Business

The shootout between one of the world’s largest tech companies and Britain’s competition regulator is, at heart, a battle for control of the new frontline of gaming.  The gaming industry is a $250bn (£204bn) industry that, on some measures, is now larger than the music, book and movie industries combined. And the fastest growing part

A sports streaming service whose customers include Manchester City Football Club, the Premier League champions, has collapsed into administration after the failure of funding talks. Sky News has learnt that Recast, which is based in Edinburgh, called in Interpath Advisory to handle its insolvency on Friday. The company operates a subscription-free live and on-demand platform

Microsoft’s revised effort to get the £55bn takeover of Activision Blizzard past UK regulators appears to be on track for clearance. The Competition and Markets Authority (CMA) had been a sole thorn in the side of the acquisition, rejecting the original terms on the grounds it had a duty to protect innovation and choice in

The headline numbers don’t do justice to the significance of the inflation data. On the surface, this only looks like a small fall, with the consumer price index (CPI) dropping from 6.8% in July to 6.7% in August. So what, you might ask? After all, it’s a far smaller drop than the one we heard

The rate of inflation has eased slightly to 6.7% confounding the predictions of economists that it would rise. The Office for National Statistics (ONS) said the consumer prices index (CPI) measure slowed in the 12 months to August, from the 6.8% figure reported the previous month, thanks to food rising at a weaker pace during

Elon Musk has said he will start charging people to use the social media site formerly known as Twitter. NBC News reports the billionaire businessman, who renamed the platform to X, revealed on a live stream that the company would introduce a “small monthly payment” to combat “vast armies of bots”. Musk has long complained

Marks & Spencer is swapping plastic bags for paper ones across all of its stores following a successful trial. The retailer has become the latest chain to opt for the more environmentally friendly bags following Morrisons, Waitrose and Aldi, which all use paper bags for customers – though some stores offer plastic bags as an

Russia’s central bank has hiked interest rates by 3.5 percentage points to 12% in an emergency move after the rouble plunged in value. It comes after the currency fell to an almost 17-month low of 101 roubles to one US dollar on Monday – a loss of more than a third of its value since

DAZN Group, the streaming service owned by Sir Len Blavatnik, is buying a women’s football content platform amid burgeoning global interest in the sport. Sky News has learnt that DAZN has struck a deal to acquire ata football, which is backed by the Miami-based sports investment firm 777 Partners. City sources said the deal could

A broadband provider has been slapped down by the advertising watchdog for misleadingly implying the existence of 6G. 6G Internet was the subject of a complaint about claims on its website and in a leaflet. 6Ginternet.com displayed the company logo and the promise of “full fibre speeds at affordable prices”, with an entire page dedicated

The owner of the Daily Mail is in talks with prospective backers of a bid for The Daily Telegraph  - a deal that would underline its proprietor’s status among the most powerful figures in British media. Sky News has learned that Lord Rothermere, chairman of both DMGT and its consumer division dmg media, is courting

Elon Musk has suggested his planned cage fight with Meta co-founder Mark Zuckerberg will take place in an “epic location”. In a series of posts on X, formerly known as Twitter, the company’s controversial owner said he has been in contact with the Italian prime minister and minister of culture about hosting the event. He

News Corporation has reported a 75% fall in profits – but says it is optimistic about the future thanks to the “remarkable opportunity” of AI. The media giant said it achieved net income of $187m (£147m) to the year ended 30 June, down sharply on $760m (£598m) the previous year. But chief executive Robert Thomson

The Italian government has introduced a surprise 40% windfall tax on the profits made by banks from high interest rates. Ministers said they planned to use the proceeds to help mortgage holders – but said it was a one-off levy to be applied this summer. The announcement sent banking shares tumbling. Italy’s largest chain Intesa

Food prices may not fall at all, the chief economist at the Bank of England has said. The cost of sustenance “could still remain higher than it was” before the invasion of Ukraine caused the rate of food price rises to accelerate. “Unfortunately the days of seeing food prices fall, that does seem to be

The BBC faces scrutiny over the sale of one of its historic London studios after the emergence of a rival – and possibly higher – bid from a consortium including the Hollywood film producer Matthew Vaughn. Sky News has learnt that a syndicate comprising Mr Vaughn, Sir Len Blavatnik, the billionaire investor in Warner Music

House prices fell by 2.4% in the year up to July – but there are signs the market is showing ‘resilience’, according to the Halifax. The fall in property values is less than the 2.6% annual decline it recorded in June, which was the biggest annual drop in more than 10 years. Month-on-month, house prices

A final decision is in sight for Microsoft’s protracted bid to acquire the maker of Call Of Duty now that the UK’s competition regulator has closed its public consultation on the matter. The Competition and Markets Authority will consider comments from the public – which were submitted over the past week – and Microsoft’s amended

UK car sales have grown all year, despite borrowing becoming more expensive and a cost of living crisis creating difficult financial conditions for consumers. The number of new cars registered grew 28% in July, compared to a year earlier, in the seventh month of growth this year, according to data from the Society of Motor

UK energy chiefs will gather in Downing Street today to discuss net zero as a debate rages in both main parties about the future of green policies. Industry leaders from EDF, SSE, Shell and BP will meet Grant Shapps, the energy security secretary, just days after the government announced it would grant more than 100