Manchester United football club will cut the funding it provides to its charitable arm as part of a cost purge overseen by Sir Jim Ratcliffe, its new billionaire shareholder. Sky News has learned that the Premier League club plans to inform the Manchester United Foundation of its intention to cut the benefits it offers – … Read more
Sir Keir Starmer has ordered Britain’s top watchdogs to remove barriers to growth in a bid to revive Britain’s flagging economy. Sky News has learned that the Prime Minister wrote to more than ten regulators – including Ofgem, Ofwat, the Financial Conduct Authority and the Competition and Markets Authority – on Christmas Eve demanding they … Read more
Several months before farmers hit the headlines, after protesting in Whitehall against the new government’s inheritance tax rules, we at Sky News embarked on a project. Most of our stories are relatively short stories, recorded and edited for the evening news. We capture snapshots of life in households, businesses and communities across the country. But … Read more
An Oxford University spin-out developing a new generation of weed-resistant herbicides has begun fundraising for $40 million (£32 million) from potential backers. Sky News understands that Moa Technology, which was co-founded by Professor Liam Dolan, director of plant sciences at the world-renowned university, is launching a Series C funding round. Moa has already raised $59m … Read more
The cost of living crisis has “boosted” the second-hand industry, Sky News has learned, with more than £2 billion being spent on second-hand gifts this Christmas. Adam Jay, CEO of Vinted Marketplace, said the “trend” to buy second-hand was “happening anyway”, but described rising costs elsewhere as a possible “accelerator”. “I’m sure the cost of … Read more
Japanese automobile giants Honda and Nissan have announced plans to merge. That would make it the third-largest automaker by sales, behind Toyota Motor Corp and Volkswagen AG. The two companies announced that they had signed a memorandum of understanding that would also include smaller companies. Nissan Alliance member Mitsubishi Motors is participating in the integration … Read more
The UK economy showed no growth last quarter, according to revised figures from the Office for National Statistics (ONS). The previous estimate for July and September indicated that the economy grew by 0.1%. Early estimates show that real GDP per capita fell by 0.2% in the third quarter of 2024, down 0.2% from the same … Read more
Bank of England Governor Andrew Bailey will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between the two countries. Sky News has learned that Mr Bailey and Nikhil Rathi, chief executive of the Financial Conduct Authority, will both accompany the chancellor during the January trip. Mr … Read more
An electric cargo bike logistics company, which counts fashion giant Zara among its partners, has launched an emergency search for new backers. Sky News has learned that Zedify, which has raised millions of pounds from investors including Barclays Sustainable Impact Capital, was working with Interpath Advisory on a review of its funding options. Zedify claims … Read more
The Bank of England has maintained its forecast for “gradual” interest rate cuts for next year, after surprisingly backing a cut this month. Its pricing committee, while deciding to keep Bank interest rate maintained at 4.75%, noted higher than expected salary increases and inflation despite a slowdown in the economy in the second half. However, … Read more