Tag: Money
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Premiership Rugby rivals and CVC to fund Newcastle Falcons loan | Money News
Read Latest News English rugby union’s top teams and the sport’s private equity backer are in advanced talks to fund a multimillion pound loan to Newcastle Falcons to help it meet financial criteria allowing it to play next season. Sky News has learnt that the nine other Gallagher Premiership Rugby sides, which include current league…
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Howden US takeover to pave way for $30bn stock market float | Money News
Read Latest News Howden, the British insurance broker, is closing in on a $10bn (£7.7bn) takeover of a US-based rival that will pave the way for an eventual stock market flotation that could value it at in excess of $30bn. (£23.2bn) Sky News has learnt that Howden is targeting a binding agreement to acquire Risk…
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UK government ‘blinded’ by money worries when it cut fuel payment, court told | UK News
Read Latest News The UK government was “blinded” by financial imperatives when it cut the winter fuel payment without due consideration of the impact on vulnerable people, a court has heard. Pensioners Peter and Florence Fanning are taking legal action against the decision to remove the universal element of the benefit. The change was announced…
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Trump trade war: Tesla warns of ‘disproportionate’ tariff impact | Money News
Read Latest News Tesla, run by Donald Trump cheerleader Elon Musk, has warned US officials it risks being exposed to “disproportionate” retaliatory tariffs under the president’s escalating trade war. The electric carmaker raised the issue in a letter to the US Trade Representative’s (USTR’s) Office on the same day Mr Trump bought a Tesla car…
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Why the economy is not yet listening to the chancellor’s battle cry | Money News
Read Latest News Since the turn of the year the chancellor Rachel Reeves has had a single priority, repeated loud and clear at every opportunity; growth. It was a battle cry repeated from Beijing to Cape Town via Davos and repeatedly at home but, judging by figures for January, the economy is not yet listening.…
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Economy finds reverse gear in January with surprise contraction | Money News
Read Latest News The UK economy shrank at the start of 2025, according to official figures which had been expected to show further meagre growth. The Office for National Statistics (ONS) said that output declined by 0.1% during the month following the 0.4% growth seen in December. A growth figure of 0.1% had been tipped…
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Over-70s now more likely to pay income tax than those under 30 | Money News
Read Latest News More retired baby boomers are paying income tax than Gen Z workers, new data from HMRC shows. It is a significant shift since the pre-COVID period. Some 5.45 million Britons aged over 70 paid income tax in the 2022-23 financial year (the latest figures we have), compared with 5.23 million aged under…
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‘I wish they realised’: Top chef reveals the one thing customers should know about their bill | Money News
Read Latest News Every Thursday we interview chefs from around the UK, hearing about their cheap food hacks and more. Today we chat to Nick Beardshaw, chef patron at Starling in Esher, Surrey. I wish people realised… VAT is included in the menu price. When you pay £12 for a starter, the restaurant only receives…
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Trump threatens EU with 200% tariffs on alcohol – including wine and champagne | Money News
Read Latest News Donald Trump has warned the European Union he will impose a 200% tariff on its alcohol – including wine and champagne – if the bloc imposes duties on US whiskey. The US president used a social media post to issue his latest threat to the EU, having previously warned that it was…
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Royal London closes in on £130m purchase of ‘Super-Sewer’ investor | Money News
Read Latest News One of Britain’s leading financial mutuals has entered exclusive talks to buy Dalmore Capital, the infrastructure investor which owns a stake in London’s new ‘super sewer’. Sky News has learnt that Royal London is now the leading contender to acquire Dalmore, which has roughly £6bn in assets under management. The structure of…
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John Lewis Partnership profits leap but no bonus for third consecutive year | Money News
Read Latest News The John Lewis Partnership (JLP) has revealed a 73% rise in annual profits but says staff will receive no bonus for the third year in a row. The employee-owned business, behind John Lewis department stores and Waitrose supermarkets, said earnings over the 12 months to January came in at £97m – up…
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WH Smith bidder Modella mulls Hobbycraft restructuring | Money News
Read Latest News One of the two remaining bidders for WH Smith’s high street empire is exploring a restructuring of Hobbycraft, the crafts chain it bought just seven months ago. Sky News has learnt that Modella Capital has drafted in advisers from FRP, the professional services firm, to examine potential options including a company voluntary…
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Treasury’s Value for Money body targets asylum accommodation
