SoftBank and Abu Dhabi fund eye government tilt at satellite group OneWeb | Business News

SoftBank, the Japanese technology giant, and an Abu Dhabi sovereign wealth fund are in talks to back a controversial UK government-led bid for OneWeb, the collapsed satellite operator.

Sky News has learnt that SoftBank and Mubadala, an investment arm of the Gulf state, have been holding detailed talks with Whitehall officials about contributing hundreds of millions of pounds to a newly comprised shareholders group.

The pair of powerful investors would join the government – whose enthusiasm about becoming a key shareholder in OneWeb is said to be being driven by Dominic Cummings, the prime minister’s chief adviser – and Bharti Enterprises, the giant Indian-based telecoms services provider.

November 2018: Doubts for UK satellite plans after Brexit

Sources said the consortium had tabled a formal bid for control of OneWeb ahead of a deadline set by a US bankruptcy court, which is overseeing an auction that will unfold later on Thursday.

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Crumbling schools in England to benefit from 10-year government rebuilding programme | UK News

Some of England’s crumbling schools and colleges are to benefit from a 10-year rebuilding programme under plans to be set out by the prime minister today.

Representing the first major rebuilding programme to be launched since 2014, schools will benefit from additional investment.

Schools and colleges will also receive funding this year to refurbish buildings in order to continue raising standards across the country.

PM wants September full-time school return

The first wave of money will be spent in former red wall communities in the North and Midlands where voters showed their support for the Conservatives in the 2019 general election.

Boris Johnson said: “All children deserve the best possible start in life – regardless of their background or where they live.

“As we bounce back from the pandemic, it’s important we lay the foundations for a country where everyone has the opportunity to succeed, with our younger generations

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UK companies that took government support top pay ratios

The chief executives of FTSE 100 companies that have tapped government support schemes through the coronavirus crisis received higher than average multiples of staff pay, according to new research.

A report by the High Pay Centre showed that the 11 FTSE 100 companies found to have used the schemes paid their chief executives an average of 80 times more than their median employee and 109 times more than their lowest-paid staff.

The High Pay Centre analysed the pay ratio disclosures made by 107 UK companies that have published their annual reports so far this year. Two-thirds of the FTSE 350 are yet to report.

The average chief executive of a UK company was paid nearly £3m last year — 55 times more than the company’s median employee and 78 times more than employees in the lowest quartile.

The report identified 39 FTSE 350 companies that had benefited from government support

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Coronavirus: New government taskforce ‘to fast-track building of schools, roads and hospitals’ | Politics News

The government is to launch a new taskforce it says will accelerate the delivery of major projects as Britain tries to find a way out of the economic downturn caused by the coronavirus pandemic.

The Infrastructure Delivery Taskforce charged with fast-tracking the building of schools, hospitals, roads and even prisons is due to be announced by Boris Johnson in a speech next week.

The group, which Downing Street said would be known as “Project Speed”, will be led by Chancellor Rishi Sunak.

It will “look across the full range of government’s public investment projects and cut delivery times by removing bottlenecks at every step of development and delivery”.

Rishi Sunak will oversee public investment projects

Mr Johnson – who claimed to be feeling as “fit as a butcher’s dog” following his own brush with COVID-19 – told the Mail on Sunday: “This has been a huge, huge shock to

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