The newspaper was founded by Tom Rubython in order to provide a Sunday alternative to the Financial Times, achieving sales of around 150,000 on launch, falling to fewer than 20,000 within months.
It was re-launched on 15 February 1998 with an exclusive interview with Gordon Brown, who promised a budget tailored towards the business community.
The newspaper became known as a launchpad for the successful careers of the small team put together by editor Jeff Randall in the winter of 1997/8.
The newspaper was originally based in Cavendish Square in Central London, while the re-launched newspaper was based in the offices of ITN News in Gray's Inn Road, moving on to South Quay in London Docklands in 2000 and then finally back to the City at Waterhouse Square.
From its offices in London's Victoria, and under the editorship of Andrew Neil, it was rebranded The Business – a weekly glossy magazine – in the autumn of 2006.