Business

Britain’s new National Wealth Fund has struck a £1bn deal with two of Britain’s biggest high street lenders to retrofit thousands of homes to upgrade their energy-efficiency. Sky News has learnt that the government-backed vehicle has agreed with Barclays and Lloyds Banking Group to provide partial guarantees on loans to housing associations across Britain. An

The parent company of PizzaExpress is hiring bankers to help it refinance a £335m bond ahead of its maturity, amid tough trading conditions for casual dining operators. Sky News has learnt that Wheel Topco is close to appointing PJT Partners, the investment bank, to advise it on talks with its debtholders. PizzaExpress trades from 359

A trio of buyout firms have been shortlisted to buy a stake in the UK operations of Grant Thornton, one of Britain’s six biggest accountancy firms. Sky News has learnt that Cinven, EQT and New Mountain Capital – the backer of Grant Thornton’s US business – have made the cut in a process that could

The CBI, the struggling business lobbying group, is in talks to sub-let parts of its vast London headquarters as it continues to seek cost-cutting opportunities in the wake of last year’s near-collapse. Sky News has learnt that the CBI has approached some of its trade association members to gauge their appetite to lease parts of

Scrutiny of Thames Water, the crisis-hit utility, will intensify this week when the industry regulator appoints LEK Consulting as an independent monitor of the company. Scrutiny of Thames Water, the crisis-hit utility, will intensify this week when the industry regulator appoints LEK Consulting as an independent monitor of the company. Sky News has learnt that

Rachel Reeves has said she “wouldn’t have any problems” getting on a P&O ferry following the fire-and-rehire scandal. The chancellor was asked to clarify her position after criticism by her colleagues almost derailed a planned investment announcement from the travel operator’s owner ahead of a crucial summit. Politics latest: Ex-Google boss tells PM what’s blocking

The prime minister will pledge to get rid of regulation that “needlessly holds back investment” at a major business conference in London today. The International Investment Summit will comprise more than £50bn of deal announcements – or roughly twice the £28bn unveiled at the previous comparable gathering held under the former Conservative administration, Sky News’

The government will on Monday welcome more than £50bn of investment in the British economy as Sir Keir Starmer tries to reset his administration after a first hundred days market by scandal and infighting. Sky News has learnt that the International Investment Summit in the City of London will comprise more than £50bn of deal

A £1bn investment in Britain by port operator DP World will go ahead as planned, after a frantic effort by ministers and diplomats to repair relations following a row with the Dubai-owned multinational that threatened to overshadow a crucial investment summit. On Friday, Sky News revealed that the planned investment was under review and that

The boss of the company that owns P&O Ferries will attend an investment summit in the UK despite the transport secretary’s scathing criticism, which included calls for a boycott of the shipping firm. Sky News understands Sultan Ahmed bin Sulayem, chief executive of Dubai-based DP World, will join the government’s Investment Summit on Monday. It

Post Office boss Nick Read has admitted his attempts to get a pay rise while victims were still waiting for compensation “looks very poor”. Giving evidence on his third and final day at the inquiry into the Horizon scandal, the outgoing chief executive denied trying to get more money “interfered” with his ability to carry

The government’s Investment Summit has suffered a major blow after ports and logistics giant DP World pulled a scheduled announcement of a £1bn investment of its London Gateway container port, following criticism by a member of Sir Keir Starmer’s cabinet. Sky News understands the Dubai-based company’s investment was due to be a centrepiece of Monday’s

The Post Office’s outgoing CEO today agreed the government is using the company as a “shield” over compensation schemes, while giving evidence at the inquiry. Nick Read, who resigned last month, was giving evidence at the Post Office Horizon IT Inquiry for the second day, with a focus on delays to victims’ financial redress. Edward

Jonathan Reynolds, the business secretary, has axed government advisers including the founder of Anya Hindmarch, the boss of Universal Music Group and a former Lord Mayor of the City of London, it has emerged just days before Labour’s flagship investment summit. Sky News understands that Mr Reynolds wrote to members of the Board of Trade

The outgoing boss of the Post Office has said he does not need to clear his name following criticism of his leadership over the Horizon IT scandal. Nick Read made the comments as he arrived for the first of three days of evidence to the inquiry into the scandal, in which more than 900 sub-postmasters

Lenders holding £12bn of Thames Water’s debt have held face-to-face talks with Ofwat this week to pitch a rescue deal that they believe would avert the nationalisation of Britain’s biggest water utility. Sky News has learnt that a creditor group advised by Jefferies, the investment bank, met officials from the industry regulator on Tuesday to

Investors managing more than £9trn in assets have backed a more “competitive” approach to British boardroom pay amid a growing debate about London’s attractiveness as a listing destination. Sky News has learnt that the Investment Association (IA), the influential industry trade body, will publish on Wednesday a revised set of remuneration principles aimed at the

Water firms in England and Wales have been ordered to return £157.6m to customers due to their poor performance. Ofwat said the rebate would come off bills for households and businesses in 2025-26. Last year, the water regulator ordered firms to repay £114m as part of a similar move. It comes as water bills in

A big four audit firm and one of Britain’s high street banks have resumed their membership of the CBI, delivering a boost to the scandal-hit lobbying group’s hopes that it can recover its long-standing influence in government. Sky News has learnt that KPMG and NatWest Group returned to being full members of the CBI this

A US Air Force Reserve brigadier-general will this week unveil a $5m funding boost for her British-based quantum computing start-up. Sky News understands that Mandy Birch, who is also an adviser to the UK’s National Quantum Computing Centre, has secured the capital for TreQ, a manufacturing company focused on building and operating open-architecture quantum computers.