UK waste business
One of Britain's greatest engineering names has left the country to focus on the Benelux recycling market.
Renewi is not a household brand, but it used to be known as Shanks, and before that, Shanks & McEwan. It was one of Scotland's…
Daniel Kretinsy: Royal Mail requires up to £400m in cash injection
The Czech billionaire who will be the new owner of Royal Mail revealed plans to restructure the company. This could threaten the employment of tens and thousands of postal workers, as well as thousands of red pillar boxes that are the…
Salesforce falls as concerns about AI rivals and weak forecasts spark concern
Salesforce shares fell by 18% Thursday after the company's lowest-ever forecast for quarterly revenue growth raised concerns that high interest rates, and competing AI offerings, were hampering demand.
If losses continue, the company's…
Royal Mail and Anglo American shareholders prepare for final takeover offer
Shareholders of Royal Mail and the mining company Anglo American await a deadline for firm offers on Wednesday. If they are not met, two of Britain's largest companies could be sold to foreigners.
Czech billionaire Daniel Kretinsky made…
Revolution asks its shareholders to support their own rescue plan
Revolution Bars Group has asked its shareholders to support an emergency £12.5million equity raising, after rejecting the putative offer of a rival nightclub owner as "unable to be delivered".
The group, which primarily trades under the…
Boeing has a long road to go before it can make safe planes, says US aviation chief
The Federal Aviation Administration is preparing to receive the plan of action from US planemaker Boeing to address issues related to safety.
Mike Whitaker, FAA administrator , gave Boeing 90-days to create a comprehensive plan for…
The bank manager who works at home says it’s not essential to work five days per week.
Santander UK’s chief executive is an outlier at a time when bank bosses have tightened up on the working from home.
Mike Regnier, who made home-working a condition for taking the job at JP Morgan in 2022, is a similar person to Jamie…
Unilever will continue to make ice cream for Russians as the country is left out of Unilever’s…
Unilever is keeping its Russian ice-cream business, despite plans to sell its frozen dessert brands.
Magnum and Ben & Jerry’s owner, Unilever, is considering a possible sale or IPO for its ice-cream brands. These brands generate…
Royal Mail owner supports a £3.5 billion takeover bid by Czech billionaire
The owner of Royal Mail backed an offer of £3.5bn from a Czech millionaire for the postal service after he sweetened his takeover plan, creating a headache for the Government.
Royal Mail's parent, International Distributions Services, ,…
JCB supplied equipment to Russia for months after saying that exports had stopped
British digger manufacturer JCB, owned and controlled by billionaire Bamford Family, continued to manufacture and supply equipment for Russia's market even after claiming it had stopped all exports due to Vladimir Putin's invasion Ukraine.…
China plans to buy millions unsold homes amid the property crisis
China may buy millions of unsold homes as part of an ambitious plan to address its current property crisis.
Beijing has reportedly been consulting with officials from local governments on proposals which would allow state-owned companies…
Apollo and Intel discuss financing an $11bn chip factory in Ireland
US semiconductor giant Intel entered exclusive discussions with Apollo Global for the financing of an $11bn chipmaking facility in Ireland. Large corporations are increasingly turning to private capital groups to fund expansion projects…
BT increases AI usage to combat hacking threats for business customers
BT said that it uses artificial intelligence more to detect and neutralise cyber threats targeting businesses.
The £10.5bn Group aims to grow its business by protecting customers against online criminals. It has patent technology that…
Anglo American rejects BHP’s revised £34bn Offer
The FTSE 100 mining company rejected a sweetened £34 billion bid from BHP to acquire its Anglo American rival as "highly inattractive".
BHP revealed that it submitted a revised proposal for Anglo on Tuesday. However, just like the…
Alibaba uses cloud services to become the leading AI investor of China
Alibaba is leveraging its cloud computing infrastructure in order to become the leading investor for China's artificial intelligence start ups. It offers them credits that they can use to access the limited network resources required to…
Grant Thornton to Earn £46mn For Greensill Administration
Grant Thornton expects to earn £46mn from the administration of Greensill Capital. This is one of the costliest insolvency processes undertaken in the UK.
According to a report filed with Companies House last month, the accounting firm…