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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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Audi boss arrested over 'dieselgate' scandal

The chief executive of Audi has been detained by German authorities investigating the “dieselgate” scandal at parent firm Volkswagen. Prosecutors in Munich said Rupert Stadler – the most senior group official to be held since the emissions saga began almost three years ago – was arrested at home in …

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