CBI hands new information to police after report of ‘serious criminal offence’

Published

2 years ago

April 20, 2023

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The scandal-hit CBI, Britain’s biggest employers’ group, says it has passed fresh information to the police relating to a report of a “serious criminal offence”.

The body said it was “liaising closely” with officers as it remains mired by allegations of historic workplace misconduct.

The allegations culminated in director general Tony Danker being sacked earlier this month and three other current employees being suspended.

The CBI has made clear previously that Mr Danker was not the subject of the most serious allegations, including rape, that had been made to date.

Nevertheless, he hit out at the organisation’s handling of the affair in an interview earlier this week, claiming he had been made the “fall guy” for the CBI’s failings as an employer going back before his tenure.

While he admitted several instances of making colleagues feel “very uncomfortable”, he has denied any suggestion of wrongful physical contact and complained that his reputation has been wrongly trashed.

The CBI responded by saying the decision to dismiss him was made on strong legal advice and he was free to seek redress if he felt poorly treated.

Mr Danker has been succeeded as director general by Rain Newton-Smith, the organisation’s former chief economist.

Sky News has reported how she was parachuted into the role after chairman Brian McBride told members he was unsure whether the lobby group could have avoided collapse if it had run a lengthy process to find a successor.

The total number of people being investigated by City of London Police is not known.

The Guardian reported earlier this month that it had been approached by more than a dozen women claiming they had been victims of sexual misconduct.

One alleged she had been raped at a staff party in 2019 but had not told the police.

The CBI did not disclose what alleged incident its action related to.

The statement read: “Late yesterday afternoon, the CBI was made aware of additional information relating to a report of a serious criminal offence.

“We have passed that information immediately to the police, with whom we are liaising closely and who have asked us not to comment further on potentially criminal matters.

“Recognising the need for confidentiality, we urge anyone, including the media, who has further information in relation to any alleged offence to also report that to the police.”

The statement added that the law firm investigation it commissioned to examine several areas including its handling of the scandal would report back imminently.

“The board will be communicating its response to this and other steps we are taking to bring about the wider change that is needed early next week,” the statement concluded.

Business

Energy bills to rise again from January but spring falls to come, research firm Cornwall Insight forecasts

Published

7 hours ago

November 18, 2024

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Energy bills to rise again from January but spring falls to come, research firm Cornwall Insight forecasts

Energy bills are to rise again next year, according to a respected forecaster.

Costs from January to March are projected to rise another 1% to £1,736 a year for the average user, according to research firm Cornwall Insight.

The energy price cap, which sets a limit on how much companies can charge per unit of electricity, is also expected to rise, costing typical households an extra £19 a year.

It’s a further increase after energy costs rose 10% from October.

After the latest hike, there were hopes of a fall in the new year, but volatile wholesale gas and electricity markets are still above historic average costs.

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Prices have gone up due to supply concerns arising from Russia‘s war in Ukraine, and maintenance of Norwegian gas infrastructure.

But spring is expected to herald a reduction as is October 2025, Cornwall Insight said.

Every three months energy regulator Ofgem revises the cap based on wholesale costs.

The official January price cap announcement will be made on Friday.

It comes as millions of pensioners lost their automatic winter fuel allowance payment after the government means-tested the benefit.

Meanwhile, Cornwall Insight’s principal consultant Dr Craig Lowrey warned “millions” of households won’t heat their homes to “recommended temperatures, risking serious health consequences” with bills on the rise.

“With it being widely accepted that high prices are here to stay, we need to see action,” he said, suggesting options like cheaper rates for low-income homes, benefit restructuring, or other targeted support for the vulnerable “must be seriously considered”.

The energy price cap system is being reviewed by Ofgem with possible changes to the standing charge coming over the next year.

The long-lasting solution to high energy bills is the transition to UK-produced renewable power, the firm said.

“While there will be upfront costs, this shift is essential to building a sustainable and secure energy system for the future.”

