LONDON The U.K.’s Labour Party on Tuesday won the backing of 120 business leaders, in a timely boost as it bids to oust the ruling Conservatives in the upcoming general election. The coalition of CEOs and other senior figures, which includes some well-known names from British business, said in a joint letter that it was “time...
Category: Bussiness
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Agriculture lender Oxbury strikes £100m deal with UK state bank
A specialist lender to the agricultural sector has secured a fresh £100m loan guarantee from the UK’s economic development bank. Sky News understands that Oxbury Bank, which focuses on lending to farmers, food producers and the rural economy, has signed a new deal with the British Business Bank that will be announced within days. City...
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Over 100 business leaders back UK’s opposition Labour Party before polls
3 min read Last Updated : May 28 2024 | 10:58 PM IST More than 100 business leaders have given their support to Britain’s opposition Labour Party before a July 4 election, saying the country needs to end the instability and stagnation that has dogged the economy. Rishi Sunak’s governing Conservatives have...
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More than 120 business leaders back Labour ‘to achieve UK’s full economic potential’
More than 120 business leaders have written an open letter giving their backing to Labour in the general election. Senior figures, including chef Tom Kerridge and former CEOs of Heathrow, JP Morgan and Aston Martin, said the party had “shown it has changed and wants to work with business to achieve the UK’s full economic...
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General election: 121 business chiefs sign letter backing Labour
Dozens of business leaders have signed a letter endorsing the Labour Party’s economic plans ahead of the 4 July general election saying it is “time for a change”. In a letter published in Tuesday’s Times newspaper, 121 founders, chief executives, and former leaders at a range of financial services, retail and manufacturing firms say Labour...
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Very little achieved on rail reforms in Great Britain in past six years, say MPs
The government has “achieved very little” in reforms to Great Britain’s railways six years after identifying the need for big changes to improve the situation for passengers and taxpayers, according to an influential parliamentary committee. MPs on the cross-party public accounts committee said the Department for Transport has not paid enough attention to the needs...
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British microchip plant faces closure after Apple pulls the plug
The Coherent facility in Newton Aycliffe was originally built by Fujitsu and described as the world’s most advanced microelectronics plant when it was opened by Queen Elizabeth in 1991. But the Japanese company announced plans to close the plant in 1998 amid an electronics industry slump. It has since cycled through a succession of owners...
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FTSE-100 housebuilder Persimmon weighs £1bn bid for rival Cala
One of Britain’s biggest housebuilders is exploring a £1bn takeover bid for Cala Group, a rival player in the sector which has been put up for sale. Sky News has learned that Persimmon, which has a market value of £4.74bn, is leaning towards submitting an offer for Cala ahead of a bid deadline next week....
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Rain hits retail sales in Great Britain as shoppers reduce spending
A month of unrelenting rain in many parts of the country resulted in British shoppers spending much less than expected in April, with fewer treating themselves to clothes and big-ticket items. The Office for National Statistics blamed the wet weather for the 2.3% drop in the amount of goods bought compared with March, which was...
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Labour pitches into Tory territory with business support letter
Labour is trying to persuade prominent business leaders to sign a public letter endorsing the party in a move underlining its encroachment onto general election territory traditionally occupied by the Conservatives. Sky News has seen a draft letter being circulated by Labour officials in the last 24 hours which urges them to back it ahead...
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Moto owners plot sale of motorway services giant
The owners of Moto, one of Britain’s biggest operators of motorway service stations, are preparing to put the company up for sale for more than £2bn. Sky News understands that CVC Capital Partners and the Universities Superannuation Scheme (USS), which have jointly owned Moto since 2015, have hired Rothschild to oversee an auction of the...
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Election must focus on getting UK economy firing, say business leaders
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