Author: SKYNEWS

The owner of Space NK has picked bankers to handle a sale of the high street beauty chain that is expected to fetch more than £300m.Sky News understands that Manzanita Capital, a private investment firm, has engaged Raymond James to oversee an auction later this year. Manzanita, which has owned Space NK for more than 20 years, is understood to have not yet made a firm decision on the timing of a sale of one of the UK’s best-known beauty retailers.One said that based on Space NK’s financial performance, it could be worth between £300m and £400m.Money latest: State pensions…

Francis Ngannou’s 15-month-old son Kobe has died, the mixed martial artist and boxer has confirmed in a social media post.The 37-year-old fighter posted a photo of his son on X on Monday evening, with the date of Kobe’s death marked as Saturday 27 April.”Too soon to leave but yet he’s gone,” Ngannou wrote in the post.”My little boy, my mate, my partner Kobe was full of life and joy. Now, he’s laying without life. I shouted his name over and over but he’s not responding.”I was my best self next to him and now I have no clue of who…

UK manufacturing exporters who see leaps in sales to countries friendly with Russia should “raise a red flag”, a sanctions expert has told MPs.Tom Keatinge, director of the Centre for Finance and Security at the Royal United Services Institute, said in evidence to an inquiry on the effectiveness of sanctions against Russia that UK companies seeing such spikes should not be going “to the pub” to celebrate. He was speaking generally amid work by Sky News that identified a surge in sales of UK-made cars to Russia’s neighbours, most notably Azerbaijan, with luxury vehicles seen in Moscow showrooms this year.Money…

Gerard Depardieu will face a criminal trial later this year over the alleged sexual assaults of two women on a movie set in 2021, French prosecutors say.French media had reported that the 75-year-old actor – who has denied any wrongdoing – had been questioned by police in Paris on Monday. Depardieu’s lawyer Christian Saint-Palais later declined to comment to reporters other than to say that the actor was no longer in custody.The Paris public prosecutor’s office said in a statement that the actor has been “summoned to appear before the criminal court” after the questioning.It said the trial will start…

A former boss of Camelot, the National Lottery operator, will be named this week as the next chairman of the Post Office as ministers seek to draw a line under the ugly row surrounding the exit of his predecessor.Sky News has learnt that the Department for Business and Trade (DBT) has offered the chairmanship of the government-owned company to Nigel Railton, who stepped down as Camelot boss last year. Sources said his appointment had been signed off by Kemi Badenoch, the business secretary, and would be announced on Wednesday morning.Mr Railton, who previously worked for Daewoo, the automotive group, and…

The former boss of the world’s largest cryptocurrency exchange has been jailed for four months for allowing money laundering.The sentence was handed down to billionaire Binance founder Changpeng Zhao, nicknamed CZ, after he pleaded guilty to breaching US anti-money laundering laws designed to prevent terrorist financing and funds going to sanctioned countries. SentencingThe prison term was far less than sought by US prosecutors who wanted a three-year term – twice the maximum 18 months recommended under federal sentencing guidelines – to be tough on the man once thought to be the most powerful person in the crypto world.Money latest: JD…

Line Of Duty actor Brian McCardie has died “suddenly at home” at the age of 59, his family has confirmed.Best known for playing mafia boss John Thomas ‘Tommy’ Hunter in the TV crime drama, the Scottish star had also recently joined the cast of Outlander prequel, Blood Of My Blood. His sister confirmed his death on X, writing: “It is with great sadness that we announce the passing of Brian James McCardie, beloved son, brother, uncle and dear friend to so many.”Brian passed away suddenly at home on Sunday 28th April. A wonderful and passionate actor on stage and screen,…

As commercial property values fall by less than expected during the last year, Ian King is joined by Grosvenor’s chief executive Mark Preston.Plus, Premier Inn owner Whitbread looks to expand its hotel business, and the HSBC boss resigns after nearly five years in the role.:: Listen and subscribe to The Ian King Business Podcast here. Source link

Two companies are being sued by the British government for over £145m after they allegedly supplied defective COVID-19 tests. The government has told the High Court that the tests “failed at an unacceptable rate” but the companies deny the accusations and claim the tests were effective. The Department of Health and Social Care (DHSC) is reportedly seeking a refund for thousands of COVID tests that were produced by the companies Primer Design Ltd and Novacyt.The two companies face accusations that they breached a contract signed in 2020 due to “unduly high” levels of test failures.The companies have launched a counter…

A leading wildlife broadcaster has said he will not be drinking “any more” Heineken after the company felled thousands of trees in one of its orchards.Chris Packham said the decision to cut the trees on land in Monmouthshire near the border between England and Wales was a “tragic waste of a fabulous resource”. The BBC reported thousands of apple trees had been cut on 300 acres of land at Penrhos Farm.The company, which owns Bulmer’s, says it plans to sell the land due to a lack of demand for cider and a surplus of apples.But Chris Packham, best known for…