Business

The government’s Investment Summit has suffered a major blow after ports and logistics giant DP World pulled a scheduled announcement of a £1bn investment of its London Gateway container port, following criticism by a member of Sir Keir Starmer’s cabinet. Sky News understands the Dubai-based company’s investment was due to be a centrepiece of Monday’s

The Post Office’s outgoing CEO today agreed the government is using the company as a “shield” over compensation schemes, while giving evidence at the inquiry. Nick Read, who resigned last month, was giving evidence at the Post Office Horizon IT Inquiry for the second day, with a focus on delays to victims’ financial redress. Edward

Hundreds of employees of the digital bank Monzo are being given the opportunity to sell part of their stakes in the company as its valuation soars to £4.5bn. Sky News has learnt that Monzo notified staff on Thursday that it was launching a secondary share sale backed by a number of the world’s leading technology

The outgoing boss of the Post Office has said he does not need to clear his name following criticism of his leadership over the Horizon IT scandal. Nick Read made the comments as he arrived for the first of three days of evidence to the inquiry into the scandal, in which more than 900 sub-postmasters

Lenders holding £12bn of Thames Water’s debt have held face-to-face talks with Ofwat this week to pitch a rescue deal that they believe would avert the nationalisation of Britain’s biggest water utility. Sky News has learnt that a creditor group advised by Jefferies, the investment bank, met officials from the industry regulator on Tuesday to

Investors managing more than £9trn in assets have backed a more “competitive” approach to British boardroom pay amid a growing debate about London’s attractiveness as a listing destination. Sky News has learnt that the Investment Association (IA), the influential industry trade body, will publish on Wednesday a revised set of remuneration principles aimed at the

The culture secretary will hold talks with a group of Premier League clubs on Wednesday about the government’s plans for a football watchdog, even as the sport’s top flight teeters on the brink of civil war. Sky News has learnt that Lisa Nandy will meet executives from clubs including Crystal Palace, Liverpool and Tottenham Hotspur

A big four audit firm and one of Britain’s high street banks have resumed their membership of the CBI, delivering a boost to the scandal-hit lobbying group’s hopes that it can recover its long-standing influence in government. Sky News has learnt that KPMG and NatWest Group returned to being full members of the CBI this

The family which relinquished control of The Daily Telegraph last year is to hire a trio of banks to oversee a review of ownership options for Very Group, their online shopping empire. Sky News has learnt that the board of Very Group – now chaired by Nadhim Zahawi, the former chancellor – is lining up

A rescue deal for the British operations of TGI Fridays which will salvage more than 2,000 jobs is on the verge of being finalised this weekend. Sky News has learnt that Breal Capital and Calveton, which jointly own the upmarket restaurants business D&D London, could agree a deal to acquire the majority of TGI Fridays

Before we get onto the budget and what Rachel Reeves might do to fiddle her fiscal rules and give herself a little more room to spend, I want you to ponder, for a moment, a recent report from the Office for Budget Responsibility (OBR). This wasn’t one of those big OBR reports that get lots

An investor in one of Britain’s most popular price comparison sites is exploring the sale of its stake in a deal that could value it at more than £4bn. Sky News has learnt that the Canada Pension Plan Investment Board (CPPIB) is lining up advisers to assess whether to sell its 30% holding in Compare

Ministers are plotting a shake-up of Britain’s drive to attract inward investment days before a summit they will claim demonstrates the country is “open for business”. Sky News has learnt that officials are drawing up plans to merge the Office for Investment – a joint venture between the Department for Business and Trade and Number

The UK needs a strategy to meet growing demand for data centres or risk losing its advantage in the race to develop artificial intelligence (AI), one of the sector’s largest players has told Sky News. Data centres – warehouses housing processors that power cloud computing – are central to the digital economy. They provide the

The boss of the UK motor industry’s lobby group has blamed “criminal activity” for UK-made luxury cars finding their way into sanction-hit Russia. The chief executive of the Society of Motor Manufacturers and Traders (SMMT) Mike Hawes was speaking just over a week after Sky News uncovered a system of getting vehicles from the UK

Blackstone, the private equity giant, has hired one of Wall Street’s leading banks to sell the corporate events business which runs some of the world’s largest trade shows. Sky News understands that Blackstone has engaged Goldman Sachs to handle an auction of Clarion Events which is expected to value it at more than £2bn. The

Financial markets are now pricing in a shock interest rate cut for the UK at the next Bank of England meeting following remarks by its governor. There was a huge shift in expectations after Andrew Bailey told the Guardian newspaper the bank could be “a bit more aggressive” in its approach. He talked about inflation

Compass Group, the FTSE-100 catering giant which counts the Wimbledon tennis championships among its most prestigious contracts, is in talks with its investors about increasing its boss’s potential pay package by millions of pounds a year. Sky News has learnt that Compass is consulting its biggest institutional shareholders about substantial hikes to the annual bonus

Israel is fighting on at least four fronts, threatening a war across the oil-rich Middle East, but there is no great sense of fear yet as far as financial markets are concerned. Israel’s actions against Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen and the ultimate sponsors of these groups, Iran, has proved

Saga, the London-listed financial services and travel provider for over-50s consumers, is in detailed talks with one of Europe’s biggest insurers about a deal that will allow it to repay a chunk of its huge debt pile. Sky News has learnt that Saga is in exclusive negotiations with Ageas, a Belgian insurer which tried to