Business

Rachel Reeves will stress the need for “hard work matched by fair reward” when she unveils plans for a “youth guarantee” to drive down unemployment. The chancellor will make the case for a society founded on “contribution” in her speech at Labour‘s annual conference in Liverpool today. She is expected to confirm plans for every…

The outgoing boss of the British Olympic Association will this week be named as the new chief executive of one of Europe’s biggest e-commerce platforms for sports and outdoor enthusiasts. Sky News has learnt that Andy Anson, who will step down next month as chief executive of Team GB, is joining Sportscape Group, which boasts…

The chief executive of NatWest Group is continuing his overhaul of the bank’s leadership months after it returned to full private sector ownership. Sky News has learnt that Paul Thwaite, who took over as the lender’s boss two years ago, has created a new executive role aimed at sharpening its focus on customer service. James…

The government will underwrite a £1.5bn loan guarantee to Jaguar Land Rover (JLR) after a mass cyber attack forced a shutdown. JLR suspended production at its UK factories following the cyber attack on 31 August. The shutdown is expected to last until 1 October, leaving the largest UK carmaker’s suppliers in limbo. The loan is…

The energy supplier Ovo is plotting the sale of a stake in its software arm at a ‘unicorn’ valuation as part of efforts to strengthen the balance sheet of Britain’s fourth-largest residential gas and electricity group. Sky News has learnt that Ovo, which has just under four million retail customers, has appointed Arma Partners, the…

Harrods has warned its e-commerce customers that their personal data may have been taken in an IT systems breach. Information like customers’ names and contact details was taken after one of Harrods’ third-party provider systems was compromised, the luxury London department store said. Affected customers have been informed and reassured that the impacted data is…

Ovo has become the latest major energy supplier to disclose its failure to meet new capital adequacy rules imposed by the industry watchdog. Sky News has learnt that Ovo Energy is the second of the UK’s biggest gas and electricity companies to be in technical default of an Ofgem-imposed regime which came into effect in…

Cornwall’s Eden Project has revealed a doubling of losses and dwindling visitor numbers – as it also cut dozens of jobs. The attraction’s famous domes are home to thousands of plant species but it has recently seen a 10% drop in people through the gate. It blamed “more challenging trading conditions in South West tourism”…

There was some speculation, when it emerged that Nigel Farage was heading to Threadneedle Street to see the Bank of England governor, that he was about to “do a Trump”. You might recall, if you follow American politics, how the US president has been, for want of a better word, trolling the chairman of the…

Small firms reliant on the production-halted British car maker Jaguar Land Rover, “may have at best a week of cashflow left to support themselves” with “urgent” action needed to support businesses. Liam Byrne, the head of the influential Business and Trade Committee of MPs, wrote to Chancellor Rachel Reeves with the warning after meeting with…