Titan Wealth has entered into an agreement to acquire Channel Islands-based Ravenscroft Investments Limited.

The deal takes Titan Wealth’s total assets under management/advice to £27.2bn.

Ravenscroft Investments Limited is a wealth management services business operating in both Guernsey and Jersey.

It provides a wide range of services to clients, including discretionary investment management, fund management and advisory investment services.

The firm employs around 100 staff to manage private and institutional clients and is one of the largest wealth managers in the Channel Islands.

The acquisition is part of Titan Wealth’s attempt to grow its international advice proposition, both organically and through further acquisitions.

Ravenscroft Investments Limited will rebrand as Titan Wealth International next year to provide key operating capabilities offshore.

The business also complements Titan Wealth’s own institutional dealing and wealth platform services in the UK.

Last year, Titan also acquired Ravenscroft’s UK investment management business.

However, the corporate finance and property management businesses of the wider Ravenscroft group are not included in the transaction.

Founder Jon Ravenscroft will remain with the business, which will retain the Ravenscroft name. He will also be a significant shareholder in the Titan Wealth group.

Titan Wealth joint group CEO and head of M&A, Andrew Fearon, said: “The acquisition of Ravenscroft Investments Limited in the Channel Islands is a significant milestone in our strategy to deliver Titan Wealth’s unique client to custody offering to clients and advisers in multiple international jurisdictions.

“Closely following our acquisition of Dubai-based planning firm AHR, we have now made significant progress in expanding our differentiated and integrated proposition for international clients and advisers.

“With investment management and investment funds in both Ireland and the Channel Islands, offshore platform and custody solutions in the Channel Islands and the ability to provide financial advice in both the UAE and Europe and other jurisdictions, we can service our clients wherever they may choose to live.”

Ravenscroft MD of operations, Robin Newbould, added: “The time is now right for Ravenscroft’s wealth management business to become part of a bigger company and have a strategic role in its future expansion.

“Titan Wealth was impressed with the skills and expertise of our team and its commitment to clients and it is exciting for the Channel Islands that we will become the hub for Titan’s international growth.”

A CARIBBEAN-themed indoor waterpark is just a few hours from the UK – and is a tropical 29C all year round.

Aqualibi in Belgium is part of the Walibi theme park.

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Inside is a huge wave swimming pool, with ‘four different levels of waves’.

There is also the relaxation pool is more low-key as well as the 36C lagoon pool, both with whirlpools and hot tubs although kids under 3 are not allowed in the lagoon pool.

And surrounding the pools are 10 slides to choose from, four of which are new.

The newest are Pomakai which is a ‘hard level’ slide with two-person rings that go up to 31mph, and Banzai, a medium level, two-person water rollercoaster.

Wiki Wiki is a side-by-side mat race that travels 147m and the easiest Waikiki is an 18m high slide.

Other slides include the Rapido, Flash, Surf and Xtreme, as well as Jet and Bi-Bob

And little kids can enjoy the Kiddie Bay or Mini Beach with splash fountains and smaller slides.

You don’t need to leave for snacks or gifts either.

Palm Beach, just steps from the pool, is a serving burgers, snacks and ice cream.

And the Aqualibi gift shop sells everything from swimming gear to toys and snow globes.

Previous swimmers have raved about it as being a “great family day out”.

One person even said: “This is the best indoor waterpark I have ever been to!”

A second agreed, saying: “Best waterpark we’ve ever visited — hands down!”

There are some strict rules on what you can wear in the pool – the website states: “Bermudas, shorts, strings, tangas, pareos en surfer’s wetsuits are not allowed in Aqualibi.”

What is allowed are “bathing briefs, bathing boxer shorts, bikinis, the one-piece swimsuit, lycra swimming costumes reaching down to just below the knees and the elbows”.

Tickets are as little as €13.50 for guests between 1m and 1.2m, while taller guests are €35

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It is open all year round from 10am to 8pm, with themed events including the current “Aqua-lloween” with “pirate-haunted river” and Bloody Burgers at the restaurant, along with face painting and closing parties.

Visit on Fridays and Saturdays for late night openings until 10pm.

If you don’t fancy flying, you can get to the waterpark by train.

Brits can hop on the Eurostar at London St Pancras, which goes directly to Brussels.

The waterpark is then an hour by train from the city.

Or you can fly to Brussels from the UK, which takes just over an hour when flying from London.

Earlier this year, a n ew £48million indoor waterpark opened in France, with Europe’s “only aquatic cinema”.

Five new water attractions opening in the UK

1. Therme Manchester will have 25 swimming pools, 25 water slides and an indoor beach.
2. Modern Surf Manchester will be a surfing lagoon offering lessons to both beginners and experts.
3. Chessington World of Adventures Waterpark is set to have wave, infinity and spa pools as well as waterslides and cabanas.
4. The Cove Resort, Southport is likely to have a water lagoon and a thermal spa with steam rooms and saunas.
5. The Seahive, Deal plans to be the “surfing wellness resort” in the UK.

