Business

Next has pulled out of the bidding for TopShop as the auction of Sir Philip Green’s former high street empire enters its closing stages. Sky News has learnt that a consortium comprising Next and Davidson Kempner Capital Management, a US investment firm, have withdrawn from a process being run by Arcadia Group’s administrator. The surprise
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Cineworld is facing a furious investor backlash next week over plans to hand its top executives more than £30m in share awards despite it receiving taxpayer funding to help it survive the pandemic. Sky News has learnt that three major advisory groups are recommending that the cinema operators’ shareholders vote against the adoption of a
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TransferWise, the British-based payments group, has picked two of Wall Street’s biggest players to spearhead a bumper flotation that could be among the most prestigious in a bulging pipeline of London stock market debutants. Sky News has learnt that TransferWise has appointed Goldman Sachs and Morgan Stanley as joint global co-ordinators for its long-awaited initial
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Kwasi Kwarteng, the new business secretary, is lining up a senior Mastercard executive to join his department’s board, ending a months-long vacuum of senior private sector expertise among its directors. Sky News has learnt that Mr Kwarteng, who took on the Cabinet post earlier this month, is close to announcing the appointment of Ann Cairns
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Inflation rose to 0.6% last month as clothing prices edged higher following extended Black Friday discounting the month before. The consumer price index (CPI) measure of inflation was up from 0.3% in November and a little higher than the expected figure of 0.5%. Clothes prices increased fractionally during December over a period when they usually
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