The fast-fashion giant Shein has held talks with the London Stock Exchange about the possibility of staging a blockbuster public listing in the UK, even after filing documents paving the way for a flotation in New York. Sky News has learnt Donald Tang, Shein’s executive chairman, met executives from the LSE and other stakeholders in
Business
Baroness Michelle Mone says she regrets denying her connection to a PPE firm awarded huge contracts during the pandemic – and which is now being investigated by the National Crime Agency (NCA). Following a silence lasting almost two years, the Ultimo bra tycoon has taken part in a YouTube documentary funded by the same company,
The misuse of copyrighted music by artificial intelligence companies could exploit musicians, a former executive at a leading tech startup has warned. The technology is trained on a huge number of existing songs, which it uses to generate music based on a text prompt. Copyrighted work is already being used to train artificial intelligence models
New immigration rules could prevent universities from hiring the best international talent and send a message that the UK is “closing ranks”, higher education leaders have warned. Academics and University bodies have told Sky News an increase in the minimum salary for a skilled worker visa effectively prices out early career academics and researchers vital
GB News, the right-leaning current affairs broadcaster, is in talks to raise tens of millions of pounds even as it contends with a string of probes by Ofcom, the media regulator. Sky News has learnt that GB News’ parent company, All Perspectives Limited, is targeting a fundraising worth in the region of £30m in the
Microsoft’s multibillion-dollar partnership with ChatGPT maker OpenAI could face investigation by the UK’s competition regulator. The tech giant is a major investor and strengthened ties following the chatbot’s wildly successful launch in November 2022, committing another $10bn (£7.9bn) earlier this year. It is reported to own a 49% stake in the company, which is at
The UK’s average two-year mortgage rate has dipped below 6% for the first time in nearly six months. The rate now sits at 5.99%, falling from 6.01% the day before, according to Moneyfactscompare.co.uk. The last time the rate was below 6% was on 16 June 2023, when it dropped to 5.98%. The highest it has
Vodafone, EE, Three and O2 are facing a “£3bn-plus” class action claim that alleges they used their market dominance to overcharge on up to 28.2 million UK mobile phone contracts. The four largest network operators are accused of penalising loyal customers – meaning they paid more than new customers for the same services. Many contracts
New family visa rules could leave British citizens with a foreign partner facing greater restrictions on who they can live with than migrant workers, according to leading immigration researchers. Under new rules announced by Home Secretary James Cleverly, the minimum income for British citizens who want to live with family members in the UK is
“The last thing I do before going to sleep at night is check the trains to see whether they’re running on time and then the first thing I do in the morning, before I reach for a cup of tea, is pick my phone up and check again. And then you can still get to
The Bank of England has said that UK households and businesses have been “resilient” in the face of rising interest rates – but repeated previous warnings that the full effect of higher interest rates was yet to come through. Unveiling its latest Financial Stability Report – which is published twice yearly – the Bank said
One of Britain’s biggest tenpin bowling venue operators will this week disclose that it has become the latest London-listed companies to recommend a private equity-backed takeover. Sky News has learnt that Ten Entertainment, which trades from about 50 venues across the UK, is to recommend an offer from Trive Capital, a US-based buyout firm. A
Thames Water has revealed an 18% rise in pollution incidents during the first half of its financial year. The country’s largest household supplier reported 257 category one – the most serious – to category 3 pollutions over the six months to the end of September. It said that action to prevent these incidents was a
Israeli authorities are investigating claims some investors may have known in advance about the Hamas plan to attack Israel on 7 October and used that information to make hundreds of millions of pounds. Research by US law professors Robert Jackson Jr and Joshua Mitts, from New York University and Columbia University respectively, found significant short-selling
The government will announce a package of measures today aimed at reducing record levels of legal migration, Sky News understands. Home Secretary James Cleverly is expected to tell the Commons on Monday that the minimum salary requirement for a skilled foreign worker will be significantly hiked, from £26,200 to a figure over £35,000. It is
The CBI faces a deadline next September to refinance millions of pounds of funding put in place to avert its collapse during the autumn. Sky News has learnt that a seven-figure facility put in place with banks will expire at the end of the third quarter next year. While the size of the facility is
An Abu Dhabi state-backed vehicle has moved closer to taking full control of The Daily Telegraph just hours after the launch of a regulatory probe that prevents it from removing key journalists from their posts. Sky News has learnt that RedBird IMI has given the newspaper’s board and the government notice of its intention to
Green desert. To my left, the waves of sand are broken by sparse scrubby trees. To my right, the towering skyscrapers of Dubai. But beneath my feet, a solar power station on top of a school. The petrostate is changing. Kings’ School Al Barsha provides some evidence, where 3,000 pupils study here beneath two megawatts
The CBI is urging members to swallow a further rise in fees even as the lobby group battles to regain its former standing among political and business leaders. Sky News understands that CBI members will be asked at its annual meeting next week to approve a 5% rise in their subscription costs. It comes less
The government is to prohibit the removal or transfer of key Daily Telegraph journalists during a public interest probe into the newspaper’s prospective takeover by a state-backed Abu Dhabi investor. Sky News has learnt that Lucy Frazer, the culture secretary, is preparing to make an interim enforcement order (IEO) that will impose a set of
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