Business

The breakaway international golf tour funded by Saudi Arabia’s vast wealth is to stage its first event in India early next year amid its continued expansion and an impasse over the sport’s global calendar. Sky News has learnt that Greg Norman, the former two-time Major-winner who now serves as commissioner and chief executive of LIV

The prospects of a rescue deal being struck for a British hypersonic aviation pioneer appeared to recede this weekend when it emerged that talks with a Gulf-based state fund had stalled. Sky News has learnt that negotiations between Reaction Engines and the UAE’s Strategic Development Fund, the investment arm of the UAE’s Tawazun Council, about

Ministers will oversee the HS2 project as the cost of delivering the high-speed train line has been allowed to “spiral out of control”, the transport secretary has said. Louise Haigh announced on Sunday she has launched an independent review into how costs have been allowed to balloon “without sufficient explanation”. The transport secretary and her

Ministers are exploring plans to hand ownership of the Post Office to thousands of sub-postmasters across Britain in an historic shake-up at the 364 year-old institution. Sky News has learnt that the Department for Business and Trade (DBT) has asked BCG, the management consultancy, to examine options for mutualising the Post Office. The work is

Tony Danker, the former director-general of the CBI, is to receive in the region of £500,000 from the business lobbying group in a settlement reached nearly a year after he was ousted in the midst of a wider sexual misconduct scandal. Sky News has learnt that Mr Danker, who left the organisation in April 2023,

Baillie Gifford, the Edinburgh-based fund manager, has told staff to return to full-time office working, the latest in a string of employers to cool on pandemic era remote working practices. Sky News understands that Baillie Gifford’s roughly-1,800 employees were notified in a video call several weeks ago that they were expected to attend its offices

The home shopping group behind fashion brands such as Simply Be and Jacamo, received a takeover proposal from Very Group shortly before it agreed to be taken private by a member of its founding family. Sky News has learnt that Very Group – which is chaired by the former Conservative chancellor Nadhim Zahawi – made

3i Group, the listed private equity group, has picked bankers to sell the pet food manufacturer behind leading brands including Applaws. Sky News has learnt that 3i has appointed Harris Williams to handle an auction of MPM four years after it bought a controlling stake in the company. Based in Manchester, MPM was founded in

A collection of bondholders in Thames Water are mobilising to protect their interests amid an intensifying battle to avert the company’s nationalisation. Sky News has learnt that Class B bondholders were notified on Thursday they would no longer be part of the same group as the Class A noteholders represented by Jefferies, the investment bank,

Britain’s new National Wealth Fund has struck a £1bn deal with two of Britain’s biggest high street lenders to retrofit thousands of homes to upgrade their energy-efficiency. Sky News has learnt that the government-backed vehicle has agreed with Barclays and Lloyds Banking Group to provide partial guarantees on loans to housing associations across Britain. An

The parent company of PizzaExpress is hiring bankers to help it refinance a £335m bond ahead of its maturity, amid tough trading conditions for casual dining operators. Sky News has learnt that Wheel Topco is close to appointing PJT Partners, the investment bank, to advise it on talks with its debtholders. PizzaExpress trades from 359

A trio of buyout firms have been shortlisted to buy a stake in the UK operations of Grant Thornton, one of Britain’s six biggest accountancy firms. Sky News has learnt that Cinven, EQT and New Mountain Capital – the backer of Grant Thornton’s US business – have made the cut in a process that could

The CBI, the struggling business lobbying group, is in talks to sub-let parts of its vast London headquarters as it continues to seek cost-cutting opportunities in the wake of last year’s near-collapse. Sky News has learnt that the CBI has approached some of its trade association members to gauge their appetite to lease parts of

Scrutiny of Thames Water, the crisis-hit utility, will intensify this week when the industry regulator appoints LEK Consulting as an independent monitor of the company. Scrutiny of Thames Water, the crisis-hit utility, will intensify this week when the industry regulator appoints LEK Consulting as an independent monitor of the company. Sky News has learnt that

Rachel Reeves has said she “wouldn’t have any problems” getting on a P&O ferry following the fire-and-rehire scandal. The chancellor was asked to clarify her position after criticism by her colleagues almost derailed a planned investment announcement from the travel operator’s owner ahead of a crucial summit. Politics latest: Ex-Google boss tells PM what’s blocking

The government will on Monday welcome more than £50bn of investment in the British economy as Sir Keir Starmer tries to reset his administration after a first hundred days market by scandal and infighting. Sky News has learnt that the International Investment Summit in the City of London will comprise more than £50bn of deal

The business secretary has suggested the government could put up national insurance for employers in the budget without breaking its election pledges. Jonathan Reynolds told Sunday Morning with Trevor Phillips that Labour’s promise not to increase national insurance “was specifically in the manifesto, a reference to employees”. National insurance is paid by both employees and

A £1bn investment in Britain by port operator DP World will go ahead as planned, after a frantic effort by ministers and diplomats to repair relations following a row with the Dubai-owned multinational that threatened to overshadow a crucial investment summit. On Friday, Sky News revealed that the planned investment was under review and that

One of the world’s most successful private equity chiefs is being lined up to help fund a takeover of The Observer, the world’s oldest Sunday newspaper. Sky News has learnt that Patrick Healy, the chief executive of Hellman & Friedman (H&F), a US-based buyout firm, is among the Tortoise Media shareholders who are in talks

P&O Ferries is one of the few subjects on which Britain’s political class agree. Its summary sacking of 800 British seafarers and their replacement with cheaper, largely foreign agency staff is universally considered one of the most outrageous acts in the recent history of labour relations. Louise Haigh was among the first and loudest to