Business

One of the co-founders of Funding Circle, the London-listed fintech, is taking the helm of a solar energy start-up which promises to bring down the cost of renewable power for households and small businesses. Sky News understands that Rainbow Energy, which was founded in 2020, will announce this week that it has recruited Andrew Mullinger

BP is exploring a sale of two of the companies owned by its early-stage ventures arm in a move which could raise tens of millions of pounds. Sky News has learnt that the FTSE 100 company’s Launchpad division has begun contacting prospective buyers of Lytt and Onyx Insight in recent weeks. Lytt transforms large amounts

A defence-focused British artificial intelligence software company chaired by a veteran of City boardrooms has raised a substantial round of funding to fuel its expansion. Sky News has learnt that Adarga, which helps the Ministry of Defence and national security-focused clients identify threats more effectively by sifting vast amounts of information, has secured £17m from

A review of the artificial intelligence (AI) market has been launched by the UK competition watchdog. Competition and Markets Authority (CMA) chief executive Sarah Cardell told the Financial Times its “fact-finding” mission would inform on the “real opportunities” but also the protections that could be needed. The probe would include the models behind popular chatbots

The big four accountancy firm KPMG is racing to resolve an embarrassing administrative mix-up which has left British-based employees being given erroneous information about their tax payments. Sky News has learned that the professional services giant is close to resolving an issue which emerged last week, according to insiders. The fiasco is understood to have

Shakespeare and the Spice Girls were used by environmental protestors to repeatedly disrupt the Barclays annual general meeting (AGM) in central London on Wednesday morning. Activists from Extinction Rebellion, Fossil Free London and Climate Choir were protesting the UK high street bank’s investment in new fossil fuel projects despite heavy security at the AGM venue.

Elon Musk is wrong to call for a global pause in the development of AI, which would play into the hands of rogue regimes, a new report has warned. The SpaceX, Tesla, and Twitter owner was one of 1,000 people to put his name to a letter saying humanity faced “profound risks” due to the

Apple and Google have teamed up to thwart people who try to track others using devices designed to help find lost keys and luggage. The rival tech giants do not often collaborate on new features for their smartphones, with a joint initiative to create contact tracing software during the pandemic one of few past examples.

Diesel drivers are being “ripped-off” at the pumps to the tune of around 16p per litre, according to a motoring group. The RAC, along with others, has long argued that British motorists and businesses are paying over the odds for the fuel – the engine behind the UK economy – fanning the flames of inflation

The UK financial watchdog will announce plans to change the rules on bringing companies into public ownership after a series of high profile businesses snubbed the London Stock Exchange. The Financial Conduct Authority (FCA) will on Wednesday publish proposed changes to rules on listing companies on the London Stock Exchange. It hopes to make regulation

Secret Sales, a discount platform for premium clothing and beauty brands, has clinched a $10m funding round to accelerate its expansion into Europe. Sky News understands that the company, which was bought by retail entrepreneurs Chris Griffin and Matt Purt three years ago, will announce this week that it has secured the additional capital from

The new owners of Chelsea FC are in talks with Allianz, the German insurance giant, about taking over as its principal shirt sponsor as they grapple with the impact of a dire debut season on the club’s finances. Sky News has learnt that Allianz is among a handful of companies in discussions with the Stamford

Capital One, the American credit card giant, is poised to swoop on a British luxury concierge service in a deal said to be worth hundreds of millions of dollars. Sky News has learned that Capital One Financial Corp has struck a deal to acquire Velocity Black, which was founded in 2014 and offers its well-heeled

The British competition watchdog has blocked Microsoft’s bid to buy video game maker Activision Blizzard. The Competition and Markets Authority (CMA) stopped the $68.7bn (£55bn) deal due to concerns that it would stifle competition in the cloud gaming market. In its final report on Wednesday, the CMA said that the move was “the only effective

The chief executive of Ted Baker is close to leaving the company six months after it was taken over by a giant American brands and entertainment conglomerate. Sky News has learnt that Rachel Osborne, who took the helm at the British retailer in the midst of a governance and accounting crisis in 2020, is expected

Fraser McKevitt, head of retail and consumer insight at Kantar talks to Ian King about grocery prices and developing trends in our shopping habits. Plus, chief executive and co-founder of GAIL’s Bakery, Tom Molnar, discusses how the rising price of flour has affected his business. Ian’s also joined by the boss of train ticketing app

Renee Elliott, the founder of Planet Organic, is returning to spearhead a rescue deal for the supermarket chain she launched in 1995. Sky News has learnt that Ms Elliott has agreed to lead a takeover of Planet Organic in a deal expected to be finalised on Tuesday. City sources said she had assembled backing from

One of Britain’s most experienced retail executives is joining the board of JD Sports Fashion, part of a management shake-up aimed at improving governance under its new chairman. Sky News has learnt that Darren Shapland, a former finance chief at J Sainsbury, will be named on Tuesday as a non-executive director of the UK’s biggest

A conveyancing software maker is in talks to join the growing exodus of companies from the London stock market. Sky News has learnt that AIM-listed Smoove has received several takeover approaches from unnamed suitors. City sources said on Monday that the company was engaged in discussions with at least one prospective buyer. Smoove is a

Elon Musk has threatened to sue Microsoft for allegedly using Twitter data without permission. The billionaire’s warning, via a tweet, came after the tech giant revealed it would drop his social media site from its corporate advertising platform. Microsoft‘s service uses AI to help ad buyers manage their social media accounts in one place. Musk