The UK arm of Grant Thornton, the accountancy and professional services provider, is drawing up plans to invest millions of pounds in its Indian sister firm.
Sky News understands that the top ten auditor has asked its more than 200 UK partners to vote on the proposal later this month.
One source said the deal would involve a substantial sum of money being ploughed by Grant Thornton UK into Grant Thornton Bharat, its Indian equivalent.
The source described the proposal as “unusual”.
Like many other professional services firms, Grant Thornton’s national businesses are structured as a partner-owned network overseen by Grant Thornton International.
A spokesperson for Grant Thornton UK LLP said: “As a leading provider of professional services in the UK and a member of the Grant Thornton International network, Grant Thornton UK LLP is regularly in discussion with other member firms in order to strengthen collaboration throughout the network in support of our clients.
“However, we will not be commenting on any such discussions.”
More from Business
A person close to the talks said the proposed deal would give the UK business greater access to one of the fastest-growing parts of Grant Thornton’s international network.
Grant Thornton’s UK partners are expected to vote in favour of the transaction, the person added.
Advertisement
The spokesman declined to comment further on the deal.
The NESO is worried about a lack of spare capacity in the grid from 4pm until 7pm due to “system constraints”.
The body, which is in public control having been part of National Grid until last autumn, said in an update that it was seeking 1,200 megawatts (MW) of power as part of the so-called system margin notice.
Such notices are a call for a greater safety cushion between power demand and available supply.
More from Money
The NESO was at pains to point out that it does not signal that blackouts are imminent or that there is not enough generation to meet current demand.
The number of such power stations held in reserve was gradually drawn down under efforts to reduce the country’s carbon footprint.
Ratcliffe-on-Soar power station shut down in September.
The UK has reciprocal arrangements with neighbouring countries to draw power via so-called interconnectors if and when required to help keep the lights on.
National Grid data showed that more than 50% of the UK’s power was being generated through natural gas.
Renewables accounted for just 16% while France and Norway were helping provide 10% of output, with nuclear and Biomass accounting for the bulk of the balance.
Piers Morgan, the broadcaster and journalist, is leaving Rupert Murdoch’s British empire to focus on expanding his Uncensored YouTube channel in the US and other international markets, underlining prominent media figures’ accelerating shift away from traditional outlets.
Sky News can exclusively reveal that Mr Morgan and News UK – publisher of The Sun and The Times and owner of Times radio – have agreed a deal that will see him taking ownership of the Uncensored media brand and its existing 3.6 million-strong YouTube subscriber base through his production company, Wake Up Productions.
He is understood to have struck a four-year revenue-sharing deal with News UK that will see the Murdoch-owned company receiving a slice of the advertising revenue generated by Piers Morgan Uncensored until 2029.
Mr Morgan returned to News UK in January 2022 with a three-year deal that included writing regular columns for The Sun and New York Post, as well as presenting shows on the company’s now-folded television channel, Talk TV.
People close to the situation said a book deal with the Murdoch-owned publisher Harper Collins would still go ahead, with Mr Morgan expected to complete that project later this year.
He will also continue to write occasionally for News Corporation’s newspapers, according to one insider.
More from Money
Mr Morgan’s future had been the subject of growing speculation following the expiry of his three-year contract with News UK at the end of 2024.
As part of his new arrangements, Mr Morgan has also signed a deal with Red Seat Ventures, a US-based agency which partners with prominent media figures and influencers to help them exploit commercial opportunities through sponsorship and other revenue streams.
Among those Red Seat has worked with are Megyn Kelly, the American commentator, and Tucker Carlson, the former Fox News presenter.
Mr Morgan is also understood to have received expressions of interest in other commercial and broadcasting deals from American media groups, having been one of few Brits to present his own TV chatshow on a mainstream US network.
Fond of the phrase “One day you’re the cock of the walk, the next you’re the feather duster,” during various phases of his career, his latest deal reflects the shifting dynamics in media consumption.
Responding to an enquiry from Sky News on Wednesday morning, Mr Morgan said in a statement: “I have had a great time working back at News and am delighted that we will continue to be partners.
“Owning the brand allows my team and I the freedom to focus exclusively on building Uncensored into a standalone business, editorially and commercially, and in time, widening it from just me and my content.
“It’s clear from the recent US election that YouTube is an increasingly powerful and influential media platform, and Uncensored is one of the fastest-growing shows on it in the world.
“I’m very excited about the potential for Uncensored.”
Mr Morgan declined to comment on any other aspect of his new arrangement with News UK or his expansion plans ahead of an official announcement, which is understood to be scheduled for later on Wednesday.
His decision to strike out on his own – albeit with a continued relationship with News UK – is said to reflect his belief that broadcast audiences will increasingly shift away from mainstream channels to platforms such as YouTube.
“He thinks YouTube will be a dominant broadcasting platform in terms of audience share within a couple of years,” said one.
It was unclear what the precise revenue split would be between Wake Up Productions and News UK during their four-year partnership.
He is expected to focus his efforts to expand Uncensored on US audiences initially, with a wider international plan to follow that.
On Tuesday, Mr Morgan posted on X that he believed an interview with Elon Musk, the Tesla founder who has sparked a firestorm in British politics in recent weeks, was “getting closer”.
Among the other interviewees on his YouTube show have been Donald Trump during his first presidency, the Ukrainian president Volodomyr Zelensky and Cristiano Ronaldo, the footballer.
Rolls-Royce Motor Cars says a record £300m investment at its West Sussex factory base will help expand production of bespoke and electric models.
The BMW-owned firm, like rivals in the luxury sphere, has enjoyed rising demand for personalised vehicles among its wealthy customer base.
The carmaker said recent orders to complement its base models included 18-carat gold sculptures, embroideries consisting of more than 869,500 stitches, wood veneers including 500 individually-shaped pieces and holographic paint finishes.
The investment, Rolls-Royce said, would bolster facilities at Goodwood to cover such requests and also its Coachbuild programme – an invitation-only service where clients get to “craft an entirely original motor car.”
The company added that additional space would also be created to prepare Rolls-Royce for an all-battery electric future, with a new fully electric model due to be unveiled later this year.
The £300m investment marked the largest cash injection in the company’s operations since the plant opened in 2003, Rolls said.
More from Money
It made the announcement while revealing a fall in sales during 2024.
The company sold 5,712 cars in 2024, a drop of more than 5% versus the 6,032 vehicles sold over the previous 12 months.
It said the decline was in line with expectations as it switches over to new models. Four were introduced during 2024 including the Cullinan Series 2 and Ghost Series 2.