Business

Cambridge University’s wealthiest college is putting the long-term lease of London’s O2 arena up for sale. Sky News has learnt that Trinity College has instructed property advisers to begin sounding out prospective investors about a deal. Trinity, which ranks among Britain’s biggest landowners, acquired the site in 2009 for a reported £24m. The O2, which

Gas and electricity bills will become even more expensive in January, as the energy regulator Ofgem ups the price cap. A typical yearly bill will be £1,738 from January, an increase of 1.2%. For billpayers, it means an extra £21 a year or around £1.75 a month. It’s another blow as falls in prices had

Nine water companies have been blocked from using customer money to fund “undeserved” bonuses by the industry’s regulator. Ofwat said it had stepped in to use its new powers over water firms that cannot show that bonuses are sufficiently linked to performance. The blocked payouts amount to 73% of the total executive awards proposed across

Nvidia, the chipmaker driving the boom in artificial intelligence (AI), has seen fresh falls in its share price following an earnings report amid continued supply chain constraints. Its third quarter trading update showed demand for its top generative AI chips would continue to outstrip supply for at least a year. Some would argue it is

Ford has announced plans to cut 4,000 jobs across Europe – including 800 in the UK. The car manufacturer said the cuts are needed as part of plans to bolster its competitiveness amid the stuttering drive to an all-electric vehicle (EV) future that has hit sales. Ford said the cuts would take place over the

Inflation has risen by more than expected due to an increase in energy bills, official figures showed. It’s the first rise in the rate of price increases, as measured by the consumer prices index (CPI), for three months. The figure stood at 2.3% in October, according to the Office for National Statistics (ONS), above the

The Bank of England governor has said industry lobby group the British Retail Consortium (BRC) was right to warn of job losses as a result of the budget. There is a “risk” of unemployment rising due to increases in employers’ national insurance contributions and minimum wage rises announced by Chancellor Rachel Reeves last month, Andrew

Four suspects have so far been identified by police investigating possible criminal charges in the Post Office scandal, Sky News has learned.  Sources have said that among the offences being considered are perverting the course of justice and perjury. Hundreds of sub-postmasters were wrongly prosecuted for stealing from their branches between 1999 and 2015 after

Dozens of retail bosses have signed a letter to the chancellor warning of dire consequences for the economy and jobs if she pushes ahead with budget plans which, they say, will raise their costs by £7bn next year alone. There were 79 signatories to the British Retail Consortium’s (BRC’s) response to Rachel Reeves’ first budget

Cineworld’s hedge fund backers are drawing up plans to return the cinema operator to the public markets amid continuing uncertainty about the future of dozens of its British sites. Sky News has learnt that the company’s owners are at the early stages of considering a New York listing for the business, with the first half

Sir Keir Starmer has said he intends to pursue a “pragmatic” relationship with China when he meets President Xi Jinping at the G20 summit. The prime minister said the size of China’s economy and its membership of the UN security council meant he wanted to have “serious and pragmatic discussions” with the Chinese leader during

A former Conservative cabinet minister has thrown his hat into the ring to become the inaugural chair of Britain’s new independent football regulator. Sky News has learnt that Chris Heaton-Harris, who stood down as an MP at July’s general election, is among those who applied for the role ahead of a deadline on Friday. Mr

Pizza Hut’s biggest UK franchisee has begun approaching potential bidders as it scrambles to mitigate the looming impact of tax hikes announced in last month’s Budget. Sky News has learnt that Heart With Smart (HWS), which operates roughly 140 Pizza Hut dine-in restaurants, has instructed advisers to find a buyer or raise tens of millions

The former head of Britain’s audit watchdog is being lined up as the next chairman of high street billionaire Mike Ashley’s London-listed retail empire. Sky News has learnt that Sir Jon Thompson, who joined the board of Frasers Group earlier this year as a non-executive director, is expected to take over from David Daly at

The UK economy grew by 0.1% between July and September, according to the Office for National Statistics (ONS). However, despite the small positive GDP growth recorded in the third quarter, the economy shrank by 0.1% in September, dragging down overall growth for the quarter. The growth was also slower than what had been expected by

Chancellor Rachel Reeves has criticised post-financial crash regulation, saying it has “gone too far” – setting a course for cutting red tape in her first speech to Britain’s most important gathering of financiers and business leaders. Increased rules on lenders that followed the 2008 crisis have had “unintended consequences”, Ms Reeves will say in her