Business

A sports streaming service whose customers include Manchester City Football Club, the Premier League champions, has collapsed into administration after the failure of funding talks. Sky News has learnt that Recast, which is based in Edinburgh, called in Interpath Advisory to handle its insolvency on Friday. The company operates a subscription-free live and on-demand platform

Ian King’s show looks at the biggest gaming deal in history – he’s speaking to Sarah Cardell from the Competition and Markets Authority about its approval of Microsoft’s takeover of Activision Blizzard. There’s also an analysis of the latest retail sales figures by John Stevenson from Peel Hunt. And Sashola Prestcote and Stella Pozzi, the

Microsoft’s revised effort to get the £55bn takeover of Activision Blizzard past UK regulators appears to be on track for clearance. The Competition and Markets Authority (CMA) had been a sole thorn in the side of the acquisition, rejecting the original terms on the grounds it had a duty to protect innovation and choice in

The headline numbers don’t do justice to the significance of the inflation data. On the surface, this only looks like a small fall, with the consumer price index (CPI) dropping from 6.8% in July to 6.7% in August. So what, you might ask? After all, it’s a far smaller drop than the one we heard

Marks & Spencer is swapping plastic bags for paper ones across all of its stores following a successful trial. The retailer has become the latest chain to opt for the more environmentally friendly bags following Morrisons, Waitrose and Aldi, which all use paper bags for customers – though some stores offer plastic bags as an

The John Lewis Partnership (JLP) has revealed its transformation plan will take two more years to complete than expected, while revealing a fall in losses over the first half of its financial year. The employee-owned company, in which staff are known as partners, said that a combination of higher costs due to inflation and a

The owner of Scotland’s only commercial gold mine has warned it is at risk of plunging into administration. Scotgold Resources has suspended trading in its shares on the London Stock Exchange and says it needs “significant” funding to allow the firm to continue as a going concern. The announcement comes after the company said in

Ian King and Sky’s business correspondent Paul Kelso discuss BMW’s plan to build its next-generation electric Mini in Oxford. As a rescue deal to buy some Wilko stores collapses, Ian speaks to Julie Palmer, regional managing partner at the corporate rescue and recovery practice Begbies Traynor Group, about what this means for employees. And Space

BMW says it is confident the European Commission will ease regulations that would leave a new generation of electric Minis made at its Cowley plant in Oxford subject to 10% export tariffs. Speaking as the company announced a £600m investment in the UK, including £75m of taxpayer support, BMW board member Milan Nedeljkovic told Sky

BMW is to build its next-generation electric Mini in Oxford after securing millions of pounds in taxpayer support from the government. The German-headquartered car giant is set to announce later on Monday details of its multi-million pound investment, which ministers say will secure around 4,000 jobs. It comes after Sky News revealed earlier this year

Apple has seen around $200bn (£160bn) wiped off its value after China extended its curbs on iPhone use by government workers. Shares in the tech giant have tumbled by 6.4% over the last two days in response to Beijing ordering some state employees from using the devices. The move has fuelled fears Apple and its

Universal Music Group (UMG) and independent streaming platform Deezer have announced the “most ambitious change” to the economics of streaming since its creation, with the launch of a new model promising higher royalties for artists. The collaboration between UMG, the world’s largest record company, and French streaming platform Deezer means artists will be paid double

The boss of the UK’s largest household energy supplier has been forced to defend record profits amid warnings of worse times ahead for household bills this winter. In evidence to the energy security and net zero committee of MPs, the chief executive of British Gas parent firm Centrica, Chris O’Shea, insisted the 889% surge in

China’s economy has slipped into deflation as consumer prices declined in July for the first time in more than two years. Ballooning local government debt, weak import and exports, challenges in the housing market, and growing youth unemployment are all contributing to the country’s downturn. On the Sky News Daily, Dominic Waghorn speaks to our

Google celebrated the 25th anniversary of its launch this week – and it’s hard to envisage what life was like before. Few companies have become so integral to society that they become a verb, but the search giant remains the shorthand for looking something up online despite AI threatening the habit. Google has of course

Mortgage approvals dropped almost 10% last month, new Bank of England figures show. The net decrease – from 54,600 in June to 49,400 in July – is a five-month low and worse than expected. A poll of economists predicted the figure would be around 51,000. It comes following a string of figures from lenders and

The energy regulator has confirmed a cut to its price cap that will see average household bills come down this autumn, as experts continue to warn of hikes to come during the winter months. Ofgem said the typical household paying by direct debit for gas and electricity faces an annual charge of £1,923 from October

The Gulf’s growing prominence in international sport will take another step forward on Thursday when a Qatari state vehicle unveils a deal to create a new global padel tour. Sky News has learnt that Qatar Sports Investments (QSI), the owner of Paris Saint-Germain, the French Ligue 1 football club, will announce it has formally agreed

The US tech firm that dominates the market for chips used in artificial intelligence (AI) has delighted investors with a doubling in quarterly revenue, promising more of the same in future. Nvidia shares gained almost 10% in after-hours trading in New York on Wednesday night when it revealed a string of numbers that beat analysts’

Falling house prices and record wage growth has meant houses have become more affordable on paper, but the rising cost of borrowing has cancelled out any benefit. The cost of a typical UK home is 6.7 times average earnings, down from a peak of 7.3 last summer, according to analysis from the country’s biggest mortgage