Business

Bosses of The Daily Telegraph’s parent company will instruct bankers within weeks to launch an auction of one of Britain’s best-known newspaper publishers. Sky News has learnt that Nick Hugh, the chief executive of Telegraph Media Group (TMG), told staff on Tuesday that the new board of Press Acquisitions was in the process of hiring

The National Grid Electricity Systems Operator (ESO) has confirmed it will have no coal-fired power as back-up this winter, if needed, to help keep the lights on. There were five contingency units to call on last winter as the energy market reeled from the impact of Russia’s war in Ukraine. They were warmed up several

Hollywood actors Ryan Reynolds and Rob McElhenney are investing in a Formula One team in their latest sporting venture. The Deadpool star, along with business partner and It’s Always Sunny In Philadelphia co-creator and actor Rob McElhenney, both 46, saw Wrexham AFC promoted to the Football League following a 15-year absence after taking over the

Mortgage lenders and Chancellor Jeremy Hunt have agreed that people should be given a 12-month break before repossession proceedings start amid soaring interest rates. After the rise of the base rate to 5%, Mr Hunt met with leaders of financial institutions including Lloyds, NatWest, Barclays and Virgin Money. They agreed that the repossession break should

After UK inflation remained at the same level in May, Ian King reflects on the figures with HSBC economist Liz Martins. Managing director for operations at the World Bank, Anna Bjerde, speaks about how the rebuilding of Ukraine can be managed and financed. Parker Conrad from HR platform Rippling discusses how companies like his support

Not good. Not good at all. The last few months of inflation data have had a dreary and repetitive rhythm to them. Economists predict the rate at which prices are rising will finally begin to fall, and fast. Then the official data comes in and it turns out prices are not falling as fast as

A pair of British executives are seeking to buck the trend of waning sentiment towards special purpose acquisition companies (SPACs) by establishing a £1bn listed vehicle for investors to access the Lloyd’s of London insurance market. Sky News has learnt that Financials Acquisition Corp (FINSAC), which floated in the UK in the spring of 2022,

As smartphone screens have got bigger, and laptops more powerful, tablets have gone through something of an identity crisis. Once pitched as an obvious middle ground between the computer in your pocket and the one on your lap, the thinking behind them seems increasingly muddled. There are iPads for people who want a keyboard and

The cost of a two-year fixed rate mortgage has climbed above 6% while the equivalent rate on a five-year fixed rate mortgage has reached 5.67% but the headline figures belie the pain that households really face. We are now facing the worst mortgage squeeze since the housing crash of the 1990s. At 13%, mortgage rates

A Spotify executive has spoken out about the scrapping of Harry and Meghan’s $20m (£15m) deal with the streaming service, calling the royal couple “f****** grifters”. Bill Simmons, who is head of podcast innovation and monetisation, criticised the pair after it was announced they were being dropped by Spotify for reportedly not creating enough content.

The prime minister has declined to back extra support for mortgage holders despite higher interest rates making payments more expensive – and a further rise in rates expected. Asked if the government will introduce financial support for mortgage bills, similar to those introduced to help with energy bills, Rishi Sunak said he understood the public

Annual mortgage repayments are set to rise by £2,900 for the average household remortgaging next year, according to a think tank. As the UK’s “mortgage crunch” deepens, total annual mortgage repayments could rise by £15.8bn by 2026, the Resolution Foundation said. Prolonged inflation has raised expectations that the Bank of England’s base rate-rising cycle, which

Millions of people were left waiting too long for energy support due to a lack of government “bandwidth”, according to a report from the cross-party Public Accounts Committee. More than a million households became eligible for support too late, while a further two million homes using prepayment meters have yet to redeem their £400 voucher,

The operator of Britain’s electricity system says it is to keep a scheme that aims to help prevent blackouts for the coming winter. National Grid ESO said it was “prudent to maintain” the demand flexibility service (DFS), which was introduced in 2022 in the wake of Europe’s gas squeeze caused by the war in Ukraine.

Mortgage payers taking out new loans today are now facing the biggest home loan squeeze since the early 1990s housing crash, with the pain only set to worsen in the coming months. The average rate on a new five-year mortgage has now ticked up to 5.54%, according to Moneyfacts. This is, in headline terms, the

A Singaporean sovereign wealth fund has joined the list of suitors vying to take control of Center Parcs, the UK’s biggest chain of upmarket holiday resorts. Sky News has learnt that the city state’s Government Investment Corporation (GIC) is in talks to table a joint bid for Center Parcs with KSL Capital Partners, the private

Household supplier E.On Next has been told to pay £4m back to its customers following a review that found customer service weaknesses at every company in the sector. Ofgem ordered the money be shared by 500,000 households in compensation for the firm’s “unacceptable” call services. It works out at £8 each. An additional £1m is

A US regulator has succeeded in a bid to temporarily block Microsoft’s £55bn takeover of video game maker Activision Blizzard, preventing the deal being completed this week. The Federal Trade Commission (FTC), which opposes the tie up on competition grounds, went to court last night for a preliminary injunction. A two-day hearing, in which all

British tech companies and universities are to receive millions of pounds of investment to develop new technology that generates solar power from space. The rapidly emerging technology collects energy from the sun using solar panels attached to satellites, which then beam it back to Earth using wireless technology. Generating power from space has huge potential

All Uber Eats couriers will use zero emission vehicles by 2040, the food delivery company has announced. Deliveries are currently made by staff using cars, motorbikes and bicycles, as well as public transport. The firm has also pledged to end all unnecessary plastic waste from deliveries by 2030 by making all participating restaurants use sustainable