Business

The London Stock Exchange is preparing to do battle for one of Europe’s biggest initial public offerings for years as Verisure, the domestic security systems provider, kicks off plans for a flotation valuing it at more than €20bn (£16.7bn). Sky News has learnt that Verisure’s owner, the private equity firm Hellman & Friedman (H&F), is

Making Britain better off will be “at the forefront of the chancellor’s mind” during her visit to China, the Treasury has said amid controversy over the trip. Rachel Reeves flew out on Friday after ignoring calls from opposition parties to cancel the long-planned venture because of market turmoil at home. The past week has seen

The pound has come under renewed pressure at the end of a torrid week for the UK currency, falling to fresh 14-month lows against the dollar. Sterling lost almost a cent, to stand just above $1.22 at one stage, on the back of higher support for the greenback after US employment data came in much

The price of resale tickets could be capped under plans to stop the public being “fleeced” by professional touts, the government has announced. The limit could range from the cost of the original ticket to a 30% uplift, with a consultation to be launched on the specifics of the measure. Some in No 10 ‘a

An intervention by the chancellor to help shore up flagging financial market confidence in the UK economy has been ruled out by the government, amid further declines in the value of the pound. Sterling fell to its lowest level against the dollar since November 2023 early on Thursday, building on recent losses. A toxic cocktail

Bim Afolami, the former City minister, is to return to HSBC – the bank he worked for before he embarked on a career in politics – in a boardroom role. Sky News has learnt that Mr Afolami, who lost his Hitchin seat at last year’s general election, is to become a non-executive director of the

How worried should Rachel Reeves be about the fact that the interest rates on government bonds have leapt to the highest level in more than a quarter of a century? More to the point, how worried should the rest of us be about it? After all, the interest rate on 30-year government bonds (gilts, as

A representative for one of the world’s biggest fast fashion retailers, Shein was unable to answer questions from MPs over where it sources its cotton from. Shein’s general counsel for Europe Middle East Africa (EMEA) Yinan Zhu was asked if the company sells products containing cotton from China, mainly the region of Xinjiang, where China

UK long-term borrowing costs have hit their highest level since 1998. The unwanted milestone for the Treasury’s coffers was reached ahead of an auction of 30-year bonds, known as gilts, this morning. The yield – the effective interest rate demanded by investors to hold UK public debt – peaked at 5.21%. At that level, it

Shop prices will rise in 2025 as the key Christmas trading period failed to meet retailers’ expectations, according to industry data. Shop sales grew just 0.4% in the so-called golden quarter, the critical three shopping months from October to December, according to the British Retail Consortium (BRC) and big four accounting company KPMG. Many retailers

More than half of private sector firms are planning price hikes to help offset looming tax increases announced in the chancellor’s first budget , according to a corporate lobby group. The British Chambers of Commerce (BCC) warned business confidence was at its lowest level since the market meltdown that followed the Conservatives’ mini budget of

A television network majority-owned by David Montgomery, the media entrepreneur, is to snap up the licence to operate a London-focused TV station from Lord Lebedev, owner of the capital’s weekly Standard newspaper. Sky News has learnt that Local TV Ltd, which was acquired by Mr Montgomery in 2017, is close to announcing a deal to

Outside it is the bleak midwinter. We are smack bang in the middle of some of the country’s best agricultural land. But inside the cavernous warehouse where we’ve come, you wouldn’t have a clue about any of that: there is no daylight; it feels like it could be any time of the day, any season

The owners of Shawbrook Group, the mid-sized British lender, are drawing up plans to kickstart London’s moribund listings arena with a stock market flotation, valuing it at more than £2bn. Sky News has learnt that BC Partners and Pollen Street Capital, which took Shawbrook private in 2017, are close to appointing Goldman Sachs to oversee

Tide, the business banking services platform, has hired advisers to orchestrate a fresh share sale as it pursues rapid growth in the UK and overseas. Sky News understands that Tide has been holding talks with investment banks including Morgan Stanley about launching a primary fundraising worth in excess of £50m in the coming months. The

Donald Trump has said the UK is making “a very big mistake” in its fossil fuel policy – and should “get rid of windmills”. In a post on Friday on his social media platform, Truth Social, Mr Trump shared news from November of a US oil producer pulling out of the North Sea, a major