Business

India’s richest family has clinched a landmark deal to buy a 49% stake in the Oval Invincibles in a deal that will unite the London-based team with the ownership of the Indian Premier League’s Mumbai Indians. Sky News can exclusively reveal that the Ambani family, who have a fortune estimated to be tens of billions

The government supports a third runway at Heathrow, Chancellor Rachel Reeves has announced. The chancellor said there had been “no progress in 80 years” and that a third runway was “badly needed”. She said the airport “connects us to emerging markets all over the world” and its expansion would increase trade opportunities. Ms Reeves said

Retailers have suffered unprecedented annual levels of shoplifting losses and incidents of violence and abuse against staff, according to industry data, although one major chain has told Sky News there are now signs of a fightback. The British Retail Association (BRC) used the publication of its annual retail crime survey, covering the 12 months to

Quiz Clothing, the troubled fashion business, is close to collapsing into administration days after its shares were delisted from the London stock market. Sky News has learnt that Quiz, which is chaired by the former JD Sports chief Peter Cowgill, is lining up Teneo as administrator in a move expected to take place before the

The average asking price to rent a home outside London has fallen for the first time since before the COVID pandemic, according to a property website. Rightmove credited improved levels of rental properties for the welcome shift, but declared that advertised private rents in the capital continued to tick up, for a 13th consecutive quarter,

US tech firms exposed to big artificial intelligence (AI) investments are seeing their shares take a hammering over the emergence of a low-cost Chinese competitor. The likes of Nvidia, Meta Platforms, Microsoft, and Alphabet all saw their stocks come under pressure as investors questioned whether their share prices, already widely viewed as overblown following an

The chancellor spent most of her first six months issuing dire warnings about the calamitous state of the public finances she inherited. But now, in a dramatic change of tone, Rachel Reeves is celebrating the UK’s economic possibilities. Inspired by Donald Trump’s economic boosterism, and despite the UK’s flatlining growth figures, she told Trevor Phillips

Rachel Reeves will this week announce plans to unlock tens of billions of pounds from corporate pension schemes as part of government plans to kickstart economic growth. Sky News has learnt that the chancellor will use a crucial speech on Wednesday to disclose that she wants to use so-called surplus release to boost investment in

WH Smith is in secret talks to sell its entire high street business in Britain more than 230 years after it opened its first shop in central London. Sky News can exclusively reveal that the listed retail group, which has a market capitalisation of almost £1.5bn, has been in negotiations with a number of prospective

The Original Factory Shop (TOFS), the independent discount retail chain, is close to being sold after more than 17 years under the ownership of private equity firm Duke Street. Sky News has learnt that Baaj Capital, a family office which counts In The Style and party supplies group Amscan International among its investments, has emerged

The family behind Lakeland, one of Britain’s most prominent privately held retailers, is exploring a sale after more than 60 years amid growing cost pressures sweeping the industry. Sky News has learnt that Lakeland, which is controlled by the three sons of founder Alan Rayner, has appointed advisers to gauge the appetite of prospective buyers

There has been an “unprecedented” rise in the number of businesses on the brink of insolvency, according to a closely watched report. The latest Red Flag Alert report by Begbies Traynor, an insolvency specialist, showed those in critical financial distress rose by 50% in the three months to December compared to June-August. It said that

For three days Donald Trump dominated Davos from a distance. On the fourth, he did it in person, albeit virtually, with a speech that took his threats of economic conflict with Europe directly to its political leaders. Beamed from the White House to the World Economic Forum, he delivered a message of total confidence in

Sainsbury’s has revealed plans to cut more than 3,000 jobs. The supermarket said the move was a bid to save money ahead of a £140m leap in costs from budget tax measures, due to come into force within weeks. Head office and senior management roles are among those affected, the chain said, adding that the

Chancellor Rachel Reeves has indicated she will overrule environmental objections to a third runway at Heathrow in order to prioritise economic growth, a position likely to bring her into conflict with colleagues including energy secretary Ed Miliband. Speaking as she began a 48-hour pitch to international investors at the World Economic Forum in Davos, Ms

There’s a chart that’s been doing the rounds in recent weeks – American businessman Marc Andreessen tweeted it, and then it was reposted by Donald Trump himself. The chart is pretty simple: it shows the proportion of American federal government revenues coming from tariffs, going all the way back to the early days of American

It is no surprise to see a government that claims to be committed to making economic growth a priority giving the green light to expansion of Gatwick Airport and Luton Airport. Nor, for that matter, would it be a surprise for a third runway at Heathrow Airport to be given the go-ahead by Sir Keir

There has been a surge in the pace of wage growth but a rise in the unemployment rate, according to the latest official figures. The Office for National Statistics (ONS) reported that both basic pay excluding bonuses, and average weekly earnings, rose at an annual rate of 5.6% in the three months to November. That

One of the things that made President Donald Trump’s inauguration distinctive was the prominence of Silicon Valley elite. Easily identifiable were the world’s three richest men – Elon Musk, Jeff Bezos and Mark Zuckerberg. And that’s not to mention some of the billionaires not placed directly in view of the cameras. When the riches of

Muslim charities say they are still having their bank accounts closed without warning or explanation and face difficulties opening an account despite the political backlash after Nigel Farage’s high-profile debanking. It means charities face obstacles in carrying out their work, with some even being blocked from providing humanitarian aid and life-saving operations, according to a