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L&G to kick off hunt for successor to Kingman
Legal & General (L&G), the FTSE-100 insurance and asset management group, is preparing to kick off a search for a successor to chairman Sir John Kingman.Sky News has learnt that the company, which this week announced a major corporate deal in the US, is close to appointing headhunters to oversee the appointment process. City sources …
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Hull’s Jordan Commercial invests in Witham facility as it looks to larger vehicles market
Vehicle supplier Jordans Commercial has invested nearly half a million pounds in repair and maintenance facilities at its Witham base. The firm, which is part of the £590m turnover Rix Group, says the move is part of its switch from car retailer to commercial vehicle and motorhome specialist, and has positioned it to move into …
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Amazon shares plunge after tech giant misses sales expectations
Amazon’s cloud computing division, Amazon Web Services, has reported a fourth-quarter revenue of $28.7bn (£23.1bn), slightly missing expectations and raising concerns about the tech giant’s investment in artificial intelligence (AI). The news comes after Chinese startup DeepSeek launched a low-cost AI chatbot that disrupted global markets, wiping more than $1.2 trillion off tech firms at …
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Sky News
Billions for ‘unproven’ technology will have ‘very significant’ impact on energy bills, MPs warn
The government is spending £22bn on “unproven” technologies which will have a “very significant effect” on energy bills, according to an influential committee of MPs. There has been no assessment of whether the programme to capture and store carbon from the atmosphere is affordable for billpayers, said a report from the Public Accounts Committee (PAC) …
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Financial Ombudsman Service chief exits after board clashes
The head of the Financial Ombudsman Service (FOS) has effectively been forced out of the role after losing the confidence of its board amid growing government pressure on economic watchdogs.Sky News understands that Abby Thomas, whose departure was announced earlier on Thursday, was at the centre of several disputes with fellow directors over issues including …
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Sky News
Major car dealership axes jobs and Sunday opening
The country’s third largest car retailer says it is cutting jobs and closing its dealerships on a Sunday as part of efforts to cut costs amid tough trading and looming budget tax hikes.Vertu Motors, which has almost 200 sites operating predominantly under the Bristol Street Motors, Vertu and Macklin Motors brands, made the announcement while …
Business
Sky News
Where do interest rates go from here?
Let’s start with the simple bit: interest rates have been cut – down by another quarter percentage point to 4.5%. But what happens next?Not long ago, the answer was quite simple: the Bank of England would carry on cutting borrowing costs, one quarter point cut every three months, until they reached, say, 3.5%. That, at …
Business
Sky News
What happens now interest rates have been cut?
Let’s start with the simple bit: interest rates have been cut – down by another quarter percentage point to 4.5%. But what happens next?Not long ago, the answer was quite simple: the Bank of England would carry on cutting borrowing costs, one quarter point cut every three months, until they reached, say, 3.5%. That, at …
Business
Sky News
Interest rate cut – but economic growth forecast slashed in blow to chancellor
The Bank of England has cut interest rates by another quarter percentage point, bringing down the cost of borrowing to 4.5%.And in a sign that households can expect more cuts in the months to come, two members of the Bank‘s Monetary Policy Committee said they would have preferred to reduce rates even more, by a …
Business
Sky News
HSBC to hand new chief Elhedery £15m maximum pay deal
HSBC Holdings is to hand its new chief executive a pay package potentially worth more than £15m as part of an overhaul of its bosses’ remuneration triggered by the government’s scrapping of the EU bonus cap.Sky News has learnt that Europe’s biggest lender, which has a market capitalisation of more than £147bn, is putting the …
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Business Live
Engineering group IMI latest UK firm to be hit by cyber attack
Engineering firm IMI says it has been hit by a cyber attack just a week after rival Smiths Group said hackers had gained access to its global systems. The Solihull-based listed company declined to disclose what data had been accessed in the attack but systems in a number of its locations worldwide are understood to …
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Business Live
Watches of Switzerland optimistic about US market growth post-Trump tax cuts
Watches of Switzerland has conveyed a positive outlook for the luxury market in Europe, while highlighting sustained progress in the US, indicative of the global luxury sector’s slow emergence from a two-year slump. According to the watch retailer, the once-stressed luxury market is now showing signs of stability, despite persistent pressures such as decreasing disposable …

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