Business

The chairman of the world’s richest basketball league has joined one of the consortia preparing to table final takeover bids for Chelsea Football Club this week. Sky News has learnt that Larry Tanenbaum, who chairs the National Basketball Association (NBA) and owns a host of North American sports teams, is among the investors backing Steve

One of Britain’s top boardroom headhunters is to oversee the search for a new chairman of the Premier League as a recruitment process gathers pace five months after the role’s last incumbent resigned. Sky News has learnt that MWM Consulting, which was set up by the veteran search consultant Anna Mann, has been charged with

Congestion chaos at the Dover port crossing is reportedly costing transport companies £800 per lorry – as British hauliers of perishable goods complain the long waiting times are causing products to go bad. The suspension of P&O ferry services at the terminal as well as Easter traffic, IT issues and bad weather, have led to

Three multimillionaire businessmen have docked and entered the International Space Station in what has been hailed as a milestone for commercial space exploration. Alongside a retired NASA astronaut, the men launched from Florida on Friday as part of a private SpaceX launch. The four men were welcomed onboard the ISS on Saturday by the crew

The owner of the Cannes Lions global advertising festival is plotting a £1.5bn break-up that would see part of the company shift its stock market listing across the Atlantic to New York. Sky News has learnt that Ascential, which has a market capitalisation of £1.49bn, is working with investment bankers on plans to demerge its

Marine Le Pen is closing the gap on Emmanuel Macron in the opinion polls – and investors are getting nervous ahead of this weekend’s first round of voting in the French presidential elections. For months it has seemed that Mr Macron, who cruised to victory five years ago at the head of his newly-formed La

The owners of TalkTalk, one of Britain’s biggest broadband providers, have received tentative approaches about a possible £3bn sale of the company amid a frenzy of international telecoms industry consolidation. Sky News has learnt that Vodafone has been weighing whether to make a potential offer for TalkTalk in recent weeks. Sky, the Comcast-owned immediate parent

The last four bidders for Chelsea Football Club have been given extra time to table final offers for the Premier League side as the most hotly contested sports auction in history looks set to be extended. Sky News has learnt that the remaining consortia were informed on Thursday by the advisers handling the sale that

Boris Johnson has pledged to “do more” to help people with the rising cost of living after Business Secretary Kwasi Kwarteng admitted the government’s energy security strategy is “more of a medium three, four, five year answer”. Speaking to broadcasters from Hinkley Point C ahead of the release of the energy plan later today, the

Part of National Grid will be returned to public ownership under a new plan to help Britain reach its climate targets. The utility company will sell its Electricity System Operator (ESO) arm to the government and will then become part of a new Future System Operator (FSO). The new authority will oversee Britain’s electricity systems

The Treasury has blocked a proposal to expand the energy scheme to upgrade household insulation and energy efficiency, Sky News understands. It had been reported that Number 10 and business ministers were calling for an expansion of the Energy Company Obligation (Eco) scheme – which uses money raised from a levy on energy bills to

Elon Musk has topped Forbes’ list of world billionaires, relegating Amazon founder Jeff Bezos to second place for the first time in four years. Musk was worth an estimated $219bn (£166bn) as of 11 March – when the list’s authors locked in net worths – after adding $68bn (£51bn) to his fortune over the past

A rise in demand for leisure and entertainment activities last month helped the UK economy grow more than had been expected, according to a closely watched survey, as fears intensify that soaring inflation will apply the brakes. The S&P Global/CIPS UK Services PMI, which measures the sector accounting for 80% of the country’s economy bar

The government is considering whether it can go ahead with a landmark global LGBT conference this summer after more than 100 groups pulled out over changes to plans to ban conversion therapy. Organisations including Stonewall said they would no longer support the Safe To Be Me event due to take place on London following the

Shares in social media giant Twitter have surged by a quarter after it was revealed that Tesla billionaire Elon Musk had bought a 9.2% stake. A regulatory filing showed the tycoon had snapped up 73,486,938 Twitter shares. The stake is worth $2.89bn (£2.2bn), based on Twitter’s closing price on Friday. Musk is a frequent user

The government is preparing to nationalise Gazprom’s British supply arm within days amid a stand-off between the Russian state-controlled energy firm and a Wall Street banking giant. Sky News has learnt that ministers are drawing up plans to take Gazprom Marketing & Trading Retail (GM&T) into public hands if it fails to reassure financial counterparties

The owners of the American basketball team the Cleveland Cavaliers have joined forces with one of the four remaining bidders for Chelsea Football Club as the auction of last season’s Champions League-winners enters its final stages. Sky News can exclusively reveal that Rock Entertainment Group (REG), which owns a string of US sports teams, has

NatWest Group is contemplating an audacious takeover bid for one of Britain’s biggest wealth managers in a move that would represent its biggest corporate acquisition since it was rescued by taxpayers nearly 15 years ago. Sky News has learnt that NatWest is in the early stages of considering an offer for Tilney Smith & Williamson,

The government’s business misconduct watchdog has launched criminal and civil probes into P&O Ferries, adding to pressure on the embattled company. The move comes two weeks after P&O Ferries sacked nearly 800 workers and replaced them with lower-paid crew, a decision that the government called illegal. Business Secretary Kwasi Kwarteng confirmed on Friday afternoon that

A London-listed gold mining group which was prevented from making a loan repayment this week after its Russian lender was sanctioned is lining up advisers to help restructure its borrowings. Sky News has learnt that Petropavlovsk, which has seen its shares plummet in the last year, is preparing to bring in AlixPartners to advise it