Business

The FTSE-250 engineering services company John Wood Group is facing fresh calls to launch a strategic review almost a year after the collapse of a £1.7bn takeover bid. Sky News has learnt that Sparta Capital Management has written to Wood chairman Roy Franklin to urge him to explore a US listing or a sale of

Tesla is cutting 10% of its global workforce in a bid to reduce costs and bolster productivity, it has been reported. The electric vehicle maker, founded and run by Elon Musk, was yet to comment on a story earlier on Monday by Electrek that it was to axe about 15,000 personnel. The tech publication said

China ramped up coal power capacity last year, according to new analysis, despite a pledge to “strictly control” the dirtiest fossil fuel. The country added 47.4 Gigawatts (GW) of new coal power in 2023, more than double the amount added by the rest of the world combined. It raises concerns that gains in clean power,

Microsoft is set to open a new artificial intelligence hub in London – and is looking for “exceptional individuals” to work there. The hub will work on Microsoft products that use artificial intelligence (AI) and also carry out research into the technology. It will be based at the US tech giant’s offices in Paddington. The

eBay has dropped fees for the sale of second-hand clothing. The online marketplace has scrapped any charges for the sale of pre-owned clothes as of today, in an effort to keep garments out of landfill. This means it is now free to sell second-hand clothing through the site, even if it has never been worn

Administrators to The Body Shop are drawing up plans to launch a further restructuring process in a bid to salvage a future for one of Britain’s best-known high street brands. Sky News has learnt that insolvency practitioners at FRP Advisory have outlined proposals to launch a company voluntary arrangement (CVA) that would see The Body

House prices slipped by 1% in March following five consecutive months of growth, according to new figures from Halifax. The lender said affordability remained a challenge for potential buyers as recent declines in mortgage rates have stalled. It comes as financial markets become less optimistic about the timing and extent of interest rate cuts by

Google is considering charging users for “premium” internet search results powered by artificial intelligence (AI), according to a report. The tech giant is said to be exploring several ideas about how to use the technology, including incorporating enhanced search tools as part of its premium subscription services. Google‘s main search engine would remain free to

The price of oil has climbed following a Ukrainian drone strike on Russia’s third-largest refinery. The attack on the Taneco facility, in the province of Tatarstan, appears to have been Kyiv’s deepest strike inside Russian territory since the invasion of Ukraine more than two years ago. The strike on Tuesday started a fire which took

The new chief executive of beleaguered Dutch football club Ajax is facing the sack for alleged insider trading. Officials said they intended to fire Alex Kroes after it emerged he bought more than 17,000 shares in the club just a week before his appointment to the role was announced last August. “The supervisory board sought

Energy bills are projected to fall by less than expected this summer and autumn due to an increase in wholesale prices, according to a closely-watched forecast. The energy price cap projection in both quarters – July to September and October to December – has risen by around 7% since predictions made last month. This means

High margins for fuel retailers may mean drivers are still paying over the odds at the pump, according to the competition regulator. In a monitoring report, following its fuel market study of 2022, the Competition and Market Authority (CMA) said fuel margins – the difference between what retailers pay for their fuel and the price

Millions of people are being urged to send meter readings to their energy supplier this weekend to ensure they don’t overpay. The regulator’s price cap drops 12.3% on Monday 1 April, from a typical £1,928 per year for a dual-fuel household to £1,690 – an average saving of about £20 per month. Money blog –

Shares in former US president Donald Trump’s media firm have soared on their stock market debut in New York, leaving his majority holding worth more than $5bn (£4bn) on paper. Trump Media & Technology Group (TMTG), the vehicle for his social media rival to X called Truth Social, gained 40% when trading got under way

First-time buyers are being offered the chance to pay a modest £5,000 deposit and potentially borrow up to 99% of a property’s value. The mortgage from Yorkshire Building Society is valid on places up to £500,000 and comes without a fee – but there are a few key exceptions. Money blog – latest updates It’s

Apple, Meta and Google’s parent company are being investigated by the European Union under new laws designed to clamp down on the market power of the world’s tech giants. The Digital Markets Act (DMA) came into force at the beginning of March and aims to tackle “gatekeeping” behaviour among tech giants. If the companies are

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

Ian is joined by Rebecca Klar, technology and policy reporter at The Hill, to talk about the US government suing Apple for allegedly maintaining an illegal monopoly on smartphones. Also, hear the latest as the Bank of England votes to keep interest rates unchanged for another month at 5.25%. Meanwhile, thousands of women may be

Shares in Reddit will make their market debut later on Thursday after a sale valuing the social media platform at $6.4bn (£5bn). The company’s initial public offering (IPO) was priced at the top of its targeted range of $31 to $34 per share on Wednesday night, raising $748m. Reddit and its existing shareholders sold 22

The rate of inflation slowed sharply to an annual rate of 3.4% in February, according to official figures. Data from the Office for National Statistics (ONS) showed an easing from the 4% rate recorded the previous month. It marks further progress in the battle against energy-led price growth that followed Russia’s war in Ukraine and