Business

Mulberry, the struggling UK luxury brand, has rejected a proposed takeover bid by Mike Ashley’s Frasers Group. Frasers, which is majority owned by the tycoon and best-known for its Sports Direct brand, made an offer on Monday that valued Mulberry at £83m. The company is the second largest shareholder in Mulberry, with a 37% holding.
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A lawyer representing people affected by a “second Post Office IT scandal” has said they “must not” have “a long, hard battle ahead for exoneration and compensation”. A report today found it is “a reasonable likelihood” that Capture software “created shortfalls” for sub-postmasters prior to the Horizon scandal. The system, which was the predecessor to
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The private equity giant which owns a stake in rugby’s Six Nations Championship is weighing a bid for a stake in one of Britain’s biggest online travel agents. Sky News has learnt that CVC Capital Partners is among the suitors considering making an offer to become a partial owner of Loveholidays. The travel company, which
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One of the UK’s largest water companies is considering shipping supplies from Norway to the UK. Southern Water said the idea was a “last-resort contingency measure” in case of extreme droughts in the early 2030s. Up to 45 million litres per day could be brought to the UK in tankers under the proposals. The Financial
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The fallout from parasite-contaminated water in part of Devon cost South West Water £16m, the utility has revealed. It had to implement a boil water notice when people in the Brixham area became sick after diarrhoea-causing cryptosporidium was found in a reservoir in May. The notice remained in place for eight weeks with roughly 17,000
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Post Office campaigner Sir Alan Bates has threatened legal action if financial redress for victims doesn’t come soon. Sir Alan, speaking after accepting a knighthood for services to justice, told Sky News: “If we need to fundraise for a court case, we will.” In a letter sent to hundreds of former sub postmasters last week,
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A Fujitsu boss has told the Horizon IT inquiry he raised “serious concerns” about the “behaviour” of the Post Office investigations team earlier this year. More than 900 sub-postmasters were wrongly prosecuted and received criminal convictions between 1999 and 2015, as Fujitsu’s faulty Horizon IT system made it appear as though money was missing at
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Most sub-postmasters are still reporting issues with the Horizon IT system that led to hundreds being wrongly convicted, a survey suggests. The inquiry into the Post Office’s Horizon accounting software, and the associated prosecution of 700 sub-postmasters for theft and false accounting, is taking place to establish a clear account of the implementation and failure
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Trinny Woodall, the prominent entrepreneur, has secured a £15m financing boost as part of plans to expand her beauty empire. Sky News has learnt that Trinny London, which was founded in 2017, has struck a deal with Aurelius Finance Company, a private debt provider, to provide working capital to it. Industry sources said the agreement
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The boss of BlackRock, the world’s largest asset manager, will attend the new government’s flagship investment summit next month amid suggestions that it is struggling to attract large numbers of high-calibre international business figures. Sky News has learnt that Larry Fink, BlackRock’s chairman and chief executive, will attend the October 14 gathering, which will be
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