Latest news with #LiamByrne
ITV News
5 days ago
- Business
- ITV News
MPs demand proof that P&O Ferries is a viable business
MPs are questioning whether P&O Ferries can stay afloat despite a written assurance from the company that it has enough money to keep trading. Last month, Liam Byrne, chair of the Business and Trade Select Committee, wrote to P&O's chief executive after the company missed a legal deadline to file its accounts and its auditor, KPMG, suddenly resigned. P&O's Ferries Holdings Limited 2023 accounts are now eight months overdue - the third year in a row it has filed late. In a written response, published this morning, the boss of P&O, Peter Hebblethwaite, blamed the delay on 'a period of transformation and restructuring' and said the accounts would be published 'by early July 2025'. He added: 'P&O Ferries is a going concern, with the full backing of DP World' - the Dubai-based, global ports operator that owns P&O. Failure to report accounts on time is a criminal offence and it leaves investors, creditors, suppliers, staff and customers guessing at a company's financial health. Liam Byrne says the committee wants greater proof P&O is a viable business. 'It's good that finally P&O have come clean and said yes, they are a going concern,' Bryne told ITV News. 'But I'm asking for something simple: I want the accounts to prove it and I want the guarantees in writing from their parent company and I want those on the table. Now.' Chair of the Business and Trade Committee, Liam Byrne MP tells ITV News he wants to see P&O Ferries' accounts. P&O Ferries has been heavily loss-making in recent years. In March 2022, the company fired 800 staff in the UK, without notice, and replaced them with cheaper agency workers in order to cut costs and avoid bankruptcy. P&O's accounts for 2022, which were submitted 13 months late, showed the company had borrowed more than £300 million from its parent company, DP World, in order to continue trading. The same accounts showed that P&O was struggling to repay the money it owed and was 'in breach of covenants with respect to its external debt'. MPs are demanding to know exactly how much financial help P&O Ferries is getting from DP World, on what terms and whether the support is enough to keep the business going. They have given the company until 16th June to offer clarity. 'P&O is not being transparent,' says Byrne. 'We are completely open to recalling P&O to give a better account of themselves in front of the House of Commons. This company is too important for it to go wrong. Too much is at stake and, frankly, this saga has been going on for too long.' P&O Ferries declined our request for comment.
Irish Independent
28-05-2025
- Irish Independent
Profile: Who is Sean McGovern, Daniel Kinahan's alleged right-hand man?
The rise of Dublin man Sean McGovern to the upper echelons of the Kinahan organised crime gang came as a surprise to gardaí who dealt with him in his younger years. While he was close to the likes of Liam Byrne and Liam Roe, he wasn't initially considered to be of the same importance; merely just another associate rather than a serious player.
Yahoo
23-05-2025
- Business
- Yahoo
UK MPs to grill ministers over arms exports to Israel
Three ministers responsible for arms exports to Israel have been summoned by parliament's committee overseeing UK exports to explain possible loopholes in the rules. Liam Byrne, the chair of the business select committee has ordered the trade minister, Douglas Alexander, and the relevant ministers from the Foreign Office and Ministry of Defence and to offer urgent explanations. MPs are concerned that arms companies may be using the partial nature of the arms export ban imposed last September by the UK to send weaponry to Israel for use in Gaza, in breach of an undertaking by ministers. In his letter, Byrne raises concerns about statistics published on Friday that showed that in the fourth quarter of 2024 – after Labour's partial arms export ban to Israel was imposed – the UK government nevertheless approved licences for £127.6m of military equipment to Israel. This is greater than the combined total for 2020-23, according to Campaign against the Arms Trade. Challenged on these figures by the independent Labour MP Zarah Sultana in the Commons on Tuesday, the foreign secretary, David Lammy, said he did not recognise the number and accused her of sensationalising the issue. He assured MPs 'arms are not getting to Israel that could be used in Gaza'. However, the latest figures show the government authorised more than £61m in single-issue licences for military goods with an end user in Israel. This included licences for goods categories covering targeting systems, munitions and military aircraft parts. In his letter, Byrne points out that ministers assured MPs that the ban covered 'equipment that we assess is for use in the current conflict in Gaza, such as important components that go into military aircraft, including fighter aircraft, helicopters and drones, as well as items that facilitate ground targeting'. He asks for an explanation for the increase and the proportion of arms going to the Israeli state. In addition, he has asked for the release of statistics on the number of licences that have been changed to remove Israel as the end user. The high court last week conducted a four-day judicial review of the UK government's claim that it was lawful for the UK to sell components for F-35 fighter jets indirectly to Israel even though there was an acknowledged ministerial acceptance that those parts could be transferred for use in planes to bomb Gaza. Meanwhile, Labour MPs and human rights groups welcomed Lammy's hardening in tone concerning the blockade of aid into Gaza on Tuesday, but almost every Labour backbencher who spoke during the 90-minute session expressed anger that ministers had only suspended talks on an expanded free trade deal with Israel, and hinted at further unspecified concrete measures.
