Business

A Hong Kong court has ordered the liquidation of China Evergrande, the real estate firm with more than $300bn (£236.1bn) of debts, amid deepening fears for the territory’s wider corporate health. Justice Linda Chan ruled Evergrande had been unable to offer a concrete restructuring plan to creditors – more than two years after defaulting on

A promise by the incoming National Lottery operator to slash the price of a ticket from £2 to £1 is under review. Allwyn has also said delayed plans for new draw-based games will impact sales and the amount of money it can give to good causes in the early part of its 10-year licence. The

Just three weeks into 2024, one of the most eye-catching developments in financial markets has been a surge in issuance of corporate debt – the activity by which companies raise money selling bonds to investors. According to data from London Stock Exchange Group, investment-grade companies have issued $153bn (£120bn) worth of bonds this month, the

An arm of one of China’s largest municipal governments is in talks to buy Stemcor, the historic British steel trading company. Sky News has learnt that a new company connected to Guangzhou Aerotropolis, which is located in the province of Guangdong, is in detailed negotiations with Stemcor’s lenders about a deal to take control of

On today’s show, we’ve got the latest reports about potential cutbacks at fund manager abrdn. Ian King speaks to Carina Namih, partner at Plural, about a new €400m (£342m) fund to back the next generation of start-ups. Yoko Spirig, co-founder and chief executive of Ledgy, discusses research showing almost three-quarters of UK tech companies would

The passing of the Offshore Petroleum Licensing Bill to its next stage is good news for Rishi Sunak.  MPs gave the bill a second reading by 293 votes to 211 on Monday evening, with the government securing a majority of 82. The prime minister is a man, remember, who said he wants to “max out”

Samsung will integrate Google’s generative artificial intelligence (AI) technology into its next generation of Galaxy smartphones. The South Korean firm unveiled the S24 series and boasted of an array of new features powered by AI on Wednesday. “We will reshape the technology landscape, we will open a new chapter without barriers to unleash your potential,”

It will be at least two years until any criminal charges are brought over the Post Office scandal, Britain’s most senior police officer has said. Metropolitan Police Commissioner Sir Mark Rowley has warned detectives will have to read “tens of millions of documents” to decide whether laws have been broken, and that will probably take

A plan to boost the security of critical imports has been revealed by the government following a host of disruptions to global supply chains. The Department for Business and Trade said it had been working with key industry groups for several weeks to identify products the country could not do without and should be “safeguarded”.

Dr Reddy’s Laboratories, an Indian pharmaceutical group, is in talks to buy Nicotinell, the anti-smoking aid, from its FTSE-100 parent company. Sky News has learnt that Hyderabad-based Dr Reddy’s has emerged as the frontrunner to acquire the brand from Haleon, the consumer healthcare giant spun out of GlaxoSmithKline two years ago. Sources described the talks

A supplier of heat pumps and other domestic energy technology to European consumers has secured more than £100m of new funding, weeks after pledging to create thousands of jobs in Britain. Sky News understands that Aira Group, which was established by the founder of prominent battery start-up Northvolt, will say on Tuesday that it has

Average house prices have jumped by about £4,500 this month – but experts are still predicting that 2024 will be a “smoother year” for buyers. According to Rightmove, the typical asking price for a British property now stands at £359,748, which is 0.7% lower compared with a year ago. The number of new houses coming

Burberry shares have fallen sharply after the luxury brand said it had failed to see the global pick-up in demand it had hoped for over the crucial Christmas season. The UK company, which has been seeking to move upmarket under a turnaround plan initiated by chief executive Jonathan Akeroyd, had previously warned on its annual

The City regulator is reviewing whether people could be owed compensation for being charged too much for car loans, following a high number of complaints on historic agreements. The Financial Conduct Authority (FCA) said it was a reaction to rising tensions between consumers and lenders over so-called discretionary commission arrangements across the motor finance market

A sports marketing group which works with Formula One motor racing and the International Olympic Committee is in advanced talks to be sold to a British buyout firm for £250m. Sky News has learnt that Two Circles, which was founded by Gareth Balch, a former international athlete, could announce a deal to be acquired by

Ian King is joined by Mark Shepherd, from the Association of British Insurers, to discuss the impact of the widespread flooding disruption. Mike Hawes, from the Society of Motor Manufacturers and Traders, talks to Ian about car sales. And Randall Atkins, from Ramaco Resources, discusses a new discovery at a coal mine in Wyoming. ::

Mortgage approvals hit their highest level in six months near the end of last year, official data has revealed – as more lenders announce rate cuts. New figures from the Bank of England (BoE), published on Thursday, show that more than 50,000 loans for home purchases were rubber-stamped in November – the highest number since

Ian King talks to Patrick Farrell from Charles Stanley about business confidence. Rightmove’s property expert, Tim Bannister, discusses house prices. Paddy Power, from Paddy Power, and Matt Hobbs, director of research at Prostate Cancer UK join Ian to discuss the real winner of last night’s World Darts Championship. :: Listen and subscribe to The Ian

Two of the world’s largest container ship operators have extended diversions from the Red Sea following an attack on a vessel at the weekend that has been blamed for a renewed oil price volatility. Maersk had suspended, on Sunday, sailings near or via the Suez Canal after one of its giant carriers, the Maersk Hangzou,

The website and phone app for Elon Musk’s X (formerly Twitter) appear to have been restored after going down. Earlier, users were still able to open the service but were faced with a message reading “welcome to your timeline”, instead of the usual feed of posts. Spaces, where people can take part in voice chat