Business

Barclays has revealed that its chief executive Jes Staley has stepped down following an investigation by regulators into his dealings with the disgraced financier Jeffrey Epstein. The bank said on Monday that Mr Staley – its chief executive since 2015 – had gone after being given sight of the preliminary conclusions of a probe launched

A husband and wife team who set up an upmarket outdoor pizza-oven company nearly a decade ago are planning to sell a stake in the business in a deal that could propel them into the ranks of Britain’s wealthiest people. Sky News has learnt that Ooni, is based in Scotland, is in talks to hire

G20 world leaders have endorsed a global minimum tax on corporations as part of an agreement on new international tax rules. The move by the leaders of the world’s biggest economies is a step toward building more fairness amid the surging revenues of some multinational businesses. US treasury secretary Janet L Yellen hailed it as

The Racing Post is galloping towards a £500m sale as its owner looks to cash in on a surge in demand for sports betting data. Sky News has learnt that Exponent Private Equity, which acquired the horseracing bible in 2016, is in talks with investment banks about launching an auction of Spotlight Sports Group, potentially

The prime minister has sought to soothe relations between France and the UK, telling journalists en route to the G20 in Rome that France is one of the UK’s “best, oldest, closest friends and allies”. Asked what he would say to President Macron when the pair meet in Rome this weekend, Mr Johnson responded: “[The]

Over 1,300 of the biggest UK-registered companies and financial institutions will soon have to make various climate-related disclosures. The disclosure standards on climate-related risks were voluntary but, following a recommendation in March, they will become mandatory from 6 April next year, subject to parliamentary approval. Those affected will include many of the UK’s largest traded

The economy has always relied on the labour of people whose work is insecure. But the pandemic left vulnerable workers in precarious and short-term employment at an even higher risk of exploitation, according to a new report seen exclusively by Sky News. The research, compiled by charity Focus on Labour Exploitation (FLEX), found that reports

Middle-income earners are likely to be worse off next year due to inflation and tax rises, according to the Institute for Fiscal Studies. IFS director Paul Johnson was delivering the organisation’s analysis of the budget presented by Chancellor Rishi Sunak on Wednesday. Mr Sunak had labelled it a “budget to usher in a new age

The number of cars built in the UK has continued to fall for the third month in a row, dropping to their lowest level for September since 1982. A total of 67,169 cars were produced in Britain last month, a decline of 41.5% year-on-year, according to a new report from the Society of Motor Manufacturers

Here are the key points from Chancellor Rishi Sunak’s budget speech: • The chancellor says there are “challenging” months ahead, adding that inflation in September was 3.1% and is likely to rise further – the OBR expect it to average 4% over the next year • Pressures caused by supply chains and energy crisis will

Rishi Sunak has claimed his budget will deliver a stronger economy “fit for a new age of optimism”. In comments released by the Treasury ahead of the chancellor’s address to MPs in the Commons on Wednesday, Mr Sunak said the budget will commence the “work of preparing for a new economy post-COVID”. “An economy of

Heathrow’s chief executive says the airport is “on the cusp of a recovery” as it posts its first full quarter of passenger growth since 2019. Britain’s busiest airport benefitted from strong pent-up demand for travel as pandemic-related restrictions continue to ease around the world. Passenger numbers in the third financial quarter recovered to 28% and

Petrofac, the London-listed oil group, will this week unveil plans to tap shareholders in a £180m fundraising that will be used in part to pay a Serious Fraud Office (SFO) fine for bribery offences. Sky News has learnt that Petrofac is preparing to announce as early as Tuesday morning that it intends to undertake an

Petrol prices have hit a record high across the UK in what the RAC has described as a “truly dark day for drivers”. The average daily price per litre hit 142.94p on Sunday in data reported on Monday morning by RAC/Experian Catalist, which is separate from the weekly average record price reported by government. The

Users of the Tesco website and app are experiencing disruption following an “attempt to interfere” with the system, the retail giant has said. The website and app have been hit with outages since yesterday morning, meaning customers cannot place or track orders. Website users are given an error message when they try to access groceries

Rishi Sunak has refused to be drawn on the future of the eastern leg of HS2 just three days before announcing his spending plans in the autumn Budget later this week. Deflecting a question on the matter on Sky’s Trevor Phillips on Sunday, the chancellor also failed to confirm whether a new Northern Powerhouse Rail

The Co-operative Bank has made an audacious approach about a merger with TSB in a move that could trigger a fresh wave of consolidation among Britain’s mid-sized lenders. Sky News has learnt that the Co-operative Bank contacted TSB’s Spanish owner, Banco Sabadell, earlier this month to gauge its appetite for a deal. It is understood

Zapp, one of the new breed of rapid grocery delivery apps engaged in a battle for share of British shoppers’ wallets, is opening talks about a new round of funding less than seven months after tapping investors for nearly $100m (£72.5m). Sky News has learnt that Zapp has hired JP Morgan, the Wall Street banking

More than 100 Conservative MPs have made a fresh plea to Chancellor Rishi Sunak to do more to support pubs and clubs at next week’s budget. In a letter to Mr Sunak, the group of Tory backbenchers have called on the chancellor to maintain a freeze on alcohol duties when he delivers his budget on

Green bonds offering savers the chance to back the government’s environmental projects are going on sale – but experts think the “paltry” returns on offer will see demand wilt. The bonds, described as the first ever green savings product issued by a country, go on sale online via the Treasury-backed National Savings & Investments (NS&I)