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06.07.2024 - 07:36
Business
Sky News
Lord Saatchi weighs Telegraph move ahead of bid deadline
One of the advertising gurus who helped propel Margaret Thatcher to power is weighing the formation of a consortium to bid for The Daily Telegraph.Sky News has learnt that Lord Saatchi, the Conservative peer, has been discussing the option of launching an offer for the right-leaning newspapers ahead of a deadline later this month. Lord …
05.07.2024 - 09:24
Business
Sky News
Key economic challenges facing Labour and the woman soon to become Britain’s first female chancellor
Having turned the political map red, Labour’s priority is steering the economy into the black.Sir Keir Starmer’s programme for government may be modest, but the means to deliver it are not. A new prime minister and, in Rachel Reeves – widely expected to become the UK’s first female chancellor – have a tough economic inheritance.Follow …
05.07.2024 - 08:26
Business
Sky News
Elliott-backed Avant tables rival takeover bid for Crest Nicholson
A housebuilder owned by the investment firm Elliott Advisors has tabled a secret takeover offer for Crest Nicholson, its London-listed rival.Sky News has learnt that Avant Homes, which is run by former Persimmon chief Jeff Fairburn, made an all-share proposal to the board of Crest last month. The bid, which City sources said had been …
04.07.2024 - 10:48
Business
Sky News
EasyJet flight from Gatwick to Tenerife makes sudden U-turn mid-journey due to ‘technical issue’
An easyJet flight to Tenerife had to make a sudden U-turn and return to Gatwick due to a “technical issue”.The captain of flight EZY8033, which left the London airport at 7.26am and was due to arrive in Tenerife at 11.50am, decided to return to Gatwick “as a precaution”, easyJet said. Image: The Easyjet flight turning …
04.07.2024 - 09:49
Business
Sky News
Cineworld to exit dozens of cinemas in radical restructuring plan
Cineworld is drawing up plans to axe dozens of British cinemas as part of a radical restructuring that would also include extensive rent cuts.Sky News has learnt that the company, which until last year was listed on the London Stock Exchange, is considering closing about a quarter of its roughly-100 British multiplexes. Cineworld also wants …
03.07.2024 - 15:59
Business
Sky News
Fraud gangs ‘stealing billions’ from music industry via ‘fake’ streams
Fraud groups take billions of dollars a year out of the music industry through fake streams, a streaming technology company has warned. At least 10% of all song streams are fraudulent, and this takes between $2bn and $3bn (£1.6bn and £2.4bn) out of the global music industry each year according to Beatdapp, the streaming fraud …
03.07.2024 - 15:42
Business
Sky News
Post Office lawyer advised against sharing critical Horizon report, ex-chair tells inquiry
A former chair of the Post Office has told the Horizon IT scandal inquiry that in-house lawyers advised him against sharing a report he commissioned on the accounting system. Tim Parker, who held the role for almost seven years from October 2015, said he regretted taking the advice the findings of the review by Jonathan …
03.07.2024 - 13:26
Business
Sky News
Why Google’s greenhouse gas emissions have surged 48% in five years
Google has admitted its greenhouse gas emissions have risen 48% over the past five years – largely because of artificial intelligence – scuppering its climate aims.AI systems require intense levels of computational power, and this has piled pressure on the tech giant’s data centres around the world. In its latest environmental report, Google went on …
03.07.2024 - 08:52
Business
Sky News
Why are rich people reportedly selling assets to avoid potential Labour changes to capital gains tax?
Whoever wins the next general election will face extremely tough choices on taxation and spending.As the independent Institute of Fiscal Studies has pointed out, both Labour and the Conservatives have ruled out changes to the big four revenue-raisers, income tax, national insurance, VAT and corporation tax. And, while both parties have made relatively modest spending …
03.07.2024 - 08:14
Business
Sky News
Online retailer Lovecrafts drafts in Interpath to oversee sale
An online crafts retailer which saw sales boom during COVID-19 lockdowns is exploring a cut-price sale.Sky News understands that Lovecrafts, which is chaired by the media veteran Sir Peter Bazalgette, is working with Interpath Advisory on a sale. Founded in 2012, Lovecrafts is backed by leading growth investors including Highland Ventures, Balderton Capital and Scottish …
02.07.2024 - 23:00
Business
Sky News
The huge cost of the HS2 line that will never be built
More than £232m has been paid out in compensation to people affected by the now-scrapped northern leg of HS2, Sky News can reveal. Responses to our Freedom of Information requests show just shy of £550m has been spent so far on a range of government compensation schemes for both residents and businesses impacted by the …
02.07.2024 - 15:15
Business
Sky News
Markets buoyed by Labour landslide after Tory turmoil
The pound has remained stable and the markets have reacted positively to Labour’s landslide election victory.Shares in leading companies on the UK stock exchange have risen reflecting expectations among investors of a period of stability after years of market volatility under the Conservatives. The top-flight FTSE 100 rose up to 0.4% at the open before …