Read Latest News Treasury advisers tasked with finding government waste have identified spending on accommodation for people such as asylum seekers as their top priority. The Office for Value for Money (OVfM), which has 15 members of staff and reports directly to the chancellor, was launched in October. But a Treasury response to a BBC…
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Trade war: It may be harder for the UK to trump metals tariffs this time round | Money News
Read Latest News There was no last minute reprieve. Despite a last ditch phone call to the White House, Keir Starmer was not able to secure concessions for the UK as Donald Trump imposed a 25% tariff on all aluminium and steel coming into the country. The British government has not given up hope. Today,…
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Trump trade war expands globally as 25% tariffs on aluminium and steel take effect | Money News
Read Latest News Donald Trump’s trade war has expanded to cover the world, with 25% tariffs on all steel and aluminium imports to the US in effect from today, affecting UK products worth hundreds of millions of pounds. The duties were announced in mid-February as stock market investors cheered President Trump‘s ‘America first’ agenda which…
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No more tax returns for side hustlers selling clothes on Vinted or making money from TikTok | Politics News
Read Latest News Up to 300,000 people with side hustles selling clothes on Vinted and eBay or making money from TikTok will no longer have to report their income to HMRC. The threshold for having to file a self-assessment tax return for trading income will be lifted from £1,000 to £3,000 by the next election,…
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Saudis strike deal with Olympics hero Mills’ sports group | Money News
Read Latest News Saudi Arabia’s attempts to exert a stranglehold on elite global sports is to expand in the form of a new joint venture with the consultancy founded by Sir Keith Mills, the architect of London’s bid to host the 2012 Olympic Games. Sky News has learnt that Sela, which has gained international prominence…
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CVC-backed M Group in talks to buy utility services rival Telent for £270m | Money News
Read Latest News An infrastructure services provider backed by one of the world’s biggest buyout firms is in advanced talks to buy rival Telent for about £270m. Sky News has learnt that M Group Services, which was acquired by CVC Capital Partners last year, is in exclusive negotiations to buy its smaller peer. Once part…
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Digital therapeutics group Strolll lands tonic of £10m funding boost | Money News
Read Latest News A digital therapeutics start-up which uses augmented reality (AR) glasses to aid people suffering from disorders including Parkinson’s disease and multiple sclerosis will this week announce a £10m funding injection. Sky News understands that Strolll, which was founded five years ago, has secured the new capital in a round led by IW…
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Nationwide customers to get £50 each after Virgin Money deal
Read Latest News More than 12 million customers of Nationwide will each receive a payment of £50 following the takeover of Virgin Money. The Nationwide, the UK’s largest building society, described the money as a “thank you” to its members, at a cost of £600m. However, there was criticism that the same members were not…
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Boohoo draws line through past with Debenhams rebrand | Money News
Read Latest News Boohoo, the struggling online fashion retailer, has renamed itself Debenhams Group. The company, which has been locked in a battle with its largest shareholder Mike Ashley’s Frasers Group over direction and performance, announced a strategic review last year after the departure of chief executive John Lyttle. His successor Dan Finley said on…
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Major UK recruiters linked to tax avoidance schemes after workers hit with crippling HMRC demands | Money News
Read Latest News Hays, Capita, Petrofac. These are some of Britain’s best known companies and big players in the recruitment industry. Now, a Sky News investigation has revealed how, over the course of two decades, some of Britain’s biggest recruitment companies were linked to large-scale tax avoidance when placing workers into jobs, including government roles…
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Uncertainty index spikes amid on/off confusion over Trump tariffs | Money News
Read Latest News If you’re already feeling overwhelmed by the sheer amount of news to ingest on Donald Trump’s tariffs plans in recent weeks, well, you’re not alone. One measure of “policy uncertainty”, which measures how much certain issues are dominating news coverage, shows that the uncertainty levels over trade are currently higher than they’ve…
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US shares drop sharply after Trump refuses to rule out recession | Money News
Read Latest News US shares fell sharply again on Monday amid uncertainty in the American economy, with President Donald Trump refusing to rule out a recession. Tesla shares plunged by at least 15% to $222 – meaning it has lost more than half its value since its peak at $479.86 on 17 December. The Nasdaq…
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Tesla’s share price losing streak – Is Musk’s Trump role distracting him from his day job of running EV maker? | Money News
Read Latest News Amid the market volatility sparked by Donald Trump’s on-off tariff plans, during which the benchmark S&P 500 index fell by 3.1% last week and the Nasdaq entered ‘correction’ territory, no stock has been more badly hit than Tesla. Shares of Elon Musk’s electric vehicle maker have fallen for seven straight weeks, the…
