Business

Rachel Reeves will this week announce plans to unlock tens of billions of pounds from corporate pension schemes as part of government plans to kickstart economic growth. Sky News has learnt that the chancellor will use a crucial speech on Wednesday to disclose that she wants to use so-called surplus release to boost investment in

WH Smith is in secret talks to sell its entire high street business in Britain more than 230 years after it opened its first shop in central London. Sky News can exclusively reveal that the listed retail group, which has a market capitalisation of almost £1.5bn, has been in negotiations with a number of prospective

The Original Factory Shop (TOFS), the independent discount retail chain, is close to being sold after more than 17 years under the ownership of private equity firm Duke Street. Sky News has learnt that Baaj Capital, a family office which counts In The Style and party supplies group Amscan International among its investments, has emerged

The family behind Lakeland, one of Britain’s most prominent privately held retailers, is exploring a sale after more than 60 years amid growing cost pressures sweeping the industry. Sky News has learnt that Lakeland, which is controlled by the three sons of founder Alan Rayner, has appointed advisers to gauge the appetite of prospective buyers

There has been an “unprecedented” rise in the number of businesses on the brink of insolvency, according to a closely watched report. The latest Red Flag Alert report by Begbies Traynor, an insolvency specialist, showed those in critical financial distress rose by 50% in the three months to December compared to June-August. It said that

The boss of Britain’s biggest mortgage lender has told Sky News he expects three interest rate cuts this year, bringing some relief to borrowers and mortgage holders. Lloyds Banking Group chief executive Charlie Nunn said he anticipates rates will continue to fall gradually thanks to the resilience of household and business finances – but cautioned

Sainsbury’s has revealed plans to cut more than 3,000 jobs. The supermarket said the move was a bid to save money ahead of a £140m leap in costs from budget tax measures, due to come into force within weeks. Head office and senior management roles are among those affected, the chain said, adding that the

Real Madrid have become the first football club to generate more than a billion euros (£845m) in revenue in a single year, topping a financial services company’s league. Winning both LaLiga and the Champions League last season, Deloitte said the Spanish club had overtaken Manchester City to reclaim top spot in its Football Money League.

Chancellor Rachel Reeves has indicated she will overrule environmental objections to a third runway at Heathrow in order to prioritise economic growth, a position likely to bring her into conflict with colleagues including energy secretary Ed Miliband. Speaking as she began a 48-hour pitch to international investors at the World Economic Forum in Davos, Ms

The Treasury borrowed more than expected last month to record the highest December sum for four years, official figures have shown, with higher debt interest payments adding to the bill. The Office for National Statistics (ONS) reported a net borrowing figure for December of £17.8bn when a sum just above £14bn had been expected by

It is no surprise to see a government that claims to be committed to making economic growth a priority giving the green light to expansion of Gatwick Airport and Luton Airport. Nor, for that matter, would it be a surprise for a third runway at Heathrow Airport to be given the go-ahead by Sir Keir

There has been a surge in the pace of wage growth but a rise in the unemployment rate, according to the latest official figures. The Office for National Statistics (ONS) reported that both basic pay excluding bonuses, and average weekly earnings, rose at an annual rate of 5.6% in the three months to November. That

Muslim charities say they are still having their bank accounts closed without warning or explanation and face difficulties opening an account despite the political backlash after Nigel Farage’s high-profile debanking. It means charities face obstacles in carrying out their work, with some even being blocked from providing humanitarian aid and life-saving operations, according to a

Rachel Reeves will hold talks with some of Wall Street’s leading financiers in Davos this week, less than hours after Donald Trump’s second US presidency gets underway. Sky News understands that the chancellor will attend a breakfast hosted by JP Morgan on Wednesday amid speculation about the threat of US tariffs being imposed on the

TikTok has begun restoring service to the app in the US after Donald Trump said he would sign an executive order pausing its ban. A law signed by President Joe Biden last April required ByteDance, TikTok‘s China-based parent company, to sell the app to a non-Chinese owner by Sunday or face a ban. Some users

The private equity owner of Asda has struck a deal to buy a controlling stake in a group which specialises in backing British SMEs. Sky News has learnt that TDR Capital has agreed to acquire a majority interest in CorpAcq, less than six months after the so-called ‘corporate compounder’ aborted a deal to list in