Business

The government is calling on the music industry to introduce a voluntary levy on tickets for concerts at stadiums and arenas to help fund grassroots venues. Ministers expect the music industry to push through their proposals “as soon as possible” for shows next year, the Department for Culture, Media and Sport (DCMS) said. The government

Barclays is edging towards a deal to offload its merchant acquiring arm in the UK that will see it remaining as an investor in the business. Sky News has learnt that Barclays and Brookfield, the Canadian asset management giant, are in detailed talks about a deal that would involve the British lender retaining a 20%

The Post Office has announced that 115 larger crown branches – those owned by the company directly – could close with the possible loss of hundreds of jobs. The Communication Workers Union has signalled a fight ahead as the Post Office confirmed details of its transformation plan. The affected branches collectively employ close to 1,000

When retired policeman Roy Faulkes goes on a walk, he is still on the lookout – but instead of criminals, he is on the hunt for abandoned properties. The Derbyshire resident has earned nearly £3,000 by identifying and reporting the long-term empty and derelict homes strewn across his neighbourhood. It started with a home on

Struggling Metro Bank has been fined £16m for poor money laundering controls. The Financial Conduct Authority (FCA) said the challenger bank failed to have the right systems and controls to adequately monitor more than 60 million transactions, with a value of over £51bn, for money laundering risks. The regulator identified failings between June 2016 and

There has been no discussion of how much Fujitsu, the maker of the faulty Post Office software Horizon, should contribute to compensating its victims, the company’s Europe chief executive has said. The company has been in discussion with the government about paying towards its proposed billion-pound spend on redress for victims of the computer programme

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