Business

Britain’s biggest high street lender is lining up bankers to launch a £600m auction of the Telegraph newspapers and The Spectator magazine within days amid a bitter row with the titles’ long-standing owners. Sky News has learnt that Lloyds Banking Group is being advised by Lazard on its options for some of Britain’s best-known media

The scandal-hit CBI has secured support in its battle for survival by winning a crunch membership vote on plans aimed at restoring trust in the business lobby group. The UK’s largest employers’ organisation needed a simple majority to win the vote in an extraordinary general meeting in London and won 93% in favour of its

The CBI faced ridicule hours before a vote on its future on Tuesday after a senior executive hailed its “transparent” handling of the misconduct crisis which has left it facing collapse – despite blocking the media and resigned members from watching a pivotal general meeting. Sky News has seen an email sent by Henry Aldridge,

British Airways (BA) has revealed all its staff who are paid in the UK have been caught up in a cyber incident that has exposed personal data including bank and contact details to hackers. It emerged last week that a so-called zero-day vulnerability – a flaw – in the file transfer system MOVEit, produced by

The embattled CBI business lobby group faces another threat – this time in the form of rival business group and challenger the British Chambers of Commerce (BCC). The group has founded a new lobbying body, the Business Council, with some of the UK’s biggest businesses. Founding members of the new body include Heathrow Airport, oil

Apple is expected to announce a mixed reality headset – its first brand-new product for eight years – at its annual event for developers. The tech giant’s WWDC showcase is usually reserved for software reveals – notably the next major updates for its iPhones, iPads, and Macs – but this year fresh hardware is on

Siemens, the German-based industrial technology giant, is this weekend leading a last-ditch rallying cry to save the CBI, the ailing business lobbying group. Sky News has learnt that Siemens, which employs 11,000 people in Britain, is coordinating a letter among a group of CBI members to urge them to publicly endorse its survival. The letter,

The talent agency which managed Phillip Schofield until the disgraced TV star’s career imploded this week is this weekend facing questions about its own future after its lenders called in advisers to explore a financial restructuring. Sky News can reveal that YMU, which is owned by a private equity firm, has for weeks been involved

Rail strikes are set to cause further havoc today when train drivers walk out ahead of high-profile events including the FA Cup final, the Epsom Derby, and a Beyonce concert. Members of the Aslef union are taking industrial action in the long-running dispute over pay and working conditions. Read more: Everything you need to know

Two of the country’s biggest banking giants have announced they are closing a total of 63 branches. Barclays said on Friday it will shut another 10 branches, on top of more than 70 closures this year that have already been announced. Meanwhile Lloyds Banking Group will shut the doors on 21 Lloyds Bank sites, along

As food inflation rises to 19.2%, its highest rate in 42 years, the European Central Bank has suggested it could be down to, in part, businesses profiteering from the cost of living crisis by increasing their prices for larger margins, a term known as “greedflation”. But what is the data behind the suggestion? On the

The owner of British Gas is facing criticism from a leading City investor over the multimillion pound pay package handed to its chief executive after persistent criticism of windfall gains triggered by share price collapses during the pandemic. Sky News can reveal that abrdn, one of the London stock market’s most influential institutional shareholders, will

House prices fell by 3.4% year-on-year in May, according to one of the UK’s biggest mortgage lenders. Data from Nationwide building society also showed a month-on-month decline of 0.1%, with the average cost of a UK home now said to be £260,736. The building society had said there were tentative signs of a recovery in the

CBI members are to begin voting today on the future of the business lobby group, following a series of scandals. The organisation was plunged into disarray after claims of serious sexual assault were made by CBI employees against colleagues. Today it will launch what it describes as an “ambitious ‘programme of change'”, with adjustments to

Rail passengers are set to suffer fresh travel disruption over the next few days due to more strikes in long-running disputes over pay, jobs and conditions. Train companies are warning that services will be “severely reduced” because of industrial action by drivers and other workers. Members of the drivers’ union Aslef will walk out on

Having made tackling inflation a key policy aim, ministers are under pressure to get a grip on food prices, which are still rising at a robust pace. Among the proposals being considered is a cap on the price of basic food items. The British government is not the first to weigh up such a policy.

Asda Group has said it will acquire petrol station operator EG Group’s UK and Ireland business, creating a company with combined revenues of nearly £30bn. The news confirms a report by Sky News City editor Mark Kleinman last week, which said the “finishing touches” were being put on the deal. Asda is the UK’s third-largest

HSBC will next month unveil a new name for the technology-focused bank it rescued earlier this year after its US parent collapsed. Sky News has learned that Europe’s biggest lender intends to rebrand Silicon Valley Bank UK (SVBUK) under the name HSBC Innovation Banking. The new identity is expected to be announced to coincide with

The Ineos billionaire Sir Jim Ratcliffe remains the leading candidate to buy Manchester United Football Club despite an inconclusive board meeting held late last week. Sky News understands that directors of the Premier League club’s holding company met on Thursday to discuss the progress of its £5bn-plus auction. Controlled by members of the Glazer family

Plans to encourage supermarkets to introduce voluntary price caps on food staples in a bid to help with the cost of living crisis are being drawn up by Downing Street, according to reports. The scheme would aim to get retailers charging the lowest possible amount for some basic products like milk and bread, the Sunday Telegraph reported. A