Business

The Daily Telegraph newspaper has inched closer to a sale after Lloyds Banking Group seized control of its parent firm over unpaid loans and placed it in the hands of receivers. Sky News has previously reported how the bank was understood to have undertaken the drastic move and was in the process of appointing investment

The president of Microsoft has met with the chancellor amid efforts to overturn the competition watchdog’s decision to block its planned takeover of Activision Blizzard. Brad Smith said in a meeting with Jeremy Hunt that he would try to work with regulators to win approval for the technology giant’s $69bn (£56bn) purchase of the Call

The largest US crypto asset trading platform has been accused of illegally operating without regulatory approval. The US Securities and Exchange Commission (SEC) said it had filed a lawsuit against Coinbase. The action also accuses its Prime and Wallet units of operating as unregistered brokers. News of the case prompted a 20% decline in the

US regulators have filed a lawsuit against cryptocurrency exchange Binance alleging a string of violations including the misuse of investor funds. Cryptocurrencies and shares in crypto and blockchain-related companies tumbled after the Securities and Exchange Commission (SEC) revealed 13 charges against the world’s largest exchange and its founder Changpeng Zhao. The watchdog claimed they artificially

Apple is expected to announce a mixed reality headset – its first brand-new product for eight years – at its annual event for developers. The tech giant’s WWDC showcase is usually reserved for software reveals – notably the next major updates for its iPhones, iPads, and Macs – but this year fresh hardware is on

The price of diesel fell by almost 12p last month – a record drop, according to new figures. The RAC said the average price per litre was now 147p, down from 158.9p at the start of May – making it the seventh consecutive month prices have fallen. It means the cost of a typical 55-litre

Companies that provide guidance for those with money problems are to be banned from receiving referral fees from debt solution providers. The Financial Conduct Authority (FCA) said the new rules for debt packagers, which are regulated providers of advice, would save consumers money in “unnecessary fees” and improve guidance for those struggling. There have been

Twitter’s head of trust and safety has resigned from the social media company, according to a report. Ella Irwin told Reuters news agency she had resigned, not long after Fortune reported her internal Slack account appeared to have been deactivated. Ms Irwin oversaw content moderation – a controversial subject for a company that has been

Today on the Ian King Podcast, Wilfred Frost speaks to a senior economist at Nationwide about house prices. He also discusses the difficulties in the car market with Autotrader’s chief executive and hears how supply chain issues are key to the current problems. And could sustainable cruise ships transform the industry? We hear from the

Efforts to prevent the United States reaching its debt limit and to avert a potentially catastrophic default on loan repayments on Wednesday move to the Senate, where the vote on the proposal to raise the debt ceiling takes place. President Joe Biden and leader of the House of Representatives, speaker Kevin McCarthy, had spent the

Ian King hears from Chancellor Jeremy Hunt, who says the government will do whatever it takes to bring down inflation, even if that means a recession. He also speaks to Nick Harding, the chief executive of consumer lender Fluro as analysis by PwC shows total household debt in the UK has exceeded 2 trillion pounds

Britain’s largest building society has made some mortgages more expensive as the Bank of England’s interest rate is now expected to rise higher than previously thought. Nationwide has said interest rates on new fixed-rate mortgages will rise 0.45 percentage points. It follows moves by lenders such as Halifax, Santander and Atom Bank who also upped

Cineworld is to exit bankruptcy in July, the world’s second largest cinema operator announced on Thursday. The British chain, which is listed on the London Stock Exchange, filed for bankruptcy in the US last year as it was weighed down by expansive debt and reported weak audience numbers as it emerged from the COVID-19 pandemic.

Microsoft will on Wednesday lodge a formal appeal against British regulators’ decision to block its $75bn takeover of Activision Blizzard, the Call of Duty maker. Sky News understands that the technology behemoth will file its complaint with the Competition Appeal Tribunal (CAT) within hours, sparking the next phase of its fight to secure one of

The government believes it has secured a commitment from Jaguar Land Rover owner Tata to build a new gigafactory in the UK, Sky News has been told. Senior Whitehall sources believe the Indian industrial giant has chosen the UK over Spain as the site for its giant new battery factory. The news is due to

Britain is no longer expected to suffer a recession this year, nor will it have the weakest economic growth in the group of seven leading industrialised economies, the International Monetary Fund (IMF) said today. Unveiling a dramatic upgrade to its outlook for Britain, the Fund, which previously predicted Britain would face the worst 2023 of

Beijing has stepped up its feud with Washington after announcing products made by US memory chip giant Micron Technology pose a national security risk. China‘s cyberspace regulator said on Sunday that following a review it found Micron products have unspecified “serious network security risks” that are a hazard to the country’s information infrastructure. It told

Meta is expected to face a record fine later over its transfer of Facebook’s European user data to US servers, according to reports. Reuters news agency cited two anonymous sources familiar with the matter as saying that the penalty from EU regulators will be higher than the previous record – a €746m (£647m) fine for

The energy price cap is set to remain more than £1,000 higher than the average bill before the COVID pandemic, according to a closely-watched forecast. Ahead of the industry regulator’s determination on the price cap level due next week, energy research specialist Cornwall Insight said it saw the cap for a typical household at the

The Chinese owner of Stemcor, the historic British steel trader, is exploring a sale less than a year after it last changed hands. Sky News has learnt that Stemcor, which was founded by the father of Dame Margaret Hodge, the veteran Labour MP, has been the subject of discussions about a fresh change of ownership