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Mandelson-founded firm collapses into administration after clients cut ties

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Mandelson-founded firm collapses into administration after clients cut ties



The advisory firm co-founded by Peter Mandelson has collapsed into administration, in the fallout from the scandal surrounding his historical links to paedophile financier Jeffrey Epstein.

Global Counsel said it had stopped trading and that the majority of its roughly 80 UK staff have been made redundant.

Administrators at Interpath have been appointed for the London-based lobbying business, which said it suffered a significant financial impact from a swathe of customers cutting ties with the firm.

This left directors with no choice but to bring in administrators, it said, despite the firm recently saying that Lord Mandelson no longer had any role or influence over it.

It is reported that Barclays, Tesco and Klarna were among those to recently end contracts, while Vodafone put its one under review, after the so-called Epstein files were released by US authorities.

Will Wright, UK chief executive of Interpath and joint administrator, said: “While Global Counsel had grown over the past 15 years to become one of the UK’s leading public affairs consultancies, the rapid and sudden loss of clients over recent weeks has had a monumental impact on the business.”

Steve Absolom, managing director at Interpath and joint administrator, said: “Our immediate focus is on supporting the talented and loyal UK team of Global Counsel employees who, having collectively built a market-leading business, now sadly find themselves having to be made redundant.”

Administrators said they were considering their options for the business and reviewing its assets.

Earlier this month, Global Counsel said it had cut ties with Lord Mandelson and announced the departure of its boss Benjamin Wegg-Prosser.

It stressed that Lord Mandelson no longer had any shareholding, role or association with the company – and no influence over the firm.

Nevertheless, the business continued to come under pressure from its association to the former politician and US ambassador and the ongoing scrutiny.

Lord Mandelson co-founded the firm with Mr Wegg-Prosser in 2010 after Labour lost the general election.

He stepped down from its board about two years ago.

Mr Wegg-Prosser was previously a political adviser and director of strategic communications under former prime minister Tony Blair, before going on to work as a director at a Russian media firm.

Global Counsel has worked with a roster of clients including Palantir, GSK, Vodafone, OpenAI, TikTok and the English Premier League.

The latest tranche of documents in the Epstein files appear to show Lord Mandelson passing potentially market-sensitive information to the financier in 2009, while he was business secretary in Gordon Brown’s government.

His London and Wiltshire homes have been searched by officers as part of the Metropolitan Police’s probe into alleged misconduct in public office.



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Greggs launches chicken version of sausage and vegan rolls in ‘iconic trilogy’

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Greggs launches chicken version of sausage and vegan rolls in ‘iconic trilogy’



Greggs is launching a chicken version of its customer favourite sausage and vegan rolls in a permanent addition to its menu.

The Chicken Roll – described by the high street baker as “seasoned chicken wrapped in layers of crisp, golden, glazed puff pastry” contains 305 calories and will cost £1.35 when it goes on sale on Thursday.

It follows the Sausage Roll and the pork free Vegan Roll.

To celebrate the final launch of the “trilogy”, Greggs is allowing customers the chance to be among the first to taste the new roll with a 20-minute slot between 3.30pm and 9pm on Wednesday (April 8) at a pop-up location at 15 Bateman Street, in London’s Soho.

Places will be given on a first-come first-served basis but, in a nod to the trilogy theme, guests must arrive as part of a trio of friends or family.

Visitors will be able to pair their three complimentary rolls with a free chicken-themed cocktail or mocktail.

A Greggs spokeswoman said: “They say the best things come in threes, and our iconic roll trilogy is no exception.

“We can’t wait for our customers to experience the Chicken Roll as the ultimate headline act of our flaky franchise.”

Over the past year, Greggs has come under pressure from cautious shoppers affected by the rising cost of living, higher tax and labour costs, and the growing use of weight-loss treatments.

