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The entrepreneur Dale Vince has made a fresh approach to the owner of The Guardian in a bid to persuade it to open talks with him about The Observer, days after its sale was agreed to a digital start-up.

Sky News has seen an email sent at the weekend by Mr Vince to Ole Jacob Sunde in which he asks whether an interview given to a Sunday newspaper indicating that he was open to other talks about The Observer’s future represented “a change of position” from the left-wing newspaper publisher.

Mr Vince, who had held talks with the Guardian Media Group chair, Charles Gurassa, prior to last week’s confirmation of The Observer’s sale to Tortoise Media, wrote to Mr Sunde: “I am ready to engage with your team if you are serious.

“I don’t imagine you expect a blind bid, or would take one seriously, [and] a discussion on the numbers therefore would be the right starting place. Is that possible?”

“Broadly speaking my intentions for the Observer match your own; I’m a fan and a reader and a believer in media pluralism.

“I operate a group of companies that made £38m last year on roughly £500m of turnover – all operating in the green economy.

“The Observer clearly needs a digital presence in order to stand alone, I believe the print version is essential to maintain – and the Guardian subscriber model is I believe the right approach.”

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Mr Vince, who has founded a string of green energy businesses and owns Forest Green Rovers Football Club, is understood to have written to Mr Sunde after the Scott Trust chair was asked by The Sunday Times whether he would still consider selling to a rival to Tortoise Media.

“Of course, at any time in the process, you would listen to people coming to talk to you,” Mr Sunde told The Sunday Times.

“And we will listen, as we have done with all the different bidders that have come.”

However, his comments appeared to be at odds with a subsequent email sent by Mr Sunde in response to Mr Vince’s latest overture – which has also been seen by Sky News.

“Our position hasn’t changed and we are still not in a position to have discussions with other interested parties,” Mr Sunde told the entrepreneur.

“You are the only person who has addressed us, revealing your identity and intentions.”

Despite saying that the Scott Trust had no grounds to talk to rival bidders, Mr Sunde concluded his email: “May I suggest that any further queries are directed to [Charles Gurassa] at this point.”

A GMG spokeswoman confirmed on Monday that the company remained in exclusive discussions with Tortoise Media, having said last Thursday that it expected a formal sale agreement to be signed within days.

The Scott Trust has pledged to invest £5m into Tortoise Media in exchange for a stake and a board seat, in an attempt to placate furious Guardian and Observer journalists.

Last week, they went on strike for two days in protest at the sale.

On Friday, Mr Vince accused the newspapers’ owners of telling “a complete untruth” about his interest in The Observer.

“I don’t understand why my interest in the Observer continues to be mischaracterised by the Guardian/Scott Trust,” he told Sky News.

One source said that the apparent mixed messaging from GMG and the Scott Trust raised important questions about corporate governance at the two organisations, and said the “fiasco” would put serious pressure on the organisations’ leadership.

Paul Webster, who until last month was The Observer’s editor, accused Mr Sunde of failing to consult him or colleagues on the paper about the sale.

If the deal with Tortoise Media completes, it will see The Observer in new ownership for the first time since the early 1990s.

Founded in 1791, it is the oldest Sunday newspaper in the world.

Its takeover by a digital media startup will underline the shifting dynamics sweeping the global news media landscape.

GMG and the Scott Trust declined to comment beyond confirming the accuracy of Mr Sunde’s quotes in The Sunday Times.

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US-listed Ulta Beauty swoops on high street chain Space NK

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US-listed Ulta Beauty swoops on high street chain Space NK

A New York-listed company with a valuation of more than $21bn is to snap up Space NK, the British high street beauty chain.

Sky News has learnt that Ulta Beauty, which operates close to 1,500 stores, is on the verge of a deal to buy Space NK from existing owner Manzanita Capital.

Ulta Beauty is understood to have registered an acquisition vehicle at Companies House in recent weeks.

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The exact price being paid by Ulta was unclear on Thursday morning, although one source said it was likely to be well in excess of £300m.

Manzanita Capital, a private investment firm, engaged bankers at Raymond James to oversee an auction in April 2024.

The firm has owned Space NK for more than 20 years.

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Manzanita has also owned the French perfume house Diptyque and Susanne Kaufmann, an Austrian luxury skincare brand.

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Founded in 1993 by Nicky Kinnaird, Space NK – which is named after her initials – trades from dozens of stores and employs more than 1,000 people.

It specialises in high-end skincare and cosmetics products.

Manzanita previously explored a sale of Space NK in 2018, hiring Goldman Sachs to handle a strategic review, but opted not to proceed with a deal.

