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Turkish fund eyes £900m British Steel revival‎ plan

Turkish fund eyes £900m British Steel revival‎ plan

Business
By Mark Kleinman, City editor The Turkish pension fund plotting a takeover of British Steel is preparing to commit close to £1bn to help fund the company's revival.Sky News has learnt that Ataer Holding, which is poised to enter a formal period of exclusive negotiations to buy British Steel this week, has drawn up a business plan that would involve approximately £900m of investment over several years. The figure is in addition to a support package from the government - revealed by Sky News late last week - that could amount to £300m in the form of grants, indemnities and loans on commercial terms.Ataer is a unit of Oyak, which looks after the pension pots of Turkey's military personnel.Insiders said that the Official Receiver (OR) was likely to announc
Ministers agree £300m British Steel support package

Ministers agree £300m British Steel support package

Business
By Mark Kleinman, City editor The government has agreed to provide financial support to British Steel potentially worth hundreds of millions of pounds, paving the way for Turkey's military pension fund to secure the company's immediate future.Sky News has learnt that ministers at the Department for Business, Energy and Industrial Strategy (BEIS) have signed off on the package, which will encompass grants, possible indemnities, loans on commercial terms and other items. The move will, if finalised, smooth the path towards a takeover of British Steel that would salvage many thousands of jobs.City sources said on Friday that the government's agreement to provide the funding would enable the Official Receiver (OR) to grant Ataer Holding a formal period of ...
Missing British scientist found dead in 65ft ravine on Greek island

Missing British scientist found dead in 65ft ravine on Greek island

World
The body of a British woman missing on the Greek island of Ikaria has been found in a ravine.Astrophysicist Natalie Christopher had been missing since Monday morning after she failed to return from a run. In a brief statement, Greek police confirmed that a body found in a 20m (65ft) deep ravine belonged to the 35-year-old. Image: The 35-year-old was reported missing after she failed to return from a run It was found by a volunteer assisting in the search.The cause of death has not yet been established. Advertisement Ms Christopher, who was from London but lived in Nicosia in Cyprus, was on holiday with her Cypriot partner at the time of her disappearan...
Women’s British Open: Charley Hull makes strong start

Women’s British Open: Charley Hull makes strong start

Sports
Media playback is not supported on this device First round leaderboard-7 A Buhai; -6 H Shibuno (Jpn), D Kang (US); -5 C Hull (Eng) M Jutanugarn (Tha), HS Park (Kor) M Khang (US); -4 A Jutanugarn (Tha), JE Lee (Mor), YJ Ko (Kor)Selected others: -3 G Hall (Eng); -2 B Law (Eng); -1 L Thompson (US); +10 L Davies (Eng)England's Charley Hull started strongly at the Women's British Open at Woburn in her bid to win a first major.Hull, 23, shot a five-under-par 67 on her home course - including a birdie at the 18th - and is two shots adrift of leader Ashleigh Buhai of South Africa.Hinako Shibuno ...
British Gas firm’s shares at 21-year low as boss to step down

British Gas firm’s shares at 21-year low as boss to step down

Business
By James Sillars, business reporter Shares in British Gas parent Centrica are trading at levels not seen since 1998 after it reported a slew of negative news and said its chief executive was to go.Iain Conn, the company said, would "step down" next year following an "exceptionally challenging" period. The announcement was made alongside financial results which showed Centrica had swung to a £446m loss in the first six months of the year compared with profits of £704m in the same period last year.It blamed a string of problems including the impact of the price cap on default energy tariffs, warm weather and a further bleeding of 178,000 customers from its British Gas arm.Centrica said Mr Conn had "agreed with the board" to remain in post "to drive the r