Business

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

Artemis, the London-based fund manager, is slashing the value of its stake in a revolutionary aerospace company which has set its sights on pioneering hypersonic travel. Sky News has learnt that Artemis, which holds a 2.3% stake in Reaction Engines, intends to write down the value of its holding by as much as 90%. An

Older people are having to fill out a 243-question form to access pension credit and winter fuel payments – a task that will be “daunting” for some, charities have said. The government has launched a campaign urging eligible people to apply for pension credit after Rachel Reeves announced last month that the winter payments would

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

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

Sir Keir Starmer will vow on Tuesday to “reverse a decade of decline” and to “fix the foundations” of the UK economy. Delivering a much-trailed speech in the gardens of Downing Street ahead of parliament’s return next week, the prime minister will acknowledge the state of the public finances but pledge to “do the hard

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

A court-appointed armed guard tasked with ensuring Mike Lynch did not flee while facing fraud charges has paid tribute to the tech tycoon and his daughter, who both died after the Bayesian superyacht they were holidaying on sunk. The 59-year-old Briton was confirmed dead by local authorities on Thursday after the superyacht he was holidaying

A British fraud detection company backed by Mike Lynch, the technology entrepreneur who died this week, is in talks about a sale to Visa, the American payments giant, worth hundreds of millions of pounds. Sky News has learnt that Featurespace, which was founded in 2008 and is headquartered in Cambridge, is in advanced negotiations about

The pound has hit its highest level against the US dollar since March 2022 after the chair of the Federal Reserve declared that “the time has come” for an interest rate cut. Jay Powell’s remarks to the US central bank’s annual economic conference at Jackson Hole, Wyoming, did not specify when rate cuts would begin

The energy price cap will rise in October to an annual average of £1,717. Industry regulator Ofgem said the 10% rise was largely due to higher wholesale gas prices and urged bill-payers to “shop around” for fixed-rate deals. Money latest:Warning £2,500 will be added to stamp duty ‘overnight’ But the latest increase – which means

The energy price cap will rise to an average annual £1,717 from October, the industry regulator has confirmed as the clock ticks down to the loss of winter fuel payments for millions of pensioners. The new figure represents a 10% a year – or £12 per month – leap in the typical sum households face