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Grangemouth oil refinery owners reject US-led approach as closure looms

Published

9 hours ago

November 18, 2024

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Grangemouth oil refinery owners reject US-led approach as closure looms

The owners of Scotland’s only oil refinery have rejected a US-led approach about a possible bid for it months before its scheduled closure.

Sky News has learnt that a consortium said to be led by Robert McKee, an American energy industry veteran, wrote to Petroineos, the owner of the Grangemouth site, to express an interest in buying it.

The approach, which is understood to have been made earlier this month, was rejected by Petroineos, which is 50%-owned by the petrochemicals empire founded by the Manchester United FC shareholder Sir Jim Ratcliffe.

The consortium is understood to comprise The Canal Group, which is reportedly developing a green energy refinery in Texas, and Trading Stack, a Middle East-based commodities trader.

Mr McKee spent nearly four decades with ConocoPhillips, one of the biggest energy companies in the US.

Sources close to the situation said that Petroineos had rebuffed the offer in order to concentrate on a publicly announced plan to transform the century-old plant into a finished fuels import terminal.

They added that the nature of the consortium’s approach had raised questions about its access to financing and expertise in operating an asset of this kind.

The Grangemouth refinery, which employs about 450 people, loses about £200m annually.

Its other shareholder is the state-backed Chinese energy giant PetroChina.

The site is due to close next year.

A person close to the consortium insisted that its financing was robust and said it would assess the feasibility of building a new refinery elsewhere in the area.

They added that the consortium had had “positive interactions” with trade union officials, and believed that there was scope to rapidly make Grangemouth’s refinery operations profitable.

On Monday, a spokesman for Petroineos said: “Since the Petroineos joint venture was formed 13 years ago, our shareholders have invested nearly £1bn in the refinery, only to absorb losses of £600m.

“Last week, the refinery lost £385,000 on average each day and we expect to lose more than £150m in total during the course of this year.

“We have not received any credible or viable bids for the refinery.”

A spokesman for the consortium declined to comment.

Business

Cineworld owners screen plan for stock market comeback in New York

Published

1 day ago

November 17, 2024

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Cineworld owners screen plan for stock market comeback in New York

Cineworld’s hedge fund backers are drawing up plans to return the cinema operator to the public markets amid continuing uncertainty about the future of dozens of its British sites.

Sky News has learnt that the company’s owners are at the early stages of considering a New York listing for the business, with the first half of 2026 considered a likely window for it to take place.

City insiders said that a flotation was likely to encompass Cineworld’s operations outside the UK, with the group’s board expected to consider a sale of the British operations at some point.

They cautioned, however, that no decisions had been reached and would not be for some time.

The fate of Cineworld’s business in the UK has been mired in uncertainty for months, with the company initially exploring a sale of it before turning to a restructuring plan which compromises many of its landlords and other creditors.

It has announced the permanent closure of six sites, but it emerged last month that nearly 20 more were at risk of being shut amid ongoing talks with property owners.

The restructuring plan is due to complete later this month, which some landlords have opposed over the fairness of its terms.

Documents circulated as part of the restructuring plan process highlighted the fact that the company did not have sufficient funding to meet a quarterly rent bill on June 24 of £15.9m.

“Absent this funding, the UK Group would have been insolvent on a cashflow basis,” they said.

Other cinema operators, such as Odeon, are now poised to step in to take over small numbers of Cineworld’s other sites.

The company trades from more than 100 locations in Britain, including at the Picturehouse chain, and employs thousands of people.

Cineworld grew under the leadership of the Greidinger family into a global giant of the industry, acquiring chains including Regal in the US in 2018 and the British company of the same name four years earlier.

Its multibillion-dollar debt mountain led it into crisis, though, and forced the company into Chapter 11 bankruptcy protection in 2022.

It delisted from the London Stock Exchange in August 2023, having seen its share price collapse.

In addition to the UK, Cineworld also operates in central and Eastern Europe, Israel and the US.

Cineworld has been contacted for comment.