PPE firm linked to Michelle Mone misses deadline to repay £122m

The GuardianWednesday, October 15, 2025 at 5:52:20 PM
PPE firm linked to Michelle Mone misses deadline to repay £122m
A company associated with Michelle Mone has missed a crucial deadline to repay £122 million to the UK government, as ordered by the high court. This amount was paid for surgical gowns that were deemed unusable, raising serious concerns about accountability and the handling of public funds during the pandemic. The failure to meet this repayment deadline not only reflects poorly on the firm but also highlights ongoing issues in the procurement processes for personal protective equipment, which are vital for public health.
— Curated by the World Pulse Now AI Editorial System

Was this article worth reading? Share it

Recommended Readings
Michelle Mone Net Worth 2025: The £145 Million Scandal That Shattered a Peer’s Fortune
NegativeFinancial Markets
The recent revelations surrounding Michelle Mone's net worth, estimated at £145 million, have sparked a scandal that has significantly impacted a peer's fortune. This situation is crucial as it highlights the potential consequences of financial mismanagement and the scrutiny that public figures face regarding their wealth. As the story unfolds, it raises questions about accountability and the integrity of those in positions of power.
French PM Lecornu escapes first no confidence vote after major concessions
PositiveFinancial Markets
French Prime Minister Lecornu successfully navigated his first no confidence vote, thanks to significant concessions made to opposition parties. This outcome is crucial as it stabilizes the government and allows for continued progress on key policies. The concessions demonstrate a willingness to collaborate and compromise, which could foster a more cooperative political environment moving forward.
KKR forgoes dividends as €22bn Italian telecoms bet goes awry
NegativeFinancial Markets
KKR's recent decision to forgo dividends highlights the challenges faced by its €22 billion investment in Italian telecoms, particularly with FiberCop experiencing significant customer losses. This situation is compounded by the firm's resistance to government pressure for a merger with a state-backed rival. The implications of this move are significant, as it not only affects KKR's financial strategy but also raises questions about the future of competition in the Italian telecom market.
China’s Scrambled Weather and Safety Scrutiny Tilt Coal Higher
PositiveFinancial Markets
Chinese coal prices are on the rise due to increasingly unpredictable weather and heightened government oversight of mining operations. This scrutiny aims to prevent accidents and manage overproduction, which is crucial for maintaining safety and stability in the coal industry. As the government takes these steps, it reflects a proactive approach to balancing energy needs with safety concerns.
Trump Can’t Lay Off Government Employees During Shutdown—At Least For Now, Judge Rules
NeutralFinancial Markets
A recent ruling has clarified that President Trump cannot lay off government employees during the ongoing shutdown, at least for the time being. This decision follows the government's admission that it had inadvertently laid off hundreds more employees than it had planned. This ruling is significant as it highlights the complexities and challenges of managing government operations during a shutdown, ensuring that employees are protected from unintended job losses.
Trump signs executive order to reform federal hiring practices
PositiveFinancial Markets
President Trump has signed an executive order aimed at reforming federal hiring practices, which could streamline the process and make it more efficient. This move is significant as it seeks to address long-standing issues within the federal workforce, potentially leading to a more effective government. By simplifying hiring procedures, the administration hopes to attract a diverse pool of talent and improve public service delivery.
UK’s Top Energy Suppliers Warn Bills Will Surge on Grid Upgrades
NegativeFinancial Markets
Executives from major energy suppliers in the UK are sounding the alarm about rising consumer bills due to government investments in the power grid. This situation is concerning as it highlights the potential financial burden on households, making energy affordability a pressing issue for many. As the government pushes for modernization, the balance between necessary upgrades and consumer costs will be crucial.
France’s Political Turmoil Is Weighing on Its Economy
NegativeFinancial Markets
France is currently facing significant political turmoil, which is impacting its economy. With three government shake-ups since last summer, Prime Minister Sebastien Lecornu is striving for stability as he addresses the lower house of Parliament. This situation matters because political instability often leads to economic uncertainty, affecting both businesses and citizens in France.