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London set to miss out on €20bn float of security group Verisure | Money News
Read Latest News The owners of Verisure, a provider of domestic alarm systems, are leaning towards a €20bn (£16.7bn) flotation in Amsterdam – a decision that would deliver another blow to London’s hopes of capitalising on a revival in the market for major initial public offerings (IPOs). Sky News has learnt that Euronext Amsterdam is…
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Trump dodges recession question as trade war implications dominate markets | Money News
Read Latest News Donald Trump has not ruled out a recession in the United States this year, saying the world’s largest economy is in “transition” through his trade war. Financial markets have been spooked by the implications of his early trade fights involving the country’s nearest partners Canada and Mexico through on-off tariffs of up…
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Kantar owners plot £5bn sale of Worldpanel data division | Money News
Read Latest News The owners of Kantar Group, the global market research firm, are to explore a £5bn-plus sale of the division which supplies closely-watched data on the performance of Britain’s supermarkets. Sky News has learnt that Kantar’s Worldpanel arm could be put up for sale later this year. The move, which has yet to…
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Two-way shootout looms for WH Smith high street chain | Money News
Read Latest News A two-way shootout for WH Smith’s high street chain will take place this spring as the 233-year-old retailer’s brand prepares to disappear from towns across Britain. Sky News has learnt that Alteri and Modella Capital, both of which specialise in buying troubled retailers, are now the only two remaining parties in talks…
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Football chiefs in secret summit to revive landmark financial deal | Money News
Read Latest News The bosses of the Premier League and English Football League (EFL) have held secret talks aimed at reviving an industry-wide deal ahead of the launch of the government’s new football watchdog. Sky News has learnt that Richard Masters, the Premier League chief executive, his EFL counterpart, Trevor Birch, and executives from clubs…
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Four sentenced over ‘eye-watering’ £200m money laundering plot
Read Latest News West Yorkshire Police Gregory Frankel (top left), Daniel Rawson (top right), Arjun Babber (bottom left) and Haroon Rashid (bottom right) were all found guilty Four men have been sentenced for their roles in a £200m money laundering plot described as one of the biggest of its kind in UK legal history. Gregory…
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‘Trump bump’ turns to a Trump slump – and there could be further tests ahead with tariffs on Europe | Money News
Read Latest News Fuelled by expectations of a Wall Street-friendly policy platform, a “Trump bump” pushed the S&P 500 up 2.5% by the time the ticker tape had been cleared. The rally continued after his inauguration, with the index peaking 6.3% higher by mid-February. Since then, however, a “Trump slump” has sent markets crashing back…
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Barclays and Brookfield close to £650m UK payments deal | Money News
Read Latest News Barclays is closing in on a £650m deal to offload control of its UK payments business to the Canadian investment giant Brookfield Asset Management after months of negotiations. Sky News has learnt that the two companies are in the final stages of talks about a transaction that will initially see Brookfield acquiring…
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PizzaExpress shareholders to inject fresh dough into chain | Money News
Read Latest News Shareholders in PizzaExpress are preparing to inject tens of millions of pounds into its parent company to help secure a refinancing of its debt amid tough trading in Britain’s casual dining sector. Sky News understands that Bain Capital Special Situations, which is understood to be the largest shareholder in Wheel Topco, is…
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Walgreens Boots Alliance sold to private equity firm Sycamore Partners | Money News
Read Latest News The owner of high-street pharmacy chain Boots is being bought by a private equity firm, and it will no longer be a public company listed on a stock exchange. Walgreens Boots Alliance had agreed to a $23.7bn (£18.37bn) deal with private equity firm Sycamore Partners, as first reported by Sky News. It…
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Trump agrees further tariff concessions but April threat remains | Money News
Read Latest News Donald Trump has announced that most goods imported from Mexico are to be exempt from his trade tariff regime for at least four weeks, just days after the charges were imposed. He confirmed the move following a phone call with his Mexican counterpart and, according to his commerce secretary, was due to…
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Poundland up for sale as budget tax hike looms | Money News
Read Latest News Poundland, the discount retail chain, appears on course to be sold as its owner rues an “increasingly challenging” retail landscape in the UK. Poland-based Pepco Group said on Wednesday that it was examining all options for the 825-strong chain, including a sale. But the company later told the Reuters news agency that…
