Business

UK car production was up 13.1% year-on-year in February, driven by an uplift in export numbers. The Society of Motor Manufacturers and Traders (SMMT) said that 69,707 cars were made last month, with 81.2% of those destined for overseas markets. Almost 60% of those exported went to the European Union, by far the biggest market

Quantexa, a British data analytics company, is bucking the recent trend of technology company valuations by raising a new round of funding that will hand it coveted ‘unicorn’ status. Sky News has learnt that Quantexa has secured backing from a syndicate of investors including a Singaporean sovereign wealth fund. An industry source said the fundraising

TalkTalk, the broadband provider, has hired bankers to oversee a sale of its business-to-business division in a deal that analysts believe could fetch more than £200m. Sky News has learnt that the company, which is privately owned, is in the early stages of a process to sell TalkTalk Business Direct, which serves more than 80,000

Manchester United received a fresh Qatari bid overnight – as the battle to purchase the Premier League giants intensifies. Sheikh Jassim bin Hamad Al Thani made the offer after asking for a deadline extension on Wednesday. He joins Sir Jim Ratcliffe’s INEOS, who made his own second formal bid for the club, and comes after

Britain’s competition watchdog has provisionally dropped concerns that Microsoft’s proposed takeover of Activision Blizzard would damage the UK console gaming market. The Competition and Markets Authority (CMA) last month warned the £56.7bn deal could result in higher prices, fewer choices or less innovation for UK gamers. However, it said its latest findings have now indicated

Many verified Twitter users are set to lose their blue ticks at the beginning of next month. The social media platform has said that on 1 April it will start removing its “legacy” verified checkmarks. These cover most blue-tick accounts that are not government officials or organisations – meaning many musicians, actors, journalists, authors, among

Millions of mobile phone and internet users are facing a price increase of 17.3% on their bills in just a week’s time. Every April, many broadband and mobile firms raise their prices in line with the Consumer Price Index (CPI) plus an additional 3-3.9%. As these price rises are often applied mid-contract, people either have

Ziglu, a British cryptocurrency business, is exploring a cut-price sale nearly a year after agreeing an ultimately aborted takeover by Robinhood, the American fintech giant. Sky News has learnt that Ziglu, which offers crypto trading to thousands of customers, is in the process of hiring investment bankers to oversee a sale. City sources said the

Cenkos Securities and finnCap Group, the London-listed brokers, are in advanced talks to merge in an all-share deal that will create the City’s biggest dedicated investment bank serving small-cap growth companies. Sky News has learnt that Cenkos and finnCap are close to agreeing a tie-up. An announcement from both companies is likely as soon as

Professor Sir John Bell, the scientist who served as Boris Johnson’s COVID testing tsar, has quit the investment company which backs start-ups created from Oxford University’s academic research. Sky News has learnt that Prof Bell, who is regarded as one of the world’s leading medical scientists, stepped down as a non-executive director of Oxford Science

Ian King examines the latest inflation figures with Sky’s business correspondent, Gurpreet Narwan. Ian speaks to the chief executive of Openreach about government targets to deliver nationwide superfast broadband by 2030. Shadow chancellor Rachel Reeves joins Ian to chat about the economy and a very important chess match. He also discusses post-COVID recovery within the

The surprise increase in inflation will give policymakers pause for thought. Just days ago, inflation appeared to be coming down nicely and some were talking down the chances of another interest rate hike. However, February’s inflation data shows that the scale of the inflation challenge cannot be underestimated. Although economists – and the Bank of

“Substantial” government spending on energy bills support has sent public borrowing to an all-time February record, according to official figures. The Office for National Statistics (ONS) said the £16.7bn budget deficit was the highest for the month since records began in 1993. The total is up £9.7bn on February 2022 and greater than the £11.7bn

A Swiss regulator’s decision to prioritise shareholder value over certain bondholders in the forced takeover of Credit Suisse could result in legal action, a law firm has warned. Quinn Emanuel Urquhart & Sullivan said a call for so-called AT1 bondholders would likely be held on Wednesday. Holdings worth £14bn were wiped out under terms of

Embattled Credit Suisse has told its staff there is “no immediate change” to their jobs and it plans to complete bonus payments ahead of the bank’s forced takeover by its larger domestic rival UBS. A 42-point question-and-answer-style memo to workers, seen by Sky News, aimed to brief them on the implications of the deal struck

Ian King dissects the takeover of Switzerland’s second-biggest bank, Credit Suisse and asks what it means for the financial world. Ian’s joined by the director of property science at Rightmove, Tim Bannister, to look at the housing sector. He also finds out how internet’s become available at the summit of Mount Snowden. :: Listen and

UBS will take over Credit Suisse in a deal aimed at stemming what was fast becoming a global crisis of confidence. Credit Suisse, the 167-year-old embattled lender had been brought to the brink of financial calamity last week, despite securing a $54bn (£44bn) credit line from Switzerland’s central bank. The credit line was agreed in

Sky News has learnt that the company has hired Spencer Stuart, the headhunting firm, to identify a successor to Bridget Rosewell, who has chaired it since 2018. City sources said the hunt for Ms Rosewell’s replacement formed part of a plan to reshape its board ahead of an initial public offering (IPO). Mark Mullen, Atom

Credit Suisse has said it will borrow up to 50bn Swiss francs (£44.5bn) from the Swiss central bank to shore up its liquidity. The bank said it was “taking decisive action to pre-emptively strengthen its liquidity”, after a drop in its shares intensified fears of a global financial crisis. “This additional liquidity would support Credit

Banking stocks are enduring fresh, steep losses on Wednesday as concern over the health of US banks crosses the Atlantic. Credit Suisse shares plunged to new record lows following comments by its largest investor that it could not provide the Swiss bank with more financial assistance. Switzerland’s second-largest bank, no stranger to crisis over the