Homeowners could soon be taking out 50-year mortgages to then be passed on to their children when they die, under new plans being considered by the government. The Japanese-style lending agreements could see people being able to buy a home with little or no expectation of completing mortgage repayments during their lifetime. Instead the property
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The governor of the Bank of England is opposing plans drawn up by the Treasury that would allow ministers to overrule financial watchdogs on key areas of City regulation. Sky News has learnt that Andrew Bailey has expressed disquiet about a so-called ‘call-in power’ that will be included in the Financial Services and Markets Bill,
Tom Glick, a former executive at Manchester City FC’s parent company, is to take over the day-to-day running of Chelsea Football Club in the wake of its £2.5bn takeover. Sky News has learnt that Mr Glick’s appointment could be announced within days by Chelsea’s new owners, although it remained unclear on Friday whether he would
The Premier League has suggested phasing out front-of-shirt sponsorship by gambling companies over the next few years but allow them to retain an indefinite presence on teams’ shirt-sleeves, under proposals presented to ministers. Sky News has learnt that English football’s top flight tabled the idea during negotiations with Whitehall in the last few weeks. One
Aston Martin has said it is considering multiple funding options following reports that Saudi Arabia’s sovereign wealth fund was lining up a possible investment worth hundreds of millions of pounds. Responding to the reports, the luxury carmaker said that it was keeping all “funding options under review,” amid uncertainty around the company’s future. Aston Martin’s
A motoring group has accused petrol retailers of abusing their “essential” status as government figures show little let-up in demand despite prices hovering at record levels. The AA said that data from the Department for Business, Energy and Industrial Strategy (BEIS) showing that petrol sales remained at 94% of normal levels demonstrated how vital fuel
Thames Water is to tap shareholders for £1.5bn of new equity in an effort to accelerate its transformation plan, months after it was hit by the latest in a string of regulatory fines. Sky News has learnt that Britain’s biggest water utility is expected to announce on Thursday that its existing investors have agreed to
Three Arrows Capital, a cryptocurrency-focused hedge fund, has plunged into liquidation, deepening the crisis engulfing the global digital assets sector. Sky News has learnt that partners from Teneo Restructuring in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm, which was set up in 2012 by Su Zhu
Hilco, the specialist retail investor, is closing in on a takeover of Cath Kidston, the modern vintage brand recently put up for sale by the owner which bought it out of administration just two years ago. Sky News has learnt that Hilco, which has owned an array of prominent high street names over the last
Heathrow Airport has warned that a proposed reduction in the amount of money it can charge airlines per passenger would result in a major reduction in investment. In its final proposals revealed on Tuesday, the Civil Aviation Authority (CAA) said the average maximum charge – which is passed on to passengers in their air fare
Petrol retailers have been accused of forcing “rocket and feather” pricing after unleaded hit a new, and unexpected, record average high over the weekend. Motoring organisations had forecast a decline in wholesale costs to have been reflected at the pumps, but data from Experian Catalist revealed on Monday that petrol had reached 191.1p a litre
Russia has reportedly missed a deadline to pay investors of its international bonds, a scenario that would place it in default for the first time since the 1917 Bolshevik Revolution. According to the Reuters news agency, some Taiwanese holders of Russian Eurobonds had not received interest due when a grace period expired on Sunday. Moscow
One of HSBC’s top UK executives is quitting in a surprise move to run the Skipton Building Society, one of Britain’s biggest financial mutuals. Sky News has learnt that Stuart Haire, group general manager and chief executive of the London-listed banking giant’s UK personal and private banking businesses, is to become the new CEO of
The father-and-son duo who have built Matchroom Sport into a global sports promotion empire are plotting a deal that will cement their status among Britain’s super-rich. Sky News can reveal that Barry and Eddie Hearn are in detailed talks with at least three private equity firms about the sale of a substantial minority stake in
The global chairman of KPMG has taken a swipe at the $80bn break-up being hatched by rival EY, implying that such a radical restructuring would be akin to an act of corporate vandalism. Sky News has obtained part of a memo sent by Bill Thomas to partners at the firm, reiterating KPMG’s commitment to retaining
London Underground workers have voted to strike again, as they near the end of this week’s action which has seen tube services disrupted across the capital. Around 10,000 London Underground staff refused to work this week – with all tube lines affected. More than 90% of Rail, Maritime and Transport union members who voted decided