Business

A mining group in which the financier Nick Candy is the largest shareholder is poised to swoop on a London-listed gold explorer to create an enlarged group worth more than £150m. Sky News has learnt that Metals Exploration, which is also quoted on the junior AIM market, is close to agreeing a cash-and-stock deal to

HSBC Holdings, one of Britain’s biggest high street banks and Europe’s largest lender by market value, is preparing to kick off a hunt for its next chairman. Sky News has learnt that HSBC’s board has appointed headhunters to orchestrate the recruitment of a successor to Mark Tucker, who has held the post since 2017. City

Former Harry Potter star Rupert Grint has been ordered to pay £1.8m in tax. The Ron Weasley actor lost a legal battle with HM Revenue and Customs in 2019 and was ordered to pay the sum following an investigation into his tax return from the 2011-12 tax year. Grint had received a £4.5m sum from

The owner of the UK’s largest natural gas storage site has warned of depleted stocks by the end of winter due to early cold weather and a lack of wind power. Centrica, which operates the Rough facility in the North Sea, said stocks could be lower compared to previous years due to higher demand. It

Around half the UK’s mortgage holders face paying higher rates over the next three years, the Bank of England has warned, while sounding alarm over the potential impact of Donald Trump’s looming return to the White House. Its latest financial stability report – released twice a year – showed 4.4 million homes were set to

Marks & Spencer (M&S) and the owner of B&Q have expressed an interest in taking over dozens of stores operated by Homebase, the DIY chain which fell into administration this month. Sky News has learnt M&S and Kingfisher are among the retailers which are circling the remaining Homebase estate of close to 50 outlets, ahead

UK car production has slowed, according to industry figures, in the latest sign of a struggling sector. For the eighth month in a row UK car manufacturing fell, according to data from the Society of Motor Manufacturers and Traders (SMMT). October saw 15.3% fewer cars roll off factory lines than the same month a year

Typhoo Tea has entered administration but a buyer could already be poised to take over the struggling firm. Administrators were appointed on Wednesday to the more than 100-year-old tea brand but a potential buyer has already emerged. Consumer goods wholesaler Supreme announced its takeover discussions were “at an advanced stage” but cautioned “there can be

Britain’s biggest airports are joining the growing private sector backlash against Rachel Reeves’s budget, warning that a £1bn business rates bill for the industry will trigger the cancellation of routes to and from the UK and higher costs for passengers. Sky News has obtained a draft letter from Airports UK, which represents more than 50

The closure of Vauxhall’s Luton van plant is a car crash for the 1,100 workers who could lose their jobs and threatens to trigger a pile-up for a government facing acute pressure from manufacturers over its plans to transition to an electric-only future. Stellantis, Vauxhall’s parent company which also owns Citroen, Fiat and Peugeot, has

Vauxhall will close its Luton plant in April, the parent company Stellantis announced. More than 1,100 jobs at the van-making factory are at risk, but Stellantis said it is hoping to transfer “hundreds” of jobs to the group’s Vauxhall site in Ellesmere Port. It is now in consultation with unions and employees over the proposals,

The trend of shop prices falling may be reversing as businesses face higher costs, according to industry data. The pace of price drops slowed this month, according to figures from the British Retail Consortium (BRC). November was the first time in 17 months that the inflation rate was higher than a month earlier. While shop

Barclays has been fined £40m over capital raising that averted its need for taxpayer aid during the 2008 financial crisis. The Financial Conduct Authority (FCA) found that the bank should have disclosed more details to the stock market about the £11.8bn in funding, from Qatari and other sovereign investors, that it had previously described as

Tax rises announced during the recent budget will hit businesses rather than encourage growth, the head of one of the UK’s most prominent business groups will warn on Monday. The Confederation of British Industry (CBI) has joined a choir of voices opposing Chancellor Rachel Reeves’s fiscal measures, which the Labour Party claims are needed to

When Natalie Getreu was 31, single and focused on her career, she decided to freeze her eggs. She was able to save money on the process through her job – but it still set her back £5,300. Natalie has joined the growing number of women who spend thousands of pounds to delay pregnancy by freezing

The managing director of Jaguar has hit out at what he called “vile hatred and intolerance” after the car company released a new advert. A 30-second clip posted on the luxury car brand’s X account on Tuesday prompted online backlash after it featured a diverse group of models posing in bright clothes but no vehicles

Potential suitors have again begun circling ITV, Britain’s biggest terrestrial commercial broadcaster, after a prolonged period of share price weakness and renewed questions about its long-term strategic destiny. Sky News has learnt that a number of possible bidders for parts or all of the company, whose biggest shows include Love Island, have in recent weeks

Bosch will cut up to 5,500 jobs as it struggles with slow electric vehicle sales and competition from Chinese imports. It is the latest blow to the European car industry after Volkswagen and Ford announced thousands of job cuts in the last month. Cheaper Chinese-made electric cars have made it trickier for European manufacturers to

Cambridge University’s wealthiest college is putting the long-term lease of London’s O2 arena up for sale. Sky News has learnt that Trinity College has instructed property advisers to begin sounding out prospective investors about a deal. Trinity, which ranks among Britain’s biggest landowners, acquired the site in 2009 for a reported £24m. The O2, which

Official accounts have revealed for the first time how much the King’s 2023 coronation cost UK taxpayers. According to the accounts, the government spent £72m on the coronation – the first in Britain since Queen Elizabeth II’s in 1953. The figure includes £50.3m of costs attributed to the Department for Culture, Media and Sport (DCMS),