Business

Asda is in talks about a £400m deal to offload some of its supermarket real estate assets to a giant investment house as it looks to plough more funding into its turnaround plans. Sky News has learnt that Blue Owl Capital, the New York-listed asset management group, has emerged as the frontrunner to buy roughly…

Tesla’s board has signed off a $29bn (£21.8bn) share award to Elon Musk after a court blocked an earlier package worth almost double that sum. The new award, which amounts to 96 million new shares, is not just about keeping the electric vehicle (EV) firm’s founder in the driving seat as chief executive. The new…

Bank stocks have enjoyed a boost as traders digest the Supreme Court’s ruling on the car finance scandal. Some of the country’s most exposed lenders, including Lloyds and Close Brothers, saw their share prices jump by 7.55% and 21.62% respectively. It came after the court delivered a reprieve from a possible £44bn compensation bill. Money…

Martin Lewis says motorists who were mis-sold car finance are likely to receive “hundreds, not thousands of pounds” – with regulators launching a consultation on a new compensation scheme. The founder of MoneySavingExpert.com believes it is “very likely” that about 40% of Britons who entered personal contact purchase or hire purchase agreements between 2007 and…

Thousands of motorists who bought cars on finance before 2021 could be set for payouts as the Financial Conduct Authority (FCA) has said it will consult on a compensation scheme. In a statement released on Sunday, the FCA said its review of the past use of motor finance “has shown that many firms were not…

The London-listed investment group ICG is closing in on a £200m deal to buy three of Britain’s biggest regional airports. Sky News has learnt that ICG is expected to sign a formal agreement to buy Bournemouth, Exeter and Norwich airports later this month. The trio of sites collectively serve just over 2 million passengers annually….

One of the world’s leading supplier of costumes to stars of stage and screen is in talks to secure external investment for the first time in its 185-year-old history. Sky News has learnt that Angels, which is based in London, is working with advisers to raise millions of pounds from the sale of a minority…

Some of the world’s leading tech companies are betting big on very small innovations. Last week, Samsung released its Galaxy Z Fold 7 which – when open – has a thickness of just 4.2mm, one of the slimmest folding phones ever to hit the market. And Honor, a spin-off from Chinese smartphone company Huawei, will…

Donald Trump’s trade war has been difficult to keep up with, to put it mildly. For all the threats and bluster of the US election campaign last year to the on-off implementation of trade tariffs – and more threats – since he returned to the White House in January, the president‘s protectionist agenda has been…

Cuvva, a fast-growing provider of short-term motor insurance, has drafted in advisers to explore a sale a decade after it was founded. Sky News has learnt that Cuvva has hired Perella Weinberg Partners to field interest from potential buyers following a series of unsolicited approaches. Sources said a sale process was expected to kick off…