Business

US tech firms exposed to big artificial intelligence (AI) investments are seeing their shares take a hammering over the emergence of a low-cost Chinese competitor. The likes of Nvidia, Meta Platforms, Microsoft, and Alphabet all saw their stocks come under pressure as investors questioned whether their share prices, already widely viewed as overblown following an

Part-owners of Chelsea and Manchester United football clubs are among a quartet of finalists vying to buy a big stake in London Spirit, the most prestigious franchise in English cricket’s Hundred competition. Sky News has learnt that a vehicle controlled by Todd Boehly, a shareholder in Chelsea, and members of the Manchester United-owning Glazer family

The Treasury borrowed more than expected last month to record the highest December sum for four years, official figures have shown, with higher debt interest payments adding to the bill. The Office for National Statistics (ONS) reported a net borrowing figure for December of £17.8bn when a sum just above £14bn had been expected by

Secret Escapes, the online travel platform, has hired bankers to explore a sale nearly 15 years after its launch. Sky News has learnt that Secret Escapes has appointed the investment bank Arma Partners to oversee an auction of the company. Sources close to a number of potential bidders said on Monday that the process was

China has released a slew of economic data this morning, showing its economy grew last year by a solid 5% percent, meeting the government’s target. Other annual figures released show that total retail sales of consumer goods were up by 3.5% last year, compared to 2023. But despite these positive indicators China’s economy is still

The International Monetary Fund (IMF) has warned against the prospects of a renewed US-led trade war, just days before Donald Trump prepares to begin his second term in the White House. The world’s lender of last resort used the latest update to its World Economic Outlook (WEO) to lay out a series of consequences for

Donald Trump will address business and world leaders at the World Economic Forum (WEF) in Davos, Switzerland, in a virtual appearance from the US three days after his inauguration as President. The Davos event, which starts on Monday, will attract more than 3,000 business and political leaders to the Swiss Alps. They will include 900

As the dust settles on a tumultuous week for gilts (UK government bonds) and sterling – a week that has raised serious questions about chancellor Rachel Reeves’s stewardship of the economy – the big question many people will be asking is why investor sentiment has shifted so much against the UK in the past week.

The company that owns Britain’s Vauxhall car plants met the UK government’s electric vehicle (EV) sales mandate last year despite publicly criticising the target and announcing the closure of its Luton factory. Stellantis, which also owns the Peugeot, Citroen and Fiat brands, as well as a number of others, was the UK’s best-selling electric van

Grocery shoppers are being warned of renewed hikes to food costs in the months ahead due to retailers passing on budget tax hike costs. The British Retail Consortium (BRC) warned that food prices will rise by an average of 4.2% in the latter half of the year – piling more pressure on households at a

As energy bills become more expensive from 1 January, respected forecasters have said they are likely to rise further in spring instead of fall, as first anticipated. The energy price cap rises from January, bringing the cost of a typical annual bill to £1,738 – £21 a year more than from October to December. Bills

Manchester United Football Club is to cut the funding it provides to its charitable arm as part of a purge of costs being overseen by Sir Jim Ratcliffe, its newest billionaire shareholder. Sky News has learnt that the Premier League club plans to inform the Manchester United Foundation that it intends to curb the benefits

UK car manufacturing fell again in November, the ninth month of decline in a row, according to industry data. A total of 64,216 cars were produced in UK factories last month, 27,711 fewer than in November last year – a 30% drop, according to data from the Society of Motor Manufacturers and Traders (SMMT). The

Dating apps changed single life forever when they brought swiping, liking and ghosting to the masses. Now, nearly two million people in the UK use online dating services to find love, according to Statista. But in the 12 years since Tinder revolutionised romance, many people say they fell out of love with the process. “Most

Every week in our Money blog, we answer questions about your financial problems or consumer disputes. This week, a reader asked what they have to do if they are overpaid. Debbie asked: “I work as a chef for a high-profile hotel. In August I was overpaid by £560. I’ve spoken to a colleague who said

A food supply chain technology start-up which aims to drive reductions in waste has landed millions of pounds in funding from a syndicate of investors. Sky News understands that Cerve, which was effectively founded earlier this year, has secured £3.5m in a round led by business-to-business software specialist SuperSeed. Venture capital investors Zenith, Ponderosa and

The world’s biggest cryptocurrency, Bitcoin, has been valued at more than $100,000 for the first time, spurred on by Donald Trump’s latest nomination for his presidential team. The cryptocurrency was valued at $103,280 (£81,160) as of 4.10am UK time, leaping in value by 7.9% in the previous 24 hours, according to currency converter XE.com. It’s

Ford’s UK boss has called on the government to provide consumer incentives of up to £5,000 per car to boost demand for electric vehicles and help the industry hit challenging climate targets. Lisa Brankin, chair of Ford UK & Ireland, told Sky News that direct support for consumers to purchase zero-emission vehicles is crucial if

House prices are now growing far higher than expected and at the fastest annual rate in nearly two years, the UK’s largest building society has said. In the year up to November, houses became 3.7% more valuable, according to Nationwide. Not since November 2022 have prices been rising as fast. Prices are now just 1%

The chief executive of Vauxhall’s parent company has abruptly resigned, just days after the car brand’s factory in Luton was slated for closure. Previously regarded as one of the most respected figures in the auto industry, Carlos Tavares came under scrutiny after Stellantis issued a profit warning in September. The firm – which also makes