Interserve lenders resigned to loan write-offs

  • 9 December 2018
  • From the section Business
Defence and National Rehabilitation Centre at Stanford Hall Image copyright Interserve
Image caption Interserve is building the Defence and National Rehabilitation Centre at Stanford Hall in the East Midlands

Sources close to Interserve's creditors have told the BBC they accept they may have to write off some of their loans to ensure the company's survival.

Lenders described talks around the company's future as "extremely fluid".

They recognised inevitable comparisons to the situation that engulfed Carillion, but insist the company's management still has lenders' support.

The BBC also understands Interserve is expected to announce imminently it has secured new public service contracts.

The Labour party leadership - ideologically opposed to the role of private companies in the provision of public services - has insisted that no new government contracts should be awarded to the company while it is in a parlous financial position.

Read full article Interserve lenders resigned to loan write-offs

Ted Baker reveals details of hugging probe

  • 5 December 2018
  • From the section Business
Ted Baker store Image copyright Reuters

Ted Baker's investigation into complaints about the conduct of its founder will be led by one of two recently appointed external directors.

Details of the probe, to be overseen by Sharon Baylay, will be announced on Thursday alongside a trading update, chairman David Bernstein told the BBC.

Read full article Ted Baker reveals details of hugging probe

What did we learn from the Bank of England?

  • 28 November 2018
  • From the section Business
People under umbrellas Image copyright Getty Images

A disorderly Brexit - with no deal and no transition period - would deliver a severe economic shock to the economy, triggering a worse recession than we saw after the financial crisis, with the economy shrinking by 8%.

House prices could fall by 30%, commercial property by 48%.

Read full article What did we learn from the Bank of England?

Brexit will make us poorer, government forecasts warn

  • 28 November 2018
  • From the section Business
Union Jack and City of London Image copyright Getty Images

It's official: Brexit will make us poorer than we would be staying in the European Union.

That is the conclusion of a cross-departmental government 15-year forecast.

Read full article Brexit will make us poorer, government forecasts warn

Is Carlos Ghosn's arrest a ‘hatchet job’?

  • 21 November 2018
  • From the section Business
Ghosn covers Image copyright Getty Images

The arrest, detention and expected dismissal of Carlos Ghosn as chairman of Nissan has been described as a "clinically planned hatchet job".

That's according to sources close to the detained car industry executive.

Read full article Is Carlos Ghosn's arrest a ‘hatchet job’?

The rise and fall of a business colossus

  • 20 November 2018
  • From the section Business
Carlos Ghosn Image copyright Reuters

It's hard to overstate the stature of Carlos Ghosn - and not just in the car-making world.

His position atop an empire comprising three of the world's biggest manufacturers - Nissan, Renault and Mitsubishi - made him the leader of a trailblazing global alliance. He is/was one of the most influential and powerful business leaders anywhere in the world.

Read full article The rise and fall of a business colossus

Theresa May is 'listening but not hearing'

  • 19 November 2018
  • From the section Business
Prime Minister Theresa May and CBI director-general Carolyn Fairburn Image copyright Getty Images
Image caption Heading in opposite directions? Prime Minister Theresa May (L) and CBI director-general Carolyn Fairburn (R)

The prime minister got a reasonably warm reception from business leaders today, reflecting both her recent efforts to re-engage with them and their concern about the possibility of a no-deal situation if her solution is defeated.

Severn Trent's chief executive Liv Garfield said she was backing the PM.

Read full article Theresa May is 'listening but not hearing'

'Wrecking ball' Brexit must be avoided, urges CBI

  • 19 November 2018
  • From the section Business
Prime Minister Theresa May Image copyright Getty Images

Businesses, of course, cannot vote.

But the CBI employers' group is urging MPs to consult the business leaders in their constituencies when THEY come to vote on Theresa May's Brexit deal.

Read full article 'Wrecking ball' Brexit must be avoided, urges CBI

The three reasons markets have fallen

  • 15 November 2018
  • From the section Business
Theresa May Image copyright Getty Images

The markets took a fright today as Theresa May's cabinet - and with it, her Brexit deal - appeared to be falling apart.

Markets are a bit like bookmakers, they reflect the odds of certain outcomes, and three things have just become more likely than they were yesterday. Leaving the EU without a deal, a change of Prime Minister and a general election. All three scare investors.

Read full article The three reasons markets have fallen

Hammond and Clark thank bosses for no-deal risk warnings

  • 15 November 2018
  • From the section Business
Philip Hammond and Greg Clark Image copyright Getty Images

Business Secretary Greg Clark and the Chancellor Philip Hammond thanked business leaders for helping to highlight the economic damage a no-deal scenario might do to the economy.

That prospect helped focus minds among cabinet ministers in a marathon and fractious meeting at Number 10, according to sources present. "When evidence and facts met hopes and aspirations the evidence and facts won," said one minister.

Read full article Hammond and Clark thank bosses for no-deal risk warnings