Javier Milei’s Chaotic Fortune — Power, Politics, and the Price of Rebellion
NeutralFinancial Markets
Javier Milei's rise in Argentine politics has been marked by a blend of chaos and charisma, capturing the attention of both supporters and critics. His unconventional approach and rebellious stance resonate with many who are disillusioned with traditional political norms. This matters because it reflects a growing trend in global politics where populist figures challenge established systems, potentially reshaping the political landscape in Argentina and beyond.
We'll pursue PPE scandal firm 'with everything we've got', says health secretary
NegativeFinancial Markets
The UK government is intensifying its efforts to recover millions paid to a company associated with Baroness Michelle Mone for defective personal protective equipment (PPE) during the COVID pandemic. With a High Court deadline for repayment now passed, the health secretary has stated they will pursue the matter vigorously. This situation highlights the ongoing issues surrounding procurement practices during the pandemic and the importance of accountability in public spending.
Top South African Farm Lobby Seeks Fix for Rural-Road ‘Crisis’
PositiveFinancial Markets
South Africa's largest farming lobby has identified a significant issue with the country's rural roads, describing the situation as a 'crisis.' They are actively collaborating with government organizations to address these challenges and ensure that agricultural goods can continue to be transported efficiently. This initiative is crucial not only for the farmers but also for the overall economy, as it helps maintain the supply chain and supports rural communities.
French Bond Outlook Fraught With Risk as Fiscal Dispute Simmers
NegativeFinancial Markets
The French bond market experienced a brief moment of relief following a breakthrough in the political deadlock, but experts warn that significant fiscal challenges remain. This situation is crucial as it could impact investor confidence and the overall economic stability of France, making it a key issue to watch in the coming months.
Latest from Financial Markets
Best UK Energy Stocks to Buy in 2025: Top Sector Picks & Analyst Insights
PositiveFinancial Markets
As we look ahead to 2025, analysts are highlighting the best energy stocks in the UK that are poised for growth. With the ongoing transition to renewable energy and increasing demand for sustainable solutions, these stocks present exciting investment opportunities. Understanding which companies are leading the charge can help investors make informed decisions and potentially reap significant rewards in a rapidly evolving market.
Bernstein reiterates Market Perform on HP Enterprise stock, citing underwhelming guidance
NegativeFinancial Markets
Bernstein has reiterated a Market Perform rating on HP Enterprise stock, highlighting concerns over the company's underwhelming guidance. This is significant as it reflects analysts' cautious outlook on HP Enterprise's future performance, which could impact investor confidence and stock valuation.
Bernstein SocGen Group lowers Elevance stock price target to $420
NegativeFinancial Markets
Bernstein and SocGen have lowered their price target for Elevance's stock to $420, which raises concerns among investors about the company's future performance. This adjustment reflects a cautious outlook on Elevance's growth prospects, potentially impacting investor confidence and market dynamics.
EU Exports to U.S. Drop Sharply
NegativeFinancial Markets
In August, exports from the European Union to the U.S. saw a significant decline following the agreement on tariffs reached in July. This drop is concerning as it highlights the impact of trade policies on economic relations between the two regions, potentially affecting businesses and consumers alike.
Earnings call transcript: TF Bank Q3 2025 sees earnings beat amid stock dip
PositiveFinancial Markets
TF Bank's Q3 2025 earnings call revealed a surprising earnings beat despite a dip in stock prices. This performance highlights the bank's resilience and effective strategies in a challenging market, making it a noteworthy development for investors and analysts alike.
BNP Paribas discloses 1.5% stake in Dalata Hotel Group
NeutralFinancial Markets
BNP Paribas has announced that it holds a 1.5% stake in Dalata Hotel Group, a significant player in the hospitality sector. This investment highlights BNP Paribas's confidence in the growth potential of Dalata, which operates numerous hotels across Ireland and the UK. Such moves are important as they reflect the bank's strategy to diversify its portfolio and capitalize on the recovery of the travel industry.