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Reeves intervention ruled out as pound slides further
An intervention by the chancellor to help shore up flagging financial market confidence in the UK economy has been ruled out by the government, amid further declines in the value of the pound. Sterling fell to its lowest level against the dollar since November 2023 early on Thursday, building on recent losses. A toxic cocktail …
Business
Sky News
Yodel warrant-holders deliver bitter row over courier’s ownership
Deepening tensions over the ownership of Yodel, one of Britain’s biggest parcel delivery businesses, were exposed on Thursday when a group of purported warrant-holders indicated a desire to seize control of the company.Sky News has learnt that a group said to comprise dozens of warrant-holders – including the entrepreneur who led an aborted rescue deal …
Business
Sky News
Bank of England currency printer De La Rue receives takeover offer
De La Rue, the Bank of England’s currency printer, has been approached about a takeover by one of the City’s most prominent financiers.Sky News has learnt that Edi Truell, the pensions and private equity entrepreneur, has tabled a conditional offer for De La Rue worth 125p-a-share. The proposal, which was at a roughly-25% premium to …
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Sky News
Ryanair suing ‘disruptive passenger’ for causing flight to divert
Ryanair has said it is taking legal action against a disruptive passenger.In what it described as a “major misconduct clampdown”, the airline said it is seeking €15,000 (£12,500) in damages from a passenger in Ireland, whose behaviour forced a plane bound for Lanzarote to divert to Porto in Portugal last year. Ryanair claims the diverted …
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Business Live
B&M Bargains reports 3.5% revenue growth in festive quarter despite retail challenges
Value retailer B&M Bargains revealed strong revenue performance during the lucrative holiday period as price-conscious consumers flocked to discount options for their festive shopping needs. Despite robust sales, anticipation of impending tax increases and rising employment expenses caused B&M’s shares to take a hit, plunging 8.5% today, as reported by City AM. The Liverpool-headquartered business, …
Business
Sky News
Plenty of concern about UK economy but this isn’t a Liz Truss moment
How worried should Rachel Reeves be about the fact that the interest rates on government bonds have leapt to the highest level in more than a quarter of a century? More to the point, how worried should the rest of us be about it? After all, the interest rate on 30-year government bonds (gilts, as …
Business
Sky News
Power grid operator scrambles to avert blackout risk
The UK’s power grid operator has urged electricity providers to bolster output this evening to avert the threat of blackouts amid plunging temperatures.The National Energy System Operator (NESO) issued an alert “to encourage market actions to increase system margins”. It is worried about a lack of spare capacity in the grid from 4pm until 7pm …
Business
Business Live
Paddy Power owner loses over £300m on bad US bets after ‘favourable’ NFL season
Flutter, the parent company of Paddy Power, has revised its 2024 revenue forecasts downwards by $390m (£312m) following a string of “very unfavourable US sports results”. The firm issued a statement to the stock exchange noting that November and December had been particularly challenging due to adverse outcomes in American football parlay bets, as reported …
Business
Sky News
Piers Morgan to leave Murdoch’s News UK in deal over YouTube venture
Piers Morgan, the broadcaster and journalist, is leaving Rupert Murdoch’s British empire to focus on expanding his Uncensored YouTube channel in the US and other international markets, underlining prominent media figures’ accelerating shift away from traditional outlets.Sky News can exclusively reveal that Mr Morgan and News UK – publisher of The Sun and The Times …
Business
Sky News
Food prices will rise due to budget tax hikes, retail body warns
Grocery shoppers are being warned of more hikes to food costs in the months ahead due to retailers passing on the cost of budget tax rises. The British Retail Consortium (BRC) warned that food prices will increase by an average of 4.2% in the latter half of the year – piling more pressure on households …
Business
Sky News
Rolls-Royce pours £300m into factory expansion to meet bespoke car demand
Rolls-Royce Motor Cars says a record £300m investment at its West Sussex factory base will help expand production of bespoke and electric models.The BMW-owned firm, like rivals in the luxury sphere, has enjoyed rising demand for personalised vehicles among its wealthy customer base. The carmaker said recent orders to complement its base models included 18-carat …
Business
Sky News
‘Music is back’ as Swift helps drive record UK sales
UK music sales hit a 20-year high of £2.4bn in 2024, helped by pop megastar Taylor Swift’s latest album, and driven by streaming and the vinyl revival, figures show.Revenues from recorded music reached an all-time high, more even than at the peak of the CD era, according to annual figures from the digital entertainment and …

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