None of Ulta, Manzanita, Space NK and Raymond James could be reached for comment.

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Royal Mail to scrap second-class post on Saturdays and some weekdays

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Royal Mail to scrap second-class post on Saturdays and some weekdays

Royal Mail is to be allowed to scrap Saturday second-class stamp deliveries, under a series of reforms proposed by the communications regulator.

From 28 July, Royal Mail will also be allowed to deliver second-class letters on alternate weekdays, Ofcom said.

The post will still be delivered within three working days of collection from Monday to Friday.

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The proposals had already been raised by Ofcom after a consultation was announced in 2024, and the scale back was proposed early this year.

Royal Mail had repeatedly failed to meet the so-called universal service obligation to deliver post within set periods of time.

Those delivery targets are now being revised downwards.

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Rather than having to have 93% of first-class mail delivered the next day, 90% will be legally allowed.

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The sale of Royal Mail was approved in December

The target for second-class mail deliveries will be lowered from 98.5% to arrive within three working days to 95%.

A review of stamp prices has also been announced by Ofcom amid concerns over affordability, with a consultation set to be launched next year.

It’s good news for Royal Mail and its new owner, the Czech billionaire Daniel Kretinsky. Ofcom estimates the changes will bring savings of between £250m and £425m.

A welcome change?

Unsurprisingly, the company welcomed the announcement.

“It is good news for customers across the UK as it supports the delivery of a reliable, efficient and financially sustainable universal service,” said Martin Seidenberg, the group chief executive of Royal Mail’s parent company, International Distribution Services.

“It follows extensive consultation with thousands of people and businesses to ensure that the postal service better reflects their needs and the realities of how customers send and receive mail today.”

Citizens Advice, however, doubted whether services would improve as a result of the changes.

“Today, Ofcom missed a major opportunity to bring about meaningful change,” said Tom MacInnes, the director of policy at Citizens Advice.

“Pushing ahead with plans to slash services and relax delivery targets in the name of savings won’t automatically make letter deliveries more reliable or improve standards.”

Acknowledging long delays “where letters have taken weeks to arrive”, Ofcom said it set Royal Mail new enforceable targets so 99% of mail has to be delivered no more than two days late.

Changing habits

Less than a third of letters are sent now than 20 years ago, and it is forecast to fall to about a fifth of the letters previously sent.

According to Ofcom research, people want reliability and affordability more than speedy delivery.

Royal Mail has been loss-making in recent years as revenues fell.

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In response to Ofcom’s changes, a government spokesperson said: “The public expects a well-run postal service, with letters arriving on time across the country without it costing the earth. With the way people use postal services having changed, it’s right the regulator has looked at this.

“We now need Royal Mail to work with unions and posties to deliver a service that people expect, and this includes maintaining the principle of one price to send a letter anywhere in the UK”.

Ofcom said it has told Royal Mail to hold regular meetings with consumer bodies and industry groups to hear their experiences implementing the changes.

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A pub a day to close this year, industry body warns as it calls for cut to tax burden

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A pub a day to close this year, industry body warns as it calls for cut to tax burden

An industry body has warned that the equivalent of more than one pub a day is set to close across Great Britain this year.

According to the British Beer and Pub Association (BBPA), an estimated 378 venues will shut down across England, Wales and Scotland.

This would amount to more than 5,600 direct job losses, the industry body warns. It has called for a reduction in the cumulative tax and regulatory burden for the hospitality sector – including cutting business rates and beer duty.

The body – representing members that brew 90% of British beer and own more than 20,000 pubs – said such measures would slow the rate at which bars are closing.

BBPA chief executive Emma McClarkin said that while pubs are trading well, “most of the money that goes into the till goes straight back out in bills and taxes”.

“For many, it’s impossible to make a profit, which all too often leads to pubs turning off the lights for the last time,” she said.

“When a pub closes, it puts people out of a job, deprives communities of their heart and soul, and hurts the local economy.”

She urged the government to “proceed with meaningful business rates reform, mitigate these eye-watering new employment and EPR (extended producer responsibility) costs, and cut beer duty”.

“We’re not asking for special treatment, we just want the sector’s rich potential unleashed,” she added.

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The government has said it plans to reform the current business rates system, saying in March that an interim report on the measure would be published this summer.

From April, relief on property tax – that came in following the COVID-19 pandemic – was cut from 75% to 40%, leading to higher bills for hospitality, retail and leisure businesses.

The rate of employer National Insurance Contributions also rose from 13.8% to 15% that month, and the wage threshold was lowered from £9,100 to £5,000, under measures announced by Rachel Reeves in the October budget.

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