Business

An American investment firm has joined forces with one of the remaining bidders for Cala Group, the privately owned housebuilder which has been put on the market. Sky News understands that Sixth Street has teamed up with Patron Capital Partners – Cala’s former owner – in an effort to trump a rival offer from Persimmon,

Stock markets globally are feeling the pain of a US-led slump that was sparked by renewed concerns for the country’s economy and artificial intelligence-linked values. The darling of US stocks since 2019, AI chipmaker Nvidia, saw its shares plunge almost 10% on the back of poorly received earnings growth last week. Other tech stocks in

Senior business leaders have welcomed discussions with Angela Rayner over proposals to improve workers’ rights as “positive”, but warned the “devil will be in the detail” of legislation due to be put before Parliament next month. The deputy prime minister and business secretary, Jonathan Reynolds, met the bosses of major employers including John Lewis, Octopus,

American tech giant Hewlett Packard has said it is to continue with legal proceedings “through to their conclusion” to seek up to £3bn in damages from late British billionaire Mike Lynch’s estate in the UK. The company had been seeking compensation over its acquisition of British tech firm Autonomy amid claims of fraud masterminded by

Legal powers introduced since the Grenfell Tower fire to force building owners to fix serious fire safety issues are being ignored, Sky News can reveal. One of the UK’s first Building Remediation Orders, issued by a judge last year, gave the owners of a block of flats in Bristol six months to fix serious fire

Labour is facing a drop off in confidence among business leaders amid plans for tax rises and improvements to workers’ rights, according to a survey. The Institute of Directors (IoD) had noted a leap in optimism in July among its membership as the new government came to power. But its latest economic confidence index showed

A full-fibre broadband builder is accelerating its search for merger partners amid growing financial strains on some of the industry’s smaller players. Sky News understands that Zzoomm, which is backed by the giant US-based investor Oaktree Capital Management, has drafted in Acuity Advisors, a specialist technology firm, to identify prospective deals. Zzoomm operates in nearly

A British hypersonic aviation campaign which has been hailed as a successor to Concorde is this weekend racing to avert collapse. Sky News has learnt that Reaction Engines has lined up PricewaterhouseCoopers (PwC), the accountancy firm, to act as administrator if its quest to secure new funding is unsuccessful. The company is understood to be

GE, one of the world’s best-known conglomerates has swooped to buy a British climate technology start-up in its quest to reduce the aviation industry’s environmental impact. Sky News has learnt that GE Aerospace has struck a deal to buy Satavia, a Cambridge-based company which helps to mitigate the warming effect of aircraft contrail clouds. Founded

The government’s plan to ban smoking in pub gardens and other outdoor venues is a “sensible approach” to help people stop, a minister has said. Sir Keir Starmer confirmed leaked reports on Thursday his government is considering the smoking ban, which would also include outdoor restaurants and outside sports venues, hospitals, nightclubs, and in some

The number of mortgages approved reached a near two-year high, according to Bank of England figures, as hopes of cheaper borrowing encouraged would-be buyers. Mortgage approvals increased to 62,000 in July, a level not seen since September 2022, a sign that buyers were waiting for hopes of reduced interest rates and the associated lower mortgage

House prices are now growing at the fastest annual rate in nearly two years, the UK’s largest building society has said, with rises expected to continue. In the year up to August, houses became 2.4% more valuable with the average property costing £265,375, according to Nationwide. But prices are still below the all-time highs recorded

The government will not defend the legal challenges brought against plans to develop the UK’s largest untapped oil and gas field and a second North Sea site. Rosebank, 80 miles west of Shetland, contains around 300 million barrels of oil and is the UK’s last major undeveloped oil site. It is twice the size of

Smoking could be banned in pub gardens, outdoor restaurants and outside stadiums, according to reports. The measures are currently being considered by ministers according to The Sun newspaper. Smokers would also been prohibited from lighting up outside sport venues, nightclubs and in small parks, the newspaper said – citing “secret Whitehall papers”. Read more:How would

The water industry has warned that firms will be unable to deliver reforms such as stopping sewage outflows without even greater bill rises, with crisis-hit Thames seeking more cash from customers than it originally proposed. A letter from industry trade association Water UK to Ofwat set a collision course between them as firms covering England

The owner of Ted Baker will on Wednesday announce that it has struck a deal with an American group to re-establish an online presence in the UK, days after its remaining retail stores were shut for good. Sky News has learnt that Authentic, which has owned Ted Baker since 2022, has struck a deal with

One in two LGBT+ employees are facing “shockingly high levels” of bullying and harassment at work, a survey has found.  A survey of 1,000 LGBT+ people by the TUC suggested one in five lesbian, gay, bisexual and trans people had been exposed to verbal abuse at work in the last five years. More than a

Shop prices have come down for the first time in nearly two years, according to industry data. Goods in UK shops cost 0.3% less in August than a year ago, figures from industry body the British Retail Consortium (BRC) showed. The price fall is due to discounts on summer clothing and other seasonal household goods.

The leading contender to buy Everton Football Club is preparing to launch within days a plan to take his sports and technology holding company public at a valuation of over $2bn. Sky News has learnt that John Textor, an American businessman, is to file documents with US regulators that will see Eagle Football Holdings become

Unilever, the FTSE-100 consumer goods behemoth behind Marmite and Lynx, is trying to slim its portfolio of personal care brands by putting two of them up for sale. Sky News has learnt that Unilever is working with advisers on the disposal of Kate Somerville, an upscale skincare brand it acquired in 2015. City sources said