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Stamp duty rules are changing from April – here’s what you need to know | Money News
Read Latest News From 1 April, changes will be made to stamp duty, meaning more first-time buyers will be forced to pay it and other home movers face a higher bill. So what is it, what’s changing and what impact will it have? Here’s everything you need to know. Read all the latest Money news…
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Chef reveals why you should never throw away citrus peel | Money News
Read Latest News Every Thursday we interview chefs from around the UK, hearing about their cheap food hacks and more. Today we chat to chef Diego Jacquet, patron and chef at Zoilo and the Florencio pizzeria in London. My pet hate in restaurants is… when kitchen staff don’t say “backs” or “behind” when passing by…
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Millions in compensation for customers impacted by Barclays outages | Money News
Read Latest News Barclays is to pay millions in compensation for recent IT outages which prevented customers from banking. The lender said it expects to pay between £5m and £7.5m in compensation to customers for “inconvenience or distress” caused by a payday outage last month, the influential Treasury Committee of MPs said. The glitch began…
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Trump moves to exclude carmakers from tariff pain | Money News
Read Latest News Donald Trump is to exclude carmakers across North America from the pain of tariffs levelled against Mexico and Canada ,following apparent pressure from motor bosses. The White House confirmed the concession was taken after the president spoke to the bosses of Ford, General Motors and Stellantis. There will be an exemption of…
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Hong Kong firms sells major Panama Canal ports to US firm after Trump pressure | Money News
Read Latest News Two major Panama Canal ports have been sold from their Hong Kong owner to a consortium including American multinational investment company BlackRock. It comes after US President Donald Trump expressed a desire for America to “take back” the key shipping lane from alleged Chinese control. Hong Kong-based logistics giant CK Hutchison Holdings…
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Post Office chair warns postmasters on pay uplift amid Whitehall funding talks | Money News
Read Latest News The chairman of the Post Office has warned postmasters that the state-owned company faces a fight to deliver a previously pledged pay uplift this year amid protracted government funding talks. Sky News has learnt that Nigel Railton, who was parachuted into the role last year, told thousands of Post Office managers this…
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Trump admits tariffs ‘disturbance’ as China says it is ‘ready for any type of war’ with US | Money News
Read Latest News Donald Trump has admitted his tariffs on major trading partners will cause “a little disturbance” – as China said it was “ready” for “any type of war” with the US. The US president made his comments in an address to Congress, hours after the levies on imports came into effect. Producers in…
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‘Money dysmorphia’ searches are rocketing – here are telltale signs you have it | Money News
Read Latest News Searches for “money dysmorphia” have soared in the past year – climbing 136%. But what is it? Why are people concerned about it? And is there a chance you suffer from it? The term is used to describe a disconnect between someone’s financial reality and their perception of how wealthy they are.…
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Trump may have talked America into recession before a trade tariff was even imposed | Money News
Read Latest News This is an incredibly fast-moving story, to the extent that by the time you read this, the latest decision or news on tariffs between the US and its North American neighbours (not to mention China) will have shifted on. So perhaps the best thing we can do here is to give you…
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Ares and Farallon to take control of builders merchant IBMG | Money News
Read Latest News Lenders to one of Britain’s biggest networks of builders’ merchants are angling to take control of the company amid talks with its private equity backer over new funding requirements. Sky News has learnt that Ares Management Corporation and Farallon Capital Europe, two major investment firms, could move to take ownership of Independent…
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Sick pay boost for 1.3 million lowest-paid workers | Money News
Read Latest News Around 1.3 million people on low wages are to secure guaranteed sick pay for the first time in a bid to boost health and living standards, the government has announced. Those earning less than £123 a week on average will be entitled to a sick pay equivalent of 80% of their weekly…
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Ex-Barclays boss Staley fights for reputation over Jeffrey Epstein links | Money News
Read Latest News Former Barclays boss Jes Staley has begun a legal bid to overturn a ban from the UK’s financial services industry, related to his links to the disgraced financier Jeffrey Epstein. The Financial Conduct Authority (FCA) proposed the leadership ban in 2023, alongside a £1.8m fine, finding that Mr Staley had made misleading…
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Arms firms across Europe worth billions more amid talk of Ukraine defence pact | Money News
