Business

Marine Le Pen is closing the gap on Emmanuel Macron in the opinion polls – and investors are getting nervous ahead of this weekend’s first round of voting in the French presidential elections. For months it has seemed that Mr Macron, who cruised to victory five years ago at the head of his newly-formed La

The owners of TalkTalk, one of Britain’s biggest broadband providers, have received tentative approaches about a possible £3bn sale of the company amid a frenzy of international telecoms industry consolidation. Sky News has learnt that Vodafone has been weighing whether to make a potential offer for TalkTalk in recent weeks. Sky, the Comcast-owned immediate parent

The last four bidders for Chelsea Football Club have been given extra time to table final offers for the Premier League side as the most hotly contested sports auction in history looks set to be extended. Sky News has learnt that the remaining consortia were informed on Thursday by the advisers handling the sale that

Boris Johnson has pledged to “do more” to help people with the rising cost of living after Business Secretary Kwasi Kwarteng admitted the government’s energy security strategy is “more of a medium three, four, five year answer”. Speaking to broadcasters from Hinkley Point C ahead of the release of the energy plan later today, the

Part of National Grid will be returned to public ownership under a new plan to help Britain reach its climate targets. The utility company will sell its Electricity System Operator (ESO) arm to the government and will then become part of a new Future System Operator (FSO). The new authority will oversee Britain’s electricity systems

The Treasury has blocked a proposal to expand the energy scheme to upgrade household insulation and energy efficiency, Sky News understands. It had been reported that Number 10 and business ministers were calling for an expansion of the Energy Company Obligation (Eco) scheme – which uses money raised from a levy on energy bills to

Elon Musk has topped Forbes’ list of world billionaires, relegating Amazon founder Jeff Bezos to second place for the first time in four years. Musk was worth an estimated $219bn (£166bn) as of 11 March – when the list’s authors locked in net worths – after adding $68bn (£51bn) to his fortune over the past

A rise in demand for leisure and entertainment activities last month helped the UK economy grow more than had been expected, according to a closely watched survey, as fears intensify that soaring inflation will apply the brakes. The S&P Global/CIPS UK Services PMI, which measures the sector accounting for 80% of the country’s economy bar

The government has decided to push ahead with plans to privatise Channel 4. Ministers have concluded, following a consultation, that while the broadcaster is “currently performing well” its public ownership is “holding it back in the face of a rapidly-changing and competitive media landscape”, a government source said. A spokesperson for Channel 4 said it

Shares in social media giant Twitter have surged by a quarter after it was revealed that Tesla billionaire Elon Musk had bought a 9.2% stake. A regulatory filing showed the tycoon had snapped up 73,486,938 Twitter shares. The stake is worth $2.89bn (£2.2bn), based on Twitter’s closing price on Friday. Musk is a frequent user

The government is preparing to nationalise Gazprom’s British supply arm within days amid a stand-off between the Russian state-controlled energy firm and a Wall Street banking giant. Sky News has learnt that ministers are drawing up plans to take Gazprom Marketing & Trading Retail (GM&T) into public hands if it fails to reassure financial counterparties

The owners of the American basketball team the Cleveland Cavaliers have joined forces with one of the four remaining bidders for Chelsea Football Club as the auction of last season’s Champions League-winners enters its final stages. Sky News can exclusively reveal that Rock Entertainment Group (REG), which owns a string of US sports teams, has

NatWest Group is contemplating an audacious takeover bid for one of Britain’s biggest wealth managers in a move that would represent its biggest corporate acquisition since it was rescued by taxpayers nearly 15 years ago. Sky News has learnt that NatWest is in the early stages of considering an offer for Tilney Smith & Williamson,

The government’s business misconduct watchdog has launched criminal and civil probes into P&O Ferries, adding to pressure on the embattled company. The move comes two weeks after P&O Ferries sacked nearly 800 workers and replaced them with lower-paid crew, a decision that the government called illegal. Business Secretary Kwasi Kwarteng confirmed on Friday afternoon that

A London-listed gold mining group which was prevented from making a loan repayment this week after its Russian lender was sanctioned is lining up advisers to help restructure its borrowings. Sky News has learnt that Petropavlovsk, which has seen its shares plummet in the last year, is preparing to bring in AlixPartners to advise it

Household energy bills prices are likely to rise even higher this autumn as the war in Ukraine deepens the gas crisis, the boss of one of the UK’s largest energy companies has told Sky News. Greg Jackson, founder and chief executive of Octopus, which has more than two million direct customers, said volatility in wholesale

