The competition watchdog has raised fears that the £6.8bn takeover of Asda could lead to higher petrol prices in some parts of the country. The Competition and Markets Authority, which has the power to block the deal as it did when Sainsbury’s moved to merge with the chain in 2019, has been reviewing the sale
Business
Liverpool manager Jurgen Klopp has said he did not find out about the European Super League until its announcement – and stood by previous comments in opposition to the idea. Speaking on Monday Night Football on Sky Sports, Klopp was asked about comments in 2019 in which he said he hoped such a competition would
Twelve teams have so far confirmed they will be part of a new European Super League competition. Who is involved? The “founding clubs” are AC Milan, Arsenal, Atlético de Madrid, Chelsea, FC Barcelona, FC Internazionale Milano, Juventus, Liverpool, Manchester City, Manchester United, Real Madrid and Tottenham Hotspur. Three more clubs are expected to join before
An American private equity firm is on the verge of making a fifth bid approach for Equiniti, the FTSE-250 company which handles share registrar and other back-office services for some of Britain’s biggest businesses. Sky News has learnt that Siris Capital is this weekend close to renewing efforts to engage the board of Equiniti –
The founder of Revolut is plotting a new fundraising that will value the company at more than $10bn (£7.2bn) and cement his status as one of Europe’s youngest fintech billionaires. Sky News has learnt that the digital lender is lining up FT Partners, the US-based fintech-focused investment bank, to advise it on a new equity-raise
Elon Musk’s private space company SpaceX has won a $2.9bn (£2.1bn) NASA contract to build a spacecraft to put humans on the moon. The tech billionaire’s firm was chosen ahead of Amazon founder Jeff Bezos’ Blue Origin and defence contractor Dynetics Inc. Steve Jurczyk, NASA’s acting administrator, said at a video conference: “We should accomplish
Poundland’s owner is snubbing London to pursue a €4.5bn (£3.9bn) listing in Warsaw after months of deliberations about a flotation that would have further bolstered the ranks of listed retailers on the London stock market. Sky News has learnt that Pepco Group, which trades from more than 3,000 stores across 15 European markets, has decided
The cost of COVID-19 tests for holidaymakers should be cut to £30 to encourage people to start travelling again, a boss at one of Britain’s biggest travel chains has told Sky News. Jonathan Woodall, chief operating officer at Hays Travel, said that the current price of up to £200 for PCR tests was too high
The FTSE 100 has climbed above the 7,000 mark for the first time since the early days of the coronavirus crisis. London’s leading share index rose as industrial, banking and mining stocks made gains on growing optimism about economies reopening and recovering across the world. The FTSE 100 was last above the 7,000 mark in
Amazon founder Jeff Bezos has vowed to make his company a better place for its workers. Mr Bezos was writing in an annual letter to shareholders after a union battle at one of the business’s warehouses in the US state of Alabama. “While the voting results were lopsided and our direct relationship with employees is
Deliveroo has revealed that order numbers more than doubled over the last year – but warned its rapid growth will slow as lockdowns ease. The takeaway delivery platform – whose shares slumped on its much-anticipated stock market debut last month – said orders in the first quarter were up by 114% year-on-year. But the company
The cryptocurrency exchange coinbase started trading on Wednesday at a valuation of nearly $100bn (£72bn), in a major boost to supporters of digital currencies such as bitcoin. Coinbase shares opened at $381 (£276) on the Nasdaq, racing past the $250 reference price, and valuing the exchange at $99.6bn (£72bn). The valuation means that coinbase is
Tesco counted the cost of the COVID-19 pandemic as full-year profits fell by a fifth despite “exceptionally strong” sales growth. Britain’s biggest supermarket group reported pre-tax profits of £825m for the year to 27 February, 19.7% lower than a year earlier even as UK like-for-like sales grew by 7.7% to £39.4bn and online capacity doubled.
Giving a £170m taxpayer bailout to steel tycoon Sanjeev Gupta would have been “completely irresponsible”, the business secretary has told MPs. Kwasi Kwarteng was answering questions from members of the business, energy and industrial strategy committee about Liberty Steel, which is owned by GFG Alliance, the conglomerate headed by Mr Gupta. Sky News revealed in
Goods exports to the EU partially rebounded in February after a record slump at the start of the year, official figures show. The Office for National Statistics (ONS) said sales to the bloc rose by £3.7bn, or 46.6%, having fallen by £5.7bn, or 42%, in January. However imports from the EU, which also saw an
All across England shutters are rattling open, beer is foaming into pint glasses and tills are ringing. For the first time in months, many businesses that have been shut are able – subject to a variety of restrictions – to serve their customers again. From the snip-snip of hair salons to the splash of swimming