Business

An AI software company which counts Britain’s largest gas distribution network among its clients will this week announce it has secured $15m (£11.6m) in new backing from a syndicate of leading venture investors. Sky News understands that Cogna, which launched last year, has landed the funding from Notion Capital, with backing from Hoxton Ventures –

The UK is “not the target” of potential US tariffs after Donald Trump’s presidential election victory, a trade expert has told Sky News. Duncan Edwards, the chief executive of BritishAmerican Business, said Mr Trump‘s return to the White House could also mean fresh free trade agreement talks with the US. Discussions stalled under Joe Biden

A prominent provider of cosmetic surgery services is exploring a sale for the second time in less than three years. Sky News understands that Transform Hospital Group, which is owned by Y1 Capital, a UK-based private equity firm, is working with advisers on a transaction. City sources said that Interpath Advisory was handling the sale

The UK could be spared the impact of Donald Trump’s proposed trade tariff increases on foreign imports, a US governor has told Sky News. In the aftermath of the Republican candidate’s decisive election win over Kamala Harris this week, attention is turning to what the former president will do on his return to the White

Rachel Reeves will this weekend be told by some of Britain’s biggest hospitality groups that the tax hikes imposed in last month’s Budget risk triggering a tsunami of job losses across the sector. Sky News has learnt that dozens of bosses from pub, restaurant and hotel operators have agreed to sign a letter to the

Thousands of Bolt drivers won their legal claim to be recognised as workers, securing rights to paid holidays and a minimum wage. After the landmark ruling, handed down by an employment tribunal on Friday, law firm Leigh Day said the compensation owed to the 15,000 drivers they represent could be worth more than £200m. The

The baby formula market needs a shake-up to help parents struggling to afford it, according to the UK’s competition watchdog. There are “limited incentives” for the industry to compete on price and parents have suffered the consequences of high prices, said an interim report by the Competition and Markets Authority (CMA). The watchdog has previously

Rachel Reeves probably needs no reminding of the political and economic potency of inflation. Her party’s thumping electoral win in the summer was in large part attributed to the cost of living crisis. Donald Trump’s triumph this week has underscored the point, his sweeping gains across all demographics put down to inflationary impacts the Biden

The battle for control of Thames Water’s future has deepened after a second group of bondholders tabled a fully underwritten offer to provide £3bn of new debt. Sky News has learnt that the utility’s class B bondholders submitted a proposal to the company on Thursday morning which aims to trump a rival offer from its

Rachel Reeves has said she is “confident” trade flows with the United States will continue under President-elect Donald Trump despite his proposal to put up tariffs. The chancellor was asked what implications the result of the American election will have on her plans for growth as she faced questions from the Commons Treasury Committee. Politics

Post Office campaigner Sir Alan Bates has written to Sir Keir Starmer to remind him the “clock is still ticking” on a compensation deadline for victims. In his letter to the prime minister, Sir Alan demanded a March 2025 deadline for compensation for sub-postmaster victims of the Horizon scandal. Earlier on Tuesday, Sir Alan told

Planned strikes by London Underground drivers have been suspended after they received an “improved offer” over pay. Members of Aslef were due to walk out on Thursday and again next Tuesday – which would have heavily impacted Tube services. The Rail, Maritime and Transport union had already called off strikes by its members after resolving

A £15bn merger between two of the UK’s biggest mobile networks could get the green light – if they stick to their commitments to invest in the country’s infrastructure, the competition watchdog has said. The Competition and Markets Authority (CMA) said the merger of Vodafone and Three had “the potential to be pro-competitive for the

Business leaders expressed frustration with ministers on Monday amid a growing budget backlash that bosses said would trigger an “avalanche of costs” and leave them with no choice but to slash investment and increase prices. Sky News has learnt that bosses of large retail and hospitality companies and trade associations told Jonathan Reynolds, the business

There’s fear in some quarters of another Donald Trump presidency but will the economics be that bad? Not a single vote has been counted but the policies of a possible second Trump presidency have already influenced financial markets. The cost of US and UK borrowing – measured through 10-year revenue-raising instruments called bonds – has

Navantia, the Spanish shipbuilder, is racing to finalise a takeover of the stricken shipyard-owner that built the Titanic amid urgent talks to reshape a major government contract. Sky News has learnt that Navantia is attempting to negotiate more favourable terms for a deal to build three Fleet Solid Support ships (FSS) for the Royal Navy