Business

The culture secretary will hold talks this week with the Premier League and its 20 clubs amid the continuing impasse over a financial redistribution deal for English football. Sky News has learnt that Lucy Frazer will attend a dinner on Thursday evening with executives from the top-flight clubs, as well as Alison Brittain, the Premier

Sainsbury’s has refused to rule out job losses under a strategy update that aims to save £1bn over the next three years and focus more heavily on food. The company, which also owns Argos, said its plans included an overhaul of its supermarket offering that would see general merchandise and clothing space reduced across many

Four key bolts were missing from the door that blew off an Alaska Airlines plane in mid-air, according to a preliminary report from a US regulator. The door plug had been removed to fix rivets damaged in production, the initial report said. The investigation was commenced by the investigative agency National Transportation Safety Board (NTSB)

Police investigating allegations of serious misconduct, including sexual assault, at the Confederation of British Industry (CBI) say they are “not able to progress further criminally” with 11 claims looked at to date. Sky News has learned that City of London Police currently has just one matter that officers are continuing to examine. The business lobby

Retailers suffered a “lacklustre” January as bad weather and cost of living pressures discouraged shoppers from opening their wallets after Christmas, according to new research. Total retail sales across the UK increased by only 1.2% year-on-year in January – down sharply from growth of 4.2% during the same period last year, figures from the British

The fashion designer Sir Paul Smith has told Sky News that a campaign to overturn the so-called tourist tax is not just about “helping rich shoppers coming to buy cheap handbags”, but boosting the wider economy. In an interview with Business Live, he explained why he added his name to a letter to the chancellor

The owner of Tangle Teezer, the British hair-styling brand, has enlisted investment bankers to explore options for the company that could include an eventual sale. Sky News has learnt that Mayfair Equity Partners, the private equity backer of companies such as Ovo Energy, has hired Harris Williams to oversee a strategic review. The move comes

A manufacturer of sports supplements part-owned by JD Sports Fashion is beginning preparations for a £1bn flotation that could help breathe fresh life into London’s moribund market for new share offerings. Sky News has learnt that Applied Nutrition, which is based in Liverpool, has been interviewing investment bankers in recent weeks about a listing that

The founder of Superdry is in talks with the owner of Laura Ashley and an investor which previously backed Paperchase about a bid to take the London-listed fashion retailer private. Sky News has learnt that Julian Dunkerton has held initial discussions with Gordon Brothers and Rcapital, both of which specialise in investments in financially challenged

An arm of the giant Indian conglomerate Tata is in the frame to take over the running of Britain’s Faster Payments Service – even as one of its sister companies prepares to lay off thousands of Welsh-based steelworkers. Sky News has learnt that Tata Consultancy Services (TCS) is a leading contender to become the administrator

Shares in Facebook’s parent company Meta have soared after it was announced that dividends will be paid to investors for the first time. Stock in the tech giant surged by more than 15% – adding more than £110bn to its valuation. To put this into context, that rise alone is five times higher than the

One of the members of the Bank of England’s rate-setting Monetary Policy Committee has voted for a cut in its base-level interest rate for the first time since the pandemic, as Britain’s central bank forecast that inflation could be down at its 2% target within a few months. The Bank opted to leave borrowing costs

Profits at oil and gas giant Shell have dipped below the record highs of 2022 but totalled $28.25bn (£22.32bn) in 2023 as energy prices remained high. The company traded more in liquified natural gas (LNG) and increased production. This offset the fact it earned less from refining and from oil trading, and faced higher operating

Jeremy Hunt has cast doubts over introducing big tax cuts at the next budget, saying he is unlikely to have the fiscal “room” he had in the autumn. Earlier this month, the chancellor hinted at further reductions come 6 March, saying the government’s plan of “prioritising tax cuts” was working, and that it would “stick

Facebook is 20 years old today. On 4 February 2004 Mark Zuckerberg launched ‘thefacebook.com’ from his Harvard dormitory. Two decades later, many users struggle to remember a time they weren’t scrolling through its news feed – or that of its social media sibling, Instagram. While allowing us to find long-lost friends and family, and supporting

House prices ticked upwards in January, despite expectations of further falls, the UK’s largest building society has said. Homes cost 0.7% more in January than in December, the Nationwide house price index said. Read moreMoney latest – Mapped: Average rents in every UK region It’s in contrast to predictions by the same lender a month

The new chief executive of BT Group and the boss of Britain’s biggest high street lender are among a cohort of business leaders who will be unveiled by Downing Street on Wednesday as advisers to Rishi Sunak. Sky News has learnt that Allison Kirkby, who will replace Philip Jansen as BT CEO on Thursday, is

HSBC has been fined more than £57m for failing to protect consumer deposits. The fine, totalling £57,417,500, has been levied by the the Bank of England’s Prudential Regulation Authority (PRA) for failing to protect consumer deposits from 2015 to 2022. It’s the second highest fine ever applied by the regulator, reflecting the seriousness of the

Plans by Amazon and vacuum cleaner maker iRobot to merge have been abandoned following concerns that the move would harm competition. The $1.4bn (£1.1bn) deal, which was first announced in August 2022, had previously been approved by UK regulators. But in November the European Commission expressed concerns the online retailer might give iRobot’s products preferential

Ryanair has reported a slump in quarterly profits and narrowed its expectations for annual earnings after some online travel sites stopped selling its flights. The no-frills carrier said it made profit after tax of €15m (£12.8m) over the final three months of 2023, its third quarter, compared to the €211m it achieved in the same