Futuroscope also has a futuristic lazy river, eight water slides and smaller zones for kids.

If you don’t want to leave the UK, here’s how to find the country’s biggest indoor waterpark which also has tropical weather all year round.

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The Supreme Court of India overturning the order of the National Company Law Appellate Tribunal (NCLAT) to halt insolvency proceedings against Byju’s is expected to bring in further challenges for the edutech major.

The company will now have to find a way to pay the overdue payments. On Wednesday, a Supreme Court bench, led by Chief Justice DY Chandrachud, rejected the NCLAT’s decision to approve the company’s Rs 158.9-crore dues settlement with the Board of Control for Cricket in India (BCCI).

The Supreme Court had ordered Byju’s to deposit the Rs 158-crore settlement sum agreed upon with the BCCI into an escrow account managed by the Committee of Creditors (CoC). This directive is consistent with the court’s September 26 order, which instructed the interim resolution professional (IRP) to maintain the status quo and refrain from convening CoC meetings until the judgment was delivered.

“Companies in such a situation have to keep up the focus on operations and particularly the cash-generating flywheels. This starts a virtuous cycle of investments. It calls for tremendous resilience and passion to come out of such a scenario,” said Aditya Narayan Mishra, the MD and CEO of CIEL HR.

ALSO READ: Byju’s Drama: Supreme Court strikes down NCLT order, reviving edutech firm’s woes in BCCI-led insolvency proceedings

The court had emphasised that, while Byju’s and the BCCI might pursue their settlement, they must do so under the tight supervision of the IRP and CoC, following the procedures prescribed in the Insolvency and Bankruptcy Code (IBC). The Supreme Court’s decision followed an appeal by US firm Glas Trust Company LLC against the NCLAT’s verdict. The Bench has now issued a new decision in the matter, stating that the tribunal did not apply its mind when halting the insolvency proceedings against the edutech firm.

“The SC order is a watershed event amid Byju’s financial problems, effectively handing over control of the company from founder Byju Raveendran to its creditors. The verdict is good news for Glas Trust Co. LLC, a financial creditor which challenged the NCLAT’s earlier order halting the insolvency process, alleging that the money was illegal and syphoned off from them, and moved the Supreme Court,” remarked space and aerospace expert Girish Linganna who also tracks the edutech space.

ALSO READ: Byju’s troubles far from over; over 6,000 current and former employees get I-T notice for ‘unpaid’ TDS

There is no doubt that the company has fallen in stature from a unicorn achieving USD 22 billion valuation (around Rs 2000 crore) to experiencing a significant drop. The company is straddled with huge demands of outstanding statutory dues while continuing to fight debt repayments and poor investor perception. While its fight against insolvency and claims is going to take some time, Byjus should address the complaints against statutory dues and ensure its current or former employees do not face any harassment from government authorities.

In the recent past, the Income Tax Department issued demand notices for unpaid Tax Deducted at Source (TDS) to over 6,000 current and former employees of Byju’s, with dues amounting to about Rs 848 crore. Mounting troubles may not be good for the company, and it will further add to a lack of customer and investor confidence. 

SHOPPERS have been left bewildered after M&S axed a key delivery service ahead of Christmas.

Eagle-eyed customers have spotted that you can no longer buy cases of wine from the upmarket grocer’s website.

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Curious fans of the service took to X, formally known as Twitter, to find out why they could no longer purchase cases of wine from its online store.

One said: “@marksandspencer Are they not selling cases of wine online anymore, I can’t find any?”.

Previously, households could order cases of six or 12 bottles of wine and get them dropped off at their house.

The retailer stocked a range of different flavours and ranges including, packs of entirely white, red or a mixed selection.

Customers loved the service, with one describing it as “absolutely fabulous” and “such a good buy”.

In reviews left on the M&S website shoppers also shared how the large selection of wine was great to order over Christmas and the festive season.

One user wrote: “Delicious, well worth the money. Ideal for Christmas dinner table.”

While another said: “Really nice wine, great value. I bought it to give out as Christmas gifts and tried a bottle.”

However, shoppers will no longer be able to purchase the cases from the retailer’s website anymore.

M&S has confirmed to The Sun that the option has been axed.

Representatives for the retailer said: “Cases of wine are no longer available on the M&S website; we do have a brand-new selection of drinks gifting online for customers sending to loved ones.  

“For those looking to order wine online, please check out our offer on Ocado. When shopping in-store customers will also have a buy four save 10% offer”.

The Percy-Pig maker owns 50% of Ocado retail and uses the online grocery store to sell its food items online.

It then has a separate website, M&S.com. where customers can shop for clothing, makeup and homeware.

