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Digital lender OakNorth to be parent of US bank CUB
OakNorth, the British-based digital bank, will this week unveil a milestone US deal that will pave the way for it to launch a significant expansion on the other side of the Atlantic.Sky News has learnt that OakNorth, which is chaired by the former City watchdog chair Lord Turner, will on Monday announce that it has …
Business
Sky News
Premiership Rugby rivals and CVC to fund Newcastle Falcons loan
English rugby union’s top teams and the sport’s private equity backer are in advanced talks to fund a multimillion pound loan to Newcastle Falcons to help it meet financial criteria allowing it to play next season.Sky News has learnt that the nine other Gallagher Premiership Rugby sides, which include current league leaders Bath, Saracens and …
Business
Sky News
Digital therapeutics group Strolll lands tonic of £10m funding boost
A digital therapeutics start-up which uses augmented reality (AR) glasses to aid people suffering from disorders including Parkinson’s disease and multiple sclerosis will this week announce a £10m funding injection.Sky News understands that Strolll, which was founded five years ago, has secured the new capital in a round led by IW Capital, which has backed …
Business
Sky News
Man Utd unveil plans to build new £2bn ‘umbrella’ stadium
Manchester United have unveiled plans for a new 100,000-seater stadium – the biggest in the country.Minority owner Sir Jim Ratcliffe has been vocal about his desire for a new, state-of-the-art ground ever since he purchased almost 30% of the club in February last year. United were previously examining whether to redevelop the historic Old Trafford …
Business
Sky News
Boohoo rebrands as Debenhams
Boohoo, the struggling online fashion retailer, has renamed itself Debenhams Group.The company, which has been locked in a battle with its largest shareholder Mike Ashley’s Frasers Group over direction and performance, announced a strategic review last year after the departure of chief executive John Lyttle. His successor Dan Finley said on Tuesday that a turnaround …
Business
Sky News
Unwitting participants of tax avoidance schemes hit with crippling HMRC bills
Hays, Capita, Petrofac. These are some of Britain’s best known companies and big players in the recruitment industry. Now, a Sky News investigation has revealed how, over the course of two decades, some of Britain’s biggest recruitment companies were linked to large-scale tax avoidance when placing workers into jobs, including government roles in Whitehall. Many of …
Business
Sky News
Businesses reeling from ‘Trump slump’ amid confusion over on/off tariffs
If you’re already feeling overwhelmed by the sheer amount of news to ingest on Donald Trump’s tariffs plans in recent weeks, well, you’re not alone.One measure of “policy uncertainty”, which measures how much certain issues are dominating news coverage, shows that the uncertainty levels over trade are currently higher than they’ve been in decades. But …
Business
Sky News
People living near new pylons could get £250-a-year off their energy bills
Residents who live near newly installed pylons will be compensated with £250-a-year off their energy bills, a minister has said.Housing and planning minister Alex Norris told Sky’s Wilfred Frost on Breakfast that communities “need to share the benefits” of the government’s tilt towards clean energy. “If you’re making that sacrifice of having some of the …
Business
Sky News
Two-way shootout looms for WH Smith high street chain
A two-way shootout for WH Smith’s high street chain will take place this spring as the 233-year-old retailer’s brand prepares to disappear from towns across Britain.Sky News has learnt that Alteri and Modella Capital, both of which specialise in buying troubled retailers, are now the only two remaining parties in talks with WH Smith and …
Business
Sky News
Football chiefs in secret summit to revive landmark financial deal
The bosses of the Premier League and English Football League (EFL) have held secret talks aimed at reviving an industry-wide deal ahead of the launch of the government’s new football watchdog.Sky News has learnt that Richard Masters, the Premier League chief executive, his EFL counterpart, Trevor Birch, and executives from clubs including Arsenal, Brentford, West …
Business
Sky News
Boots’ owner sold to private equity firm
The owner of high-street pharmacy chain Boots is being bought by a private equity firm, and it will no longer be a public company listed on a stock exchange. Walgreens Boots Alliance had agreed to a $23.7bn (£18.37bn) deal with private equity firm Sycamore Partners, as first reported by Sky News. It means the business …
Business
Sky News
Surprise as Trump agrees further tariff concessions
Donald Trump has announced that most goods imported from Mexico are to be exempt from his trade tariff regime for at least four weeks, just days after the charges were imposed.He confirmed the move following a phone call with his Mexican counterpart and, according to his commerce secretary, was due to announce a similar concession …

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