Business

Cutting the annual allowance for cash ISAs could backfire in multiple ways, an influential group of MPs has warned the government. For months, speculation has been growing that the chancellor may slash the yearly limit for tax-free savings – potentially from £20,000 to £10,000. The government is hoping to encourage savers to invest in stocks…

Rachel Reeves has fired the starting gun on the hunt for Britain’s next top bank regulator – and is calling on senior financiers to enter the race as candidates. Sky News can reveal that the chancellor has formally initiated a search for the next chief executive of the Prudential Regulation Authority (PRA), which sits within…

Championship side Sheffield Wednesday have filed for administration, according to a court filing. The club currently sit bottom of the Championship, the second tier of English football, with just six points after 11 games. Known as The Owls, they are one of the oldest surviving clubs in world football, with more than 150 years of…

US sanctions against Russia’s two largest energy companies, the state-owned Rosneft and privately held Lukoil, are perhaps the most significant economic measures imposed by the West since the invasion of Ukraine. If fully implemented, they have the potential to significantly choke off the flow of fossil fuel revenue that funds Russia’s war machine, but their…

English water companies have collectively been given the lowest environmental rating by the Environment Agency (EA) since records began. Companies were ranked on a scale of one to four stars. Out of a maximum score of 36 stars for all nine companies, the firms together scored 19, the lowest since the EA began monitoring. The…

Donald Trump has imposed sanctions on Russia’s two largest oil companies – and aired his frustration with Vladimir Putin. In a major policy shift, new restrictions have been unveiled against Rosneft and Lukoil – as well as dozens of subsidiaries – due to “Russia’s lack of serious commitment to a peace process to end the…

Manchester Pride has been put into voluntary liquidation and is being assessed by the charities regulator, with the future of the event in doubt. Artists, suppliers and freelancers have been left unpaid, some of them owed thousands, the performers’ and creatives’ union Equity said. After nearly a week of speculation and a period of financial…

The cyber attack on Jaguar Land Rover is believed to have been the “most financially damaging” in UK history at an estimated cost of £1.9bn, a security body has said. The attack, in late August, forced a halt to production across the carmaker’s global operations for more than a month, and it has yet to…

If you eat beef, and ever stop to wonder where and how it’s produced, Jonathan Chapman’s farm in the Chiltern Hills west of London is what you might imagine.  A small native herd, eating only the pasture beneath their hooves in a meadow fringed by beech trees, their leaves turning to match the copper coats…

Russell & Bromley, the family-owned shoe retailer, has drafted in City advisers to raise external funding amid an increasingly competitive high street trading environment. Sky News understands the chain, which was founded in 1880, has appointed Interpath Advisory to help secure financing from lenders. The size of the potential fundraising was unclear on Tuesday. Russell…