HSBC Holdings, one of Britain’s biggest banks and Europe’s biggest lender by market value, is preparing to launch the hunt for its next chairman. Sky News has learned that HSBC’s board has appointed headhunters to orchestrate the recruitment of the successor to Mark Tucker, who has held the role since 2017. City sources said this … Read more
The BBC license fee will rise every year in line with inflation until 2027, the government has announced. This will mean bills will increase by £5, or an extra 42p per month, from April next year, bringing the total cost of a TV license to £174.50. The hike comes after a £10.50 increase increased the … Read more
Around half of UK mortgage holders will face higher interest rates over the next three years, the Bank of England has warned, amid concerns over the potential impact of the imminent return of Donald Trump at the White House. Its latest financial stability report – published twice a year – shows 4.4 million homes are … Read more
Typhoo Tea has entered receivership, but a buyer could already be on the verge of taking over the struggling business. Administrators were appointed for the more than 100-year-old tea brand on Wednesday, but a potential buyer has already emerged. Consumer goods wholesaler Supreme said its takeover discussions were “at an advanced stage”, but warned that … Read more
Qatar’s leading state fund will confirm the purchase of a significant minority stake in the Audi Formula One (F1) team on Friday, marking the latest major global sports investment by a sovereign investor. Sky News has learned that the Qatar Investment Authority (QIA) has reached an agreement to acquire around 30% of the F1 team, … Read more
Marks & Spencer (M&S) and owner B&Q have expressed interest in taking over dozens of stores operated by Homebase, the DIY chain which fell into administration this month. Sky News has learned that M&S and Kingfisher are among the retailers circling the remaining Homebase park of almost 50 outlets, ahead of deals closing on Friday. … Read more
British car production has slowed, industry figures show, the latest sign of a struggling sector. For the eighth month in a row, UK car manufacturing has fallen, according to data from the Society of Motor Manufacturers and Traders (SMMT). In October, 15.3% fewer cars rolled off factory lines compared to the same month last year, … Read more
The city’s watchdog is to give the companies it investigates an additional window to challenge the allegations, as it seeks to defuse the months-long row over its so-called “name and shame” proposals. Sky News has learned that the Financial Conduct Authority (FCA) plans to reveal on Thursday that it will give those under investigation 48 … Read more
A UK pension scheme has been branded “deeply irresponsible” after investing in Bitcoin. The unnamed defined benefit scheme became the first in the UK to take the plunge, using 3% of its assets to buy cryptocurrencies last month. Pensions specialist Cartwright acted as an advisor to the program and said the allocation was “a strategic … Read more
One of the world’s biggest investment groups is in talks to help fund the owner of the New York Sun’s £550 million takeover of the Daily Telegraph. Sky News has learned that Apollo Global Management, which oversees assets worth $733 billion, has in recent days held initial discussions with Dovid Efune and his advisers about … Read more