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Singapore eyes £2bn UK schools group

One of Singapore’s giant sovereign wealth funds is weighing a £2bn joint bid for Cognita, the UK-based schools operator. Sky News understands that Temasek Holdings is working with an infrastructure fund managed by EQT, the Swedish private equity firm, on a potential offer for Cognita. One of Britain’s biggest …

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Debenhams issues new profit warning amid tough trading

Debenhams has issued a fresh profit warning, admitting sales are falling short of already lowered expectations amid the crisis facing the high street. Shares – already 43% down in the year to date – sank by 19% when the market opened as investors digested the downbeat update. The department …

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China shares sink on new Trump tariff threat

Investors are reacting nervously to a potential escalation in President Trump’s trade war with China, with stock markets falling sharply in Asia. China’s Shanghai Composite lost up to 5% of its value at one stage after the US president asked officials to identify $200bn dollars-worth of Chinese goods to …

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KPMG facing fresh crisis over FRC verdict

Britain’s big four accountancy firms ‎will be plunged further into the quagmire this week when their regulator highlights a decline in the quality of their audit work during the last year. Sky News has learnt that the Financial Reporting Council’s (FRC) annual audit quality review will single out KPMG, …

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BA owner in German dogfight for Norwegian Air

Shares in Norwegian Air soared almost 10% after the boss of Lufthansa said the German carrier was interested in making a bid for the low-cost airline.  Carsten Spohr told the German newspaper Suddeutsche Zeitung that there was “a new wave of consolidation approaching”, adding that Lufthansa was “in contact …

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City chiefs beg Hammond for tax burden probe

The Treasury should commission an independent review of the tax burden imposed on entrepreneurs and the broader finance industry, a group of City chiefs will urge Philip Hammond this week. Sky News has obtained a letter, signed by the bosses of Britain’s biggest financial services trade bodies, which calls …

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