Business

The escalating row between Boohoo and Revolution Beauty, the AIM-listed retailer, is poised to intensify with a complaint to the junior stock market regulator. Sky News has learnt that Boohoo is drafting a letter to the AIM regulatory authorities demanding that Revolution clarifies an earlier stock exchange announcement that the online clothing retailer had obstructed

Britain’s biggest water company is this weekend corralling its shareholders to support a major capital injection as it prepares to publish delayed annual accounts. Sky News has learnt that Thames Water has secured backing from investors including Omers, the Canadian pension fund, and the Universities Superannuation Scheme (USS) for a commitment to provide new equity. Further

BT Group has kicked off a formal search for a successor to Philip Jansen, its chief executive, as he weighs a number of job opportunities in the US. Sky News has learnt that BT is working with the search firm Spencer Stuart on a process to identify a successor to Mr Jansen, who took on

The Empire Cinemas chain has entered administration, leading to the loss of 150 jobs and the closure of six cinemas. Eight of the 14 cinemas in the group – under the Empire Cinemas and Tivoli brands – will remain open. But the locations that have been closed with immediate effect are: • Bishop’s Stortford• Catterick

House prices have fallen at the greatest annual rate in more than 10 years, according to the Halifax house price index. The mortgage lender said prices fell 2.6% in the year up to June – the largest year-on-year decrease since June 2011 – equivalent to a £7,500 cut in the average house price. A typical

Money markets have begun to price in a Bank of England interest rate of 6.5%. The interest rate on ten year government bonds (the gilt yield as it’s sometimes called) exceeded the peak it hit after the mini-budget of September last year – that one which provoked a crisis in many parts of the bond

UK housebuilding has fallen at the steepest rate in more than a decade – outside of the pandemic years – as high borrowing costs impact demand, according to a closely watched survey. The June downturn in housebuilding was “steep and accelerated”, according to the S&P Global/CIPS construction purchasing managers’ index (PMI). Residential construction decreased at

Higher wages are the “biggest driver of price rises” for two-thirds of businesses, according to the findings of a report which will do nothing to ease worries at the Bank of England that inflation is coming under control. The British Chambers of Commerce’s (BCC) economic survey of its members, covering April to June, showed that

The government should subsidise safe e-bikes to combat the risks posed from unregulated batteries, an industry figure has said. The call comes after the death of a family in a Cambridge flat fire which was most likely caused by an electric bike that was charging. Gemma Germeney, 31, died at the scene in the early

The water industry regulator has admitted investors in crisis-hit Thames Water have become “more concerned about the turnaround of the company”, as it seeks £1bn to help shore up its immediate financial future. Ofwat chief executive David Black told a Lords committee that while talks were continuing, new shareholders may have to be sought if

The bosses of the country’s four main lenders are facing pressure to raise “measly” easy access savings rates. The Treasury Committee of MPs said it had written to the chief executives of NatWest, Lloyds, HSBC UK and Barclays to demand that savers are fairly rewarded. Lenders have been accused of being quick to reflect Bank