Business

Superdry, the struggling fashion retailer which is in talks to be taken private by its founder, is negotiating an additional multimillion-pound loan with one of its existing lenders. Sky News has learnt London-listed Superdry is discussing a new facility with Hilco to borrow £10m or more as it seeks new financial headroom amid a steep

British Land, the London-listed property giant behind some of Britain’s most prominent commercial real estate assets, will this week name a City banking veteran as its next chairman. Sky News has learnt that the company, which owns Broadgate in the City of London and Sheffield’s Meadowhall shopping centre, has lined up William Rucker to replace

Premier League bosses are this weekend scrambling to finalise a landmark £836m financial settlement just days before the publication of legislation to establish English football’s first statutory regulator. Sky News has learnt that the 20 top-flight clubs, which include Aston Villa, Liverpool and Tottenham Hotspur, will on Monday be asked to approve a revised version

Plans to impose targets for electric heat pump sales on gas boiler manufacturers could be confirmed as early as next week, after fierce debate within government and intense lobbying from industry to abandon the policy. Sky News understands energy secretary Claire Coutinho had intended to ditch the policy, known as the Clean Heat Market Mechanism

The owners of Riviera Travel, one of Britain’s biggest providers of escorted foreign tours for the over-55s, have hired bankers to prepare a sale of the company. Sky News understands that Silverfleet Capital, which has owned Riviera since 2017, has hired Baird, the investment bank, to oversee an auction later this year. Riviera runs river

A minister has admitted that the government’s desire to scrap national insurance could take “several parliaments” to achieve as confusion over the policy mounts. In his budget earlier this week, Jeremy Hunt slashed national insurance by 2p and said the government intended to scrap payments entirely, branding them “unfair” and a “double taxation” on work.

An influential committee of MPs has called on the government to legally mandate the inclusion of pay scales in job adverts and ban hirers from asking for employment history as efforts to tackle sexism in the City of London “are moving at a snail’s pace”. A litany of failings, including the “shocking” extent of misogyny,

Nationwide Building Society has agreed terms for a takeover of Virgin Money in a £2.9bn deal that would create a larger rival to the UK’s major lenders. While nothing has been finalised, the offer on the table would see the two brands continue to be run as separate entities, with the Virgin Money brand retained

The Post Office should be removed from involvement in the Horizon scandal compensation processes, a committee of MPs has demanded while piling further pressure on its chief executive. The Business and Trade Committee published recommendations for delivering faster and fuller payments to the hundreds of victims, describing efforts to deliver redress to date as an

The chancellor is unveiling the budget for 2024. Here are the key points so far: Budget 2024: Live updates Money blog: What budget means for you This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version. You can receive Breaking News alerts on

Young drivers with automatic-only licences face paying £760 more for car insurance than those who can also drive a manual vehicle, according to new figures. In what is described as a “concerning” rise, figures from comparison site Compare the Market show motorists under 25 with automatic licences now pay £2,803 on average. That is a

Rachel Reeves is winning a sizeable minority of former Conservative backers despite nagging worries about Labour overspending if they get into power, Sky News Voters Panel has revealed. The Voters Panel, a two-week online community run by YouGov, who backed Boris Johnson’s Conservatives in 2019, has been asked to explain their preference for either Tory

The chief executive of Marks & Spencer (M&S) has described operating under the current government as “like running up a downwards escalator with a rucksack on your back”. Writing on his LinkedIn account, Stuart Machin appealed to the chancellor to take three steps to help the retail sector in Wednesday’s budget, describing planned increases to

The Post Office’s embattled chief executive has been issued with a final chance to submit the 80-page investigation into his conduct before a committee of MPs look to formally summon the report. After a number of lapsed deadlines to provide the report, Nick Read has been told by the Business and Trade Committee chair he

The independent directors appointed to oversee the sale of The Daily Telegraph have been warned that the removal of the newspaper’s two most senior executives breached a government order – and that any subsequent transgression could result in a multimillion pound fine. Sky News has learnt that the Department for Culture, Media and Sport (DCMS)

Britain’s biggest banks have been placed on alert over hundreds of ‘rogue’ filings which appear to have been lodged at Companies House, the UK’s central corporate register. Sky News has obtained a note issued by UK Finance, the banking trade association, which warned its members that approximately 800 forms relating to the discharging of financial

Cash-strapped train travellers are being priced off the railways, campaigners have warned as fares in England and Wales are hiked by nearly 5% despite high levels of cancellations. Critics argue passengers are being “punished” and will be angry at Sunday’s rises given the “shocking state” of the network, against a backdrop of disruption caused by

The long-standing owner of the Moto GP global motor-racing series is in advanced talks to sell the business for more than £3bn. Sky News has learnt that Bridgepoint, which is the biggest shareholder in Moto GP’s parent company, Dorna Sports, is seeking a valuation of up to €4bn (£3.4bn) in its negotiations with prospective buyers.

Elon Musk, the multi-billionaire owner of Tesla and X, is suing artificial intelligence company OpenAI, accusing the firm of prioritising profit over developing AI for the public good. Mr Musk is bringing the suit against OpenAI, which he co-founded, and its chief executive, Sam Altman, for breaching a contract by reneging on its pledge to

The UK car industry has pleaded with the chancellor to help get the transition to electric vehicles (EVs) back on track when he delivers his budget next week, accusing the government of creating an own goal. The Society for Motor Manufacturers and Traders (SMMT) said it was clear that the decision to delay the ban