Business

The US central bank has cut interest rates for the first time this year, in a move President Donald Trump will likely declare is long overdue. Mr Trump has demanded cuts to borrowing costs from the Federal Reserve ever since worries emerged in the world’s largest economy that his trade war would stoke US inflation….

The investor which swooped on WH Smith’s high street business earlier this year is in pole position to snap up the British operations of Claire’s, the accessories retailer which collapsed last month. Sky News has learnt that Modella Capital has agreed the outline of a deal with Claire’s new US-based owner, private equity firm Ames…

Some of the biggest US technology companies have pledged billions of pounds of investment to turbocharge Britain’s artificial intelligence (AI) industry, as the two countries announce a landmark technology deal. Nvidia, Microsoft, Open AI and Google made a flurry of announcements to coincide with President Trump‘s state visit to the UK. They include plans to…

The NHS will increase the amount it spends on medicines in response to criticism from pharmaceutical companies that the UK is becoming uncompetitive, science minister Lord Vallance has told MPs. Investments worth close to £2bn have been paused or cancelled this year by three of the world’s largest companies, Merck, AstraZeneca and Eli Lilly, amid…

The state pension is likely to rise by 4.7% in April, after the latest official figures showed this was the pace of wage growth. The pension is determined by the triple lock, which means it will rise every year by whichever is highest: inflation in September, average weekly earnings from May to July or 2.5%….

Shares in Tesla have surged on news that Elon Musk has snapped up stock worth more than $1bn (£741m), bolstering investor hopes the tycoon is committed to its recovery. The purchase was revealed in a filing which showed the billionaire had bought more than 2.5 million shares last week. Tesla‘s shares, largely flat in the…

English football’s new watchdog is convening its inaugural summit early next month despite being warned of a clash with the annual gathering of Europe’s main clubs association. Sky News understands that the Independent Football Regulator (IFR) has invited all 116 clubs in the Premier League, English Football League and National League to a meeting in…

The prime minister has hailed a new “golden age” of nuclear power as British and US companies announce five new commercial deals, ahead of the US president’s state visit this week. The plans include a new nuclear power plant in Hartlepool using latent, potentially cheaper technology and data centres powered by mini reactors in Nottinghamshire….

Lord Hammond, the former chancellor of the exchequer, is preparing to step down as chairman of Copper, the digital assets group, as it reorients its growth plans away from the UK to the US market. Sky News has learnt that Copper’s board is in the process of recruiting a successor to Lord Hammond, who served…

The UK government has announced more than £1.25bn in private US investment in the UK’s financial services sector ahead of US President Donald Trump’s second state visit. The new US investments are expected to create 1,800 jobs and boost benefits for millions of customers across the country, the UK government said. The deal secures £20bn…