The cost of UK government borrowing has hit a high not seen in decades as Prime Minister Keir Starmer faces mounting threats to his leadership and the oil price rises.
Microsoft is eliminating approximately 4,800 jobs, representing 2% of its global workforce, as part of a cost-cutting measure and a significant restructuring of its Xbox gaming division. This includes shedding 3,200 gaming jobs and spinning off or reviewing five game studios.
ITV is selling its broadcasting division to Sky for £1.6bn, a move seen as an end to an era for the 70-year-old company. The deal reflects the decline of traditional free-to-air broadcasting in the face of streaming giants, with ITV's digital revenues showing growth but not enough to offset the linear business's struggles.
US private equity firm Castlelake has agreed to a £5.5bn takeover of easyJet, offering £6.90 per share. The deal, which follows four previous rejections, is seen by analysts as a sign of UK firms being undervalued and bought cheaply by foreign buyers.
Sir Paul Marshall's hedge fund, Marshall Wace, nearly tripled its fossil fuel investments to $2.8bn in Q1 2026, while cutting clean energy investments. Critics accuse Marshall of "cashing in on climate chaos" and using GB News to promote his financial interests.
Sky is acquiring ITV's media and entertainment divisions for £1.6bn, a deal that will keep popular shows like Coronation Street and Love Island free to watch until at least 2034. The takeover aims to create a strong rival to global streaming giants.
BT CEO Allison Kirkby has overseen an 80% share price climb and a £5.6m pay package, but questions linger about her credit for the turnaround. The company is focusing on domestic operations, with plans to cut workforce by 40% and increase savings.