Read Latest News Weapons companies’ share prices surged across Europe and the UK’s benchmark stock index reached a record high amid talks of increased defence spending. The FTSE 100 index of the most valuable companies on the London Stock Exchange hit a level never seen before as arms maker BAE Systems saw its share price…
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CVC serves up $1bn bid for IMG-owned tennis tournaments | Money News
Read Latest News CVC Capital Partners, the buyout giant, is serving up a $1bn (£790m) bid to buy a portfolio of tennis assets which includes two of the sport’s most prestigious annual tournaments. Sky News has learnt that CVC is among the remaining bidders for the Miami Open and Madrid Open, both of which feature…
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Crypto prices rally after Trump names Bitcoin and others for US strategic reserve | Money News
Read Latest News Cryptocurrency prices have jumped after Donald Trump revealed he would like Bitcoin and other lesser-traded tokens to be in a new US strategic crypto reserve. He said his January executive order on digital assets would create a stockpile of currencies including Bitcoin, Ethereum, XRP, Solana and Cardano (ADA). The names had not…
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Owner of UKFast cloud hosting firm plots £400m sale | Money News
Read Latest News The private equity backer of the technology company previously known as UK Fast is exploring a sale that it hopes will fetch a £400m price tag. Sky News has learnt that Inflexion, the buyout firm, has hired investment bankers to orchestrate a sale of ANS, which provides cloud hosting services to corporate…
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Ex-Villa chief Purslow among contenders to chair football watchdog | Money News
Read Latest News A former chief executive of Aston Villa and Liverpool is a surprise contender to become the inaugural chairman of the government’s controversial football watchdog. Sky News can exclusively reveal that Christian Purslow, who left Villa Park in 2023, is on a three-person shortlist being considered by Whitehall officials to chair the Independent…
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CityFibre shareholders to inject £500m in refinancing deal | Money News
Read Latest News Shareholders in CityFibre Holdings are in talks to inject hundreds of millions of pounds into the UK’s largest independent broadband infrastructure network as part of a refinancing that would provide it with a fresh warchest for acquisitions. Sky News has learnt that equity investors in the company, which include the Abu Dhabi…
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Kick It Out chair Bhandari shortlisted to head new football regulator | Money News
Read Latest News The chairman of Kick It Out, the football anti-racism charity, has been shortlisted to become the first head of Britain’s proposed new Independent Football Regulator (IFR). Sky News has learnt that Sanjay Bhandari is among three remaining candidates being considered by the government to chair the watchdog. A decision is expected in…
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Banks ‘investing heavily’ in digital platforms as payday glitch chaos strikes again | Money News
Read Latest News The banking sector is “investing heavily” in digital platforms, according to the body which represents the country’s lenders as many face a backlash over the latest payday glitch chaos to hit customers. Millions were exposed on Friday to varying challenges from slow app or online banking performance to being blocked out of…
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Trump’s China tariff escalation spooks global markets | Money News
Read Latest News Donald Trump’s threats of additional trade tariffs against China, on top of the 10% hike imposed earlier this month, have contributed to a widespread stock market sell-off. Sentiment was already sour on the tariff front, given the spectre of 25% import duties being slapped on the EU, before the US president confirmed…
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Chef reveals his pet hate from customers and cheaper olive oil substitute | Money News
Read Latest News Every Thursday we interview chefs from around the UK, hearing about their cheap food hacks and more. Today we chat to chef Alex Navarro from Maray in Liverpool. My chef hero is…not a famous chef but my own dad, who is a very good cook, and also my father-in-law, who is Sicilian…
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Paul Flowers: Disgraced former Co-op Bank boss jailed for three years for fraud | Money News
Read Latest News The disgraced former chair of the Co-op Bank, Paul Flowers, has been jailed for three years on fraud charges. The 74-year old, who was forced out of the lender in 2013 amid claims of inappropriate expenses and illegal drugs allegations, admitted 18 counts of fraud worth nearly £100,000. Flowers, also a former…
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Ex-Manchester United chief Woodward pitched Eagle Football role | Money News
Read Latest News Ed Woodward, the former Manchester United chief, has been approached about joining the vehicle which owns stakes in clubs including Crystal Palace and Olympique Lyonnais. Sky News has learnt that Mr Woodward, who left Old Trafford in 2022, a year after United’s involvement in the ill-fated European Super League project, is being…
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Nvidia signals strong AI chip demand despite DeepSeek threat | Money News
Read Latest News Nvidia has signalled no drop in demand for its flagship chips among big artificial intelligence (AI) spenders despite the low-cost challenge posed by Chinese rival DeepSeek. The leading AI chipmaker said it expected Blackwell sales to continue to grow after its latest earnings beat market expectations. Nvidia forecast revenue of around $43bn…