On the Ocado website, customers will have to add six bottles individually, they can not be purchased as a case.

The price will still be the same as what M&S charged for a case, so if you bought six bottles of a £7.50 wine it will cost £45.

If you would prefer to shop in person you can head to your nearest M&S and buy a case of wine at one of its stores.

You can find the closest one to you by visiting https://marksandspencer.com/s/communications/MSResStoreFinderGlobalBaseCmd.

It is not unusual for M&S to switch up its product ranges.

Last week, The Sun revealed its vegan range was undergoing a major revamp, which would see meat alternatives sold alongside traditional meat products.

As part of the change, products such as the Plant Kitchen Margherita Sourdough Pizza will not return to stores until January.

This has not impressed some customers with one describing it as a “terrible” idea in a Reddit post.

Earlier this year the store said it would axe some of the treats from its Colin and Connie sweet range as part of a product relaunch.

Over the summer, M&S scrapped its Colin and Connie “Together Forever” sweets.

M&S also confirmed that it is quietly axing the Colin The Caterpillar Fizzy Rainbow sweets.

The sweets were rainbow in colour with a sour sugary coating.

The retail also quietly axed its beloved pre-mixed cans of Pink Gin and Tonic, leaving customers devasted.

What else is new at M&S?

Thankfully, it is not all doom and gloom for M&S shoppers as the retailer confirmed it will bring back an iconic drink this Christmas.

The supermarket’s original snow globe gin liqueur will make a return for the holidays after a hiatus.

Previously, the gin came in two flavours – Clementine and Spiced Sugar Plum – but this year, only the Clementine one will be sold.

The store has started rolling out its entire Christmas range to shoppers, which includes hot honey over halloumi in blankets brie brulee, and Turkey Feast dip.

M&S’s food-to-order range for the holidays is also now open for online orders and collection between December 22 and December 24.

Why are products axed or recipes changed?

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ANALYSIS by chief consumer reporter James Flanders.

Food and drinks makers have been known to tweak their recipes or axe items altogether.

They often say that this is down to the changing tastes of customers.

There are several reasons why this could be done.

For example, government regulation, like the “sugar tax,” forces firms to change their recipes.

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Some manufacturers might choose to tweak ingredients to cut costs.

They may opt for a cheaper alternative, especially when costs are rising to keep prices stable.

For example, Tango Cherry disappeared from shelves in 2018.

It has recently returned after six years away but as a sugar-free version.

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Fanta removed sweetener from its sugar-free alternative earlier this year.

Suntory tweaked the flavour of its flagship Lucozade Original and Orange energy drinks.

While the amount of sugar in every bottle remains unchanged, the supplier swapped out the sweetener aspartame for sucralose.

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Fries with your burger? Please. Extra cheese? Sure. E. coli? Errr, hard pass. 

Heading into this week, McDonald’s main problem was winning back cash-strapped customers and convincing them that its restaurants still offer plenty of value for money. Now it has to reassure them that its food is safe to eat as well.

An E. coli outbreak in the US linked to the company’s popular Quarter Pounder hamburger had led to one death and made at least 49 people sick across 10 states, food safety officials said.

The news and the $11.5bn one-day drop in McDonald’s market value naturally bring to mind Chipotle Mexican Grill and its years-long battle with its own food safety crisis. Those outbreaks affected more than 1,100 people in the US between 2015 and 2018 and ultimately cost the then chief executive his job. The stock lost two-thirds of its value during the period. Chipotle had to pay a $25mn fine to resolve criminal charges that it served customers tainted food. It also took years for the company to win back customers.

Chipotle’s problems were complicated. It was not just one type of foodborne illness at one particular store. It was multiple ones — norovirus, salmonella and E. coli — at different times and across many different states.

It is still early days. But there are reasons to think the outbreak at McDonald’s could end up being more contained. Health officials suspect the slivered onions or beef patties used in the Quarter Pounders could be the source of the outbreak. McDonald’s said the onions came from a single supplier and were processed at a single facility. This means if onion was the culprit then the remedy should be relatively straightforward.

McDonald’s has also been quick to respond to the crisis. The fast-food chain has already removed the Quarter Pounder from menus in all or part of a dozen Midwestern or mountain states. As soon as it can, it needs to explain what happened, what action was taken in response and what changes it will make to ensure a similar outbreak does not occur again.

The risk is that none of that may matter. Inflation-weary diners who were slowly being lured back by the chain’s $5 meal deals are likely to think twice before eating at the Golden Arches again. Like-for-like sales in the US — down 0.7 per cent in the second quarter — will struggle in the short term. McDonald’s shares, having rallied by more than a fifth since the summer to touch a new high this month, are still trading on 25 times forward earnings, in line with its five-year average. There is little in the way of upside on the menu.

pan.yuk@ft.com