Last month, the Newcastle-based firm reported that statutory pre-tax profits fell by 17.9% to £167.4 million for the year to December 27, compared with a year earlier.

It also told shareholders that total sales grew by 6.8% to £2.15 billion over the year, with like-for-like growth buoyed by its continued store opening programme.

Greggs said it had 121 net store openings in 2025, expanding its shop estate to 2,739 locations by the end of the year.

It is targeting around 120 further openings this year as it highlighted ambitions to grow to “significantly more than 3,000 UK shops over longer term”.



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Wellness brand announces new product range for those on weight-loss jabs

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Wellness brand announces new product range for those on weight-loss jabs


Applied Nutrition is significantly expanding its product range to cater to customers using weight loss drugs, following a substantial increase in demand over the past year.

The health and wellness brand said it has identified a key business opportunity stemming from the sharp rise in Britons using GLP-1 treatments, such as Mounjaro and Wegovy.

The London-listed company, which already offers GLP-1-friendly high-protein ready meals launched in late 2025, confirmed that new products specifically designed for this market will be introduced later this year.

“The GLP-1 user is a growing customer. We see this as a consumer at the start of their weight loss journey who is now looking at how the medication can help them,” Thomas Ryder, founder and chief executive of the Liverpool-based firm, said.

“There is an opportunity, as those customers often need supplements and need smaller portions. I think this is a catalyst for the health and wellness space if we have that consumer in mind.

“We do have a number of products we will bring to market in this area because we do see that area growing.”

A growing number of people are now using weight-loss medication (PA)

At least 1.6 million Britons have used weight loss jabs in the past year, according to research by University College London.

Applied Nutrition has reported strong growth, driven by targeting new customer opportunities and diversifying its sales channels, including expansion into UK retail stores.

In March, the company announced robust financial results, with pre-tax profits soaring by 77.1% to £20.9 million for the six months ending 31 January, compared to the previous year.

Sales also saw a significant uplift, rising by 56.5 per cent to £74.5 million over the same half-year period.

However, the firm cautioned that sales volumes in the Middle East are expected to be affected by the ongoing conflict in the region.

Applied Nutrition said it still expects to meet revenue targets for the year of around £140 million.

The company added: “Importantly, we have managed similar disruption in the past, supported by the agility of our operations.

“In this instance, we are working closely with customers to adapt our routes into the region and logistics arrangements to safeguard continued supply to those customers.”



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Trump administration finalizes better-than-feared Medicare Advantage payment rate in boost to health insurers

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Trump administration finalizes better-than-feared Medicare Advantage payment rate in boost to health insurers


Administrator for the Centers for Medicare & Medicaid Services Mehmet Oz speaks during an event sponsored by the Action for Progress Coalition, at the National Press Club in Washington, D.C., U.S., Feb. 2, 2026.

Al Drago | Reuters

The Trump administration on Monday finalized a 2027 payment rate increase to privately run Medicare plans that was far bigger than initially proposed, a boost to health insurer stocks.

The government will increase average Medicare Advantage payments by 2.48%, or more than $13 billion, in 2027, according to a release from the Centers for Medicare & Medicaid Services. The Trump administration in January proposed a payment rate hike of 0.09%, which pummeled shares of insurers that run those plans.

Shares of UnitedHealth and CVS Health rose more than 9% in after-hours trading on Monday. Meanwhile, Humana‘s stock jumped around 12%.

“Medicare Advantage and Part D should work for the people who rely on them,” said CMS Administrator Dr. Mehmet Oz in a release. “These updates keep coverage affordable and ensure patients get real value from their plans.” 

The closely watched government payment rate determines how much insurers can charge for monthly premiums and plan benefits they offer and, ultimately, their profits.

Medicare Advantage is a privately run health insurance plan contracted by Medicare. More than half of Medicare beneficiaries are enrolled in such plans, enticed by lower monthly premiums and extra benefits not covered by traditional Medicare, according to health policy research firm KFF.

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