Business

Three members of the quintet that founded M&C Saatchi nearly 30 years ago have placed a £1m bet on the revival of the advertising agency’s fortunes. Sky News has learnt that David Kershaw, Bill Muirhead and Jeremy Sinclair, have collectively invested the sum in M&C’s London-listed stock. It takes their combined stake to about 6%

A trio of former Deliveroo executives have secured investment for a new property search engine start-up backed by a Google artificial intelligence fund. Sky News understands that Jitty will announce this week that it has raised $2m from investors led by Gradient Ventures, an AI fund established by the global technology behemoth. Jitty, which will

“When the time comes, disconnect the main flex cable.” Besides being a short guy named Tom, I never felt I had any sort of Mission: Impossible credentials until I donned safety googles and got handed a screwdriver and plastic scalpel at what’s thought to be the UK’s biggest phone recycling factory. Fixing the screen on

The owner of HMV has approached a number of debt providers to back a last-gasp rescue bid for Wilko, the ailing high street retailer. Sky News understands that Doug Putman has sounded out firms including Gordon Brothers and Hilco – from which he bought HMV in 2018 – about helping to finance an offer for

The former owners of The Daily Telegraph have lined up hundreds of millions of pounds from Middle Eastern investors in a bid to wrest back control of the newspaper from Britain’s biggest high street bank. Sky News can exclusively reveal that the Barclay family lodged a proposal last week to buy back roughly £1bn of

Rail services across England will be crippled today because of another strike in the deadlocked dispute over pay, jobs and conditions. Around 20,000 members of the Rail, Maritime and Transport (RMT) union at 14 train operators are expected to join the walk out. Trains will start later on Saturday and finish earlier and some areas

The energy regulator has confirmed a cut to its price cap that will see average household bills come down this autumn, as experts continue to warn of hikes to come during the winter months. Ofgem said the typical household paying by direct debit for gas and electricity faces an annual charge of £1,923 from October

Consumer confidence has grown again, with positive signs ahead for the UK economy, a survey says. But the picture still remains negative, according to a closely watched index of shopper sentiment. The figures, by research group GfK, suggest consumer demand has been resilient to the shocks of rising prices and more expensive borrowing. The long-running

A group of trading nations known as BRICS, which is hoping to rival the G7, is set to grow in size after inviting six new countries to join – including Iran and Saudi Arabia. BRICS – which has, until now, comprised of Brazil, Russia, India, China, and South Africa – announced the proposed expansion at

The US tech firm that dominates the market for chips used in artificial intelligence (AI) has delighted investors with a doubling in quarterly revenue, promising more of the same in future. Nvidia shares gained almost 10% in after-hours trading in New York on Wednesday night when it revealed a string of numbers that beat analysts’

Fears for thousands of retail jobs at the ailing chain Wilko deepened on Wednesday evening when trade union officials warned that the majority of its shops were likely to close within days. Sky News has learnt that administrators at PricewaterhouseCoopers (PwC) are in advanced talks to carve up parts of the 400-strong chain, with Poundland’s

Falling house prices and record wage growth has meant houses have become more affordable on paper, but the rising cost of borrowing has cancelled out any benefit. The cost of a typical UK home is 6.7 times average earnings, down from a peak of 7.3 last summer, according to analysis from the country’s biggest mortgage

A former head of the group that enables the top oil-producing countries to cooperate and influence the global oil market has been charged with bribery offences.  Diezani Alison-Madueke, the ex-president of the Organisation of the Petroleum Exporting Countries (OPEC) and a key figure in the Nigerian government between 2010 and 2015, was charged after a

Bosses of some of the UK’s biggest companies had their pay increased to 118 times the median wage of a full time UK worker, up from 108 times the average rate a year earlier. Median pay for chief executives of FTSE 100 share index companies grew to £3.91m in 2022, the highest level since 2007.

Shares in UK housebuilders have taken a fresh hit on the latest woes to hit the sector including a profit warning from a major player. Crest Nicholson shares plunged almost 15% at the start of Monday’s trading after it slashed adjusted pre-tax profit expectations for the year to October by more than 40% to £50m.

Ben Stokes, the England Test cricket captain, and former team-mate Stuart Broad are among a group of leading sportsmen backing a new venture capital fund targeting a distinctive position in the crowded arena of early-stage investments. Sky News can reveal that two of the pivotal figures in England’s recent Ashes series recovery to draw the