Business

The Premier League is asking clubs to support phasing out shirt sponsorship by gambling companies in a last-ditch effort to avert a government-imposed ban. Sky News has learnt that the Premier League contacted clubs on Monday to propose a resolution that would see betting companies disappear from teams’ shirts within the next three years. Under

Labour shortages on British farms have left tonnes of food unpicked, costing millions of pounds and pushing food inflation as high as 20% at the farm gate, the agriculture industry has told Sky News. Farmers say this year’s harvest has been hit by a shortfall in the overall number of seasonal worker visas granted by the

A shake-up of childcare rules will be announced this week, aiming to save money for hundreds of thousands of families by allowing staff to look after more children. The government plans to increase the number of two-year-olds who can be cared for by one adult in a nursery from four to five, billed as helping

A family-run industrial group is to change hands for £400m, giving a much-needed boost to a deals market slowing down amid growing economic anxiety. Sky News has learnt that Triton Partners is on the verge of an agreement to acquire O’Connor Utilities Group, which is based in Manchester. An industry source said a deal could

Homeowners could soon be taking out 50-year mortgages to then be passed on to their children when they die, under new plans being considered by the government. The Japanese-style lending agreements could see people being able to buy a home with little or no expectation of completing mortgage repayments during their lifetime. Instead the property

The governor of the Bank of England is opposing plans drawn up by the Treasury that would allow ministers to overrule financial watchdogs on key areas of City regulation. Sky News has learnt that Andrew Bailey has expressed disquiet about a so-called ‘call-in power’ that will be included in the Financial Services and Markets Bill,

Tom Glick, a former executive at Manchester City FC’s parent company, is to take over the day-to-day running of Chelsea Football Club in the wake of its £2.5bn takeover. Sky News has learnt that Mr Glick’s appointment could be announced within days by Chelsea’s new owners, although it remained unclear on Friday whether he would

Klarna, the buy-now-pay-later credit provider, is trying to finalise a fresh capital injection likely to value it at less than $10bn – just 20% of its worth only two years ago. Sky News has learnt that the Swedish company has asked investors to commit in the coming days to a fundraising that is expected to

Aston Martin has said it is considering multiple funding options following reports that Saudi Arabia’s sovereign wealth fund was lining up a possible investment worth hundreds of millions of pounds. Responding to the reports, the luxury carmaker said that it was keeping all “funding options under review,” amid uncertainty around the company’s future. Aston Martin’s

Talks between Network Rail and the RMT have resumed with the union warning it will announce more strike dates if the rail bosses press ahead with a consultation on compulsory redundancies. The two sides met for the first time since a national strike last week against the backdrop of Friday’s deadline for Network Rail to

Thames Water is to tap shareholders for £1.5bn of new equity in an effort to accelerate its transformation plan, months after it was hit by the latest in a string of regulatory fines. Sky News has learnt that Britain’s biggest water utility is expected to announce on Thursday that its existing investors have agreed to

A two-year extension of tariffs on some foreign steel has been revealed by the government in a bid to protect domestic producers, despite pleas from manufacturers for help to grow imports because of a domestic steel shortage. International Trade Secretary told MPs “safeguards” would remain on 15 major categories of imported steel in total, because

Hilco, the specialist retail investor, is closing in on a takeover of Cath Kidston, the modern vintage brand recently put up for sale by the owner which bought it out of administration just two years ago. Sky News has learnt that Hilco, which has owned an array of prominent high street names over the last

The international money-transfer service WorldRemit has become the latest fintech unicorn to take an axe to its workforce, as tumbling valuations force founders onto a survival footing. Sky News has learnt that Zepz has let go scores of employees in recent months in a move that reduced its global employee numbers to approximately 1,000. News

Four Seasons Health Care, one of Britain’s biggest care home operators, is putting the bulk of its operations up for sale three years after its holding companies fell into insolvency amid an impasse over its massive debt pile. Sky News has learnt that administrators to Four Seasons have appointed the property agent Christie’s to oversee

Petrol retailers have been accused of forcing “rocket and feather” pricing after unleaded hit a new, and unexpected, record average high over the weekend. Motoring organisations had forecast a decline in wholesale costs to have been reflected at the pumps, but data from Experian Catalist revealed on Monday that petrol had reached 191.1p a litre

One of HSBC’s top UK executives is quitting in a surprise move to run the Skipton Building Society, one of Britain’s biggest financial mutuals. Sky News has learnt that Stuart Haire, group general manager and chief executive of the London-listed banking giant’s UK personal and private banking businesses, is to become the new CEO of

The father-and-son duo who have built Matchroom Sport into a global sports promotion empire are plotting a deal that will cement their status among Britain’s super-rich. Sky News can reveal that Barry and Eddie Hearn are in detailed talks with at least three private equity firms about the sale of a substantial minority stake in

A cheap festival should not be an oxymoron but many people at Glastonbury this year are in a very different place financially to where they were when they booked their tickets before the coronavirus pandemic. Festival goer Harriet Wheeler, 32, from Brighton, said people she usually goes to watch music with are not forking out

The global chairman of KPMG has taken a swipe at the $80bn break-up being hatched by rival EY, implying that such a radical restructuring would be akin to an act of corporate vandalism. Sky News has obtained part of a memo sent by Bill Thomas to partners at the firm, reiterating KPMG’s commitment to retaining