Business

Stock markets globally are feeling the pain of a US-led slump that was sparked by renewed concerns for the country’s economy and artificial intelligence-linked values. The darling of US stocks since 2019, AI chipmaker Nvidia, saw its shares plunge almost 10% on the back of poorly received earnings growth last week. Other tech stocks in

EY, the big four auditor, has assembled a female-dominated shortlist to become the firm’s new UK and Ireland managing partner, paving the way for it to elect a woman to its top British executive position for the first time. Sky News has learnt that EY partners were briefed on Tuesday that one of Anna Anthony,

Bidders for The Daily Telegraph and its Sunday sister title are this week holding their first direct talks with the newspaper group’s bosses ahead of a deadline for formal bids later this month. Sky News has learnt that the remaining bidders for the right-leaning newspapers are participating in management presentations as they seek to finalise

American tech giant Hewlett Packard has said it is to continue with legal proceedings “through to their conclusion” to seek up to £3bn in damages from late British billionaire Mike Lynch’s estate in the UK. The company had been seeking compensation over its acquisition of British tech firm Autonomy amid claims of fraud masterminded by

Labour is facing a drop off in confidence among business leaders amid plans for tax rises and improvements to workers’ rights, according to a survey. The Institute of Directors (IoD) had noted a leap in optimism in July among its membership as the new government came to power. But its latest economic confidence index showed

A full-fibre broadband builder is accelerating its search for merger partners amid growing financial strains on some of the industry’s smaller players. Sky News understands that Zzoomm, which is backed by the giant US-based investor Oaktree Capital Management, has drafted in Acuity Advisors, a specialist technology firm, to identify prospective deals. Zzoomm operates in nearly

A British hypersonic aviation campaign which has been hailed as a successor to Concorde is this weekend racing to avert collapse. Sky News has learnt that Reaction Engines has lined up PricewaterhouseCoopers (PwC), the accountancy firm, to act as administrator if its quest to secure new funding is unsuccessful. The company is understood to be

GE, one of the world’s best-known conglomerates has swooped to buy a British climate technology start-up in its quest to reduce the aviation industry’s environmental impact. Sky News has learnt that GE Aerospace has struck a deal to buy Satavia, a Cambridge-based company which helps to mitigate the warming effect of aircraft contrail clouds. Founded

The government’s plan to ban smoking in pub gardens and other outdoor venues is a “sensible approach” to help people stop, a minister has said. Sir Keir Starmer confirmed leaked reports on Thursday his government is considering the smoking ban, which would also include outdoor restaurants and outside sports venues, hospitals, nightclubs, and in some

The number of mortgages approved reached a near two-year high, according to Bank of England figures, as hopes of cheaper borrowing encouraged would-be buyers. Mortgage approvals increased to 62,000 in July, a level not seen since September 2022, a sign that buyers were waiting for hopes of reduced interest rates and the associated lower mortgage

House prices are now growing at the fastest annual rate in nearly two years, the UK’s largest building society has said, with rises expected to continue. In the year up to August, houses became 2.4% more valuable with the average property costing £265,375, according to Nationwide. But prices are still below the all-time highs recorded

Older people are having to fill out a 243-question form to access pension credit and winter fuel payments – a task that will be “daunting” for some, charities have said. The government has launched a campaign urging eligible people to apply for pension credit after Rachel Reeves announced last month that the winter payments would

The government will not defend the legal challenges brought against plans to develop the UK’s largest untapped oil and gas field and a second North Sea site. Rosebank, 80 miles west of Shetland, contains around 300 million barrels of oil and is the UK’s last major undeveloped oil site. It is twice the size of

Pavel Durov, the chief executive of Telegram, is due in court later to face possible charges linked to alleged criminal activity on the platform. The billionaire founder of the encrypted messaging and social media app was arrested in France on Saturday after his private jet landed at Le Bourget airport outside Paris. The Russian-born entrepreneur

The water industry has said that without even greater water bill rises, the regulator is set for failure and firms will be unable to deliver reforms to stop sewage outflows. The dire warnings were shared in a letter from industry trade association UK Water to water regulator Ofwat. Wednesday is the last day English and

The owner of Ted Baker will on Wednesday announce that it has struck a deal with an American group to re-establish an online presence in the UK, days after its remaining retail stores were shut for good. Sky News has learnt that Authentic, which has owned Ted Baker since 2022, has struck a deal with

Thousands of Next workers have won an equal pay claim against their employer. An employment tribunal said the mostly female sales consultant floor staff should not be paid less than warehouse staff, the majority of whom are male. It’s the result of a more than six-year legal battle involving 3,540 claimants working at the high

The leading contender to buy Everton Football Club is preparing to launch within days a plan to take his sports and technology holding company public at a valuation of over $2bn. Sky News has learnt that John Textor, an American businessman, is to file documents with US regulators that will see Eagle Football Holdings become

Unilever, the FTSE-100 consumer goods behemoth behind Marmite and Lynx, is trying to slim its portfolio of personal care brands by putting two of them up for sale. Sky News has learnt that Unilever is working with advisers on the disposal of Kate Somerville, an upscale skincare brand it acquired in 2015. City sources said

A court-appointed armed guard tasked with ensuring Mike Lynch did not flee while facing fraud charges has paid tribute to the tech tycoon and his daughter, who both died after the Bayesian superyacht they were holidaying on sunk. The 59-year-old Briton was confirmed dead by local authorities on Thursday after the superyacht he was holidaying