Business

Manchester United has confirmed its chief executive of two years, Richard Arnold, “has decided to step down” as part of a “management transition”. The development was revealed shortly after Sky News reported that Mr Arnold would be replaced by the club’s general counsel, Patrick Stewart, on an interim basis. The change is taking place as

The chief executive of Manchester United Football Club is to leave after just two years in the job as its owners finalise the sale of a minority stake to the petrochemicals billionaire Sir Jim Ratcliffe. Sky News has learnt that the Old Trafford club will announce to the New York Stock Exchange later on Wednesday

In a sense, the headline news today is the least important bit of all. Inflation has dropped to 4.6% which means the chancellor and prime minister can claim victory in one of their five pledges – the one to halve inflation by the end of the year. True, there’s still a few months of data

A rise in costs including for energy and repairs has contributed to annual car insurance premiums hitting a new record high, according to an industry body. The Association of British Insurers (ABI) reported a 29% leap in paid-for average comprehensive cover during the third quarter of the year compared to the same period in 2022.

The battle against inflation could receive a boost – if a big fall in global oil costs is sustained. Brent crude futures fell by 4% on Tuesday to levels not seen since July on the back of data that suggested demand would continue to slide in China – the world’s second biggest economy. Brent was

Our business correspondent, Paul Kelso, joins the show as he takes us through the King’s Speech, which laid out the government’s plans for the coming year. And we hear from the chief executive of department store Fenwick about retail sales. Listen and subscribe to The Ian King Business Podcast here Advertisement

After six months of falls house prices across the country are on the rise again, according to analysis from part of the UK’s biggest mortgage lender. Last month, for the first time since March, the cost of buying a house increased as the number of properties on the market shrunk, according to the Halifax house

The England footballer Ollie Watkins is among a group of investors ploughing new funds into a fast-growing British online sneaker and streetwear marketplace. Sky News understands that Mr Watkins, who played for Aston Villa on Sunday in the 2-0 defeat at Nottingham Forest, is backing The Edit LDN, which has operated concessions in department stores

Ian King talks to Sky News’s city editor Mark Kleinman about the future of Manchester United. He also speaks to the founder and chief executive of Venrai, Jason Tucker-Feltham, about Sam Bankman-Fried – who’s been found guilty of crypto fraud. Mary Aiken, Professor of Cyberpsychology at Capitol Technology University in Washington, is also interviewed on

Rishi Sunak has said the UK’s AI safety summit will “tip the balance in favour of humanity” after governments reached a “landmark agreement” with tech companies to test their models before their release. The prime minister said while the event at Bletchley Park was “only the beginning of the conversation”, it showed there was a

Elon Musk will head to Downing Street for talks with Rishi Sunak today following the prime minister’s AI safety summit. The billionaire owner of SpaceX and Tesla jetted in for the event at Bletchley Park, which began on Wednesday with attending countries backing an agreement on the need to manage risks posed by the technology.

Food inflation has decreased for the sixth month in a row and is now at a level not seen in more than a year, according to figures from an industry lobby group and consumer information company. In the year up to October the rate of food price rises stood at 8.8%, down from 9.9% in

Lenders approved the lowest number of mortgages since January last month, according to figures from the Bank of England. Just 43,328 home loans for house purchases were signed off in September – a third consecutive monthly decline – while net approvals for remortgaging fell to 20,600. That was the lowest total since January 1999. The

Bitcoin mining consumes more electricity than most countries, according to a new report on its damaging environmental impact. Mining is the process by which transactions are added to and validated on the blockchain, the public ledger for cryptocurrencies. Competing miners race to use computers to solve complex mathematical puzzles using extremely powerful hardware – receiving

Bitcoin shot up 6% on Tuesday to its highest value in nearly a year-and-a-half. The price rose as high as $35,198 (£28,844) at one point amid speculation US regulators could soon approve an exchange-traded fund (ETF) based on its market price. This would allow investors to gain exposure to Bitcoin without owning the cryptocurrency directly

Emma Crosby is joined by Olivia Gallarati, who’s an oil markets analyst at Energy Aspects. Chris Noice from the Association of Convenience Stores speaks to Emma about the problem of shoplifting. And Vistry announces job cuts after a slump in demand. :: Listen and subscribe to The Ian King Business Podcast here. Advertisement

One of Britain’s biggest chains of car repair shops is gearing up for a sale that could value it at about £400m. Sky News has learnt that Steer Automotive Group has appointed City advisers to sound out prospective buyers. Sources said on Friday that a formal process was not yet underway although initial discussions were

Meta has apologised after Instagram inserted the word “terrorist” into some Palestinian users’ profile bios. Some bios containing the word “Palestinian” followed by the Palestinian flag emoji and the Arabic phrase “Alhamdulillah,” which means “Praise be to God”, were being auto-translated to: “Praise be to God, Palestinian terrorists are fighting for their freedom.” The issue

Nokia has revealed plans to shed up to 14,000 jobs following a slump in sales. The Finland-based telecoms technology firm, which has 86,000 staff worldwide, said it was launching a cost-saving drive across the business in a bid to boost its margins. Nokia reported a 20% fall in sales during its third quarter. Comparable net

The rate of inflation remaining unchanged at 6.7% features on today’s episode of the Ian King Business podcast, where the chief executive of Saxo UK, Charlie White-Thomson, discusses its potential impact on the next interest rate decision. Premier Inn owner Whitbread continues to see strong demand and remains confident about the outlook, in its figures