Asda’s private equity fund has reached an agreement to acquire a majority stake in a group specializing in supporting British SMEs. Sky News has learned that TDR Capital has agreed to acquire a majority stake in CorpAcq, less than six months after the so-called “corporate compounder” aborted a US listing deal. City sources said this … Read more
In the United States, TikTok users open the app and find a message saying they “cannot use” the social media platform “at this time” due to a law enacted in Washington. A ban on the app was set to take effect today after outgoing President Joe Biden signed a law last year requiring ByteDance, TikTok’s … Read more
One of the co-founders of Angel City Football Club, the American side of the National Women’s Soccer League (NWSL), is preparing a transatlantic operation which would see her investment vehicle acquire a stake in the Chelsea FC women’s team. Sky News has learned that Monarch Collective, jointly led by Kara Nortman, is among parties considering … Read more
The owner of Poundland, one of Britain’s biggest discount retailers, has called on city councilors to explore radical options to end the growing crisis at the chain. Sky News has learned that the Pepco Group, which has owned Poundland since 2016, has hired consultants from AlixPartners to deal with a decline in sales which has … Read more
TikTok said it could go dark on Sunday in the United States after the Supreme Court ruled against its attempt to avoid a ban that could shut down the app. THE impending ban is the end result of legislation passed in 2024 on national security grounds, which called for ByteDance, TikTok’s parent company, to sell … Read more
The wife of green energy entrepreneur Dale Vince has been awarded more than £40million by a High Court judge following their divorce. However, Mr Vince said his ex-wife emerged from their divorce with £12 million less than he gave her four years ago. The two men disputed how their money should be split at a … Read more
The UK’s benchmark stock index has hit a new record high. The FTSE 100 index of the most valuable companies on the London Stock Exchange closed at 8,505.69, breaking the record set last May. It had already surpassed its intraday high earlier on Friday, meaning it reached a never-before-seen high during trading hours. The weakening … Read more
There was a surprise contraction in retail sales in December, although this month is key for many retailers due to Christmas shopping, according to official figures. Retail sales fell by 0.3% last month, according to the Office for National Statistics (ONS). No decline was expected, including a drop of 0.3%. Economists forecast sales growth of … Read more
In an effort to help close the gender pay gap in college sports, the NCAA will now pay Division I women’s basketball teams participating in March Madness games starting this year. After a historic vote Wednesday, women’s teams will now receive “performance units” for every game they play in the NCAA Tournament. Met with a … Read more
City watchdog considers formal proposal to increase Britain’s £100 contactless spending limit as part of response to prime minister’s order for regulators to remove barriers to economic growth. Sky News has learned that the Financial Conduct Authority’s response to a Christmas Eve letter from Sir Keir Starmer, Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds … Read more