Business

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%…

Rachel Reeves is “quietly hammering” workers with stealth taxes as a result of her budget last year, a think tank has said. While the chancellor did not increase income tax, national insurance contributions for employees or VAT, avoiding a manifesto breach, her November statement did see her extend a freeze on the first two until…

Britain’s biggest private hospital operator has handed prospective suitors a deadline to pursue a takeover of the company amid shareholder pressure on it to explore a sale. Sky News has learnt that advisers to Spire Healthcare have told parties including private equity firms to register their interest by 20 January. The date is not a…

The UK’s flagship stock index has had its best year since 2009 after a series of record-breaking days. The Financial Times Stock Exchange (FTSE) 100 ended the year up 21.5% compared to the start. It means the share price of the publicly traded companies making up the FTSE 100 had the greatest annual increase in…

The London-listed company behind the Revolution bars chain has set a deadline for bids next week after warning shareholders that they face being wiped out as part of a deal. Sky News understands that The Revel Collective, which also owns 22 Peach Pubs and bars trading under the Revolucion de Cuba name, has told bidders…

Annual energy bills are set to fall by £138 in April due to government changes, trusted forecasters have said. Initially, costs had been expected to rise when the next energy price cap is announced for the three months from April. But due to measures announced in the budget, research firm Cornwall Insight said an annual…

Octopus Energy Group is on the brink of selling a big stake in its software arm, Kraken Technologies, at a valuation that will cement its status as one of Britain’s biggest private companies. Sky News has learnt that Octopus Energy has lined up a syndicate of investors to buy between 10% and 20% of Kraken….