Business

The pound fell and state borrowing costs rose during a period of uncertainty over the chancellor’s future on Wednesday. During Prime Minister’s Questions, Sir Keir Starmer declined to guarantee whether a visibly emotional Rachel Reeves would remain chancellor until the next election following the government’s welfare bill U-turn. Money blog: Cash in your pocket set…

Ryanair has warned of 170 flight cancellations, disrupting travel for more than 30,000 passengers, as a French air traffic controllers strike looms. The no-frills carrier, Europe’s largest airline by passenger numbers, announced its decision after a plea by French authorities for airlines to reduce flights at Paris airports by 40% on Friday. The industrial action…

Tesla’s woes have deepened as latest production and deliveries figures showed a greater fall than expected. A total of 384,122 Teslas were delivered from April to June this year, a 13.5% drop on the same period last year and the second quarter of slumping output. Wall Street analysts had expected Tesla to report about 1,000…

A savings and retirement services group backed by Apollo Global Management is closing in on a near-£6bn takeover of Pension Insurance Corporation (PIC), one of the City’s biggest specialist insurers. Sky News has learnt that Athora, which is minority-owned by Apollo, the US-based alternative investments giant, is days away from striking a deal to take…

It’s a threat that will send a shiver down the spine of Downing Street and shake the City of London to its core. Even the notion that AstraZeneca (AZ) – the UK’s most valuable listed company – is thinking of upping sticks and switching its stock market listing to America is a frightening prospect on…

US media group Paramount has agreed to pay $16m (£11.6m) to settle a lawsuit filed by Donald Trump over what he alleged was a misleading interview with the former vice president Kamala Harris. The case involving a feature on CBS News, which is owned by Paramount, has been criticised as a challenge to free speech….

The sports investment arm of Saudi Arabia’s sovereign wealth fund is buying a stake in the body which organises professional triathlons around the world. Sky News has learnt that Surj Sports Investment is in advanced talks about a deal to inject roughly $20m into the Professional Triathletes Organisation (PTO). A deal could be unveiled as…

A power outage that shut Heathrow Airport earlier this year, causing travel chaos for more than 270,000 passengers, was caused by a “catastrophic failure” of equipment in a nearby substation, according to a new report. Experts say the fire at the North Hyde Substation, which supplies electricity to Heathrow, started following the failure of a…

Santander is to buy TSB, becoming the UK’s third biggest bank in the process. It could mean the TSB brand is no longer visible on the high street, as Santander said it “intends to integrate TSB in the Santander UK group”. Santander has agreed to pay an initial £2.65bn for TSB, with the final price…

The UK’s YouTubers, TikTok creators and Instagram influencers have been surveyed on mass for the first time ever, and are demanding formal recognition from the government. The creator economy in the UK is thought to employ around 45,000 people and contribute over £2bn to the country in one year alone, according to the new research…