Author: SKYNEWS

As commercial property values fall by less than expected during the last year, Ian King is joined by Grosvenor’s chief executive Mark Preston.Plus, Premier Inn owner Whitbread looks to expand its hotel business, and the HSBC boss resigns after nearly five years in the role.:: Listen and subscribe to The Ian King Business Podcast here. Source link

Two companies are being sued by the British government for over £145m after they allegedly supplied defective COVID-19 tests. The government has told the High Court that the tests “failed at an unacceptable rate” but the companies deny the accusations and claim the tests were effective. The Department of Health and Social Care (DHSC) is reportedly seeking a refund for thousands of COVID tests that were produced by the companies Primer Design Ltd and Novacyt.The two companies face accusations that they breached a contract signed in 2020 due to “unduly high” levels of test failures.The companies have launched a counter…

A leading wildlife broadcaster has said he will not be drinking “any more” Heineken after the company felled thousands of trees in one of its orchards.Chris Packham said the decision to cut the trees on land in Monmouthshire near the border between England and Wales was a “tragic waste of a fabulous resource”. The BBC reported thousands of apple trees had been cut on 300 acres of land at Penrhos Farm.The company, which owns Bulmer’s, says it plans to sell the land due to a lack of demand for cider and a surplus of apples.But Chris Packham, best known for…

The Spanish owner of TSB, one of Britain’s biggest high street lenders, was on Tuesday at the centre of speculation that it is being targeted for a takeover by the giant banking group BBVA.Sky News understands that BBVA is at the early stages of working with advisers on evaluating a potential all-share bid for Sabadell. City sources said that investment bankers at JP Morgan were advising BBVA on its interest in Sabadell, with UBS also said to be involved in an advisory capacity.It was unclear whether any formal approach had yet been made by BBVA to its smaller rival, although…

NASA is preparing for an “unprecedented opportunity” to study how solar storms and radiation could affect future astronauts on Mars.The sun is entering a period of peak activity called solar maximum, which occurs roughly every 11 years. During this period, giant explosions erupt on the sun’s surface – including solar flares and coronal mass ejections. When a series of these solar events erupts, it’s called a solar storm, and these launch radiation deep into space.While we’re protected on Earth due to the planet’s magnetic field, Mars lost such defences long ago, leaving the Red Planet more vulnerable to the sun’s…

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 series of shareholder rewards including a broader share buyback.Money latest: The items in your attic that could be worth a small fortuneThe bank said it had begun the search for Mr Quinn’s successor and he had agreed to remain in post until that person had replaced him. He would remain available…

The mother of Gogglebox star George Gilbey has revealed his last words to her were “I love you”.Gilbey died after falling through a plastic skylight while fixing a warehouse roof in Essex in March. The 40-year-old appeared alongside his mum, Linda McGarry, and stepdad on the hit Channel 4 show.The family first appeared on the second series of Gogglebox in 2013 but were dropped the following year when Gilbey signed up for the 14th series of Celebrity Big Brother in 2014, reaching the final.Mrs McGarry said she spoke to him on the phone hours before his death. Image: Gilbey appeared…

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 going live in the US next month, is in the process of raising tens of millions of dollars from high-profile investors to back its rollout. The new venture will deliver cash back to consumers by enabling them to buy thousands of products directly from it, countering spiralling advertising fees charged by…

Rock band The Alarm has postponed its upcoming US tour after its frontman’s latest cancer diagnosis.In a statement on the band’s website, Mike Peters said the news had come as a “bolt out of the blue” to him and his family. The band were due to commence their US tour on Thursday but the 65-year-old from Prestatyn, Denbighshire, has announced that he will no longer be able to travel stateside.Mr Peters said he woke with a large swollen gland on the left side of his neck on 21 April.Scan results showed his chronic lymphocytic leukaemia had transformed into a high…

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 control of its consumer arm as a standalone entity. Tera Ventures, an Estonian venture capital firm, is said to be backing the plan.Its business-to-business arm, XYB, meanwhile, will be hived off and run as a separate entity by a new boss, according to people close to the company.Monese’s board was understood…