Bim Afolami, the former city minister, will return to HSBC – the bank he worked for before embarking on a political career – in a board role. Sky News has learned that Mr Afolami, who lost his Hitchin seat in last year’s general election, is to become a non-executive director of the UK entity of … Read more
Britain’s electricity grid manager has appealed to electricity suppliers to increase production this evening to avoid the risk of power outages. The National Energy System Manager (NESO) issued an alert “to encourage market actions aimed at increasing system margins”. It is the first precautionary measure of its kind for winter to date and has been … Read more
Representing one of the world’s largest fast fashion retailers, Shein was unable to answer MPs’ questions about where its cotton comes from. Yinan Zhu, Shein’s general counsel for Europe, Middle East and Africa (EMEA), was asked if the company sells products containing cotton from China, mainly from the Xinjiang region , where China has been … Read more
Efforts by two private equity firms to extract profits from hospitals located in underserved communities are putting patients at risk, according to a new report released Tuesday by a powerful Senate committee. 162-page Senate Budget Committee report comes as Americans continue to express outrage at the role of corporations in the American health care system, … Read more
The first sign of Mark Zuckerberg’s capitulation to the MAGA movement came when he visited Donald Trump’s Mar-a-Lago resort for Thanksgiving in December. After which Metaworth $1.5 trillion, made a decidedly modest $1 million contribution to President-elect Trump’s inaugural fund. But it seems geeks bringing gifts wouldn’t be enough to appease a president-elect who once … Read more
A consortium of Silicon Valley financiers and executives is mounting a late bid to block England’s Hundred cricket tournament auction by submitting bids for the two London-based franchises. Sky News has learned that Nikesh Arora, the chief executive of Palo Alto Networks, is leading a syndicate of wealthy executives to buy a major stake in … Read more
There is growing evidence that consumers are facing bill hikes on many fronts after Next became the latest to warn of upcoming price rises. The homewares and fashion retailer said it would implement an “unwelcome” 1% price rise this year to help cover a planned £67 million increase in its turnover. salary. He attributed the … Read more
Prices in stores will rise in 2025 as the key Christmas period failed to meet retailers’ expectations, industry data shows. According to the British Retail Consortium (BRC) and big four accounting firm KPMG, in-store sales rose just 0.4% during the ‘golden quarter’, the three critical months for October shopping. to December. Many retailers rely on … Read more
ClearScore, the credit information provider that was nearly absorbed by FTSE-100 giant Experian seven years ago, is reaffirming its prospects for independent growth with the purchase of a smaller British fintech. Sky News understands that ClearScore will announce on Tuesday the purchase of Aro Finance, a Manchester-based credit marketplace which counts Argos and Asda among … Read more
Lenders to troubled fashion business Quiz Clothing have recruited restructuring advisers days before the vote on delisting from the London Stock Exchange. Sky News has learned that Quiz’s main lender – reportedly HSBC – has hired Interpath to advise it on the company’s growing crisis. Quiz, which last month reported doubts about its going concern, … Read more