Business

The owners of The Daily Telegraph have been dealt a fresh blow after the collapse of the parent company behind Arrow XL, a UK-wide delivery business. Sky News has learnt that Logistics Group Limited, which until recently also owned Yodel, fell into administration earlier on Friday. The decision is understood to have been orchestrated by

U.S. President Joe Biden and Vice President Kamala Harris meet with (L-R) Senate Minority Leader Mitch McConnell (R-KY), House Speaker Mike Johnson (R-LA), Senate Majority Leader Chuck Schumer (D-NY), House Minority Leader Hakeem Jeffries (D-NY), on February 27, 2024 at the White House in Washington, DC. Roberto Schmidt | Getty Images President Joe Biden on

Nadhim Zahawi, the former chancellor, is in talks about chairing the biggest remaining part of the Barclay family’s business empire, fuelling speculation that he will join a mass exodus of Conservative MPs at the general election. Sky News has learnt that Mr Zahawi, the MP for Stratford-on-Avon since 2010, is among the candidates to become

Wall Street is heading into the final trading week of March with momentum on its side. All seems to be going well for markets lately. The Federal Reserve this week said it remains on track to lower interest rates this year as inflation, while sticky, eases off its highs. What’s more, artificial intelligence has continued

Bahrain’s sovereign wealth fund has completed a deal to take full ownership of McLaren Group, one of the most revered names in British manufacturing, after years of negotiations to put the company on a stable long-term footing. Sky News understands that McLaren will announce later on Friday that the recapitalisation of the supercar manufacturer and

Check out the companies making headlines after the bell : Nike — Shares added 3% after the athletic footwear retailer beat Wall Street’s expectations for earnings and revenue in its latest quarter. Nike posted earnings of 77 cents per share on $12.43 billion of revenue, exceeding the 74 cents per share on revenue of $12.28

Next, the clothing to homewares retailer, is anticipating a “small reduction” in selling prices this year due to falls in the cost of goods. The company said it was anticipating some relief for hard-pressed shoppers despite a £60m hit from rising wage bills. It made the prediction while revealing a 5% rise in pre-tax profits

Investors are watching for which company could be next after Chipotle announced Tuesday it will split its stock 50-shares-for-1 in June. Shares of the restaurant chain were more than 5% higher on Wednesday on the heels of the news. Some stocks that have announced splits in their shares have typically performed well in the months

A British financial technology company chaired by Lord Hammond of Runnymede, the former chancellor, has made an approach to merge with a London-listed peer. Sky News has learnt that Railsr, which Lord Hammond joined only last month, has written to Equals Group to propose a combination of the two companies. It was unclear on Wednesday

If you’re looking for a wild card out of this week’s Federal Reserve meeting, forget about interest rates and focus on the balance sheet. The run-off of the Fed’s $7.6 trillion in holdings of Treasurys, mortgage-backed securities (MBS) and other assets could soon be set for a tapering and ultimately a halt. During his post-meeting

Unilever, the consumer goods firm behind brands including Marmite and Domestos, has revealed plans to cut 7,500 jobs across its global operations. The UK-based firm, which employs around 128,000 staff, said the proposed losses would come mainly from office roles as technology advanced. It admitted that the UK, where it has 6,000 workers, would be

UnitedHealth Group Inc. headquarters stands in Minnetonka, Minnesota, U.S. Mike Bradley | Bloomberg | Getty Images UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare. “We continue to make significant progress in restoring the services impacted by

Every household must be engaged by the government in the shift to clean heating as uptake of heat pumps to replace boilers is running at less than half of expected levels, the public spending watchdog has warned. A report by the National Audit Office (NAO) described assumptions on consumer demand for heat pumps, which use

The debate over whether Chinese-owned TikTok can operate in the U.S. is back with fervor, revealing more about the risk for Chinese stocks in a U.S. presidential election year. The committee that led the legislation on TikTok that passed the House of Representatives last week has another bill aimed at restricting Chinese biotech companies, among

Marks & Spencer (M&S) is nearing a deal with one of Britain’s biggest high street lenders to overhaul its banking arm as a financial services and loyalty ‘superapp’. Sky News has learnt that M&S and HSBC, whose UK arm owns M&S Bank, are close to announcing a new long-term relationship agreement that will pave the