Business

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.

The prospects of a rescue deal being struck for a British hypersonic aviation pioneer appeared to recede this weekend when it emerged that talks with a Gulf-based state fund had stalled. Sky News has learnt that negotiations between Reaction Engines and the UAE’s Strategic Development Fund, the investment arm of the UAE’s Tawazun Council, about

The health secretary has warned of “difficult and big choices” coming in the budget, while refusing to rule out that tax thresholds will be frozen. Wes Streeting told Sky News’ Sunday Morning with Trevor Phillips programme the government “can’t fix 14 years in one budget” and there are lots of choices “we will have to

Ministers are exploring plans to hand ownership of the Post Office to thousands of sub-postmasters across Britain in an historic shake-up at the 364 year-old institution. Sky News has learnt that the Department for Business and Trade (DBT) has asked BCG, the management consultancy, to examine options for mutualising the Post Office. The work is