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The Latest Breaking News from Teneo

Teneo & Thoughtworks CEOs: the AI race will be won with governance, not speed

Something's about to break: 53% of investors want AI payback in six months. Only 16% of CEOs think they can deliver it.

Fortune

Lufthansa Group cancels 20,000 flights as jet fuel prices soar

The group, which includes Austrian Airlines, Brussels Airlines, ITA Airways and SWISS, said it has focused cuts on "unprofitable short-haul flights" through to October.

Euronews

WH Smith buyer seeks help with dozens of shops at risk of closure

WH Smith sold its high street stores to Modella last year, but held onto its travel shops

The Independent UK

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TG Jones owner calls in help for possible shop closure plan – reports

Modella Capital is reportedly in talks with Teneo over a plan for the chain, formerly WH Smith’s high street shops.

Evening Standard

CEOs seem determined to keep spending on AI - despite mixed success

Slightly more CEOs plan on spending cash on AI as positive economic outlooks dwindle.

TechRadar

UK court freezes £150m of assets of collapsed Prax Lindsey oil refinery owner

Newly published filings reveal granting of request by companies suing Sanjeev Kumar for breach of duties

The Guardian - UK

Government to cover pay and pensions at collapsed South Yorkshire steelworks

Unions receive assurances after state takes control of Liberty Steel plants that were put into administration

The Guardian - UK

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Loan ‘irregularities’ led to collapse of Prax Lindsey oil refinery

Administrator was appointed after parent company State Oil given new information about £783m loan

The Guardian - UK

US and China to talk in Stockholm as trade truce expiration nears

The talks are a precursor to a potential autumn meeting between US President Donald Trump and Chinese leader Xi Jinping.

Euronews

US and China to talk in Stockholm on trade with eye on Trump-Xi summit later this year

U.S. and Chinese officials are meeting in Stockholm to discuss trade tariffs and a potential summit between their leaders

The Independent UK

Thames Water spent £136m on securing emergency funding, leaked document suggests

‘Atypical expenditure’ document suggests utility’s costs over 12 months outstripped the £130m it paid in fines

The Guardian - UK

UK government wants investigation after Lindsey oil refinery owner falls into administration

Concerns over conduct of bosses at Lincolnshire site, with ministers saying workers had been ‘badly let down’

The Guardian - UK

What would happen if Thames Water is temporarily renationalised?

The government could put the struggling utility into a special administration regime – but what does this involve?

The Guardian - UK

Treasury threatens Defra with £4bn bill if Thames Water nationalised

Exclusive: Treasury threat an example of ‘scare tactics’ to help force through private sector deal, sources suggest

The Guardian - UK

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The Guardian - UK

Feeding frenzy: how army of advisers is making millions from Thames Water

Court case points to sizeable fees being racked up as firm seeks £3bn loan to try to avoid temporary nationalisation

Evening Standard

Homebase shop closures: Full list of 33 stores closing in February

It comes after 13 of the DIY chain's branches were shut last month

The Guardian - UK

Thames Water credit rating slashed as administrators approached

Moody’s changes outlook on firm from stable to negative as financial plans ‘do not provide attractive risk-return balance’

The Guardian - UK

UK government contacts potential administrators for Thames Water

Teneo, Interpath and EY among those reportedly approached for the role if company falls into bankruptcy

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news in one place.

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The Independent UK

Trump's executive order gives TikTok a reprieve. What happens next?

President Donald Trump has directed his Justice Department to pause enforcement of the TikTok ban until early April

The Guardian - US

Trump adviser who funded supreme court takeover wants to ‘crush liberal dominance’

Leonard Leo, rightwing billionaire who helped install conservative justices, outlines second term ambitionsUS politics – live updates

Evening Standard

Homebase’s £5m tax rebate delay revealed as 74 stores go up for sale

The stricken firm has set a deadline of the end of next week for potential buyers to snap up its remaining shops in the UK and Ireland

Evening Standard

Homebase bought out of administration securing up to 1,600 jobs

The deal to buy 70 stores came after Homebase appointed administrators on Wednesday but left 2,000 workers and 49 stores still at risk.

The Guardian - UK

Homebase collapses into administration with thousands of jobs at risk

Future of 2,000 staff remains unclear despite the bulk of stores being bought by the homeware retailer The Range

The National (Scotland)

Homebase ‘set for administration’ with thousands of jobs at risk across UK

HOMEBASE could be heading for a partial collapse, putting thousands of jobs at risk, amid reports that the chain has appointed insolvency experts…

Evening Standard

Homebase ‘set for administration’ with thousands of jobs at risk

The DIY retailer has struggled as customers cut back on spending amid the cost-of-living crisis.

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