Daniel O'Boyle

Business news editor

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Business
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Royal Mail firm ‘minded to’ accept £3.5bn offer from West Ham co-owner

A deal would see the 500-year-old institution Royal Mail taken off the stock market just under 11 years after it was privatised in an initial public offering

15 May 2024
<p>Czech billionaire Daniel Křetínský might be the next owner of Royal Mail, after submitting a shock bid for its parent company International Distributions Services (IDS) today (PA)</p>
Business

Who is Daniel Křetínský, the Czech billionaire bidding for Royal Mail?

He’s nicknamed the 'Czech Sphinx' due to his enigmatic approach to business

15 May 2024
<p>Bank of England governor Andrew Bailey (PA)</p>
Business

Inflation will be below-target by mid-2026, Bank of England says

The Bank previously believed that inflation would briefly fall back to target briefly this quarter, only to rise again and remain above target until 2027

9 May 2024
<p>The FTSE 100 hit another record high earlier today</p>
Business

Signs of UK-listed firms narrowing valuation gap after record FTSE run

With this weekend set to be the warmest of 2024 so far, the City will be hoping that the strong spring run turns into a red-hot summer for London shares

9 May 2024
<p>New questions emerged over fast fashion firm Boohoo recovery plan this morning, as losses ballooned to £160 million and sales slid by double digits across all regions. (Boohoo/PA)</p>
Business

Boohoo recovery plan doubts grow as losses hit £160m

Shares fell by as much as 6.3% as the business reporting declining revenue

8 May 2024
<p>Revolution Bars is in talks with 32 suitors as it hopes to find a buyer that could rescue the struggling hospitality business</p>
Business

Revolution Bars in talks with 32 suitors as it seeks rescue deal

While the sales process goes on, Revolution is also launching a restructuring plan, which would lead to it closing 18 bars and cutting hundreds of jobs

7 May 2024
<p>European stocks have recovered some of last week’s losses, with London’s FTSE 100 climbing higher (Nick Ansell/PA)</p>
Business

London out of top 20 IPO destinations of 2024 — joint with Kazakhstan

The IPO drought comes at the same time as an exodus of firms from the London Stock Exchange

4 May 2024
<p>High street bank Santander has increased its mortgage interest rates for the second time in four days, in the latest sign of fixed-rate prices are climbing back up (Danny Lawson/PA)</p>
Business

Santander raises mortgage rates for second time in four days

Lenders have been increasing mortgage rates again as the bank of England’s first interest rate cut appears further away than previously hoped

3 May 2024
<p>Average fixed-mortgage costs have eased slightly in recent months (Victoria Jones/PA)</p>
Business

House prices dip in April as mortgage rates hit property rebound

The average price across the UK was £261,962

1 May 2024
<p>Grosvenor's London estate includes properties in Belgravia and Mayfair</p>
Business

Duke of Westminster's Grosvenor Group pays £51m dividends despite loss

Revaluations of property, especially in San Francisco, hit Grosvenor’s bottom line

30 Apr 2024
<p>The number of new tech companies formed in the UK hit a five-year high in the first quarter of 2024, with more than half of those businesses based in London.</p>
Business

Number of new UK tech company formations hits five-year high

More than half of the new incorporations were for companies based in London

30 Apr 2024
<p>The UAE-backed firm that appeared on the cusp of controlling the Telegraph has backed out of the process of buying the newspaper after the Government took steps towards blocking the deal (Jonathan Brady/PA)</p>
Business

Telegraph back up for sale as UAE-backed bidder pulls out

The Government pledged to stop any foreign state from controlling a UK news asset

30 Apr 2024
<p>Dreaming big: Premier Inn owner Whitbread is taking on rivals</p>
Business

Premier Inn owner Whitbread to cut 1,500 jobs at restaurants arm

The 282-year-old business is increasingly focusing on Premier Inn, as the budget hotels go from strength to strength while its restaurants fail to keep up

30 Apr 2024