Business

A British fraud detection company backed by Mike Lynch, the technology entrepreneur who died this week, is in talks about a sale to Visa, the American payments giant, worth hundreds of millions of pounds. Sky News has learnt that Featurespace, which was founded in 2008 and is headquartered in Cambridge, is in advanced negotiations about

The pound has hit its highest level against the US dollar since March 2022 after the chair of the Federal Reserve declared that “the time has come” for an interest rate cut. Jay Powell’s remarks to the US central bank’s annual economic conference at Jackson Hole, Wyoming, did not specify when rate cuts would begin

The energy price cap will rise in October to an annual average of £1,717. Industry regulator Ofgem said the 10% rise was largely due to higher wholesale gas prices and urged bill-payers to “shop around” for fixed-rate deals. Money latest:Warning £2,500 will be added to stamp duty ‘overnight’ But the latest increase – which means

Some of London’s leading universities are plotting to create a £500m fund to back start-ups created by their academics, even as the wider higher education sector confronts a growing financial crisis. Sky News has learnt that University College London (UCL), Kings College London and Queen Mary University are in talks to establish a jointly owned

The energy price cap will rise to an average annual £1,717 from October, the industry regulator has confirmed as the clock ticks down to the loss of winter fuel payments for millions of pensioners. The new figure represents a 10% a year – or £12 per month – leap in the typical sum households face

One of Mike Lynch’s neighbours has described him as “generous, humble and full of integrity”, telling Sky News he will “leave a hole that cannot be filled” after his death was confirmed on Thursday. Mr Lynch, 59, was confirmed dead by local authorities on Thursday after the Bayesian superyacht he was on with his wife

Financial market expectations for another interest rate cut next month have risen after a closely-watched survey indicated further progress ahead in the battle against stubborn services inflation. Input cost inflation eased to its lowest for just over three-and-a-half years in August, according to preliminary data from the S&P Global Composite Purchasing Managers’ Index (PMI). “This

You remember that “dire economic inheritance” the new government keeps talking about? Earlier in the summer Rachel Reeves produced a document suggesting the state of Britain’s economy and public finances was so dismal – so much worse than expected – that she would be forced into introducing significant measures (which read: lots more tax rises)

Government borrowing rose to the highest amount since the pandemic in July, official figures show. Not since 2021 has there been a July with such high borrowing, according to data from the Office for National Statistics (ONS). It means that there was a £3.1bn difference between what the government took in from things like taxes

A pilot scheme scrapping peak-time ScotRail fares will end next month following a “limited degree of success”. Transport Scotland said the trial – subsidised by the Scottish government – cost £40m but “did not achieve its aims” of encouraging more people to swap their cars for rail travel. The scheme began in October last year

British tech tycoon Mike Lynch and his 18-year-old daughter are among six tourists missing after a luxury yacht sank in a tornado off the coast of Italy. One person has been confirmed dead – believed to be the vessel’s cook – while four of the missing passengers are British and two are American, according to

British tech billionaire Mike Lynch is missing off Sicily’s coast after a yacht sank, Sky News understands. One person is dead and six others are missing after a UK-flagged superyacht named Bayesian sank off the coast of Sicily in a storm. Follow live: Superyacht sinks latest Sky News also understands the yacht is owned by

The housing market experienced a surge in activity following the Bank of England’s recent decision to cut interest rates, according to a leading property website. Estate agents reported a 19% jump in enquiries about properties for sale after 1 August, when compared with the same period last year, research by Rightmove found. It came after

Dozens of Ted Baker stores will shut for the last time this week amid growing doubts over a future licensing partnership with the retail tycoon Mike Ashley. Sky News understands that talks between Mr Ashley’s Frasers Group and Authentic, Ted Baker’s owner, have stalled three months after it appeared that an agreement was imminent. Administrators

The private equity backer of Six Nations Rugby is plotting to buy a stake in one of Britain’s biggest audit firms – a deal which could have ramifications across the professional services sector. Sky News has learnt that CVC Capital Partners is among the buyout firms preparing to table bids for a controlling stake in

Fortnite is back on mobile phones for the first time in four years, after bitter legal rows got the game taken off both Android and Apple app stores.  Now, developer Epic Games has launched its own app store, making it one of the first third-party stores available on iOS – although UK iPhone users will