Telegraph court showdown to be adjourned after Barclays offer Lloyds £1.16bn.
The Barclay family is aiming to repay a long-standing debt to Lloyds Banking Group within a fortnight to regain control of The Daily Telegraph and Spectator, Sky News learns.
A court hearing to liquidate a Barclay family holding companies in order to smooth a sale of The Daily Telegraph is poised to be adjourned after a last-gasp offer to repay more than £1bn to Lloyds Banking Group.
Sky News understands that a hearing scheduled to take place in the British Virgin Islands on Monday is expected to be postponed while the bank considers the Barclays' latest effort to end the auction of the broadsheet newspapers.
An application to adjourn the hearing was submitted late on Friday.
Sources said this weekend that the Barclay family hoped to deliver a full repayment of its long-standing debt to Lloyds by the end of the month.
The adjourned court hearing would be expected to take place shortly after that date if the Barclays do not succeed in repaying the £1.16bn.
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Wednesday 22 November will see Chancellor Jeremy Hunt announce the Autumn Statement. Though the nation’s tax burden is on track to reach a post-war high, Hunt has been firm in the face of pressure to cut taxes, warning last month that the move would be “virtually impossible”.
As a result, next week’s announcement is likely to contain policy tweaks, rather than substantial tax and spending plans. Here, Investors’ Chronicle explains the challenging public finance position and looks at what to expect.
RE: Hunts betrayal to inflation for benefits18 Nov 2023 05:26
The State Pension with the triple lock should rise by 8.5% in April next year. This is calculated by the higher of wage growth between May and July (8.5%), CPI inflation figure for September (6.7%) or 2.5%. There is speculation that Hunt May manipulate the wage growth figures to take NHS Bonus's out of the calculation for wage growth which would give a lower figure of 7.8% instead, but that would surely be a vote loser if he chose to do that.
RE: V Important data this week UK &US.......15 Nov 2023 09:04
No doubt the shenanigans at Capitol Hill over the next 3 days will have a short term influence in the markets in the run up to the deadline for signing off the US Budget for the next year by Friday.