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Harrods chief Ward to step down as chair of luxury goods group Walpole
The boss of Harrods is to step down next year from the group which represents Britain’s luxury goods industry – one of a number of roles he will have relinquished since allegations emerged about years of abuse perpetrated by the Knightsbridge department store’s former owner.Sky News has learnt that Michael Ward will hand over the …
Business
Sky News
Thousands of farmers descend on Downing Street to protest against tax changes after ‘betrayal’
Thousands of farmers from across the UK are gathering in central London in the biggest protest yet against the government’s changes to inheritance tax rules.The reforms, announced in last month’s budget, will mean farms worth over £1m will be subject to 20% inheritance tax from April 2026. Farmers say that will lead to land being …
Business
Sky News
Higher prices certain and job losses inevitable after budget, retail chiefs warn
Dozens of retail bosses have signed a letter to the chancellor warning of dire consequences for the economy and jobs if she pushes ahead with budget plans which, they say, will raise their costs by £7bn next year alone.There were 79 signatories to the British Retail Consortium’s (BRC’s) response to Rachel Reeves’ first budget last …
Business
Sky News
Grangemouth oil refinery owners reject US-led approach as closure looms
The owners of Scotland’s only oil refinery have rejected a US-led approach about a possible bid for it months before its scheduled closure.Sky News has learnt that a consortium said to be led by Robert McKee, an American energy industry veteran, wrote to Petroineos, the owner of the Grangemouth site, to express an interest in …
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Business Live
GKN Aerospace owner Melrose brushes off supply chain issues as it eyes profit targets
Melrose Industries has confirmed that it is on course to meet its impending profit targets, despite the widespread supply chain issues affecting the aerospace sector. The Birmingham-based manufacturer announced this morning that it anticipates an adjusted operating profit of between £550m and £570m this year, and £700m in 2025, as reported by City AM. In …
Business
Sky News
Energy bills ‘to rise again from January’ but spring falls ‘to come’
Energy bills are to rise again next year, according to a respected forecaster.Costs from January to March are projected to rise another 1% to £1,736 a year for the average user, according to research firm Cornwall Insight. The energy price cap, which sets a limit on how much companies can charge per unit of electricity, …
Business
Sky News
Cineworld owners screen plan for stock market comeback in New York
Cineworld’s hedge fund backers are drawing up plans to return the cinema operator to the public markets amid continuing uncertainty about the future of dozens of its British sites.Sky News has learnt that the company’s owners are at the early stages of considering a New York listing for the business, with the first half of …
Business
Business Live
Cinemas in crisis: Tax changes could lead to venue closures across the UK
The UK cinema industry has issued a warning that the increased taxes on employees’ wages, as announced in the Budget, could be the last straw for some venues in this key cultural sector. Chancellor Rachel Reeves raised the amount employers have to contribute in National Insurance Contributions (NICs) by 1.2 per cent and reduced the …
Business
Sky News
Former Tory minister Heaton-Harris eyes top job at football regulator
A former Conservative cabinet minister has thrown his hat into the ring to become the inaugural chair of Britain’s new independent football regulator.Sky News has learnt that Chris Heaton-Harris, who stood down as an MP at July’s general election, is among those who applied for the role ahead of a deadline on Friday. Mr Heaton-Harris …
Business
Sky News
Starmer vows to defend budget decisions ‘all day long’ as farmers slam ‘disrespectful’ PM
Sir Keir Starmer has said he will defend the decisions made in the budget “all day long” amid anger from farmers over inheritance tax changes.Chancellor Rachel Reeves announced last month in her key speech that from April 2026, farms worth more than £1m will face an inheritance tax rate of 20%, rather than the standard …
Business
Sky News
Pizza Hut UK hunts buyer amid Budget tax hike crisis
Pizza Hut’s biggest UK franchisee has begun approaching potential bidders as it scrambles to mitigate the looming impact of tax hikes announced in last month’s Budget.Sky News has learnt that Heart With Smart (HWS), which operates roughly 140 Pizza Hut dine-in restaurants, has instructed advisers to find a buyer or raise tens of millions of …
Business
Business Live
Rachel Reeves’ pension reforms labelled ‘not radical enough’ by City experts
Chancellor Rachel Reeves used the term “radical” to describe her plans for a comprehensive reform of the UK’s disjointed pension sector, which she unveiled last night. In her inaugural Mansion House speech tonight, she will reveal her strategy to consolidate the UK’s £400bn local authority pension schemes, as reported by City AM. Reeves believes these …

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