Pizza Hut’s largest franchise restaurant in the UK is set to agree a rescue deal that would save the vast majority of its UK outlets and jobs. Sky News has learned that Directional Capital, an investment company which already controls much of Pizza Hut’s restaurant operations in Denmark and Sweden, is in advanced talks to … Read more
With government bond yields rising, sterling falling and, all things considered, markets looking rather choppy in the UK, it is highly likely that Rachel Reeves’ trip to China will be overshadowed by rumors. There’s a chance the dominant narrative doesn’t speak China himself, but why didn’t she cancel the trip. But make no mistake: this … Read more
Sterling came under further pressure at the end of a torrid week for the British currency, falling to a new 14-month low against the dollar. Sterling lost almost a cent, to just above $1.22 at one point, on higher support for the greenback after US jobs data -United States turned out to be much stronger … Read more
The company that owns Britain’s Vauxhall car plants fulfilled the UK government’s electric vehicle (EV) sales mandate last year, despite public criticism of the target and an announcement that its Luton factory would close. Stellantis, which also owns the Peugeot, Citroën and Fiat brands, as well as several others, was the UK’s best-selling electric van … Read more
Mick Lynch, one of the UK’s most influential union leaders in recent history, has announced his retirement. Mr Lynch is stepping down as head of the RMT (Rail Maritime and Transport Workers) union at the age of 63. He has been its general secretary since 2021. Money blog: Major mobile phone company increases bills next … Read more
How concerned should Rachel Reeves be that interest rates on government bonds have reached their highest levels in more than a quarter of a century? More to the point, how worried should we be about this? After all, the interest rate on 30-year government bonds (“Gilts,” as they are called) reached 5.37% today – the … Read more
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
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