Business

Lord Cruddas, the Conservative peer, is exploring a surprise break-up of CMC Markets, the financial spread-betting firm he founded 32 years ago, into two separately listed companies. Sky News has learnt that the board of CMC could announce within days that it has begun work on the potential split. City sources said this weekend that

A long-awaited plan for railways in the Midlands and north of England will be published next week that could see the eastern extension of HS2 from Birmingham to Leeds mothballed. Regional political leaders are anticipating publication of the government’s integrated rail review for the Midlands and north imminently, with many braced for delays to key

Three is a trend, so the saying goes. So news of two more big company demergers today, hot on the heels of the three-way break-up of 129-year-old US industrial giant General Electric announced on Wednesday, suggests that “doing the splits” is being looked at anew by company boards. Toshiba, one of the best known companies

Drugs firm AstraZeneca has said it plans to start earning a “modest” profit from its COVID-19 vaccine having previously sold it at cost. The Anglo-Swedish company has until now not been making a profit from the Oxford coronavirus jab and said it would not do so during the pandemic. The vaccine has in fact proved

Transport accounts for around a quarter of the world’s carbon emissions. The bulk of that comes from road vehicles and heavy machines. Finding an alternative to internal combustion engines burning petrol and diesel is a priority if global temperature rises are to be kept below the UN target of 1.5C. Electric batteries are widely seen

The economy is recovering, but the pace of that recovery is diminishing – that’s the big picture from today’s gross domestic product statistics. However, the UK is getting ever closer now to regaining the income lost during the crisis. Quite where we are on that front depends somewhat on which measure you’re looking at. Once

Britain’s economic growth slowed to 1.3% in the third quarter, official figures show. It meant that gross domestic product (GDP) remained 2.1% lower than pre-pandemic levels, according to the Office for National Statistics (ONS). The economy’s July-September performance was slightly weaker than the figure of 1.5% expected by economists and marks a sharp slowdown compared

The annual rate of inflation in the US has hit its highest level in more than three decades, fed by faster than expected rises in the cost of fuel and food. The headline consumer prices measure rose to 6.2% in October – a level not seen since 1990 – after a 0.9% surge on the

The pugilistic chairman of JD Wetherspoon has revived a long-running feud with investor groups over corporate governance at the listed pubs operator amid threats of a fresh revolt at this month’s annual meeting. Sky News has learnt that at least two shareholder advisory services are recommending protest votes on issues including boardroom diversity and the

Some of the world’s largest car manufacturers and vehicle producing nations will not sign a global deal to cut new car emissions by 2040, dealing a blow to one of Boris Johnson’s key ambitions for the COP26 summit. Volkswagen and Toyota, the world’s two largest manufacturers are among those that have declined to agree to

Shoppers are buying Christmas gifts earlier than usual because of worries about supply chain problems, new figures suggest. A poll by Barclaycard showed that around a third said they were changing their approach to festive shopping this year due to fears over shortages, with more than half of these bringing forward purchases. The figures were

JD Sports has said it is not “suspicious or illegitimate” for its executive chairman Peter Cowgill to meet his opposite number at rival Footasylum – as it responds to the publication of footage in a newspaper. The Sunday Times said the footage showed Mr Cowgill meeting Barry Bown in a car park near Bury in

Vaccinated passengers are finally able to enter the United States from the UK, bringing an end to almost two years of coronavirus restrictions. Thousands of travellers will jet off on transatlantic flights for long awaited reunions with family and friends, while British Airways and Virgin Atlantic will operate a synchronised departure from Heathrow to celebrate

An investment vehicle which began building a stake in the London-listed gambling software group Playtech earlier this year is weighing plans for a £3bn takeover of the company. Sky News has learnt that Gopher Investments is working with bankers at Rothschild on an offer that would trump a recommended bid announced last month from Aristocrat

Abrdn, the FTSE-100 asset manager, is in advanced talks to buy Interactive Investor (II) for more than £1.5bn – a deal that will hand it control of one of Britain’s three big DIY stock-picking platforms. Sky News can reveal that abrdn, headed by Stephen Bird, is in exclusive negotiations to acquire II and hopes to

The UK’s five biggest supermarkets will try to halve the environmental impact of a weekly food shop by the end of the decade. It is the latest climate promise made during the COP26 summit in Glasgow, and it comes as the UK announces it will lead 45 governments in moving towards more sustainable ways of

Brexit is done, and for many, there’s genuine relief it’s over. But ongoing disagreements and post-treaty disputes are having real world costs to businesses who say they feel let down and misled by the Brexit process. The row over fishing rights and the threat of retaliatory action from the French have already cost one oyster

The owner of British Airways has placed its hopes for a return to profitability on strong demand for transatlantic travel after posting a loss for its key summer season. International Airlines Group (IAG) said the gradual lifting of COVID-19 travel restrictions in key markets – culminating in the full reopening of the US travel corridor

Liberty Steel boss Sanjeev Gupta has been criticised in a report by MPs looking into the crisis that engulfed the company, as well as the future of the wider steel sector. It claimed that the use by Mr Gupta – once known as the “saviour of steel” – of “high risk financial funding practices” was

The Bank of England has surprised investors and economists by leaving interest rates on hold at 0.1% for at least another month. However, the Bank used its quarterly Monetary Policy Report to signal that it was likely to increase borrowing costs in the “coming months”. The decision pushed the pound lower by more than a