Business

The metals tycoon Sanjeev Gupta is this weekend plotting a controversial deal to salvage his remaining UK steel operations and avert their collapse into compulsory liquidation – a move that would put close to 1,500 jobs at risk. Sky News has learnt that Mr Gupta is in talks about a so-called connected pre-pack administration of…

The private equity firm set up by Jared Kushner, President Donald Trump’s son-in-law, is to take a stake in OakNorth, the British-based lender which has set its sights on a rapid expansion in the US. Sky News has learnt that Affinity Partners, which has amassed billions of dollars in assets under management, has signed a…

The smell of yeast still hangs in the air at the Vivergo plant in Hull but the machines have fallen quiet.  More than 100 lorries usually pass through here each day, carrying 3,000 tonnes of wheat. It is milled, fermented and distilled. The final product is bioethanol, a renewable fuel that is then blended into…

Lola’s Cupcakes, the bakery chain which has become a familiar presence at commuter rail stations and in major shopping centres, is in advanced talks about a sale valuing it at more than £25m. Sky News has learnt that Finsbury Food, the speciality bakery business which was listed on the London Stock Exchange until being taken…

Every week, our Money team interviews top chefs from around the UK, hearing about their cheap food hacks, views on the industry and more. Today, they speak to Roger Pizey, head pastry chef at Fortnum and Mason… A supermarket takeaway dessert I love is… Tesco’s finest meringue nests. I suppose in themselves they’re not really…

The owner of song catalogues produced by artists such as ZZ Top and Ellie Goulding is raising hundreds of millions of dollars in a deal with the private equity firm Searchlight Capital. Sky News has learnt that Chord Music Partners has struck an agreement for Searchlight to invest $400m in the company, which is backed…

Gala Bingo players have been left “angry” and “disgusted” after a technical glitch led them to believe they had won thousands of pounds. Several punters received notifications saying they had won an online bingo game, with some able to withdraw the money. But they were later told there had been a “technical error” and the…

UK economic growth slowed as US President Donald Trump’s tariffs hit and businesses grappled with higher costs, official figures show. A measure of everything produced in the economy, gross domestic product (GDP), expanded just 0.3% in the three months to June, according to the Office for National Statistics (ONS). It’s a slowdown from the first…

Fashion accessories chain Claire’s is set to appoint administrators for its UK and Ireland business – putting around 2,150 jobs at risk. The move will raise fears over the future of 306 stores, with 278 of those in the UK and 28 in Ireland. Sky News’ City editor Mark Kleinman reported last week that the…

The average two-year mortgage rate has fallen below 5% for the first time since the Liz Truss mini-budget. The interest rate charged on a typical two-year fixed mortgage deal is now 4.99%, according to financial information company Moneyfacts. It means there are more expensive and also cheaper two-year mortgage products on the market, but the…