Iran hits key UAE oil port and Dubai airport

Faarea MasudBusiness reporter Getty Images ITV has said it is in “preliminary” discussions to sell its television business to Sky for £1.6bn. The talks focus on ITV’s Media and Entertainment division, which include its TV channels as well as its streaming service, ITV X. The discussions with Sky, which is owned by US-based Comcast, come…

Jemma Crewand Nick Edser,Business reporters Getty Images Trade tensions and a reversal in the artificial intelligence (AI) boom are among the main risks to global economic growth, the International Monetary Fund (IMF) has warned. Its comments came in its latest world economic outlook, where it described the global economy as “steady”, with growth expected to…

Laurie Watson Laurie Watson’s flight back from a sailing holiday was cancelled Airlines are paying out millions of pounds in compensation to passengers every year after initially saying no as consumer groups accuse firms of trying to put customers off making claims for severe delays or cancellations. Almost £11m was paid to passengers in the…

BBC A committee has made 11 recommendations after reviewing the role of the Treasury, reserves and the island’s structural deficit A Tynwald scrutiny committee has warned the Isle of Man’s government could face “significant repercussions” if it does not end its “systematic reliance” on financial reserves. The Economic Policy Review Committee (EPRC), led by three…

Demand for online jewellery helped boost retail sales in December, despite a difficult festive period overall for retailers, figures show. Sales were up 0.4% from the previous month, the Office for National Statistics (ONS) said, citing online jewellers reporting an increased demand for precious metals such as gold and silver. Internet shopping performed well, while…