Sky News has learned that Apollo has outbid competitors, including JD.com and DHL, to acquire parcel delivery giant Evri. According to banking sources, the deal could be announced as early as Thursday afternoon. Apollo’s agreement to purchase Evri, which delivers over 700 million parcels annually, addresses the more complex antitrust implications that a sale to […] More
The government plans to use British seabed owned by the Crown Estate to develop wind farms, aiming to power 20 million homes. This marks the first major initiative by Great British Energy, the new government company dedicated to increasing renewable energy, which will receive £8.3bn in state funding over the next five years. Energy Secretary […] More
UK stocks hit a three-month low after a major sell-off in US tech shares triggered a global market plunge. The FTSE 100 fell by 0.8%, while the FTSE 250 dropped 1.1% as trading opened, following a sell-off sparked by declining profits at Tesla, the world’s largest electric car maker. US stock markets experienced their worst […] More
Sky News has learned that the cinema operator will announce a restructuring plan on Friday, leading to the closure of approximately 25 sites across the UK. According to city sources, around half a dozen Cineworld cinemas will begin the closure process immediately and will shut their doors for the last time later this summer. The […] More
Revolut has announced that it has secured a UK banking licence, concluding a regulatory process that spanned over three years and providing a significant boost to the fintech’s expansion plans in its home market. The London-based company revealed on Thursday that it received the licence from the Prudential Regulation Authority (PRA), which had initially received […] More
The partnership aims to lease up to 30 gigawatts of new offshore wind projects by 2030, potentially providing power for nearly 20 million homes. According to the government, this initiative could attract up to £60 billion in private investment into the nation’s energy infrastructure. Officials are optimistic that this will contribute to lowering domestic energy […] More
Global financial markets in both the US and Asia have seen significant declines as investors pull back from technology stocks, with AI-related shares experiencing substantial losses. In Wednesday’s trading in New York, the S&P 500 fell by 2.3%, and the tech-centric Nasdaq dropped by 3.6%, marking their largest one-day declines since 2022. The Dow Jones […] More
Consumer group Reckitt has initiated a strategic review of its infant formula business, Mead Johnson, and plans to sell a large portfolio of its home care brands, including Air Wick and Cillit Bang, to streamline its operations. Mead Johnson, acquired by Reckitt in 2017 for $17 billion, has faced several challenges, including recent litigation in […] More
Just days after Ryanair issued a warning about demand and the need for increased discounting, easyJet reported that its prices remained flat on average compared to last year, with no signs of weakening bookings heading into the summer peak. Following this news, easyJet’s shares rose by 8%, and other aviation companies also saw gains after […] More
Inventors are working to develop a reliable clean water supply on the moon, potentially involving a microwave oven from Tesco. The goal of establishing a crewed lunar base has been ongoing for years but remains unfulfilled. Relying on water supplies from Earth is risky and expensive, making it crucial to find ways to extract and […] More