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Five years on from BP’s ambitious pledge, the climate has changed in every sense | Money News
Read Latest News Five years ago, BP’s chief executive did something very unusual for the boss of an oil and gas company – he pledged to produce less oil and gas. Standing in front of the slogan “reimagine”, scrawled freehand and lowercase in a shade of green, Bernard Looney, the lean and charismatic then-leader of…
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BP’s job is to make money, not set climate policy
Read Latest News It was more than 20 years ago that the then boss of BP reframed those famous initials as “Beyond Petroleum”. It was the first tentative step in transforming the company from an oil and gas producer to an energy provider investing an increasing amount of its fossil fuel profits into greener technology.…
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Heathrow in talks with airlines about terminal shake-up | Money News
Read Latest News Heathrow Airport is in talks with scores of airlines including British Airways about a once-a-decade overhaul of its occupancy – which could lead to some being forced to relocate their long-standing bases. Sky News has learnt that Heathrow has opened negotiations with the 82 carriers which fly from the airport with a…
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BP slashes renewables investment and boosts fossil fuel production | Money News
Read Latest News Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3.95bn) a year to just $1bn to $2bn (£790m to £1.58bn). Funding…
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BP slashes renewable investment increasing oil and gas production despite pace of global warming | Money News
Read Latest News Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3.95bn) a year to just $1b to 2bn ( £790m to £1.58bn).…
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Britain’s shrinking families: An economic ‘timebomb’ | Money News
Read Latest News Higher taxes, smaller pensions, weaker public services, an older retirement age and more potholes – it sounds like the manifesto of a party without a chance of making it to office. But as Britons have fewer and fewer children, these are economic policies they’re unwittingly voting for, according to experts. “If we’re…
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UK energy bills highest in Europe and public patience is wearing thin | Money News
Read Latest News The possibility of a peace deal between Russia and Ukraine has caused wholesale energy bills to fall in recent weeks but household bills will still be going up from April. Consumers will be paying for the winter months. Europe endured a cold and still winter, meaning demand for energy increased while countries…
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Lord’s tenant Middlesex County Cricket Club eyes end to mutual ownership | Money News
Read Latest News The 161 year-old Middlesex County Cricket Club (MCCC) is kicking off a secret review of its mutual ownership status as it seeks to place the Lord’s-based outfit on a sustainable long-term financial footing. Sky News can exclusively reveal that Middlesex has drafted in Oakvale, a specialist sports and gaming corporate finance advisor,…
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How to beat energy price rise by almost £180 | Money News
Read Latest News Energy customers could save almost £180 by shopping around for fixed deals, consumer groups have said. This would more than cancel out the £111 increase to the average bill announced today by Ofgem, which will come into force from 1 April for three months. Fixed deals lock customers in at one price…
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Energy bills for typical household to rise to £1,849 a year from April | Money News
Read Latest News The average annual energy bill will increase to £1,849 from April as the industry regulator Ofgem increases the price cap for the third time in a row. The new figure represents a 6.4% a year – or £9.25 per month – increase in the typical sum the vast majority of households face…
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Sanctions against Russia have changed what Europe imports, but it’s still worth billions to Putin | Money News
Read Latest News Did you know there’s a critical product – one without which we’d all be dead – which Europe is actually importing more of from Russia now than before the invasion of Ukraine? It might feel a bit pointless, given how much chat there is right now about the end of the Ukraine…
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‘I work 34 hours a week, finish at 1.30pm regularly – and this is how to ace the toughest manoeuvre’ | Money News
Read Latest News Each Monday, our Money team speaks to someone from a different profession to discover what it’s really like. This week, we sit down with RED driver training instructor Anisa Fatima… I usually work… between 28 and 34 hours in a week. On the days that I work, I normally start at 9am…
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Bain Capital targets £1bn listed defence group Chemring | Money News
Read Latest News One of the world’s largest private equity investors has made an approach to buy Chemring, the FTSE 250 defence group – the latest in a continuing slew of takeover bids for London-listed companies. Sky News has learnt that Bain Capital has lodged at least one proposal to acquire Chemring in recent weeks.…
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Just Eat Takeaway.com agrees €4.1bn takeover | Money News
