Business

Adidas has reached an out-of-court settlement with Kanye West – known as Ye – ending all legal proceedings between them, the sportswear brand has said. Adidas and West had been embroiled in multiple lawsuits for the past two years after the German manufacturer ended a partnership with the rapper over antisemitic comments he made in

Rent has remained unaffordable in England, having been so since records began, the latest official figures show. The typical private sector renter, on a typical wage in England, paid a figure deemed to be unaffordable by the Office for National Statistics (ONS). Renters on a median income – the midpoint between the highest and lowest

Former chancellor Jeremy Hunt has accused the independent fiscal watchdog of “political impartiality” ahead of its review that could be critical of the Conservative government. The previous government has been accused by Rachel Reeves, the current chancellor, of leaving a £22bn financial “black hole” between income and promised spending in the public finances. Ms Reeves

A former chair of one of Britain’s biggest auditors is to step down as chairman of Interpath, the independent advisory firm, because of a potential conflict of interest involving its private equity backer’s choice of auditor. Sky News has learnt that Interpath, which has been engaged by billionaire Sir Jim Ratcliffe on his cost-cutting campaign

Britain’s biggest energy retailers have told ministers that they will provide more than £500m of extra help for households as the government tries to deflect criticism over the winter fuel payments row. Sky News has learnt that EnergyUK, the industry body, is planning to make a joint announcement with the Department for Energy Security and

The Premier League is drawing up plans to present its clubs with fresh proposals for a financial settlement with the English Football League (EFL) as soon as next month. Sky News has learnt that a meeting of the top flight’s shareholders on November 22 is expected to include a discussion on a range of new

Mitie Group, the London-listed outsourcer, has kicked off a search for a successor to Derek Mapp, its long-serving chairman. Sky News has learnt that the FTSE-250 company is working with the search firm MWM Consulting on a hunt for Mr Mapp’s replacement. Potential candidates have started being sounded out in the last few weeks, according

Thames Water has secured a £3bn injection to avoid running out of cash. There were fears the UK’s biggest water supplier, which serves 16 million customers, could have run out of money by Christmas. But the cash injection secures its financial future for at least the next year, or possibly until the end of May

The chancellor will need to spend an extra £20bn by the end of the parliament to maintain public investment at its present levels. Rachel Reeves has promised to unveil a “budget for investment” next week, while reversing the “years of underinvestment” overseen by the previous Conservative government. However, this would involve taking on billions of

Rachel Reeves will rewrite the government’s fiscal rules in next week’s budget to allow her to increase borrowing for public investment by around £50bn. Speaking to Sky News in Washington DC, the chancellor said that the self-imposed rule under which borrowing must be falling by the fifth year of economic forecasts will be redefined from

Frasers Group, the owner of Sports Direct, House of Fraser and Flannels, has written to Boohoo ordering it to sack its chief executive and appoint Frasers founder Mike Ashley instead. Boohoo, the online fast fashion retailer, had ignored a private Frasers request to install Mr Ashley, according to an open letter from Frasers Group to

The owner of fashion chains Whistles and Phase Eight is in advanced talks to buy White Stuff, another prominent high street clothing retailer. Sky News has learnt that The Foschini Group (TFG), the South African-based retailer, is close to concluding a deal to acquire White Stuff and invest in its future expansion. Sources said a

The Treasury is on track to complete the sale of the taxpayer’s stake in NatWest Group as early as the spring of next year as officials consider whether to launch a further placing of shares in the bailed-out bank. Sky News can reveal that based on the current pace of share disposals by UK Government

GoCardless, the digital payments platform, is to become the third British fintech in as many months to orchestrate a share sale that will result in a £100m-plus windfall for its employees. Sky News understands that GoCardless, which was founded in 2011, is in the advanced stages of co-ordinating a secondary share sale. Banking sources said

The International Monetary Fund (IMF) has upgraded its projection for UK growth this year by 0.4% to 1.1% – the largest upward revision for any advanced economy. In a boost to Chancellor Rachel Reeves as she prepares to travel to Washington for the IMF’s annual meeting this week, its latest world economic outlook predicts strengthening

Bonuses to water company bosses rose this year to £9.1m – despite record sewage discharges and financial woes at some utilities. Executives from English and Welsh water firms received a total of £9,126,858 in the 2023/2024 financial year, up from £9,012,777 a year earlier, according to analysis of company filings done by the Liberal Democrats.