Business

Harrods is preparing to take legal action against the estate of its former owner, Mohamed al-Fayed, as the multimillion-pound legal bill for compensating his sexual abuse victims continues to escalate. Sky News has learnt that the Knightsbridge department store, which has been owned by a Qatari sovereign wealth fund since 2010, plans to file a…

The Middle East is the world’s foremost oil-producing region and a major centre for maritime trade. Its waterways are a critical thoroughfare for cargo ships transporting oil and container ships with goods and appliances on board. Flare-ups in the Middle East have a predictable impact on the oil price, causing it to spike as investors…

The owners of American Golf, Britain’s biggest specialist golf retailer, are teeing up a sale of the chain nearly seven years after rescuing the company. Sky News has learnt that Endless, the investment firm, is lining up advisers to oversee an auction. Sources said that Alvarez & Marsal (A&M) was expected to be formally appointed…

The FTSE 100 has secured a new record closing high after riding out a US trade war-linked slump. The index of London’s leading shares gained 20 points to hit 8,884, surpassing the 3 March peak of 8,771 and leaving its value more than 8.6% up in the year to date. It was achieved despite gloomy…

Thousands of jobs are at risk after discount high street chain Poundland was sold – with dozens of shops expected to shut. Poundland has been sold for a headline figure of €1 to investment firm and former Laura Ashley owners Gordon Brothers, confirming Sky News reporting. Its previous owners, the Poland-based Pepco Group, however, are…

China will “always honour its commitments” when it comes to negotiating trade disagreements with the US, according to a spokesperson for the Chinese government. But when pushed by Sky News, he refrained from confirming what those commitments are. The reluctance is at odds with President Trump, who declared on his Truth Social account on Wednesday…

As hundreds lie dead following the latest tragedy to beset a Boeing passenger plane, it is too early to determine blame. Pilot error, engine failure and bird strikes are among the theories all being banded about. Only the recovery of flight AI171‘s black box flight recorders are likely to provide the concrete answers. What is…

The billionaire who has bankrolled DAZN, the sports-streaming service, is being courted to take a stake in The Daily Telegraph alongside the newspaper’s new American majority-owners. Sky News has learnt that Sir Len Blavatnik, whose holding company Access Entertainment owns assets in Britain, including the Theatre Royal Haymarket, has been approached by RedBird Capital Partners…

A prominent activist investment firm has begun building a stake in WH Smith, the travel retailer, weeks after it sold off its historic high street arm. Sky News has learnt that Palliser Capital has acquired close to 5% of the London-listed company in recent weeks – worth about £65m at the current share price. Sources…

Every Thursday, our Money blog team interviews chefs from around the UK, hearing about their cheap food hacks and more. This week, we chat to Richard Johns, chef-owner of The Plough in Wombleton, North Yorkshire. I have never believed in charging for service… We are certainly in the minority on this but do believe it…