Read Latest News Just Eat Takeaway.com has agreed a takeover by a Dutch-based technology investor which says it wants to create a “European champion” for food delivery. Prosus, which already has a 28% stake in global rival Delivery Hero, said its all-cash offer valued Just Eat at €4.1bn (£3.4bn). It represented €20.3 euros per share…
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British tech star Quantexa in talks to secure new funding | Money News
Read Latest News A data analytics company which has become one of Britain’s hottest technology businesses is closing in on a new round of funding expected to value it at billions of dollars. Sky News has learnt that Quantexa, which was founded in 2016, is in advanced talks with Ontario Teachers Pension Plan (OTPP), one…
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‘Worst hack in history’ as $1.5bn in cryptocurrency stolen | Money News
Read Latest News Hackers have stolen $1.5bn (£1.19bn) worth of digital money in what could be the biggest-ever cryptocurrency theft. The Dubai-based Bybit exchange said an attacker gained control of an Ethereum wallet and transferred its holdings to an unidentified address. The firm, which has more than 60 million users worldwide, said no other wallets…
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Apple removes end-to-end security encryption tool for UK cloud users rather than renege on its privacy commitments to all | Money News
Read Latest News Apple’s decision to withdraw its most secure cloud storage service from the UK is just the latest turning point in a battle that has been rumbling on between US tech companies and successive British governments for some time. The dispute centres on end-to-end encryption, a method of secure communication which enables only…
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Plans for direct trains from London to Germany and Switzerland | Money News
Read Latest News The owner of London’s St Pancras station says it is hopeful of having international train services to more European countries, including Germany and Switzerland. In a bid to get more passengers to use the station, London St Pancras Highspeed says it wants to encourage “new and existing train operators” to open new…
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Monument Bank in talks to raise £200m ahead of Nasdaq IPO | Money News
Read Latest News A challenger bank which has amassed a substantial customer base of Britain’s wealthiest savers is in talks about raising £200m in private funding before pursuing a flotation in the US that would raise further questions about the attractiveness of the London market. Sky News has learnt that Monument Bank, which now has…
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Chef reveals the one thing you should never buy – and his favourite cheap substitutes | Money News
Read Latest News Every Thursday, our Money blog team interviews chefs from around the UK, hearing about their cheap food hacks and more. This week, we chat to Manoj Prasad, head of food development at Heartwood Collection. My top tip for preventing waste… never buy pre-prepared cut vegetables – always use a whole vegetable. Instead…
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Birkenstock sandals are not works of art, German court rules | Money News
Read Latest News The Birkenstock sandal is recognisable for its big buckles, wide-straps, and cork-made sole. But the shoes do not qualify as works of art, Germany’s highest civil court has ruled. The German shoe company had filed a lawsuit against three competitors who sold sandals that were similar to their own, by claiming its…
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Surprise boost for shops as retail sales growth exceeds expectations | Money News
Read Latest News Shops were given a surprisingly big boost in January as official figures showed retail sales rose by 1.7%. Only a 0.3% rise had been forecast by economists polled by Reuters. It’s the first growth after four consecutive months of contraction and follows a fall of 0.6% in the key shopping month of…
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200 jobs lost as Quiz Clothing calls in administrators | Money News
Read Latest News Hundreds more high street jobs will be lost this week after Quiz Clothing, the troubled fashion retailer, called in administrators. Sky News understands that the company, which was listed until recently on the London Stock Exchange, will see the closure of 23 of its shops, with about 200 employees expected to be…
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Down the pub political frustrations are palpable | Money News
Read Latest News “They were a little bit arrogant to start with… I think they are learning on the job.” The obvious frustration of Sir Tim Martin, founder of Wetherspoons, at the government and its handling of the economy. And he’s not alone. I’ve spoken to dozens of business leaders in recent months, many angry…
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Inflation rise unlikely to shift Bank of England’s stance on interest rates | Money News
Read Latest News Inflation is rising faster than expected but the latest data is unlikely to shift the Bank of England’s stance on interest rates. The headline rate of inflation hit 3% in January, up from 2.5% the previous month and higher than the 2.8% forecast by economists and the Bank of England. It’s expected…
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Melrose founders target $2bn bid for US industrial group ECI | Money News
Read Latest News The industrial veterans who turned Melrose Industries into one of Britain’s most prominent public companies are targeting a $2bn takeover of a US-based manufacturer of wire harnesses. Sky News has learnt that Rosebank Industries, which floated on the London stock market last summer, has identified Electrical Components International (ECI) as its first…
