Business

The owner of Burger King’s UK operations is in advanced talks about a new franchise deal that will cut the number of new restaurants it is obliged to open each year. Sky News has learnt that Bridgepoint, the London-listed private equity firm, is close to striking a long-term deal with Restaurant Brands International (RBI), the

Pubs in England and Wales will be allowed to continue serving takeaway pints after the government decided to keep COVID licensing rules. Pubs were given permission to serve customers through hatches when they were forced to close during lockdown restrictions in 2020. Those rules were due to expire at the end of next month, but

The owner of the Daily Mail is in talks with prospective backers of a bid for The Daily Telegraph  - a deal that would underline its proprietor’s status among the most powerful figures in British media. Sky News has learned that Lord Rothermere, chairman of both DMGT and its consumer division dmg media, is courting

A British-based company which boasted that it would be a global pioneer in electric vehicle manufacturing is working with advisers to prepare for possible insolvency. Sky News has learnt that Arrival, which is listed on New York’s Nasdaq stock exchange, has drafted in Alvarez & Marsal (A&M) to advise it as it tries to salvage

The Premier League is targeting a financial agreement with its lower league counterparts within weeks as English football seeks to head off political criticism over the distribution of money through the sport. Sky News has learnt that the Premier League told its 20 ‘shareholders’ on Thursday that it now hoped to reach a swift conclusion

The UK economy grew slightly in the three months to June, according to official estimates. Gross domestic product (GDP) increased by 0.2% in the second quarter of the year, the Office for National Statistics (ONS) said. In June alone it rose 0.5%. It comes after a rate of 0.1% was recorded in the first quarter,

Discount retailer Wilko has failed despite catering to precisely the sort of cost-conscious, value driven consumer whose number has been swelled by the cost-of-living squeeze. While direct competitors B&M, Home Bargains and Poundland, as well as limited-range supermarkets Lidl and Aldi have thrived, its 400 stores and 12,500 jobs are now under threat. Founded 93

Wilko has gone into administration – putting 12,000 jobs at risk. It comes after Sky News revealed earlier on Thursday the retail chain was only hours away from insolvency. In a statement, CEO Mark Jackson said: “We’ve all fought hard to keep this incredible business intact but must concede that time has run out and

Unite has warned holidaymakers they face “severe disruption” at Gatwick Airport this month after ground staff announced a new series of strikes. More than 230 workers, who work for two contracted firms at the London site, will walk out on multiple dates later in August because of a dispute over pay, the union said. Unite

China’s annual inflation rate has dropped to -0.3%, heightening fears the country’s sluggish recovery from COVID could have a wider impact on the global economy. The year-on-year drop in the consumer price index (CPI) in July comes after figures earlier this week revealed imports and exports in the country also fell much faster than expected

Six English water companies are facing legal action over allegations they under-reported pollution discharges and overcharged customers as a result. Professor Carolyn Roberts, an environmental and water consultant, said she is planning to bring a string of cases to the Competition Appeal Tribunal in a bid to secure more than £800m compensation on behalf of

A specialist investor in struggling retailers is exploring a bid to rescue Wilko, the ailing family-owned chain which is teetering on the brink of collapse. Sky News has learnt that Gordon Brothers, which has backed British high street names including Laura Ashley, is in talks with Wilko’s advisers about structuring a potential deal. Sources said

Consumers spent less in shops as wet weather dampened demand for typical seasonal goods in July, latest figures show. Total UK retail sales increased 1.5%, according to the retail sales monitor from retail representative British Retail Consortium (BRC) and big four accountancy firm KPMG. But at the same time official figures showed the rate of

House prices fell by 2.4% in the year up to July – but there are signs the market is showing ‘resilience’, according to the Halifax. The fall in property values is less than the 2.6% annual decline it recorded in June, which was the biggest annual drop in more than 10 years. Month-on-month, house prices

A leading private equity investor is among the suitors circling Nicotinell, the anti-smoking aid which has been earmarked for sale by its FTSE-100 owner. Sky News has learnt that Inflexion, which has backed companies such as Goals Soccer Centres and Mountain Warehouse, is on a list of bidders in talks with Haleon about buying the

The Financial Conduct Authority (FCA) has promised to investigate unlawful bank closures after the chancellor warned the practice could be “widespread”. Jeremy Hunt told the FCA that he wants to see banks “spell out to an affected customer why they are terminating their payment account”. In a letter to the regulator, he wrote this would

One of Britain’s biggest lenders to small businesses is hatching plans for a £3.5bn tie-up with the Co-operative Bank. Sky News has learnt that Shawbrook Group has approached the owners of the Co-operative Bank in recent weeks to outline plans for a stock-based combination of the two companies. Sources said this weekend that the preliminary

The construction industry has bucked recent trends and returned to growth in July, according to a closely watched survey. Just a month after UK housebuilding fell at the steepest rate in more than a decade – outside the pandemic years – commercial activity and civil engineering work grew, according to the S&P Global/CIPS construction purchasing

Tinder is testing a new tool that lets AI pick your best photos. The feature was detailed during an earnings call with investors by parent company Match, which also owns online dating platforms like OkCupid and Hinge. Chief executive Bernard Kim said it could “take out the stress” someone feels when picking pictures, and help

A final decision is in sight for Microsoft’s protracted bid to acquire the maker of Call Of Duty now that the UK’s competition regulator has closed its public consultation on the matter. The Competition and Markets Authority will consider comments from the public – which were submitted over the past week – and Microsoft’s amended