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Sky News
Investment in Port Talbot cannot come soon enough, but it might be the last roll of the dice
Sajid Javid, Jacob Rees-Mogg, Greg Clark, Rishi Sunak, Grant Shapps and Kemi Badenoch: the list of Tory chancellors and business secretaries who have sought to unlock the puzzle of the British steel industry’s future in recent years is almost as long as the number of active production facilities remaining in Britain.And as the issue of …
Business
Sky News
Government in advanced talks over £500m Tata Steel aid package
The government is in advanced talks with Britain’s biggest steel producer to hand over a £500m aid package aimed at securing the long-term future of steelmaking in South Wales.Sky News can exclusively reveal that Whitehall officials and Tata Steel are close to agreeing a deal that would commit more than £1bn to the future of …
Business
Sky News
Fayed’s casual relationship with the truth held back his achievements in business
Little has been heard from Mohamed Fayed during the last decade.He sold Harrods to Qatar Holdings as long ago as May 2010 and his other main trophy asset in the UK, Fulham FC, was offloaded to the US businessman Shahid Khan in July 2013.That latter deal brought down the curtain on a controversial – to …
Business
Sky News
Former Harrods and Fulham FC owner Mohamed Al Fayed has died
Mohamed Al Fayed has died at the age of 94.His family say he “passed away peacefully of old age” on Wednesday. Sky News understands Al Fayed was buried after Friday prayers at London Central Mosque in Regent’s Park.The Egyptian-born businessman was best known as a former owner of the Harrods department store and Fulham football …
Business
Business Live
HMV owner finalising deal to save majority of Wilko stores
Thousands of jobs could be saved at collapsed retailer Wilko as the owner of HMV finalises a deal to buy hundreds of stores. A bid to buy the entirety of the business fell through on Thursday, leading to the first wave of redundancies affecting support centre and warehouse staff. But administrator PwC said that discussions …
Business
Sky News
The UK actually fared much better after COVID than first thought – here’s why it matters
Comparing the UK economy with its pre-pandemic size has become an almost totemic way of highlighting its sluggish performance post-COVID.It has certainly been a gift for Opposition politicians and in particular when – in September last year – the Office for National Statistics (ONS) produced evidence that the UK was the only economy in the …
Business
Sky News
Octopus Energy gains two million new customers in Shell deal
Shell has agreed to sell its household energy supply business in the UK and Germany to Octopus Energy.The deal means Octopus now has 6.5 million customers in the UK – and while this is short of British Gas, it makes it larger than virtually every other competitor in the market. Sky’s City editor Mark Kleinman …
Business
Business Live
Rooftop car park leisure hub plan set for approval
Plans to transform the roof of a landmark Chester multi-storey car park into a retail and leisure hub featuring silent cinemas, craft fairs, food and drink stalls look set to be rubber-stamped. Cheshire West and Chester Council’s planning committee meets on Tuesday where it is recommended to approve proposals for the new venue on the …
Business
Evening Standard
Property prices falling faster than expected as rate rises hit demand
The fall in house prices is picking up speed with values now dropping at their fastest pace since June 2009, according to new figures today.The average cost of a home was down a bigger than expected 5.3 per cent to £259,153 last month from their peak in August 2022, data from lender Nationwide revealed. The …
Business
Sky News
Direct Line to pay £30m to customers overcharged when renewing car or home insurance
Direct Line is set to pay £30m in compensation to customers who were overcharged when renewing car or home insurance.Last year, rules were imposed that meant existing insurance customers couldn’t be charged more than new ones. But the insurer admitted there was an “error” in implementing the Financial Conduct Authority’s regulations – meaning some Britons …
Business
Sky News
British factories suffer weakest month since May 2020 as orders shrink
British factories have suffered their weakest month since the early days of the coronavirus pandemic, with orders shrinking dramatically.The manufacturing purchasing managers’ index – a closely watched indicator of economic activity – has hit a 39-month low of 43.0. A score below 50 indicates contraction – and this is the 13th month in a row …
Business
Sky News
Bigger-than-expected fall in house prices
House prices fell by 5.3% in the year to August – a bigger-than-expected drop, according to Nationwide.This means the typical home is now worth £14,600 less than 12 months ago – with an average property price of £259,153. Nationwide’s chief economist, Robert Gardner, says the softening is “not surprising” – with interest rate hikes by …

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