Business

The FTSE 100 has hit its highest level in ten months, building on a recovery that has lagged its peers during the coronavirus crisis to date. The blue-chip index added 229 points, or 3.5%, on Wednesday to close at 6,841. When points are converted to pounds, it meant almost £61bn was added to its collective

Jeremy Darroch is to step down as chief executive of Sky, the parent company of Sky News, after 13 years. Mr Darroch, 58, is one of the UK’s longest-serving chief executives. His successor will be Dana Strong, currently president of consumer services at Comcast Cable, the largest broadband and pay TV provider in the United

The latest addition to Britain’s array of 24-hour news channels is to begin recruiting more than 100 journalists after completing a £60m fundraising that it claims was significantly oversubscribed. GB News, which aims to launch later this year, said on Wednesday that Sir Paul Marshall, a prominent hedge fund manager, and Legatum, a Dubai-based investment

Businesses in the retail, hospitality and leisure sectors will receive up to £9,000 in one-off grants to help them through England’s new coronavirus restrictions, the chancellor has said. The grants were part of a package of measures announced by Rishi Sunak totalling £4.6bn to help struggling firms after the latest measures came into force. Advertisement

The FTSE 100 has rallied sharply on the first day of trading this year as hopes over the impact of vaccine roll-outs trumped fears over more lockdowns. London’s leading share index was up by as much as 3% or more than 200 points, pulled higher by commodity giants such as Fresnillo and Glencore which tend

Ladbrokes owner Entain has confirmed it has received a takeover offer from US casino operator MGM Resorts. The company, which also owns the Coral chain and online brands such as Sportingbet and Foxy Bingo, said it believes the £8.1bn offer “significantly undervalues the company and its prospects”. It said it had asked MGM Resorts to

The marketing services tycoon Sir Martin Sorrell will this week swoop to make two US additions worth more than $200m (£146m) to his digital advertising empire. Sky News understands that S4 Capital – founded by Sir Martin in the wake of his departure from WPP Group – will announce on Monday that it is buying

The Post Office will this week outline plans to hand two board seats to serving postmasters as it seeks to draw a line under the IT scandal which saw managers wrongly sent to prison. Sky News has learnt that the government-owned company will announce on Monday that a committee of independent businesspeople is being set

Bitcoin has topped $30,000 for the first time, extending a rally that saw its value climb by 300% in 2020. The cryptocurrency rose to as high as $31,824 early on Saturday – just two weeks after passing the $20,000 mark. Its rise has been attributed to traders increasingly betting on it becoming a mainstream payment

Lord Sugar, the Amstrad founder and star of The Apprentice, is fuelling a landlord-led revolt against a rescue deal for Caffe Nero, the struggling chain of coffee shops. Sky News has learnt that Amsprop Investments, the peer’s private commercial property group, is among seven parties which have lodged a legal challenge aimed at blocking Caffe

The dismantling of Sir Philip Green’s high street empire is about to accelerate after the appointment of agents to oversee the sale of the tycoon’s former flagship Topshop store. Sky News has learnt that administrators to Redcastle (214 Oxford Street) Limited, which owns the central London property next to Oxford Circus station have appointed Eastdil

Business owners across the country are waiting to see what the first day outside the customs union and single market holds for them. While some are optimistic about the change in trading rules from New Year’s Day, others say it’s led them to regret their Brexit vote. At Birmingham Wholesale Market, hundreds of crates of

The FTSE 100 has clocked up its worst year since the 2008 financial crisis – underperforming against global rivals that have bounced back following a coronavirus sell-off earlier in the year. London’s leading share index closed at 6460.5 in a shortened closing session on New Year’s Eve, 14.3% down over the course of 2020. It

Tesco, Pizza Hut and Superdrug are among 139 companies that have been named and shamed by the government for failing to pay the minimum wage. The employers short-changed more than 95,000 workers by a total of £6.7m during the period investigated between 2016 and 2018, the Department for Business, Energy and Industrial Strategy (BEIS) said.

One of Britain’s most prominent technology entrepreneurs is to be reunited with the backers of her biggest corporate success when she takes the helm of a cash shell that will target a £100m software industry takeover. Sky News has learnt that Vin Murria, who made her investors a fortune when she sold Advanced Computer Software

Boeing 737 MAX aircraft have resumed passenger flights in the US for the first time since a 20-month safety ban was lifted last month. American Airlines flight 718, carrying around 100 passengers, landed at New York’s LaGuardia Airport on Tuesday after departing from Miami earlier in the day. The airline and plane manufacturer Boeing have