Business

Klarna, the buy-now-pay-later credit provider, is close to unveiling an $800m fundraising at a valuation of less than $6bn, echoing deteriorating public market sentiment towards technology companies. Sky News has learnt that Klarna, which is based in Sweden, is expected to announce as soon as this week that it has secured the funding from existing

The firesale of a leading British mobile phone technology provider whose owners include Roman Abramovich has been halted by the government amid a national security probe into the deal. Sky News has learnt that officials at the Department for Business, Energy and Industrial Strategy (BEIS) issued an interim order this week to block the purchase

The full range of Heinz products will return to Tesco shelves after the companies reached an agreement to resolve a pricing dispute. The US food manufacturer had paused the supply of its items in a row that raised questions over who should bear the biggest cost in the current economic climate – manufacturers, retailers, or

Businesses are being urged not to pay cyber extortionists as authorities say they are seeing evidence of a rise in ransomware payments. In a joint letter to the Law Society, the National Cyber Security Centre (NCSC) and the Information Commissioner’s Office are warning solicitors who may have been advising their clients to pay. It follows

Ports across the country are threatening the government with legal action unless compensation is paid to cover the millions of pounds they’ve spent building new border control posts. The posts, due to be up and running this month, were designed to carry out post-Brexit physical checks on imports of plant and animal products from the

Britain’s competition regulator has launched an in-depth study to examine concerns about soaring fuel prices. The Competition and Markets Authority will look at the differences between petrol and diesel prices in rural and urban areas, as well as the growing gap between the price of crude oil when it enters refineries and the wholesale price

It is the final day for airlines using UK airports to cancel flights without fear of punishment as part of efforts to give certainty to passengers who are, understandably, nervous about their long-awaited summer holidays. The so-called slot amnesty was announced last month by the government when it became clear the sector could not guarantee

British Airways (BA) workers have suspended a strike that had been planned at Heathrow during the school summer holidays after receiving a “vastly improved” pay offer from the airline. After extensive negotiations, the Unite and GMB unions said an agreement was reached and members involved in the dispute would now vote on the proposed offer.

British Airways (BA) has announced it will cut a further 10,300 short-haul flights until the end of October. The airline, among the worst hit by post-pandemic staff shortages that have resulted in widespread disruption for passengers this year, made the announcement just a day after another wave of cancellations was revealed in a bid to

Chancellor Nadhim Zahawi has said there is “nothing off the table” on tax cuts as he called for caution on public sector pay rises. Speaking to Sky News on his first full day in the role, he said he would “look at everything” when pressed about his tax plans. “The most important thing is to

The amount you can earn before having to pay national insurance (NI) has been raised from today, a move Boris Johnson has described as the “biggest tax cut in a decade” to help with the rising cost of living. The government says 30 million people will benefit to the tune of £6bn collectively from the

British Airways (BA) has moved again to build greater resilience in its flying schedules by cancelling additional flights during the key summer holiday season. The airline, one of the worst affected by post-pandemic staff shortages this year, said it was taking further “pre-emptive” action to prevent disruption for passengers. It follows a torrid reopening of

The Premier League is asking clubs to support phasing out shirt sponsorship by gambling companies in a last-ditch effort to avert a government-imposed ban. Sky News has learnt that the Premier League contacted clubs on Monday to propose a resolution that would see betting companies disappear from teams’ shirts within the next three years. Under

Twelve people have been arrested after protesters used “rolling roadblocks” to bring parts of the M4 to a standstill during demonstrations over high fuel prices. Demonstrations took place on the motorway at the border between England and Wales, and on the M5. Groups of motorists took part in “slow-downs” where they occupied all three lanes

A family-run industrial group is to change hands for £400m, giving a much-needed boost to a deals market slowing down amid growing economic anxiety. Sky News has learnt that Triton Partners is on the verge of an agreement to acquire O’Connor Utilities Group, which is based in Manchester. An industry source said a deal could

Security tests for new airport workers are being completed in record time, ministers claim, despite travel disruption continuing to dog holiday plans. The time taken to vet new employees has been raised as one of the reasons for shortages in airport staff, contributing to thousands of flight cancellations, delays and missing luggage. Airports across the