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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 Β£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 Β£20bn…
Britain’s biggest online diamond jewellery retailer is exploring the sale of a stake in the business to outside investors for the first time in its 69-year history. Sky News has learnt that The Diamond Store, which is owned by its founding family, is working with advisers on a process to bring in new backers amid…
The owner of Uswitch, one of Britain’s biggest price comparison platforms, and Zoopla, the online property portal, is plotting a break-up that could lead to the sale of some of Britain’s best-known consumer websites in the next 12 months. Sky News has learnt that Silver Lake Partners, the American private equity firm, has hired two…
The worldβs largest money manager will use President Trumpβs state visit to the UK next week to unveil a Β£500m plan to invest in UK data centres, one of the fastest-growing areas of global infrastructure spending. Sky News has learnt that BlackRock plans to announce a joint venture with Digital Gravity Partners, a digital infrastructure…
After a lifetime of spurning would-be business suitors, the late Italian designer Giorgio Armani instructed his family to gradually sell off his vast fashion empire. Armani, who died last week at the age of 91, had built the world’s most valuable private luxury brand. Please use Chrome browser for a more accessible video player 3:29…
The UK economy “continued to slow” and recorded zero growth in July, according to official figures showing a big drag from manufacturers. The data from the Office for National Statistics (ONS) followed a figure of 0.4% growth the previous month and negative growth of 0.1% in May. Output of 0.3% was achieved over the April-June…
An influential committee of MPs is seeking COVID-19-style financial support for Jaguar Land Rover as it tries to recover from a cyberattack. After a week of plant closures, the Committee for Business and Trade has written to the chancellor, asking her what is being offered to the carmaker “to mitigate the risk of significant, long-term…
Vue, Europe’s largest cinema operator, will on Friday announce the appointment of a new finance chief as its owners pave the way for a strategic review which could lead to a stock market flotation. Sky News has learnt that James McArthur, the former chief financial and transformation officer at HK Expeditions, the global expedition cruise…
The John Lewis Partnership (JLP) has blamed budget tax hikes for a deeper half-year loss. The UK’s largest employee-owned business, which owns John Lewis department stores and Waitrose supermarkets, reported a headline loss before tax and exceptional items of Β£34m for the six months to 26 July. That compared to a Β£5m loss in the…