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Inflation rises from 2.5% to 3% – official figures | Money News
Read Latest News Inflation has risen by more than expected, official figures show. This means prices are rising even more than last month, according to data from the Office for National Statistics for January. The consumer price index (CPI) ticked up to 3% from 2.5% a month earlier. A lower rise to 2.8% was forecast…
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Reeves’ hunt for growth sparks summit with top investment bankers | Money News
Read Latest News Rachel Reeves’ quest to kickstart growth in Britain’s economy will see her holding talks with leading investment bankers and asset managers this week, the latest in a series of summits with senior financiers. Sky News has learnt that the chancellor has called in executives from companies including Abrdn, BlacRrock, Citi, Goldman Sachs,…
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Hipgnosis duet tune up for tilt at investment trusts | Money News
Read Latest News The City duo who orchestrated last year’s sale of Hipgnosis Songs after a bitter governance battle are raising tens of millions of pounds to target undervalued alternative asset managers listed on the London stock market. Sky News has learnt that Christopher Mills, the veteran fund manager, and Robert Naylor, a serial company…
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Fire damage caused by air fryers typically around £30k, warns insurer | Money News
Read Latest News Insurance claims following fires caused by air fryers are running into tens of thousands of pounds, an insurer has warned. The typical claim for 2024 was £29,555, according to Aviva, but in one case it was as high as £80,000. It has reported incidents where fire and smoke damage has spread to…
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Thames Water multi-billion pound debt lifeline approved by High Court | Money News
Read Latest News Thames Water, which was due to run out of money, has been given a lifeline after a £3bn loan was approved by the High Court. It will receive an initial tranche of £1.5bn to fund it until September 2025. The loan will ward off nationalisation, giving the UK’s biggest water provider time…
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What’s happening with Thames Water, why’s it in court and could it be nationalised? | Money News
Read Latest News It’s crunch time for the UK’s biggest water provider Thames Water as its fate will be announced on Tuesday morning. Thames Water finances hang in the balance with debts of £16bn and existing investors declaring the business “uninvestable”, due to the high fines it faces for environmental and other regulatory breaches and…
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Surprise rise in wages – as unemployment unexpectedly stays the same | Money News
Read Latest News Wages have risen while unemployment unexpectedly saw no change, official figures show. Average weekly earnings rose 6%, data from the Office for National Statistics (ONS) showed, while wages – excluding bonuses – grew 5.9%, despite economists expecting a 5.8% rise. The unemployment rate remained unchanged at 4.4%. A rise was anticipated by…
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‘We could not make it work’: Kemi Badenoch admits Tories couldn’t find money for major defence boost | Politics News
Read Latest News There’s been a lot of talk in politics recently about “Western values”. Just last week, the new US vice president JD Vance spoke about the “crisis” in the West and accused European governments of retreating from their values. He said Europe was determined to ignore voter concerns on migration and said free…
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Reynolds set for fresh talks on British Steel rescue deal | Money News
Read Latest News The business secretary will this week hold a fresh round of talks with British Steel’s Chinese owner amid protracted talks about a state bailout of the Scunthorpe-based company. Sky News has learnt that Jonathan Reynolds will discuss the future of the industrial group with Jingye Group’s boss, Li Huiming, in the latest…
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Increasing defence spending will mean government breaking promises elsewhere | Money News
Read Latest News Donald Trump is demanding that European allies spend more on defence, and the prime minister is nodding along. At a summit in Paris, Sir Keir Starmer will urge his counterparts to take the new president seriously and to make concrete spending commitments before the NATO summit in June. Starmer is taking a…
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Topps Tiles’ purchase of rival CTD could bring up prices and make service worse – CMA | Money News
Read Latest News The UK competition regulator has warned Topp Tiles’ purchase of 30 rival shops could make prices more expensive and services worse. On Monday the competition regulator the Competition and Market Authority (CMA) said the acquisition of CTD Tiles stores could lead to competition issues. Money blog: Nearly 300 pubs permanently closed last…
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Motor Fuel Group-owner plots sale of stake in £7bn petrol retail empire | Money News
Read Latest News The private equity backer of Motor Fuel Group (MFG), one of Britain’s biggest petrol forecourt empires, is exploring the sale of a stake in a deal that could value it at about £7bn. Sky News has learnt that Clayton Dubilier & Rice (CDR), which has built MFG from a mid-sized industry player…