Business

Donald Trump has revealed hefty trade tariffs against at least seven countries, to be applied from 1 August. The initial announcement, via his Truth Social platform, concerned Japan and South Korea. Both would face 25% rates on all goods, he said. Malaysia and Kazakhstan were later added to the list, while South Africa was told…

What happens to your pension savings when you die depends on several factors, including whether you’ve reached retirement age, the type of pension you have, your marital status and the beneficiaries you have nominated. Strap in, this is quite complicated… but here’s what you need to know… What happens to your state pension? It depends…

Shares in Elon Musk’s Tesla have reversed sharply amid renewed concerns about his focus on the company’s recovery as he plots against Donald Trump. Shares in the electric car firm plunged by more than 7% at the start of trading on Wall Street – taking about $71bn (£52bn) off its market value. The stock has…

The date for Trump’s tariffs to take effect has been extended, with deals being sent to countries from Monday evening, the president said. The 90-day pause on country-specific taxes on US imports was due to end on Wednesday, but instead will expire on 1 August, the Trump administration said. Money blog: ‘I get paid to…

Justin King, one of Britain’s most prominent businessmen, is in the frame to become the next head of Channel 4, the state-owned broadcaster. Sky News has learnt that Mr King is among the contenders to replace Sir Ian Cheshire as Channel 4 chairman. A Whitehall source said on Monday that the former J Sainsbury chief…

Building society chiefs will this week intensify their protests against the chancellor’s plans to cut cash ISA limits by warning that it will push up borrowing costs for homeowners and businesses. Sky News has obtained the draft of a letter being circulated by the Building Societies Association (BSA) among its members which will demand that…

Former Labour leader Neil Kinnock has called for a “wealth tax” to help the government’s dwindling finances. Lord Kinnock, who was leader from 1983 to 1992, said imposing a 2% tax on assets valued above £10m would bring in up to £11bn a year. Politics latest: Reeves’s tax turmoil deepens “It’s not going to pay…

Post Office scandal victims are calling for redress schemes to be taken away from the government completely, ahead of the public inquiry publishing its first findings. Phase 1, which is due back on Tuesday, will report on the human impact of what happened as well as compensation schemes. “Take (them) off the government completely,” says…

A British fintech which counts Standard Life among its key clients is close to finalising one of the industry’s biggest funding rounds so far this year. Sky News understands that Hyperlayer, which is run by the former Morgan Stanley executive Rob Rooney, is lining up a major equity injection led by CDAM, a UK-based investment…

Octopus Energy Group, Britain’s largest residential gas and electricity supplier, is plotting a £10bn demerger of its technology arm that would reinforce its status as one of the country’s most valuable private companies. Sky News can exclusively reveal that Octopus Energy is close to hiring investment bankers to help formally separate Kraken Technologies from the…