Business

The owner of the Lindsey oil refinery has crashed into insolvency, putting hundreds of jobs at risk at the energy conglomerate behind the Lincolnshire site. Sky News has learnt that State Oil, the parent company of Prax Group, which has oilfield interests in the Shetlands and owns roughly 200 petrol stations, has been forced to…

Donald Trump has said the US government has found a buyer for TikTok that he will reveal “in about two weeks”. The president told Fox News “it’s a group of very wealthy people”, adding: “I think I’ll probably need China approval, I think President Xi will probably do it.” TikTok was ordered last year to…

The private equity firm at the centre of a string of bidding wars for British companies is leading the £1.7bn race to buy the owner of Argos’s store-card operations. Sky News has learnt that KKR is the frontrunner to buy NewDay Group, which is owned by the buyout firms Cinven and CVC Capital Partners. KKR…

The health secretary has told Sky News the government’s plans to tackle obesity by introducing a health food standard for supermarkets are a “world-first approach” and not “nanny statism”. As part of an initiative aimed at taking some pressure off the NHS, food retailers and manufacturers will “make the healthy choice the easy choice” for…

A healthy food standard will be introduced for supermarkets and other retailers as part of government plans to tackle obesity levels in the UK. As part of a government initiative aimed at taking some pressure off the NHS, food retailers and manufacturers will “make the healthy choice the easy choice” for customers in a country…

Scottish Power, the Spanish-owned energy supplier, and larger rival Ovo Energy have begun holding exploratory talks about a merger that would create a company serving more than 6 million British households. Sky News has learnt that executives from Iberdrola, which owns Scottish Power, and Ovo have been engaged in preliminary discussions in recent weeks about…

As Prime Minister Sir Keir Starmer backs down over planned cuts to disability entitlements, Paul Kelso discusses the latest developments with Simon French, chief economist and head of research at Panmure Liberum. Paul also speaks to George Lagarias, chief economist at Forvis Mazars, about how the bond markets have reacted to the U-turn. And there…

Major pornography sites including Pornhub and Redtube will introduce “highly effective age checks” from the 25 July in the UK for the first time. New Ofcom rules designed to keep children from seeing harmful content online come into force next month, with “robust” age checks a “cornerstone” of the regulations, according to the communications regulator….

Nike’s costs will go up $1bn (£728m) this year if US President Donald Trump’s tariffs remain at the current level, the company has told investors. It follows a warning from the sports brand last month that it would raise prices due to the taxes imposed on imports. Work to bring down costs is under way,…

A London-listed marketing conglomerate which sacked three of its top executives this week has been approached about a £200m break-up. Sky News has learnt that Next 15 has been holding talks about a sale of its “legacy” assets, which include the financial public relations agency MHP, with an unnamed bidder. That would leave the rump…