Author: SKYNEWS

Bahrain’s sovereign wealth fund has completed a deal to take full ownership of McLaren Group, one of the most revered names in British manufacturing, after years of negotiations to put the company on a stable long-term footing.Sky News understands that McLaren will announce later on Friday that the recapitalisation of the supercar manufacturer and Formula One team shareholder has been concluded. The deal will pave the way for McLaren to pursue a technology partnership with a global automotive giant that could also involve Mumtalakat offloading a minority stake in the Woking-based company.In a statement issued to Sky News, Paul Walsh,…

Retail sales flatlined in February as “extremely” wet weather put off shoppers from heading to the high street.There was 0% growth in the sector last month, according to new figures from the Office for National Statistics (ONS) on Friday. It said a good performance for clothes shops and department stores was offset by falls in food and fuel sales, possibly because of rising prices at the pumps.Money latest – Where property prices are going up and where they’re fallingHowever, it appears the weather also had a major impact as consumers also shunned in-person stores in favour of online shopping. February…

One of the world’s biggest private equity firms is among a pack of suitors circling RSK, a British-based environmental consultancy, in a deal that would value it at well over £1bn.Sky News has learnt that Carlyle is one of several parties in discussions with Alan Ryder, RSK’s founder and chief executive, about a possible transaction. City sources said on Thursday that a deal could involve the outright purchase of a large minority stake in RSK, which employs more than 15,000 people and operates in 40 countries.RSK, which has struck sponsorship deals to raise brand awareness with partners including the League…

The final series of royal drama The Crown leads this year’s BAFTA TV Awards nominations, picking up eight nods including four in the acting categories – but misses out on the best drama shortlist.Happy Valley, The Gold, Slow Horses and Top Boy are the four shows up for the prize, which will be one of the biggest of the night. Black Mirror’s Demon 79 episode follows closely behind The Crown with seven BAFTA TV nominations, while The Sixth Commandment, The Last Of Us, The Long Shadow and Succession also feature several times on the shortlist. Image: Black Mirror Demon 79.…

Saga has set a deadline next month for proposals to release capital from its ocean cruises operation.Sky News understands that the London-listed insurance and travel group is working with Lazard, the investment bank, on potential partnership arrangements for the cruise business. Prospective buyers have been asked to submit indicative offers in April, according to insiders.The structure of a deal has still to be determined but Saga and its advisers are exploring a number of options for the division, which operates the Spirit of Adventure and Spirit of Discovery.Saga has been labouring under the weight of a large debt pile for…

Actress Marisa Abela consulted a dietician to help her safely portray Amy Winehouse in the upcoming biopic about the singer’s life.The 27-year-old actress from Brighton said feeling “frailer and smaller” helped when depicting the Valerie singer in the upcoming film Back To Black – named after the artist’s famous album and song. “I had help to do it safely; I consulted a dietician and was being monitored,” Abela said in an interview with Harper’s Bazaar UK.”Feeling frailer and smaller helped – I hadn’t understood, before, how much that affects your tempo.” Image: Abela in the Back to Black trailer. Pic:…

A new £24m border control post may have to be demolished because repeated changes to post-Brexit border arrangements have left it commercially unviable.The facility at Portsmouth International Port is due to begin physical checks on food and plant imports from the EU at the end of next month, but changes to border protocols since it was built mean half of the building will never be used. Built with a £17m central government grant and £7m from Portsmouth City Council, which owns the port, it is designed to carry out checks on up to 80 truck loads of produce a day.…

Within weeks of Yadi Zhang’s arrival in London in September 2017, Jian Wen had left her job and room in a Chinese takeaway and moved into a £5m six-bedroom house near Hampstead Heath. The women, who claimed to run an international jewellery business trading in diamonds and antiques in countries including Japan, Thailand and China, travelled the world and spent tens of thousands of pounds on designer clothes and shoes in Harrods. In her newly affluent lifestyle, Wen bought a £25,000 E-Class Mercedes and sent her son to the £6,000-a-term Heathside preparatory school.But alarm bells rang when she tried to…

Greg Rutherford has spoken about the “horribly painful” injury that caused him to miss the Dancing On Ice final almost two weeks ago. The 37-year-old Olympian announced he had “effectively [given himself] a C-section” when he tore his abdominal muscles after sliding through the legs of professional skaters Brendyn Hatfield and Colin Grafton. He withdrew on the morning of the final of the ITV show after being injured in rehearsals on 10 March. Image: Mr Rutherford and his ice skating partner Vanessa James had to pull out of the final. Pic: Kieron McCarron/ITV/Shutterstock Mr Rutherford shared the news on Instagram…

Ian is joined by Rebecca Klar, technology and policy reporter at The Hill, to talk about the US government suing Apple for allegedly maintaining an illegal monopoly on smartphones.Also, hear the latest as the Bank of England votes to keep interest rates unchanged for another month at 5.25%.Meanwhile, thousands of women may be entitled to compensation after the pension age was increased. Ian finds out more with economist France Coppola.Listen and subscribe to The Ian King Business Podcast here. Source link