Business

Every month the Money blog interviews a top chef from around the UK, hearing about their cheap food hacks, views on the industry and more. Today they speak to Kevin Bonello, head chef at the Grade II* listed hotel The Grand, York. If I were prime minister for the day… I’d focus on improving working…

WH Ireland, the wealth management group, is in talks about an all-share merger with Team, another London-listed operator in the sector. Sky News has learnt that the two companies are in advanced discussions about a deal that could value WH Ireland at more than 4p-per-share – roughly eight times the value of a rival transaction…

A Japanese manufacturing firm is facing a union battle over plans to shut factories in County Durham with the loss of hundreds of jobs. NSK said it was proposing to close its two sites in Peterlee as part of a strategy to exit unprofitable businesses. The factories, which produce bearings for the automotive industry, employ…

The former chief executive of Petrofac, the oilfield services group which collapsed last month, is in talks to raise tens of millions of pounds for the offshore wind energy group he set up four years ago. Sky News has learnt that Venterra Group, which was established in 2021 by Ayman Asfari, is seeking £40m from…

The UK competition regulator has been hit by another spate of boardroom exits less than a year after its chair was forced out by ministers as part of their efforts to spur economic growth. Sky News has learnt that Dharmash Mistry, a technology industry veteran, and Cynthia Dubin, who has decades of experience in energy…

The UK’s jobless rate has risen to a level not seen since late 2020, according to official figures released ahead of the budget. The Office for National Statistics (ONS) reported a figure of 5% covering the three months to September – up from 4.8% reported last month. It was a larger leap than economists had…

The Post Office has agreed a further extension to its scandal-hit software deal with the Japanese company Fujitsu as it plots a move to a rival supplier in the next couple of years. Sky News has learnt that the Post Office, which is owned by the government, is to pay another £41m to Fujitsu for…

A group of City executives are raising millions of pounds to fund the launch of a ‘mini-Nasdaq’ exchange aimed at venture capital-backed companies. Sky News has learnt that Jon Prideaux, a former chief executive of London-listed Boku, and former AIM boss Martin Graham, have approached investors about a £4m fundraising for the Global Growth Market…

Elon Musk could be on track for a $1trn (£761bn) pay package – if Tesla meets a series of extremely ambitious targets over the next 10 years. The world’s richest man has the potential to become a trillionaire after the controversial plans were approved by 75% of the company’s shareholders. It would be the largest…

The unravelling of the Barclay family’s business empire will continue this week when Carlyle, the US-based investment giant, formally takes control of The Very Group, one of Britain’s biggest online retailers. Sky News has learnt that the company, which boasts annual revenues of over £2bn and is chaired by Nadhim Zahawi, the former Conservative chancellor,…