Business

The retailers Claire’s and The Original Factory Shop (TOFS) are on the brink of collapse, putting more than 2,000 jobs at risk in a bleak start to the new year for the British high street. Sky News has learnt that the two chains are understood to be filing notices of intention to appoint administrators just…

The winning bidder for one of the country’s last remaining oil refineries has said it does not plan to restart fuel production at the site and cannot guarantee how many jobs will be retained. It was announced on Monday that Phillips 66, which already owns the Humber Refinery in north-east Lincolnshire, had agreed a deal…

The advisory firm which oversaw a controversial costs purge at Manchester United Football Club is being sold to the owner of Burger King’s British operations in a deal worth more than £800m. Sky News has learnt that Bridgepoint, the London-listed buyout firm, has agreed to buy a controlling stake in Interpath Advisory. A deal could…

The private equity firm which has backed Time Out and Britain’s next tilt at the Americas Cup has landed a £1bn-plus deal to buy a fast-growing player in the global finance industry. Sky News has learnt that Oakley Capital has agreed to buy a majority stake in Global Loan Agency Service (GLAS), which specialises in…

The UK’s flagship stock index has broken the symbolic 10,000 points mark for the first time. The new high was reached within a half hour of the first day of trading in the new year. The Financial Times Stock Exchange (FTSE) 100 comprises the hundred most valuable companies listed on the London Stock Exchange. Notable…

Tesla has lost its crown as the world’s bestselling electric vehicle maker. The US firm faced a difficult year with unease over chief executive Elon Musk’s political activities and stiff overseas competition that pushed sales down for a second year in a row. Tesla said that it delivered 1.64 million vehicles in 2025, a decrease…

The private equity backers of London’s biggest estate agency chain are exploring a potential sale valuing it at more than £500m, despite the looming threat of Rachel Reeves’ new “mansion tax”. Sky News has learnt that Oakley Capital, which acquired a majority stake in Dexters in 2021, is close to hiring investment bankers to evaluate…

Hundreds of British hospitality workers face losing their jobs in the coming days as the owner of TGI Fridays finalises plans to buy back a slimmed-down version of one of Britain’s best-known casual dining chains. Sky News has learnt that Sugarloaf TGIF Management, which only took control of TGI Fridays two months ago, is preparing…

Next, the FTSE-100 retail behemoth, is among a pack of suitors considering a new year swoop to buy LK Bennett, the struggling fashion retailer. Sky News has learnt that Next is weighing a cut-price offer to buy LK Bennett’s brand and other intellectual property assets as it prepares to call in administrators. Retail industry sources…

Passing the 10,000-point barrier is a largely symbolic milestone for the FTSE 100, but it underlines an upward trend for the index of the UK’s largest companies and offers some cautious optimism for the year ahead. Founded in 1984 with an index value of 1,000, last year was the FTSE’s best since 2009, rising 21.5%…