Community volunteers have shared their concern about the cost of living crisis and its impact on children. One mother told Sky News her two sons had gone hungry in the past. Another group – offering free hot meals – estimated more than half of the children they are feeding are malnourished. And Sky News has

The UK economy grew at a rate of 1.3% in the last three months of 2021, a faster pace than first thought and bringing GDP to just below pre-pandemic levels. The Office for National Statistics (ONS) had previously estimated GDP grew by 1.0% between October and December last year. “GDP grew a little stronger than we

The government’s lead non-executive director has quit with more than a year of his term to run, paving the way for a prominent businessman to inherit one of the most powerful roles in Whitehall. Sky News has learnt that Lord Nash, who was appointed by the prime minister in July 2020, has stepped down from

Germany has declared an “early warning” of a gas supply emergency, in one of the starkest signs yet that the Russian invasion of Ukraine is spilling over into European energy markets. The country said that its warning was intended to prepare for the risk of disruption to, or even the end of, natural gas flows

The boss of P&O Ferries has flatly rejected the government’s final plea to halt the process of making nearly 800 of its workers redundant. In a letter to transport minister Grant Shapps on Tuesday, the company said the process was in its final stages with most workers already accepting severance offers, and changing course now

Babcock International Group, the FTSE-250 government contractor, is in talks to offload the bulk of its emergency aviation services division, which counts Britain’s Air Ambulance fleet among its operations. Sky News has learnt that Babcock is in advanced negotiations with Ancala Partners, a London-based infrastructure investor, about acquiring a substantial chunk of the business it

A second P&O ferry, the Pride of Kent, is being detained after it failed safety checks by authorities amid the backlash over the company’s decision to replace 800 seafarers with lower-paid crew. The Maritime and Coastguard Agency (MCA) made the revelation as a new crewmember aboard a P&O vessel told Sky News there was an

Bosses from ferry companies DFDS and Stena Lines will meet government officials later today following rival P&O’s decision to sack 800 staff. The Department for Transport (DfT) confirmed the meeting but did not say what would be discussed, although it comes amid concerns over chaos at ports during the Easter holidays. A DfT spokesman said:

The four contenders vying to buy Chelsea Football Club will submit final bids on April 11, paving the way for a prospective new owner to seek government permission to take over from Roman Abramovich by the end of next month. Sky News has learnt that the remaining contenders have been notified by Raine Group, the

Hundreds of people have demonstrated against P&O Ferries’ sacking of 800 staff at ports across the UK, with some chanting: “P&O, shame on you.” Protesters carrying banners and placards gathered in Dover, Liverpool, and Hull as part of what they called the “fight for justice” for the seafarers dismissed without notice earlier this month. The

The remaining contenders to buy Chelsea FC have been told they must commit at least £1bn to future investment in the club if they are to succeed in the battle to end Roman Abramovich’s two-decade tenure as owner of last season’s Champions League-winners. Sky News can exclusively reveal that the quartet of bidders which were

A P&O ferry has been detained in Larne, Northern Ireland, according to the Maritime and Coastguard Agency. The agency said the ship, the European Causeway, was held “due to failures on crew familiarisation, vessel documentation and crew training”. In a statement it said: “The vessel will remain under detention until all these issues are resolved

The owners of the Chicago Cubs are drafting in a heavyweight investment bank as they attempt to salvage their bid to buy Chelsea Football Club. Sky News has learnt that the Ricketts family and Ken Griffin, the Citadel hedge fund billionaire, are in talks to appoint Lazard to advise on their offer for the Stamford

Transport Secretary Grant Shapps has said the boss of P&O Ferries should quit for his “brazen, breathtaking arrogance” in admitting “breaking the law” in sacking staff. The cabinet minister also said he would change the law to force a U-turn and prevent the ferry operator paying below minimum wage to its crews. It comes after

A string of bidders for Chelsea Football Club including the former US ambassador to the UK have been eliminated from the £3bn auction of last season’s Champions League winners as the hunt intensifies to find Roman Abramovich’s successor as owner. Sky News has learnt that a number of bidders including Woody Johnson, owner of the

Rishi Sunak has defended his spring statement amid much criticism as he argued the UK is recovering from its biggest shock in 300 years. The chancellor said he knows families are struggling with the rising cost of living and that is “why I announced a tax plan which delivers the biggest net cut in personal

Budgets – and let’s make no bones about it, today’s Spring Statement was significant enough to qualify as a budget – tend to follow a time-honoured pattern. The chancellor unveils his measures, makes a big noise about them in the House of Commons, and then – sometimes over a few hours, sometimes over a few