Business

An AI start-up which claims to act as an ‘immune system’ for software has landed $17m (£12.6m) in initial funding from backers including the ventures arm of Alphabet-owned Google. Sky News has learnt that Phoebe, which uses AI agents to continuously monitor and respond to live system data in order to identify and fix software…

The final batch of Queen Elizabeth II’s £1 coins is entering circulation across the UK, the Royal Mint has announced. More than 23 million coins depicting the late monarch are being released alongside 7.5 million new King Charles III £1 coins. The Royal Mint said the last of the Queen’s coins, which are dated 2022,…

The putative owners of The Daily Telegraph will take another step towards gaining control of the right-wing newspaper in the coming days when they formally notify Whitehall of their plans. Sky News has learnt that lawyers acting for RedBird Capital Partners, the US-based investor which will own a majority stake in the publisher if the…

Each Monday, we speak to someone from a different profession to discover what it’s really like. This week we chat to foster carer from the National Fostering Group, Susan Williams… Foster carers receive an allowance of around £24,500 per year [this is usually tax-free] for each child… which is a combination of a professional fee…

Soho House, the global network of private members’ clubs, is being bought by a group led by hotel owners MCR – valuing the business at $2.7bn (£1.99bn). The deal will take the London-based hospitality group back into private ownership, meaning it will no longer be listed on the New York Stock Exchange. Actor-turned-investor Ashton Kutcher…

BlackRock, the world’s biggest asset manager, is backing a controversial bid by the metals tycoon Sanjeev Gupta to retain control of his faltering UK steel empire. Sky News has learnt that executives at BlackRock have authorised the issuance of a financing support letter which could enable Mr Gupta to continue to exert a grip on…

Watchmaker Swatch has apologised and pulled ads featuring an Asian male model pulling the corners of his eyes backwards following accusations of racism. Images for the Swatch Essentials collection were criticised for the “slanted eye” pose, especially in China, with many commentators saying they appeared to mimic racist taunts. The Swiss company has apologised in…

An AI-powered market research firm which has counted Unilever and Vodafone among its clients is on the brink of collapse. Sky News understands that Streetbees, which was founded in 2015, has filed a notice of intention to appoint the professional services firm FRP Advisory as administrator. Sources said that a buyer was being lined up…

A company which makes miniaturised electric versions of classic cars has secured a rescue deal led by an American merchant banking group. Sky News understands that the future of Hedley Studios – formerly known as The Little Car Company – has been salvaged through a pre-pack administration deal. FRP Advisory is understood to have acted…

Fashion brand Topshop celebrated its relaunch with its first catwalk in seven years. The company’s website promised everyone was invited as models strutted down a runway on Trafalgar Square in front of noughties fashion icons Cara Delevingne and Adwoa Aboah and the London Mayor Sir Sadiq Khan. The label has been operating on the online…