Business

A Hong Kong court has ordered the liquidation of China Evergrande, the real estate firm with more than $300bn (£236.1bn) of debts, amid deepening fears for the territory’s wider corporate health. Justice Linda Chan ruled Evergrande had been unable to offer a concrete restructuring plan to creditors – more than two years after defaulting on

A promise by the incoming National Lottery operator to slash the price of a ticket from £2 to £1 is under review. Allwyn has also said delayed plans for new draw-based games will impact sales and the amount of money it can give to good causes in the early part of its 10-year licence. The

Just three weeks into 2024, one of the most eye-catching developments in financial markets has been a surge in issuance of corporate debt – the activity by which companies raise money selling bonds to investors. According to data from London Stock Exchange Group, investment-grade companies have issued $153bn (£120bn) worth of bonds this month, the

Manchester City have been overtaken in an annual global football club money ranking, with an old foe from Spain reclaiming the top spot. The 27th edition of the Deloitte Football Money League placed Real Madrid at the head of the pack for the first time since 2017-18, with Premier League clubs losing ground in the

On today’s show, we’ve got the latest reports about potential cutbacks at fund manager abrdn. Ian King speaks to Carina Namih, partner at Plural, about a new €400m (£342m) fund to back the next generation of start-ups. Yoko Spirig, co-founder and chief executive of Ledgy, discusses research showing almost three-quarters of UK tech companies would

Millions will be cut off from gas and electricity services this winter, as new research from Citizens Advice details the extent to which households are affected by the inability to afford prepayment power top-ups. The independent, state-funded advice service has said its advisers are helping more people than ever who cannot pay for energy. This

Google has started construction on a new $1bn (£789m) data centre in the UK, it has been revealed. The announcement was made at the World Economic Forum in Davos, where Chancellor Jeremy Hunt has been meeting company bosses as part of a bid to “champion British excellence in tech”. The new facility is to be

Samsung will integrate Google’s generative artificial intelligence (AI) technology into its next generation of Galaxy smartphones. The South Korean firm unveiled the S24 series and boasted of an array of new features powered by AI on Wednesday. “We will reshape the technology landscape, we will open a new chapter without barriers to unleash your potential,”

The annual rate of inflation has surprisingly risen, official figures show. The consumer price index (CPI) measure of inflation stood at 4% in the year to December, according to the Office for National Statistics (ONS). A fall, to 3.8%, had been expected by economists polled by Reuters. But instead inflation rose from 3.9% in the

A plan to boost the security of critical imports has been revealed by the government following a host of disruptions to global supply chains. The Department for Business and Trade said it had been working with key industry groups for several weeks to identify products the country could not do without and should be “safeguarded”.

A supplier of heat pumps and other domestic energy technology to European consumers has secured more than £100m of new funding, weeks after pledging to create thousands of jobs in Britain. Sky News understands that Aira Group, which was established by the founder of prominent battery start-up Northvolt, will say on Tuesday that it has

The world’s five richest men have more than doubled their fortunes to £688bn in three years – while the wealth of the poorest 60% has fallen, according to Oxfam. It says the first trillionaire could emerge within a decade but that poverty won’t be eradicated for 229 years. The charity’s report, Inequality Inc, comes as

In 2007, Apple was credited with revolutionising the landscape for communications when it launched the first iPhone – a mobile phone that could play music and access the internet. The product laid the foundation for 17 years of smartphones and propelled Apple to become the world’s first company to reach a valuation of more than

The City regulator is reviewing whether people could be owed compensation for being charged too much for car loans, following a high number of complaints on historic agreements. The Financial Conduct Authority (FCA) said it was a reaction to rising tensions between consumers and lenders over so-called discretionary commission arrangements across the motor finance market

An autonomous robot designed to tackle potholes using AI is to venture out of a controlled environment and be tested on actual roads for the first time. The machine called ARRES (Autonomous Road Repair System) PREVENT can identify and characterise potholes and cracks using artificial intelligence. Image: Pic: Zenzic CAM UK Image: It can automatically

A sports marketing group which works with Formula One motor racing and the International Olympic Committee is in advanced talks to be sold to a British buyout firm for £250m. Sky News has learnt that Two Circles, which was founded by Gareth Balch, a former international athlete, could announce a deal to be acquired by

Apple has reportedly started making payments to US owners of certain iPhone models over claims handsets are slowed down. Complainants are due about $92 (£72) for each affected model owned as part of a maximum $500m (£394m) total payout. The sum only applies to owners in the US and covers the iPhone 6, 6 Plus,

The energy regulator has warned suppliers over their conduct as a temporary ban on the forced installation of prepayment meters ends. Ofgem said on Monday that it was allowing EDF, Octopus and Scottish Power to resume “involuntary” ‘Pay as you Go’ meter installations. That was because the three firms had met conditions to restart the

Ian King is joined by Mark Shepherd, from the Association of British Insurers, to discuss the impact of the widespread flooding disruption. Mike Hawes, from the Society of Motor Manufacturers and Traders, talks to Ian about car sales. And Randall Atkins, from Ramaco Resources, discusses a new discovery at a coal mine in Wyoming. ::

House prices have risen for the third month in a row, according to new figures from Halifax. The bank said the average cost of a UK home was £287,105 in December. The figure is up 1.1% from the month before and is also the highest level since March 2023. Halifax’s director of mortgages, Kim Kinnaird,