Sky to Acquire ITV's Broadcasting and Streaming Arm in £1.6bn Deal
Sky has announced a long-awaited £1.6bn deal to buy ITV's broadcasting and streaming arm, creating the UK's biggest commercial broadcaster. Sky, owned by US telecoms company Comcast, will pay £1.2bn in cash initially for ITV's media and entertainment business, which includes its free-to-air TV channels in the UK and ITVX streaming platform. It has agreed to pay a further potential £200m in the second half of 2028, depending on 2027 advertising revenues.
Sky described the deal as a chance to create a "UK-focused national streaming champion" and hopes it will help compete for viewers with US streaming platforms including Netflix, YouTube and Amazon Prime Video.
Ocado Co-Founder and CEO Tim Steiner to Step Down in 2028
Ocado's co-founder and chief executive, Tim Steiner, will stand down in 2028 after weeks of speculation over the online grocer's leadership. Steiner, who co-founded Ocado in 2000 with two other former Goldman Sachs bankers, will continue to serve as chief executive until the start of the 2028 financial year, which begins in December 2027, by which point the company hopes to have a successor in place.
Steiner, 56, will then stay on for another year in a "founder role" providing "strategic guidance, deep market expertise and support" to the board through to 2029, the company said.
Once-a-Day Wegovy Weight-Loss Pill Goes on Sale in UK
A once-a-day Wegovy weight-loss pill has gone on sale at high street and online pharmacies in the UK, but is not yet available on the NHS. Thousands of people began receiving their first deliveries of the pill, made by the Danish drugmaker Novo Nordisk, on Monday. It contains the same active GLP-1 ingredient as the Wegovy jab, semaglutide, and is similarly effective, according to studies.
The pill, which was approved by the UK's medicines regulator on 11 June, can be prescribed privately to overweight or obese people, subject to a medical consultation, alongside a healthy diet and exercise. Unlike the injected version, it is not yet available on an NHS prescription.
Ministers Urged to Strengthen City Regulator's Powers Over AI Risks
Ministers have been urged to toughen the City regulator's powers to protect consumers against the potential risks of AI, according to a landmark review. The Mills review by the Financial Conduct Authority (FCA), which looked at how AI will reshape financial services from 2030 onward, found that companies are already starting to shift from human-led activities towards AI-enabled services for everyday consumers.
It found the move could support customers and make financial advice more accessible to lower-income households, but it also increased the risk of fraud, cyber threats and harm to consumers.
