Business

The British supercar maker McLaren Group has bolstered its board with a trio of appointments including the former boss of Rolls-Royce Motor Cars. Sky News can reveal that Torsten Muller-Otvos was recruited as a non-executive director of the Surrey-based company earlier this month. Chaired by the former Diageo chief Paul Walsh, McLaren has also recruited

An Indian pharmaceutical group is closing in on a deal to snap up Nicotinell, the anti-smoking aid, from Haleon, its FTSE-100 parent company. Sky News has learnt that Hyderabad-based Dr Reddy’s Laboratories could be within days of acquiring the brand and a number of lesser-known European products from Haleon. Sources said a deal was likely

The reason for the fall in the household energy price cap is pretty straightforward – wholesale electricity and gas prices have fallen since the price cap was last set in February this year. Wholesale gas and electricity prices make up by far the biggest proportion of the energy bills – £720 of the current £1,690

The average annual energy bill will be £506 cheaper than a year ago from July, the sector’s regulator has announced. The energy price cap – which limits what can be charged per unit of energy – is due to fall from the month after next. It means the average annual bill will be £1,568 a

Plans for a multibillion pound mass market sale of the government’s stake in NatWest Group have been derailed by Rishi Sunak’s decision to call a summer general election. Sky News can reveal that a proposed retail offer of shares in the taxpayer-backed bank will be scuppered by the timing of the poll. The Treasury has

Sajid Javid, the former chancellor of the exchequer, has been approached about taking a role at Shein, the online fashion giant which is progressing plans for London’s biggest stock market float for years. Sky News has learnt that Mr Javid is among a number of senior City figures who have held talks with Donald Tang,

Marks & Spencer’s website and app has not been working for several hours, with a message telling shoppers “you can’t shop with us right now”. “We’re working hard to be back online as soon as possible,” it adds. All the menus and images have disappeared apart from one showing a model in a green jacket.

The new British boss of Wefox, one of Europe’s biggest insurance technology companies, has warned investors that it could face collapse within months as it contends with a slew of regulatory and financial challenges. Sky News has learnt that Wefox believes it could become insolvent by the summer unless it can secure the sale of

The boss of the world’s biggest bank has told Sky News that Western economies have a “good hand” in the “economic battlefield” with China but declared it doesn’t have to be war. In a wide-ranging interview with Sky’s Wilfred Frost, chief executive and chairman of JPMorgan Chase Jamie Dimon said the West was going to

Apple has apologised for its new iPad Pro advert where it crushed cameras, books and musical instruments, saying it “missed the mark”. The advert – shared online by Apple chief executive Tim Cook – also featured creative tools such as a record player and a metronome being crushed in an industrial press. It was intended

People who lost their money in FTX, once one of the biggest cryptocurrency exchanges in the world, are to be paid back, with interest. Billions were lost when the cryptocurrency exchange headed by convicted fraudster Sam Bankman Fried went bust in November 2022, with an estimated one million customers losing funds. Money latest: Struggling iconic

Ian King talks to Alex Kendall, co-founder of British driverless car start-up Wayve about their new investment. Gerald Chappell, Chief Executive and co-founder of Abound also joins Ian to discuss their latest financing. And Mark Crabtree, Managing Director of sound-engineering firm AMS Neve reveals they’ve been awarded the King’s award for enterprise. :: Listen and

Octopus Energy has cemented its status as one of Britain’s most significant private companies after a series of share trades valuing it at $9bn (£7.2bn). Sky News has learnt that Britain’s second-largest domestic energy supplier is now close to attaining a rare ‘decacorn’ valuation – referring to companies worth at least $10bn – after two

Authorities in California have been mocked over a “billion-dollar” bridge to nowhere. The state government of California has long planned for a Los Angeles to San Francisco high-speed rail project. Despite initial funding being approved back in 2008, the line is still a long way off and expected to cost over $100bn in total. So

Tech giant Apple has recorded the biggest drop in iPhone sales since the early months of the COVID pandemic. Sales for January to March were down 10% on the same period last year – something not seen since the 2020 iPhone model was delayed due to lockdown factory closures. Overall, Apple earned $90.8bn (£72.4bn) in

Apple is trying to fix a problem which caused some iPhone alarms to not go off. Users have been complaining they were missing their alarms. “This has probably been the third or fourth day in a row that my alarm clock has not gone off,” one TikTok user Reid Manning said. It is unclear how

Chinese manufacturers receive nine times more government support than their Western counterparts, according to calculations from the Organisation for Economic Co-operation and Development (OECD) which help explain the country’s complete dominance in so many sectors, from solar panels and batteries to steel. The figures produced by the OECD show that Chinese businesses benefit from government

Ian King discusses Nationwide’s figures showing a surprise fall in UK house prices, which are down for the second month running. He’s also talking to a company that’s installed its first Electric Vehicle charge point powered from a street cabinet. And Ian speaks to the founder of a new platform that claims to give retailers

A unit of Sony, the giant Japanese conglomerate, is investing millions of pounds in a British insurance start-up which has amassed more than 200,000 customers. Sky News understands that Urban Jungle will announce this week that it has raised $14.4m (£11.2m) from existing investors including Sony Innovation Fund. The funding will take the total sum

On today’s episode, Ian King reveals Tesla’s plans to introduce new vehicle models before the second half of next year as Elon Musk’s company reports a dip in sales and net profits. He gets reaction from Daniel Ives, Managing Director at Wedbush Securities. Lloyds Banking Group also reports a dip in profits. Plus, Ryanair’s chief