Business

The Body Shop was an innovative, fiercely ethical and thriving part of the British high street for almost five decades. To enter a store was an assault on the senses from colour to exotic names and fragrances. We had never seen the like before. Though confirmation on Tuesday that the UK arm had been placed

Bitcoin has returned to the $50,000 level for the first time since December 2021, riding on the coat tails of a wider rally for US stocks. The world’s largest cryptocurrency, which hit one-month highs last Friday, maintained its momentum on Monday by rising almost 5%. Rivals, such as ether, saw similar percentage moves. Analysts credited

Macquarie, the Australian banking giant, is closing in on a deal to buy a big stake in the wholesale arm of TalkTalk Telecom, one of Britain’s biggest consumer broadband providers. Sky News has learnt that Macquarie could sign an exclusivity agreement as soon as this week that would pave the way for a transaction with

The UK arm of The Body Shop has entered administration, threatening jobs and stores. As first reported by Sky News, FRP Advisory has been brought in to handle an insolvency process just weeks since the new owners took control of the cosmetics retailer. The Body Shop has roughly 200 outlets across the UK. Inflation to

Bosses of water companies responsible for illegal sewage spills are to face a ban on their substantial bonuses after years of campaigns and public outrage.   Environment Secretary Steve Barclay announced payouts would be blocked to chiefs who oversee the polluting of rivers, lakes, and seas – starting with bonuses in the financial year starting

NatWest Group is preparing to pay out about £350m in staff bonuses as the government draws up plans for a retail share offer that could drastically reduce the state’s remaining stake in the bailed-out lender. Sky News has learnt that NatWest is finalising proposals for the bonus pot ahead of annual results this week that

Adnams, one of the most historic names in British brewing, has drafted in City advisers to raise new funding amid a deluge of insolvencies across the sector. Sky News has learnt that Adnams is working with Alvarez & Marsal (A&M) on a range of options to shore up its finances. People close to the situation

The new owners of The Body Shop are lining up administrators for its British arm just weeks after taking control of the cosmetics retailer, in a move which could threaten significant numbers of shops and jobs. Sky News has learnt that the company founded by Anita Roddick and her husband Gordon nearly half a century

The Premier League is facing a fresh battle over changes to rules governing commercial deals between related parties after it was warned by a club that the proposals were unlawful. Sky News has learnt that the 20 top-flight clubs, which include Arsenal, Brentford, Chelsea and Manchester United, were notified on Thursday that one of them

Tesco has announced the sale of its banking arm to Barclays in a deal worth up to £1bn. The UK’s largest retailer, which had been in discussions with other major lenders including HSBC and Lloyds, said all 2,800 staff at Tesco Bank would transfer to Barclays under the agreement over time. Hundreds of other workers

Labour has finally confirmed it is ditching a flagship pledge to spend £28bn-a-year on green investments if it wins the next general election. The party says it will now spend just £23.7bn on environmental schemes over the course of its first term in office – equivalent to just under £5bn a year. However, Labour insists

There has been a jump in the number of properties falling behind with mortgage payments, according to industry figures that also show an 11% rise in repossessions of buy-to-let (BTL) properties. UK Finance said cost of living pressures and higher interest rates continued to take a toll on borrowers over the final three months of

The world’s largest offshore wind developer has scaled back development targets and announced hundreds of job cuts as the renewable industry struggles under the pressure of rising costs. Orsted, the company developing the Norfolk coast windfarm, Hornsea 3, also suspended shareholder payments in an effort to strengthen its balance sheet. In common with the industry

The culture secretary will hold talks this week with the Premier League and its 20 clubs amid the continuing impasse over a financial redistribution deal for English football. Sky News has learnt that Lucy Frazer will attend a dinner on Thursday evening with executives from the top-flight clubs, as well as Alison Brittain, the Premier

Four key bolts were missing from the door that blew off an Alaska Airlines plane in mid-air, according to a preliminary report from a US regulator. The door plug had been removed to fix rivets damaged in production, the initial report said. The investigation was commenced by the investigative agency National Transportation Safety Board (NTSB)

Retailers suffered a “lacklustre” January as bad weather and cost of living pressures discouraged shoppers from opening their wallets after Christmas, according to new research. Total retail sales across the UK increased by only 1.2% year-on-year in January – down sharply from growth of 4.2% during the same period last year, figures from the British