The ownership of the Daily and Sunday Telegraph was set to be transferred to a Abu Dhabi-backed bid. Source link

An Abu Dhabi-backed fund has conceded defeat in its bid to buy The Daily Telegraph after its ownership was effectively blocked by the government. RedBird IMI announced it had placed The Telegraph and The Spectator titles up for sale, declaring that its ownership was “no longer feasible”. The move was …

Premier Inn owner Whitbread is to cut 1,500 jobs as it closes restaurants and expands its hotel business. It plans to cut its number of branded restaurants by more than 200 in favour of building more hotel rooms. The job cuts, which are subject to consultation, will come from a …

Premier Inn owner Whitbread is set to axe around 1,500 UK jobs as part of plans to build more hotel rooms and slash its chain of branded restaurants by more than 200. The company said, while announcing a 36% hike in annual profits to £561m, that it was to begin …

Items bought in shops are becoming more expensive at the slowest pace in more than two years, according to latest industry figures which show that some prices are actually falling. It means that goods, such as clothes and food, are becoming more costly but far less than before, according to …

Noel Quinn, the chief executive of HSBC, is to retire following an “intense” five years in the role. The announcement, which was seen as a surprise among financial market analysts, was made as the London-based but Asia-focused lender revealed a small drop in quarterly profits. Despite that, HSBC confirmed a …

HSBC’s group chief executive Noel Quinn is unexpectedly retiring after nearly five years in the role. Europe’s largest bank says it is in the process of finding a successor for 63-year-old Mr Quinn, who will stay in the role until a new chief executive is named. HSBC is considering candidates …

Chinese car giant BYD has seen profits fall as it is hit by slowing demand for electric vehicles (EV) and a price war in the world’s largest car market. The firm said it made $630m (£502m) in the first three months of the year, more than 47% lower than the …

Female migrants, especially, are sending money home to cover unseen expenses. In Ms Ogba’s own monthly remittances from the US to Nigeria, she prioritises her parents’ healthcare, her cousin’s education, and communal obligations like funeral expenses. On top of this are contributions for home renovations. Source link

He told BBC Breakfast his “bigger worry” was how the physical checks would work in practice. “These products are already checked in Holland. From an industry point of view the communication has really been lacking. “At the moment Defra (the government department) is saying they are going to use [a] …

Thomas Plantenga, Vinted’s chief executive, said second-hand fashion remained a “tiny” proportion of the market but that the firm was in a strong position. As well as expanding into new markets, including Denmark, Finland and Romania, Vinted had also accelerated the development of its delivery service Vinted Go, he said. …

A new rewards platform backed by some of Britain’s most prominent retailers and technology figures will be unveiled on Tuesday with a promise to aid consumers’ fight against what it calls an online ‘stealth tax’. Sky News has learnt that ChaChing, which will launch in the UK this week before …

An HSBC-backed technology company which was in talks to raise funding at a valuation of over £1bn four years ago will this week confirm a plan to break itself up amid mounting losses. Sky News has learnt that Norris Koppel, the founder and chief executive of Monese, is to take …

A US road safety agency is investigating Ford’s BlueCruise driver assistance system following two fatal collisions. The National Highway Traffic Safety Administration (NHTSA) wrote, external in both cases Ford Mustang Mach-E cars collided with stationary vehicles at night, while the system was engaged. BlueCruise is a driver assistance technology that …

Mr Ives said the company faces “massive domestic electric vehicle competition in China along with softer demand”, but that its “long-term valuation story” depends on it also getting approval for fully autonomous driving. The current reported go-ahead allows it to sell parts of its autonomous driving technology in China, such …

The interest rate on a fixed mortgage does not change until the deal expires, usually after two or five years, and a new one is chosen to replace it. Doing nothing would leave people on a variable rate, which is very expensive. About 1.6 million existing borrowers have relatively cheap …

The machines were made by the company’s US subsidiary Philips Respironics. Users reportedly complained of black particles and dust appearing inside their masks. More than five million machines were ultimately recalled worldwide. In January this year, the US Food and Drug Administration said it had received 116,000 reports of problems, …

Getir added that it sees the biggest potential for long-term growth in its home market of Turkey. Since its entry into the UK in 2021, Getir had grown to become a multi-billion pound food delivery firm in just a few years. With its distinctive purple and yellow logo, the company, …

One of the government officials caught up in the Partygate scandal which engulfed Boris Johnson’s premiership is playing a key role in negotiating the future of The Daily Telegraph. Sky News can reveal that former deputy cabinet secretary Helen MacNamara is among the advisors to RedBird IMI, the Abu Dhabi-backed …

Ian King discusses profit warnings as nearly one in five UK listed companies have issued one in the last year. He’s also talking about the average cost of comprehensive motor insurance as it’s risen by a third over the past year. And a mental health clinic which specialises in the …