Business

The founder of Cazoo, the fledgling online car retailer, is weighing a merger with a ‘blank cheque’ company involving some of the best-known names in American finance and technology that could value it at as much as $8bn (£6bn). Sky News has learnt that Alex Chesterman, who set up Cazoo just two years ago, has

Mike Ashley’s Frasers Group has branded the chancellor’s new business rates holiday “near worthless” for larger firms and is an obstacle to it taking on old Debenhams shops. The Sports Direct and House of Fraser owner said the £2m limit on the amount of relief a company can claim means it will have to review

Philip Jansen, the chief executive of BT Group, gave boardroom colleagues an ultimatum over his own future that led to the departure this week of the company’s chairman, Jan du Plessis. Sky News has learnt that Mr Jansen told fellow directors of the telecoms giant over a period of several months that he had become

On The Beach (OTB), one of Britain’s biggest online travel agents, will on Friday appoint Justine Greening, the former Conservative minister, to its board. Sky News has learnt that Ms Greening, who served as transport secretary for a year during the 2010-15 coalition administration, will join the London-listed company as a non-executive director. It will

Rishi Sunak “isn’t really levelling with people” about painful cuts that will be needed to repair the public finances, according to budget analysis by a respected economic think-tank. Institute for Fiscal Studies (IFS) director said “Santa Sunak… looks more like Scrooge Sunak” under plans for a squeeze totalling more than £50bn compared to the pre-pandemic

Here are the key points from Chancellor Rishi Sunak’s budget speech: • Government will continue doing “whatever it takes” to support British people and businesses as well as starting to fix public finances and beginning to build the future economy • Economy expected to return to pre-COVID levels by the middle of next year, six

Furlough will be extended until the end of September, the chancellor will announce, as he unveils more support for workers and the self-employed.  Ahead of the budget, Rishi Sunak has revealed that millions of workers will continue to have 80% of their wages paid until the end of September. More than 600,000 additional people, including

It’s a long time ago and a lot has happened since then but can you remember how much money Rishi Sunak set aside to spend on COVID-19 in last year’s budget? I’ll give you a clue: the amount this country has now spent on coronavirus is close to £280bn and still rising. OK… as clues

What’s going to be in the budget? A lot of the big announcements have already been revealed, leaked, or guessed at. Here’s what to expect: HOUSINGA mortgage guarantee scheme will help home buyers purchase properties worth up to £600,000 with a deposit of just 5% with the government underwriting the other 95%.Rishi Sunak could also

Rishi Sunak should use this Budget to ditch the government’s pensions triple lock, lift taxes on older voters and should be wary of raising corporation taxes, according to former chancellor Ken Clarke. The intervention from Lord Clarke carries some weight, since he was the chancellor who introduced tough spending limits and tax rises in the

Chancellor Rishi Sunak has been told by MPs that “now is not the time for tax rises” – though a moderate hike in corporation tax could help the government without damaging growth. A report from the Treasury select committee acknowledged that the public finances are on an “unsustainable” path long term but argued that it

A £5bn grant scheme to help pubs, restaurants and retailers hit hardest by lockdown restrictions is set to be unveiled by the chancellor in Wednesday’s budget. Rishi Sunak is also planning to support first-time buyers by incentivising lenders to accept deposits of just 5% for properties up to £600,000. The chancellor has warned hard decisions

Guildford High Street, with its pretty cobbled streets, chi chi shops and historical architecture, is the perfect example of an affluent commuter suburb. But even this pleasant corner of Surrey hasn’t been immune from the economic shock of the pandemic. The Hair and Beauty Bar has been a staple on the High Street for 21

Britain’s second-richest family is exploring plans to join a wave of “blank cheque” mergers in a move that could see another major UK electric vehicle manufacturer going public in the US. Sky News has learnt that Ashok Leyland, the Indian-listed group controlled by the Hindujas, is working with bankers on a potential merger of Switch

Chancellor Rishi Sunak has warned that Britain’s public finances will face “enormous strains” in the wake of the latest national lockdown. Ahead of Wednesday’s Budget announcement, Mr Sunak told the Financial Times a bill for the government’s £280bn investment in coronavirus support will eventually have to be paid, with low interest rates leaving the nation’s

NatWest Group is braced for the government to further delay its target date for returning the lender to full ownership, raising the prospect that it could face almost 20 years as a partially nationalised company. Sky News understands that the Treasury is likely to confirm alongside Rishi Sunak‘s Budget next week that its ambition of