Business

The sports investment arm of Saudi Arabia’s sovereign wealth fund is buying a stake in the body which organises professional triathlons around the world. Sky News has learnt that Surj Sports Investment is in advanced talks about a deal to inject roughly $20m into the Professional Triathletes Organisation (PTO). A deal could be unveiled as…

A power outage that shut Heathrow Airport earlier this year, causing travel chaos for more than 270,000 passengers, was caused by a “catastrophic failure” of equipment in a nearby substation, according to a new report. Experts say the fire at the North Hyde Substation, which supplies electricity to Heathrow, started following the failure of a…

Santander is to buy TSB, becoming the UK’s third biggest bank in the process. It could mean the TSB brand is no longer visible on the high street, as Santander said it “intends to integrate TSB in the Santander UK group”. Santander has agreed to pay an initial £2.65bn for TSB, with the final price…

The UK’s YouTubers, TikTok creators and Instagram influencers have been surveyed on mass for the first time ever, and are demanding formal recognition from the government. The creator economy in the UK is thought to employ around 45,000 people and contribute over £2bn to the country in one year alone, according to the new research…

The private equity firm which employs BP’s chairman as an advisor is among the bidders exploring a takeover of Castrol, the oil giant’s lubricant arm which has been put up for sale for about $8bn (£5.8bn). Sky News has learnt that Clayton Dubilier & Rice (CD&R) has joined the ranks of strategic and financial bidders…

Ofgem’s approval of a £24bn investment in expanding the energy grid, and the £102 bill increase that will pay it, is an acknowledgement that cleaner, more predictable and hopefully cheaper prices in future will only come at a price today. The investments given the green light today, £10bn of which will be spent by the…

Heathrow Airport is sounding out candidates to take over from Lord Deighton, its long-serving chairman. Sky News has learnt that Britain’s biggest aviation hub is working with the headhunter Russell Reynolds Associates to recruit a successor to Lord Deighton, who took up the post in 2016. The search has emerged days after Heathrow warned of…

Prince William’s Duchy of Cornwall will allow certain charities to use its buildings rent-free after facing criticism over multimillion-pound deals the landed estate struck with public bodies. William’s duchy, which provides him with a private income of nearly £23m a year, has launched a review which means that grassroots groups – such as an orchard…

A major component within household energy bills is set to rise sharply from next year as part of efforts to maintain energy security amid the transition to green power. The industry regulator Ofgem’s draft determination on how much it will allow network operators to charge energy suppliers from 1 April 2026 to 31 March 2031…

Elon Musk has stepped up his attacks on Donald Trump’s sweeping tax and spending bill – weeks after a spectacular fallout between the world’s richest man and the US president. Following weeks of relative silence after clashing with Mr Trump over his “big beautiful bill”, the billionaire vowed to unseat politicians who support it. In…