LATEST ARTICLES

Carillion collapse: Minister claims 'no chaos'

A top minister has insisted there's "no evidence of chaos" amid the collapse of Carillion as he defended the Government's awarding of contracts to the now-bust construction firm. Cabinet Office minister David Lidington chaired a meeting of the emergency COBRA committee on Monday night following the collapse of the major public service provider. Ministers were forced to respond after the crisis-stricken...

What ultimately went wrong at Carillion?

Carillion ultimately went under for the same reason every company goes under - it was overwhelmed by its debts and was unable to obtain further credit from its lenders. Behind that, though, is the story of a company that was consistently too optimistic about the profitability of the work it was doing. At the heart of that were cost overruns on...

Dozens hurt in stock exchange ceiling collapse

Nearly 80 people have been injured after a ceiling inside the Jakarta stock exchange tower collapsed. CCTV footage showed a group of about 40 visiting students walking on the mezzanine floor before it suddenly crashed down. People can be seen falling into the lobby below as the ceiling collapses with no apparent warning. Workers fled the building through piles of debris strewn...

Enjoying 10 Years of OSCAR Success

If ever an OSCAR Pet Food franchise fell into the right hands it had to be those of Steve and Jill Tubbs! “Ten years ago, our lives were turned upside down when plans to close our shop/filling station and sell the property to redevelop a new business failed to work out,” Steve says, “The sale at least gave us time...

Banks face £2bn loss from collapsed Carillion

Lenders to Carillion, the construction giant which collapsed into liquidation on Monday, are facing losses of up to £2bn, making it one of the costliest corporate insolvencies for years. Sky News has learnt that a complex series of financing arrangements for subsidiaries of Carillion mean that the total exposure of its banking syndicate is far higher than the £900m headline...

SpaceX to fire most powerful rocket's engines

The long-awaited test fire of what may be the world's most powerful rocket - SpaceX's Falcon Heavy - will take place on Tuesday. Elon Musk, the billionaire behind the private aerospace company, said he wants the rocket to take his own midnight cherry Tesla Roadster into orbit around Mars while playing David Bowie's Space Oddity. Just like SpaceX's regular Falcon 9...

Will a post-Brexit economy swap workers for robots?

There are not many economic fields in which Britain truly leads the world. Financial innovation, perhaps. Deep sea oil mining maybe. Formula One engineering, probably. But there is one sector where the UK is an indisputable leader: sandwiches. This country is more efficient and more successful at producing high quality takeaway sandwiches than any other economy in the world. Britain's sandwich industry...

Carillion appeals to banks as administration looms

Directors of Carillion were making a final rescue appeal to its lending banks on Sunday night after the Government refused to rescue the ailing construction group, taking it to the brink of collapse. Sky News has learnt that the company's board was meeting ahead of a last-gasp plea for financial support? from its syndicate of lenders, without which its collapse...

Ryanair changes rules for on board baggage

Budget holidaymakers will not be able to take two cabin bags on board when flying with Ryanair in new rules implemented today. The Irish airline is introducing a new system which will mean passengers wanting to take two cabin bags on board must pay for priority boarding, which will let them on the aircraft first and give them access to...

Carillion: 'Matter of days' to stop collapse

The future of troubled engineering company Carillion is being discussed at high-level government meetings this weekend, the BBC understands.The firm is a key government contractor for projects including the HS2 high-speed rail scheme, schools and prisons.Sources say the firm...

Under-threat HS2 firm in last-ditch crisis talks

Britain's second-largest construction group is on the brink of collapse this weekend as its directors plot last-ditch talks aimed at securing new financial guarantees from ministers. Sky News has learnt that Carillion, which is building the HS2 high-speed rail link and other big Government infrastructure projects, could crash into administration as soon as Monday. Its fate hangs on the outcome of...

HS2 construction giant on brink of collapse

Britain's second-largest construction group is on the brink of collapse this weekend as its directors plot last-ditch talks aimed at securing new financial guarantees from ministers. Sky News has learnt that Carillion, which is building the HS2 high-speed rail link and other big Government infrastructure projects, could crash into administration as soon as Monday. Its fate hangs on the outcome of...

Ban on 'rip-off' card surcharges takes effect

A ban on "rip-off" surcharges comes into force today in a move that the Government hopes will stop shoppers from being penalised if they're paying with a debit or credit card. Economic Secretary to the Treasury John Glenn says it's a response to public frustration. "I think for too long consumers have been fed up when they get this sneaky charge...

Socking it to 'em

Media playback is unsupported on your device "Pull up your socks" isn't just a phrase to John Cronin. It's been the key to his entrepreneurial success.Back in 2016, the 21-year-old told his dad, Mark,...

Open Banking 'revolution' to challenge banks' dominance

A fundamental change to the way people can bank, manage and spend their money in the digital world is under way.A change in the law and the start of the Open Banking system means people...

Most workers fear pay could fall, warns think tank

More than three quarters of UK workers are worried their pay could fall in future due to rising prices, a report by a think tank has warned. It found four of five of those currently in work fear the...