Business

HSBC has initiated bankruptcy petitions against Aidan Barclay and Howard Barclay, marking a further escalation in the unravelling of the Barclay family’s business empire following the collapse of their logistics group. Court filings show the…

Baroness Michelle Mone has been permitted to retain rental income of up to £15,000 a week from a luxury London mansion, despite the property being subject to a court-ordered asset freeze linked to the £148…

China’s electric vehicle champion BYD is on course to overtake Tesla as the world’s biggest seller of battery-electric cars, marking a symbolic shift in the global EV race. The Shenzhen-based group said annual sales of…

London taxi fares are set to rise after the government moved to close a long-standing VAT loophole used by ride-hailing platforms, a decision expected to raise around £700 million a year for the Exchequer. The…

Ikea is accelerating its shift towards smaller city-centre stores in Britain, as rising property taxes and changing shopping habits blunt the appeal of traditional out-of-town megastores. Peter Jelkeby, the outgoing chief executive of Ikea UK…

Beyoncé has officially become a billionaire, according to Forbes, cementing her status as one of the most commercially successful musicians of all time. The American superstar is now the fifth musician to be recognised by…

The ambition to turn the Oxford–Cambridge corridor into “Europe’s Silicon Valley” is in danger of stalling unless the government accelerates delivery of long-promised infrastructure, business leaders have warned. A coalition of major companies, universities and…

The UK motor finance arm of Mercedes-Benz has plunged into a £365 million loss after setting aside hundreds of millions of pounds to cover potential compensation linked to the mis-selling of car loans. Accounts filed…

UK ministers are facing renewed pressure to tighten restrictions on gambling advertising, after new polling revealed strong public support for a far tougher approach to promotions and sponsorship. Gambling regulation has been the subject of…

The upmarket fashion retailer LK Bennett is on the brink of collapse for the second time in six years after filing an application to appoint administrators. Court filings show the business submitted papers to the…