Arab News
21-05-2025
- Business
- Arab News
Three British ministers to explain increase in arms exports to Israel despite partial ban
LONDON: The British parliamentary committee overseeing trade is summoning three Labour government ministers responsible for arms exports to Israel to answer questions about loopholes in the rules. In September, the UK government announced a partial ban on arms exports to send munitions to Israel for use in Gaza as the Israeli forces continue their attacks on the Palestinian coastal enclave. British MPs are concerned that arms companies may exploit the partial nature of arms exports to provide weaponry to Israel for use in Gaza, potentially violating a commitment by ministers. Liam Byrne, chair of the Business and Trade Select Committee, has called Trade Minister Douglas Alexander and relevant ministers from the Foreign Office and the Ministry of Defence to answer questions about the arms trade with Israel. He said in a letter that the three ministers should clarify the reasons behind the increase in arms sent to Israel. Additionally, he called for the release of statistics regarding the number of licenses altered to exclude Israel as the end user. He said the ministers assured MPs that the partial ban covered 'equipment that we assess is for use in the current conflict in Gaza, such as important components that go into military aircraft, including fighter aircraft, helicopters and drones, as well as items that facilitate ground targeting.' His decision followed a report from the Campaign Against the Arms Trade, which revealed last week that the UK government approved licenses for £127.6 million ($171.5 million) worth of military equipment to Israel in the fourth quarter of 2024, which occurred despite the Labour government's partial ban on arms exports to Israel imposed in September. The CAAT said that the total is greater than the combined arms exports to Israel for the years 2020 to 2023. On Tuesday, Foreign Secretary David Lammy assured MPs that 'arms are not being delivered to Israel that could be used in Gaza.' However, the government has authorized over £61 million in single-issue licenses for military goods intended for Israel, including targeting systems, munitions, and aircraft parts, according to The Guardian newspaper.
The Guardian
21-05-2025
- Business
- The Guardian
UK MPs to grill ministers over arms exports to Israel
Three ministers responsible for arms exports to Israel have been summoned by parliament's committee overseeing UK exports to explain possible loopholes in the rules. Liam Byrne, the chair of the business select committee has ordered the trade minister, Douglas Alexander, and the relevant ministers from the Foreign Office and Ministry of Defence and to offer urgent explanations. MPs are concerned that arms companies may be using the partial nature of the arms export ban imposed last September by the UK to send weaponry to Israel for use in Gaza, in breach of an undertaking by ministers. In his letter, Byrne raises concerns about statistics published on Friday that showed that in the fourth quarter of 2024 – after Labour's partial arms export ban to Israel was imposed – the UK government nevertheless approved licences for £127.6m of military equipment to Israel. This is greater than the combined total for 2020-23, according to Campaign against the Arms Trade. Challenged on these figures by the independent Labour MP Zarah Sultana in the Commons on Tuesday, the foreign secretary, David Lammy, said he did not recognise the number and accused her of sensationalising the issue. He assured MPs 'arms are not getting to Israel that could be used in Gaza'. However, the latest figures show the government authorised more than £61m in single-issue licences for military goods with an end user in Israel. This includes licences for goods categories covering targeting systems, munitions and military aircraft parts. In his letter Byrne points out that ministers assured MPs that the ban covered 'equipment that we assess is for use in the current conflict in Gaza, such as important components that go into military aircraft, including fighter aircraft, helicopters and drones, as well as items that facilitate ground targeting'. He asks for an explanation for the increase and the proportion of arms going to Israeli state. In addition he has asked for the release of statistics on the number of licences that have been changed to remove Israel as the end user. The high court last week conducted a four-day judicial review of the UK government's claim that it was lawful for the UK to sell components for F-35 fighter jets indirectly to Israel even though there was an acknowledged ministerial acceptance that those parts could be transferred for use in planes to bomb Gaza. Meanwhile, Labour MPs and human rights groups welcomed a hardening in tone from Lammy concerning the blockade of aid into Gaza on Tuesday, but almost every Labour backbencher that spoke during the 90-minute session expressed anger that ministers had only suspended talks on an expanded free trade deal with Israel, and hinted at further unspecified concrete measures.
